Member Info for Hepseal

Sambar - quote -"can't see how this will happen while the bod appear to be just spending their limited time dedicated to Sabien Zoom chatting with buddies on their easy chairs."
So please explain, if that is how you see the extent of input from the bod why exactly are you here??

"horizontal drilling was carried out in three existing wells and we have quite significant results on these three wells"
Presumably referring to existing wells WR-16aZ, WR-38Z and WR-51Z(abandoned)

"is working on a renewed well"
Presumably referring to upcoming horizontal drilling on JKT-01

WR-B1a does not appear to be mentioned.

Sambar - quote below: "And don't forget that he's very well paid for a part-time role. £750k pa I reckon."
As already discussed, RP salary for last year was £75k, NOT 750k

Holdit - Well at least Sam agrees Dr Athan Fox is an interesting chap which of course he is.
If anybody has not done so would suggest you check out his Ever Resource website and associated small companies, cant help thinking the collaboration here will be mutually beneficial to all parties. It appears Dr Fox was in fact involved with City Oil Field prior to Sabien.
Also, if you listen to the Richard Parris Greece interview can't help thinking the section between 7 mins - 9 mins may have been in part about Dr Fox.
Just my observations, thinking out loud, DYOR

Maqsood7, I am afraid you are not getting $65 boepd for the gas.
Using your method of calculation for the oil:
233*65*360=5.53mil*0.75= $4.15 million.
plus gas @ $159,000 per quarter = $0.64 million
Total oil and gas (based on Q3 production figures) = approx $4.8 million

Maqsood7 - I think your $8M is a bit out for current production.

Oil production for Q3 only averaged 233 bopd and gas revenue was only $159,000
Furthermore. not all the oil belongs to Block Energy, see below quote from Financial Director:

"Not all of the crude oil produced by the Group belongs to the Group, because, according to the terms of the Production Sharing Contract for each licence block, the state of Georgia is entitled to a share of the produced oil."

As Sam was concerned about the number of hours in the day the CEO could spend on Sabien I attach an extract from the last Annual Report regarding the Management Team:

"Management strength in depth is critical to bringing strategic initiatives into operational success. During the year under review, Sabien has strengthened its management team with the appointments of Ed Sutcliffe as Chief Financial Officer, Danny Mills as President of the U.S. subsidiary, Sabien Inc., Dr. Athan Fox as Chief Scientific Officer, Tom Sprunt as Managing Director (non-Board) and Ranald McGregor-Smith as non-executive director.

Mr. Sutcliffe is a Chartered Accountant and brings a wealth of private and listed company experience to the board. Mr. Mills is a US-based investor and technology operator who has worked with Sabien's leadership for a number of years. In combination with Richard Parris' work in US markets, Mr. Mills provides the necessary experience to benefit from President Biden's Plan for a Clean Energy Revolution and Environmental Justice. Dr. Fox's experience encompasses organic chemistry, intellectual property prosecution, technology transfer and fund raising for research, technology and innovation. Through Dr. Fox's work, Sabien is confident of a value-creating entry to the waste-to-energy market. Mr. Sprunt has many years' commercial experience in the boiler management industry. Mr McGregor-Smith is a corporate financier whose experience at senior level within a number of key financial institutions will be invaluable to the Company as it develops."

One sentence in particular caught my eye:
"Through Dr. Fox's work, Sabien is confident of a value-creating entry to the waste-to-energy market."

SamBar
What is all this about a "£1m pro rata salary".
If you have a look at the 2021 Annual Report you will see that Richard Parris was paid £75,000 in the last year.

MTI Wireless
Headquartered in Israel, MTI is an AIM-listed technology group (AIM:MWE) focused on comprehensive
communication and radio frequency solutions across multiple sectors through three core divisions. In
March 2021, the Company acquired 250,000 shares at a price of 80p per share and total investment of
£200,000. The Company’s total holding represents 0.28% of MTI’s issued share capital.

RNS 15th Sept:
"As a result of the excellent progress made by Quanta, the Company has agreed to make the second £250,000 available to Quanta, on the same terms as announced in March, in four tranches from now until December, subject to achieving various agreed milestones centred around technical and commercial progress in the Dutch market."

"Well that was quick"

They obviously read your post Clive and have been working through the night!!

COP26: Sabien hosts Green Economics Debate

"Sabien steps on the GAS"

Sabien announces today that it is hosting a virtual debate on the Green Economy and launches its Green Aggregation Strategy ("GAS"). The event will take place on Thursday, 11 November 2021.

And the majority of the MOS BB had a similar view 9 months ago.
Fortunes at MOS picked up after he left.
Hopefully the same will happen here!!

Agreed CP - As an ex self employed small business person if I had only done 50% of the job I would have been paid zero.

CP - The problem with the "two months" figure is that if WR-BA and JKT-1 are proved to be commercial they will then have to first construct the two respective connecting pipelines across country to connect to the EPS before commencement of proper production so I would envisage that would take you into the new year. All this against a backdrop of diminishing oil inventory and cash in the bank.

Roleybirkin - Not exactly rocket science but I am thinking the same as you, an RNS at the beginning of next week reporting on the points you mention.

Don't forget the ongoing discussions with Proton who incidentally were also presenting in Greece.

From recent RNS:

"Sabien is keen to understand the potential for its waste-to-fuel process being deployed in conjunction with Proton's hydrogen production technology."

Sea7
As you probably know I had many, many arguments with AJW over the last 18 months over basic facts & figures as I believed many of his statements were either incorrect or selective information, however AJW did always vehemently deny having any contacts within the company and on that point I did actually believe him. In fact if he had a contact in the company I don't think he would have been so widely out with some of his predictions.
I did think that he had removed himself but if that is not possible then Thordon / Bedex's theory of a complaint by an "alleged basher" or even the "concert party" makes sense.
Strange that the last 12 posts (mine included) have been about AJW and not Block Energy.

My thoughts are that he has finally worked out what is going on and he does not want to be around when the s___ hits the f___!!

City, looks like your mate got the best price - but both slightly better than mine yesterday.