Member Info for Madman-Rob

No, but it's not a massive operation.

Main thing is that's it's underway.

Happy to hear other viewpoints on all things panr!

I'm trying to learn as much about what this company is doing.

Must be well underway by now.

The programme of operations to achieve the three primary objectives includes:

1. Make well safe in preparation for operations

2. Run a plug to isolate the Alkaid ZOI below the SMD horizon

3. Perforate a limited section to ensure injection pressures are high enough to propagate the frac lobes horizontally as desired

4. Pump 11,000 bbls of water and 400,000 lbs of 100 mesh sand

5. Flow back slowly to prevent or limit gas flashing in the reservoir (i.e. exsolving from solution in an uncontrolled manner) in order to gather the most representative fluid samples possible

6. Monitor pressures throughout to assess frac efficiency and original reservoir pressure.

31 August 2023

Block Energy plc

("Block" or the "Company")

Successful Completion of Drilling Operations on well WR-34Z

Note the date of the completion of drilling, Rig was made available for the next well or for project 3 work.

Question, why is it taking all this time to get going as we clearly have finance?

PH writes on 2nd November last year:

Project III workover and retest candidates are being selected. An update will follow when operations commence. Great but that's getting on to a year ago.

PH writes today.

Looking at starting project 3. Question, when?

On the next well PH writes looking to start next well. At least 3 times we get the looking forward to starting.

Question, when?

The Q3 results was good as was the last well result.

If news drops the market responds.

With no news the investor move their money elsewhere. The next drill will take 3 months before we know the result. Other than an excellent entry point there is nothing to entice investors, other than a long term hold.

I see great potential but the timing is way too slow for my investment strategy. I hold what I have but even with a low entry point I'm not prepared to wait or invest at this point in time.

A few have today and it is a good time if you are prepared to wait. I've put a strong buy as I believe in the general health of this company over a long term.

Over to you Paul to prove me wrong and issue RNS's that will send this share to where it should be.

Sorry if it's a bit of a rant but hoping directors read this BB. They did mention the 1000boepd milestone. That was only meantione on here. So they do read our comments sometimes!

I think it will take a little longer. To get as much data as possible you need to proceed slowly.

Once they have finished the initial testing they will want time to analyse what they have.

Very interested in what people think the next step is?

Jay Cheatham, CEO, said: "We are pleased that operations for the re-entry at Alkaid-2 have now begun. As stated, we are not targeting maximum flow rates, instead, this programme is designed to allow for as much data gathering as possible. Whilst the location of the Alkaid-2 well is not ideal for the shallower SMD horizon, the Company was pleasantly surprised to have logged oil pay when drilling through the SMD en route to the primary target, the ZOI. This has provided a low cost option to assess both the productivity of the shallower horizon and test our improved frac design."

2nd November last year.

Project III seeks to appraise and monetise the 860 BCF of contingent resources, identified by Block's technical team, across licences XIF & XIB. Natural gas produced from a successful Project III development will support Georgia's growing domestic energy market and be suitable for export to Europe via Turkey.

The work programme for Project III includes 3D seismic interpretation and correlation of seismic attribute lineations with legacy production test data. The Company has upgraded its service rig to support the advancement of Project III with low-cost drilling and workover activities. Project III workover and retest candidates are being selected. An update will follow when operations commence.

Solid result.

During the quarter, the Company's financial position continued to improve on the back of strong sales and a higher, relative to last period, oil price. This ongoing improvement in the Company's cash position will drive additional work across its various projects, with an immediate focus on Project III.

At this moment in time there Is no projects with documented time scales and start dates. Imediate focus sounds good. But the market wants start dates.

Potential is there but until they start a project it will just be potential.

We have some finance so why no firm news on pad work or confirmation that all long lead items are in stock for the next drill?

The market needs news.

From SDX a few days ago.

"The drilling rig will now be moved off location".

Rigless testing MOU-3 using conventional perforating guns is currently forecast to begin on or before 16 October 2023, assuming that the wireline logging unit is released from its present contract on or before 10 October 2023. The Company will provide an update if there is any change to this date.

Predator are saying they are confident.

Respected posters like Jimmy, Keith, Wacky, Graham, BVR, along with many, more knowledgeable posters, are all sounding optimistic.

They are writing encouraging things and publish research to back up their opinions.

The potential is massive. Always risks but this is a share I'm very happy to hold.

The share price has not responded due to not having the testing officially announced as started.

