Member Info for Hepseal

And when you also take into account current oil / gas prices we will have doubled monthly revenue.

rxdav:
"Why is the share price so low?"
For all the reasons you mention, I agree with you, that is why I sold some of my shares after the Q1 update and the remainder after the Q3 update, all documented on this chat board, surprised you did not do the same.
"Why is the current share price such a bargain?"
JKT-01Z is targeting 550 bopd and if they hit that figure Block's total oil production will treble overnight. I believe this could happen and that is why I am here.

With reference to meeting with Proton (Grant Strem is Chairman / CEO) and the need to exercise warrants by 2nd Feb to acquire Bonus warrants I think there is a very good chance we could get an RNS with news on Monday or Tuesday.

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"

rxdav: Point taken re PH - just trying to give a bit of balance but lets leave it there.
Bottom line is looking forward to the JKT-01Z results. We have a vertical well KRT-39 in an adjacent field that has been producing for 20 years or so. JKT-01Z is a horizontal well so if we hit the right spots it could be several times more productive than KRT-39. All we have to do now is wait for results.

rxdav - Most of us here know that Bloe have not produced good flow rates to date, I agree with you, but that situation may very well change very soon, and that is why we are all here. My point with regard to the gas infrastructure was not about the gas as such, it is a means to an end to be able to monetise the oil. JKT-01Z is basically an oil well so the gas is almost incidental but has to be dealt with to avoid flaring.

rxdav - Presumably you do actually see some light at the end of the tunnel or otherwise you would not be hanging around for the share price to rise.
PH has had a lot of stick from many, including myself on occasions, but he has delivered a couple of very important items.
The Schulmberger acquisition - to enable the drilling of the current well JKT01
The EPF and gas infrastructure - to enable JKT-01, and subsequent wells, to be connected up and monetised.
GLA

HOLDIT / DJP4976
Agreed, Agreed.
Looking ahead, lets not forget that the exercise price of the Bonus Warrants will be 45p

Holy - You may be proved correct however I have a feeling it may be sooner than that.

Total Market Solutions - David Burton - tweeted the following on the 10th January:

Podcasts lined up over the next couple of weeks or so include :

#BLOE

Two weeks or so from the 10th January !! - Would not have thought PH would have been doing an interview prior to flow results - we will have to wait and see.

Sam - I agree in theory the share price does not have to be any particular level to exercise but in practice the warrant holders will need the share price to be above 30p by an acceptable margin in order to give them the incentive to exercise. It does not follow that they will necessarily flip them if they like what they see.

Hi Rob

Taken at face value I think the following PH sentence in the last RNS may help answer your questions:

"If JKT-01Z proves to be successful, side-track operations funded by production revenue will be initiated back at WR-B01, adopting the same geological approach employed at JKT-01Z."

So they hope to be able to pay normal running costs plus pay for the additional side track out of production revenue.
If WR-BOI is then also successful they should then be making a reasonable profit.

So Sam, in order to bring some cash in from the warrants as you suggest the share price will need to rise in order for warrants to be exercised and for the share price to rise there will need to be a good news announcement during the next two weeks - glad we agree.

SamBar
Perhaps looking after the warrant holders is actually the correct thing to do on this occasion. If there is a significant market announcement on the horizon then it would not be fair to make that announcement a day or so after the warrants expire. So I agree with Earl of Aim, a significant announcement is probably imminent hence the reason to extend the deadline.

Block's existing average oil production in Q4 was 273 bopd
JKT-01Z is targeting 550 bopd (from corporate presentation)
If they hit half that figure Block's total oil production rate will double.
If they hit the target figure (550 bopd) Block's total oil production rate will treble.
GLA

Strange the share touched 0.7p on the 30th Sept when we only had nominal revenue but no real concerns here.
Revenue growth is excellent over the last three months with lots more to come.
GLA

Cheers MM

Steve, the RNS states:
"IGS has committed to deliver minimum revenue to MOS of US$720,000 over the first six months"
There seems to be an assumption that this revenue will come in at a uniform $120,000 per month but the RNS does not say that - it may come in on a sliding scale with a smaller amount in month 1 rising to a larger amount in month no 6.

Spot the deliberate mistake in last post - £735 should read £735,000

Jabber - Please stop this scare mongering about funding - I assume you are talking about the Krunch acquisition - The first 49% of the company was acquired for £735 comprising £500,000 in cash and the remainder in shares. If you read the terms of the acquisition I suspect the remaining 51% will be acquired on a similar basis, but they have until March, 2023 to complete the acquisition and the Quanta loan of £500,000 is due for repayment in December, 2022 - one option. As already stated, cash at bank currently £1.4M and monthly income rising exponentially. I don't see a problem.

I am sure there will be an obligation to make revenue / market announcements in a timely manner, i.e. if the revenue figures are very good, which we all hope they will be, it would not be appropriate to announce that information the day after the warrants expire.