Sapan Ghai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
Yawn,yawn,yawn the wizard of CPR/Flow rates back again change the record. Definitely a cup half empty kind of guy!
Been here for a few years now logging in now and again. As for the negative wizard all you all get is CPR/Flow rates and water. Pity he wasn't invested in the company as all he does is put the company down. Yes the Soviets were here before but as they only drilled vertical Wells they hit very small reservoirs, were as with BLOE who drill horizontally they hit more pay zone. All Wells deplete!
The one big thing the Soviets didn't want is GAS, the gas which has never been produced which is why I am still here. BLOE has said the oil is the quickest way to easy money but long term it is the gas left in place.
DYOR and don't listen to the wizard......
I'm of the opinion we're heading back to WR-B1 for another side track. It wouldn't take long as rig site is already prepared. Some maintenance to be done on the rig then it's on the move. In one if the RNS's BLOE did say they targeted a different area containing less faults as this was thought to give more oil production. It seems to be in line with what they say that they now know what they're doing at last. They can leave the first side track in place and produce from both laterals when complete so let's go BLOE!
Awax, I don't think we have to worry about well integrity because this time we have a down hole gauge reporting real time pressure. It could also be the reason why the test is taking longer as you monitor the down hole pressure as you're changing the choke size at surface. I'm confident we have oil, we just have to try and be patient.
Thorndon, my thoughts exactly, 800b/d and why not as it's a brand new well not an old Soviet side tracked well. We'll soon find out why the take over crew wanted to delay the drilling and try to take over BLOE by the back, door!
Wasn't sure about a little top up but seeing the activity on the video I've just had one last top up. Must just say all equipment being used looks in really top shape! All bodes well for the future......
That big tank is the separator, which as the name implies takes the flow from the well and separates the oil & gas. To keep the wizard happy (highly unlikely) and any water, hence the different colour pipes coming out of it. Would have loved to have seen a pressure on the gauge they showed lol. At the time they were running wireline possibly to retrieve plugs set to hold back the extreme pressure of the reservoir while they install the xmas tree, not long IMHO......
I was thinking of a little top up at this price basing my decision purely on the new well. But as Hepseal has just said there is so much more going on with the workovers especially 16 its made the decision easy, top up coming.....
The good news is they have hit total depth and are continuing running the completion string. Brilliant news as they would not waste a few hundred thousand dollars running a slotted liner and tubing for no oil! We are drilling in a proven oil & gas producing reservoir after a 3D seismic survey has been used to pin point a new sweet spot in the reservoir. It takes time to run the completion and install BOP/wellhead, connect up test separator and lines. If PH or anyone from BLOE is reading this I know an RNS costs money but a twitter message showing the BOP or test separator being installed would be much appreciated?
Welcome back Dave/Mike31 missed your in depth knowledge of BLOE! Good things to come soon......
Calm down people, samples while drilling are at an educated guess are the cuttings circulated out of the hole. For a flow test through a test separator to get oil and gas rates they have a lot to do. The perforated liner has to be run in hole, set production packer, run production tubing to surface, install a production BOP/wellhead, connect piping to a test separator. As has been mentioned if they want to monetise the gas a gas line will have to be run...... All is looking very very good but I wouldn't expect any flow rate news just yet IMHO.
Exactly what I was thinking Sea7. You do not waste money by running a perforated liner into the ground for the fun of it. You'd be mixing cement for plug and abandon if it was a duster. Take you time BLOE, surely but steady wins the race. Exciting times ahead yahooooooo.
Don't get complacent ladies and gentlemen, every vote counts so please take the time and vote these Jokers out of town.......
Logged on with expectations of an RNS this morning, never mind must be close now. FYI most wireline tools can be run on drill pipe allowing wireline logging of any deviated/horizontal holes. Block only needs basic geology as it is a mature proven field and logging while drilling (LWD) will provide this.
Cannot get over these clowns saying the rig hasn't got enough horse power! This is an older style rig but I bet it has already successfully drilled a good % of the wells in the area deeper than we are going. BH are probably drilling with a mud motor so the rig doesn't even have to turn the pipe. It's like going shopping, shall I take the 80hp mini or 500hp ferrari, well they both do the job.......
Update must be sooooooon.
One more NED position left, where's AJ when you need him....
Onwards and upwards now, great result. Thanks to HR,AJ and others for the research you guys put in. Time for CV to pack his bags......
Just got a reply from LSE:
Please be advised to vote on a shareholding held in our nominee we will require confirmation of the account numbers you wish to vote on please and a fee of £20+VAT will apply per meeting, per account for proxy services.
Thieves everywhere wanting to steal our money, the only time I'll be using Jarvis again will be to sell and say goodbye!
I mailed my proxy form to info@bloe and W. McAvcok the CFO replied! They couldn't find me on the share register so told me to send it on to my broker. So I am now waiting very patiently for LSE to reply!!
Thanks Sooby, as someone has already said why can't the voting be easier for PI's! Maybe I'm missing something ??
My shares were bought here through LSE and held by them.