But it will start very soon.

The share price is reflecting a market that is waiting.

I'm happy, I got in early and have patiently waited for this moment.

The countdown has started.......

Tik toc........

Waiting for the Lonny tweet ........

You know it makes sense 😂 😁

I'd rather read this. Is there not any research or previous documents that people can share ??????

Objectives

The Alkaid-2 re-entry has three primary objectives:

(i) to gather the best possible reservoir fluid samples for pressure-volume temperature ("PVT") analysis;

(ii) to determine initial reservoir pressure; and

(iii) test the improvements in the frac design discussed in recent Company webinars

The objective of the operations at Alkaid-2 is not to target maximum flow rates. Pantheon will deliberately restrict the flow rates to minimise gas production into the well bore and allow optimum data collection.

Re-entry to assess SMD

The Alkaid-2 well was positioned to target the Zone of Interest ("ZOI") in the optimum location and is on the edge of the mapped SMD reservoir. Notwithstanding the thinner SMD interval at this location when compared to the core of the Ahpun Field, the well encountered encouraging hydrocarbon indications en route to the deeper ZOI.

The programme of operations to achieve the three primary objectives includes:

1. Make well safe in preparation for operations

2. Run a plug to isolate the Alkaid ZOI below the SMD horizon

3. Perforate a limited section to ensure injection pressures are high enough to propagate the frac lobes horizontally as desired

4. Pump 11,000 bbls of water and 400,000 lbs of 100 mesh sand

5. Flow back slowly to prevent or limit gas flashing in the reservoir (i.e. exsolving from solution in an uncontrolled manner) in order to gather the most representative fluid samples possible

6. Monitor pressures throughout to assess frac efficiency and original reservoir pressure.

24 posts about the same person . Wtf .

You are all totally controlled.

You will see that real investor will be critical and will not hesitate to voice their opinions. If we are not happy we will say so and give a reason as to why.

However the big difference is that we will also balance viewpoints with the positives. Like the record production and profits in Q3. Does not mean we are necessary happy.

Bottom line is if I don't like the risk then I will sell.

A troll is unable to do that. Why they can't is their problem. They are not even shareholder. Weird or what ?

It's why I filter.

Agree boff.

Block Energy are going to show a healthy position. That's great. But we need more information.

There is nothing happening on the news front that they are making public.

A new drill will be at least 3 months before we got the results.

It's super frustrating.

They should be making money and should be ordering long lead items. They should be doing pad work. Are they ? None of us have a clue.

The part 2 interview was quickly forgotten as there was nothing other than fancy talk.

However, I'm still invested here and will probably add at some point in time as I can still see a return. But first they need to show intent.

Thanks BRV.

If SDX are Indeed the company that were using the kit then it looks likely that there will be no delay to the start of the testing program.

Great news and once it filters down though the market that Predator are testing we should see buying pressure.

Lonny:

Any chance of a twitter tweet or photo?

Market Capitalisation £7.79m

Share price 1.075p

Annual revenue 10/12 mil

Record production on Q3.

It's easy to get locked into negatives.

The above figure show an imbalance between turnover and value. We all know why.

Q3 will be solid but not enough for the market. A fall off in production can only be overcome by better well management and more importantly, adding additional wells.

Q3 will tell us exactly were we are.

It's all down to making enough money to push ahead with the quick return wells.

Projects 3 and 4 will certainly impact the value. But nothing confirmed as to when they will start.

Things should be starting to happen.

Rigless testing MOU-3 using conventional perforating guns is currently forecast to begin on or before 16 October 2023, assuming that the wireline logging unit is released from its present contract on or before 10 October 2023. The Company will provide an update if there is any change to this date.

Do we know who is currently using the wireless logging unit ?

If the testing is successful then current share price will be a distant memory.

Tic tok .......

The problem with challenging is the troll will respond with ever more provocative posts . This will then encourage even more responses. The other day there were 17 posts in a row all about one individual. A newcomer will not learn anything about panr reading that kind of thread.

My humble opinion is to change the thread titles . Never use the posters name and simple state facts without reference to the trolls posts.

Over on predator he tries to dominate in the same way as he does here. We tend to ignore the cringe and post documented facts .

Troll love arguing and hearing their name.

Trolls hate facts and not getting responses.

Are we thinking that our yearly turnover will be around the 12mil mark ?

If so what profit would be available for reinvestment?

Oil prices are certainly going to be higher for a while.