Member Info for MB11

Thats a chunky buy before close reported

New Zack Mir charts, target 6p end of next month, then to 10p-11p

Big buyer in the background

NT to buy now for any amount

Set to move, buy limits kicking in now for volume.

Mike Struthers, CEO
“We're optimistic we can add significant value to Eclipse in a relatively short time”

Plenty of buys coming in

Topped up, once the seller clears this will move quickly

Primed for a move

I think a few russell are hovering hoping for a final top up :-)

The first phase started Oct 20 and they filtered out first batch 28 Oct

4/6 weeks to complete 40 holes

Updates along the way

250k left at 4.13p to buy then 4.27p for 260k

Shares getting nibbled up here while quiet

The stock is getting tighter, this will move very soon.

These guys at Empire are onto it and will be a constant flow of news.

It is an accumulate while quiet, this will soon get lively as results flow.

These guys at Empire dont waste time

In the RNS also mentioned oil production at the same time restored

This news and progress is exactly what we wanted. This sp wont be at this low market cap for much longer now.

Getting the Schlumberger deal cross the line will be a major transformation point for the company and the share price going forward.

In addition Near getting the gas online at the set Gas price of $5.24/mcf, with local gas purchaser Bago is investing in the pipeline is also a major development and source of regular income.

Net gas revenue at current flow rate will be $120,000 per month, $1.44m year one for the gas alone hopefully. More importantly investment cost is in, concept proven and will be a basd to build. Georgia has a relatively robust gas market.

In addition will be the oil production from West Rustavi and the Schlumberger current production, circa 500bopd into the coffers.

Exciting times ahead

A 100% increase puts the cap at £24m 6p

A 200% increase puts the cap at £36m 9p

The gas production from West Rustavi and deal coning up is huge for Block and increases the licence area the company will be operating from 82km2 to 2622km2. Most importantly it takes the 2P reserves from 3m boe to 67m boe, with 2P contingent at 210m boe and immediate combined Oil and Gas production in early 2021 to around 500 boepd.

There is a huge amount of capital investment by Schlumberger into the 2,622km2 to the tune of $133m which go towards the favourable terms they will gain going forward.

An immediate combined 500boepd when conditions facilitate is a very solid income base for the company to exploit the licence area going forward.

This will not be £12m much longer as the company over the next few weeks early Jan become operationally active once again. Gas and oil production from West Rustavi, coupled with the Schlumberger immediate production. The current price is hibernation, the market will take this higher over the next few weeks.

Getting the gas Q4, the EPF can supply up to 3 MMCF/d and can also moving forward be expanded with inlets for four additional wells.