Member Info for Hepseal

Never a dull moment.
I am assuming we will get an RNS in the morning to cover this.

So Geowiz is at a Car Boot sale this morning then!!

Amtech - Yep, I do get your general point, but on many occasions NED's in companies have minimal shareholdings, on this occasion NB has a very significant shareholding in MOS, in fact more than ME at the moment, so I believe that must count for something in the decision making process.

Amtech - Your question, "‘Independent Non Executive Directors’. Is there really such a thing?"

From RNS:
"Mark Epstein, the Company's CEO, is a 33.5% shareholder and director of Krunch. Therefore, the Directors independent of Krunch, being Nigel Burton and Charles Goodfellow (the "Independent Directors"), consider that the proposed acquisition significantly reduces a principal risk to the Company's existing relationship with the Streams Data business, and therefore to the Group as a whole, being the Company's current position of paying for and assisting with the development of the IP within Krunch but not owning or having a right over its ownership, and that the terms were attractive to the Company based on budgeted revenues to be generated by Streams Data from 2022."

Are NB & CG shareholders in Mobile Streams - YES
Are NB & CG shareholders in Krunch - NO

Evansalone - yes, very sarcastic!!
The thing is, if you understood the set up you would have realised that you were posing the question to the wrong people, you should have directed the question to the Independent Non Executive Directors who approved the original acquisition, and who gave their reasons for doing so, and who have no conflict of interest with Krunch. In addition you failed to mention that £250,000 of the original sum was in shares and I suspect there will be a similar arrangement for the second tranche.
No problem as far as I am concerned

With re to the "2nd comes 1st one":
(I know what you mean Chesh !!!)

The next side track is WR B1, Block now have lots of data on this well from both the 3D seismic and the previous drill at this location and they have taken the decision to go back and drill a further side track, so that suggests to me they are fairly confident of success this time around.

Another RNS to look out for will be the Q1 Operations Update, likely to drop w/c 4th April - The oil and gas production figures for Q1 should be significantly higher than the those for Q4 (2021) due to the addition of JKT-01Z.

GLA

Just to reiterate what previous poster said.

"The number of $150,000 is likely the January revenue number as invoicing is one month in arrears…"

I believe the above is correct because I remember when the previous figures were announced on 1st December ME said this was effectively for the month of October.

Recently announced new contracts will not have fully kicked in for the above figures.

MOS tweet:
"Delighted to announce our revenue has increased 87.5% since December. Amazing work by the whole team to deliver that increase in just a few months! Lots more to come"
Note: "Lots more to come"

BB31 - I am also thinking along those lines re an RNS

missed one Rob:
100% working interest in West Rustavi fields.

By the way - not very impressed with the new poster's title.

Rob (Madman)

Q1 - What is the point of constantly saying PH needs to go ?
Absolutely no point at all - I am fully aware of all the historical failings as I know you are but none of us knows exactly what goes on behind the scenes and Block are in a far better position now than they were this time last year.

Q2 - If you were not invested would you now invest and why ?
Block have recently had some success with JKT-01Z and are now cash flow positive with all the building blocks in place to progress further. They have a mass of information on WR B1 acquired from not only the 3D seismic but also the previous drill, and they have taken the decision to go back and drill a further side track, so IMO the chances of success this time should be very good.

rxdav - If you knew that it "was a total **** show long ago" why did you not sell out long ago, surely with your foresight and intellect you must have anticipated the share was going to nosedive.
Anyway, I am back in and like Madmanrob looking forward not backwards.

I am thinking revenue figures are a possibility because we had them on the 1st December for preceding month and the 1st March will be 3 months on from there.

Alan - Don't get me wrong, I bought some more at 0.45 myself, but I am not the one posting a sad face. Anticipate some good news either before or during Investor Seminar next week.

Awax - Yep - Although the gas is not the main earner here it is nice to see that the flow rate has increased. I reckon that Block's total gas production for Q1 should be about double that of Q4 (2021) and if I remember correctly the price has now increased by about 30% for 2022.
Also nice to see that we are now producing oil at a "stable" rate. The well in the adjacent field has been producing for 20 years so I am quietly confident that JKT-01Z will be a good solid earner for years to come.

(Geowiz - Get your numbers right - It is you that is not stable)

I reckon the reason Steve is SAD is because he bought back in the other day at 0.45p??

JD-Nau
Good find that GP (Jersey) have been selling and have dropped off the list but does it not mean their holding could still be anything between 0% and 3%.
The people on the list below 3% are on the list because they are Directors of Block.

In the very last
Zac Mir Podcast
CEO Paul Haywood
Said JKT-01 is looking good.

City - Did not think of that possibility - One way or another I am sure there will news.

Just a hunch!!
Monday Afternoon - FOMO
Tuesday Morning - RNS Update
Tuesday Evening - Presentation