Member Info for Madmanrob

They did not at any time say at least 300bopd as that would not be allowed .
Was just a general chat on how to best maintain a well and used that figur as an example .

Prawnsacrifice . My chat with bloe was on using 300bopd as an example as it gave them a break even .
They can produce a lot higher and it is then a sum between pressure of well and how long they want to use it.

Not all well are successful and even with modern technology some simple dont work or have problems. That's is the nature of geology and oil wells
My interpretation on PD comments when talking about wells in general .

That's why they raise funding so that the chance of success would be high
PH hype helped us get the placement funds and have given us the breathing space to get over the hurdle that was 16aZ
Over the next few years some wells may not work out as expected but overall they should in total give a good return.
The gas is not as much of a problem with seperation from water as the oil is.
Bloe are very keen to manage the wells and get a flow rate that does not encourage water ingress and gives a longer life time return . He explain how different pressured work . They could achieve massive bopd but water would soon become a problem and well would run out .
I think they want lots of well producing moderate amounts but just my take on that . We talked about 300bopd as a good starting point as in one year it pays for its self . But of course everyone wants more .
What was clear is their desire to start getting money into the coffers .

Makes no sense . Two positive RNS and a 10% drop .

Main thing I got out of them was that we will stop.flaring the gas and start selling it by Xmas

Thankyou Hepseal.
I got a positive vibe today .
PH is a salesman so not easy to read . PD is and old school gentleman and we talked a lot about bloe and Oli and gas in general..
Was happy with what I heard

Ha ha yes bill good plan

Hi Bill
Was hoping you had come as I wanted to see you arm lock PH !

My comments to the directors was, it was a PR mess in how they held back and fudged what was happening . Yes we all know the reasons . So please don't twist my words

Everything I learnt from my conversations with block energy directors point to a very positive outcome for bloe.
As for fall I have not got a clue but know my share value will rise over time

Gut feeling from.Philip Dimmock was one of confidence and learning from PR mess on 16aZ reminded that the oil and gas is there and lessions learnt from that well have been used in new design . Slotted liner can be shut off in certain sections if too much water is leaking in .
This is a great share to hold and just give it time .
I was happy and will continual to hold and feel confident that I will get excilent returns

Buy out not ruled out and got a big smile on that .
Had a lot of small talk and reminded of fully funded programe.
Philip says that most shareholder are not selling.
No more finances needed .
Climate is okay in winter but rain makes the roads muddy at times and hence the need to connect to main pipeline .
Georgian gov are surpportive .
Next drill getting underway .
That's about it !

There was some drilling fluid lost it well but normal.
The amount of oil they will produce will be dependant on the pressure as too high and water will start to come out as well. They also want to have a stable constant production . So Bopd will be a combination of decided on . 300bopd will give pay back in one year . All wells have water and over time can effect output.
16aZ they will continual to look at improving but have not ruled out a new pipe.

Miton are still a major holder .
Gas flaring:
It is blocks intention to start selling the gas ASAP they have to get I think a refrigeration unit and pipeline in place . They want to sell the gas and Paul say that Xmas time should see the start of gas sales .

Philip says that the long term plan is to connect the oil directly into the main pipeline . This would then have a meter in place at the storage unit . At the moment they would have to load to tankers .no oil sold yet .

Had a very long chat with Philip Dimmock and a short chat with PH . Told him I had to arm lock him as get info. Got a smile on that . I spoke to all directors and the PR man.
Told them we felt let down over info on 16aZ . They admitted that they need to improve on that side hence the new PR department .
Ok will report but remember I may not be entirely correct as it was a lot to remember

Will chat to PH over a coffee and try and get an off the cuff comment

PH re-elected 99%

Flow rates to be accessed but no time scale

Storing The oil

PH say no placing and fully funded