Member Info for Hepseal

Holy / Bobby - Good discussion, I agree with you both that the next well is probably the most important in the company's history for the reasons stated. I will be looking out for the Q1 Operations Update in due course which hopefully will confirm that there has been no significant decline in JKT-01Z production rates. GL.

rxdav - number of sidetracks?
If cash flow is the main consideration it is going to depend largely on if the next well is a success or not, so:
Worst case: If next well is a failure then that may be the only well actually completed during the calendar year.
Best case: If next well is a success producing similar revenue then a total of 3 side tracks could possibly be completed.
As you say, very broad brush!!

rxdav - Just listened to the podcast and agree with your appraisal.
It was good to hear that they have no plans to go back to the market for funds, however contrary to what some posters think I do not think they will have an abundance of cash at their disposal.
According to my sums, there current revenue is now about £9.5M pa but based upon statements they have made previously I reckon there running costs are about £5.5M pa so as you say the next side track also needs to be a success.
GL

Well folks, it now looks as though we won't get a news announcement this week as anticipated.
So I would say Monday morning is now favourite for an RNS.
(Period for exercising warrants was extended to Wed 2nd Feb (25% to qualify for bonus warrants -read RNS) / Fri 4th Feb.

Maqsood7
I am going over old ground here but I still maintain that Block's current revenue is approx $13M pa and not $14M pa as you keep stating.
This weeks RNS stated that the revenue from JKT-01Z will produce just under $500,000 per month at todays prices which makes just under $6M pa.
If you then pro rata and add in the Q4 production figures at todays prices that makes approx $13M pa. (£9.6M pa)
I really don't care if you believe me or not but unless you can prove otherwise those are the figures I am working to.

Only "blindingly obvious" if there is no news. Lets see what happens in the next couple of days.

Scotty - A very valid point - employees / suppliers shares are a substitute for wages, etc so many will need to cash in to pay the bills on a regular basis, however some may have delayed until now knowing there was the possibility of a higher price in January.

Earl of Aim - Agreed, certainly don't mind if you are correct.
Jh2704 - Thursday RNS!! - In view of the warrants timetable I would put money on it.

Earl of Aim - Hi
I've joined the dots but my dots are slightly different to yours.
From R Parris - Jan 10th
"looking forward to welcoming Grant and Seta of Proton Energy back to the London this month to progress next steps in low cost clear hydrogen production in the UK. Great people, compelling technology and exceptional opportunity"
So I reckon the announcement may revolve around Proton and relate to the UK.
Incidentally, Grant Strem (Chairman & CEO of Proton) and Seta (COO) also did a presentation in Greece, separate video, and were in the audience listening to Richard Parris. Plenty of dots!!!

Chesh - I am just on my way out at the moment so in a bit of a hurry but if you have a dig around on the "Block Energy Support Group" web site if I remember correctly there is a correspondence section somewhere that gives a list of the "associates" either mentioned and/or copied in on some of the letters - Hep.

Chesh / rxdav - Hope you don't me butting in.
Below are the 3xF's current holdings but they also have "associates" who were in the action group who also had holdings and I guess still do.
Mr Alastair Ferguson 29,494,242 4.52%
G.P. (Jersey) Limited 22,367,231 3.43%
Global Prime Partners (Jon Fitzpatrick) 21,616,264 3.31%

ok - so this may be your only post then!!

With reference to the Share Options RNS 5th Jan, 2022 Block now have on board a Chief Legal Officer, Chris Boffey, who based upon the number of share options granted appears to be earning almost as much as PH.
WHY ??????????????

Pinched from twitter:

don't forget the mega news coming from #SNT @SabienTech
#GreenHydrogen #GreenEconomy
hint given on LinkedIn and the Warrants 45p, 60p delayed to Feb 2022, which points to a big deal

Well done Hull - I topped up as well but I did it a little to early so not quite such a good price as yourself - still happy though and as you say will soon be going back up.

Thordon - Sorry mate - Wires Crossed - I thought you had added a nought on to my annual revenue figure - something totally diffferent.

Maqsood7 / Angelis
Extract from Q4 RNS:
"During Q4, gross production (including the state of Georgia's share) was 34.6 Mboe comprising 24.9 Mbbls of oil and 9.7 Mboe of gas."
Note - "including the state of Georgia's share" - Block Energy DO NOT get paid for all the oil they produce - I have had that confirmed in an e mail from the CFO.
Block said in todays RNS that the revenue from JKT-01Z will produce just under $500,000 per month at todays prices which makes just under $6M pa.
If you then pro rata in the Q4 production figures at todays prices that makes approx $13M pa.

Hi Thordon - Yep. its on those lines but Angelis, you do not need it, just study the oil / gas / production / revenue figures in todays RNS and pro rata in the production figures from the Q4 operations update RNS and you should come up with a similar figure.
Thordon - you doing a bit of ramping mate, $130M ???? Ha, Ha.

Maqsood - I have posted this again because I can see the previous thread being taken down for obvious reasons.
Maqsood
Quote - "Which gives revenue of 14-15mil with current higher prices!!"
I think your figures are a bit high, I make it more like $13M pa
Based upon Blocks figure of just under $500,000 per month for JKT-01Z + pro rata amount for other wells based upon Q4 production figures, 380 boed (273 bopd/107boepd gas) - Don't forget State of Georgia get a share of the oil.

R Edwards reduced from 5.01% to 4.62% on the 13th Jan - Still has a significant holding.
With reference to the last few posts re the warrants and Proton I am anticipating an RNS within the next couple of days so a bit surprised to see the share price drifting today. GLA