Member Info for Hepseal

"Additional interventions planned for Q3 include KRT-39, where surface facility upgrades are due to be installed, in order to monetise associated gas production that was previously flared."
If they are going to monetise oil & gas in Q3 as stated then construction of the connecting pipe back to the EPF at WR16 site will need to be well under way by now.
No doubt all will be revealed, one way or another, in the Q3 update.

Chucked out!

I do hope you are correct AJW with regard to construction of both pipelines as this would mean that we are really motoring on both fronts but I would point out that we have had no RNS announcement to specifically say that either pipeline is under construction or any photographic evidence of such. One thing is for sure, the Q3 Operations Update is going to be very interesting, one way or the other.

Thordon - I disagree, PD stated last Wednesday that "Further updates will be provided after the well is completed and initial well test results become available."
I would take "INITIAL" well test results as meaning something different to "FULL" test results.
I think the initial testing will be carried out prior to commencement of the pipeline and therefore if PD sticks to his word we will get an RNS announcement once the initial testing has been carried out in the not o distant future.

AJW/CP
Extract from last RNS:
"Further updates will be provided after the well is completed and initial well test results become available."

Note the word INITIAL.

Surely they would not construct the interconnecting pipeline to WR38 before they have carried out INITIAL flow tests.

Based upon the above RNS note from PD I would expect an RNS announcement stating INITIAL well test results prior to construction of the interconnecting pipeline and subsequent full testing.

I'll second that - excellent web site.

Excellent piece of work City
( I can throw my notebook away now!)

If they can do it in one country they can do it others.

Thanks CP

CP - Are you suggesting that they could be currently collating DATA etc for an imminent RNS announcement?
I have to say I was slightly surprised that reaching the TD appeared in the comments section of todays vote RNS rather than a separate announcement in its own write.

Stage 1 - It was not a "method of thinking", it was a fact, but you are correct that I did not present all the facts so I will try again.
2.25% of the TOTAL number of shares voted for the audit.
33.65% of the TOTAL number of shares voted against the audit.
64% of the TOTAL number of shares did not vote. (That apparently included the Shareholder group's 20%)

I know - nice of them to waste the companies time and money.

Just catching up.
So 6.27% of the total votes cast were for the audit.
That is ONLY 2.25% of the TOTAL number of shares.

BB - They did not say categorically there would be an update in August, what they actually said in the last RNS is as follows:

"The well is expected to reach total depth in August, at which point Block will provide a further update."

Who knows, they may hit total depth today (Aug 31st) and you get an RNS tomorrow (Sept 1st), but my crystal ball prediction is still 7.00am Thursday!!

I agree Tony, if there was negative news looming on the horizon I do not think they would dare hold on to it until after the meeting because the Shareholders Group would make an absolute meal of that - so I am feeling optimistic that we will get a positive RNS shortly after the meeting when the vote is all out of the way.

Must be Psychic Mal, my crystal ball says the drill update RNS will drop at 7.00am Thursday morning.

Looking forward to WRB1 update, good chance it will be this week and hopefully good news.
Would also be nice if we also had an interim update on the intervention / upgrade programme.

Maqsood7 - We were not just producing from WR38 during Q2 - We were also producing small amounts from approx 20 wells in Norio. Satskhenisi and Block X1(B) and these wells are also subject to an ongoing workover programme.

Not trying to be argumentative here but if they did not complete the drill until Tuesday 31st August we may we not get an RNS until Wednesday 1st September - Day of the meeting!

"They are going to abstain" !!!!!!!!!!!!
So they requisition a meeting and a vote which incurs costs to Block Energy and then they abstain from voting??
Note - Just because they say they will abstain from voting is no guarantee that they will abstain.