Member Info for Piscator1

A year and a day since we received this RNS: https://www.lse.co.uk/rns/BLOE/well-and-operations-update-h7j19utlvdzc1cg.html
They must be confident with this latest well to have laid a gas pipeline to the new well site back in April of last year: Construction of the pipeline from the WR-B01 to WR-38 wellsites, to enable the immediate monetisation of any gas produced from the WR-B01 sidetrack, has commenced…

Chesh, I don’t profess to be an expert but I would imagine that the operative is taking samples of drill cuttings from the recovered drilling mud for analysis in the on site ‘lab’ as per one of my earlier posts and this article: https://nightsea.com/articles/oilfield-geology-and-fluorescence/

Chesh, I was getting quoted 1.387 to buy just a small tranche in the last hour of trading and was being offered 1.26p for a million shares at that time, so I strongly suspect that there are some hidden buys we have yet to see. If they don’t turn up this evening they could well be presented as sells tomorrow if the stock continues to rise, so I hope that readers are forewarned and forearmed as there is clearly a strong demand for the stock at the moment.

Ah…you just beat me to it Chesh. Got to feel for the drill crew in that weather but at least they are still at it with a vengeance.

This can only be seen as a positive imho as freeing up a place on the board suggests that something is brewing with the M&A strategy. Possibly a cash injection from a company which wants to farm in to one or more of the assets and requires representation on the board.

Helpful, thanks for posting the video. That is very encouraging re:the prospective flow rate from the current sidetrack, but regarding this morning’s Twitter post I maintain that given the amount of snow in Tbilisi yesterday the video must have been recorded on Friday or Saturday and just posted on the first working day after it was received from the team in Georgia, as there not even a hint of snow in the video and the well site is almost certainly at a higher elevation than the Capital, and thus more likely to receive some of that snow.

The weather forecast is pretty dreadful too: https://georgiatoday.ge/weather-to-worsen-across-georgia-on-january-9-12/ so that might slow things down a bit, but at least we have the quarterly update to look forward to this week.

Helpful, if you track back to the tweet on December 16th they cut the sidetrack window then, and they’ve now gone down to a 7” liner so I think they must now be very close to TD. I think these tweets might also be lagging by a couple of days as there was heavy snow in Tbilisi over the weekend and it is not that far from the well site.

Imotakeapunt well WR-B01 ST is now very close to completion judging by the evidence provided by BLOE in its regular updates on Twitter. In the tweet on NYE you can see one operative in the field lab grinding up drill cuttings and one of his colleagues appears to be testing samples for signs of fluorescence using a stereo microscope as outlined in this article: https://nightsea.com/articles/oilfield-geology-and-fluorescence/. The outcome of this process will presumably by now have fed into the more advanced testing of the well, so not long to wait for results. We are due a quarterly update next week which will no doubt provide some initial indication as to the success of the sidetrack, and possibly the company’s quest to secure non dilutive funding for an expanded programme. The Q4 update should also provide further commentary on the outcome of well JSR-01 deep given that in the update on 21st December only reported the results of one of the three reservoir section that were to be tested.

All still to play for here imo.

https://twitter.com/trisseswe/status/1608405027810430981?s=46&t=Ctcf1040rUOefbeqa9SSSg

It’s also been tipped here: https://total-market-solutions.com/2022/12/12-oil-and-gas-companies-to-follow-in-2023/

Let’s not forget that they also inherited a laboratory for analysing well bore samples from Schlumberger plus some very well trained staff. The former save time and money in interpreting the geology and viscosity of liquids entering the well bore, the latter invaluable expertise of modern drilling and well intervention technologies.

As a company Block are constantly learning from what they have done and are doing, and I think it is now inevitable that their shareholders will reap the benefits from all this in the year that lies ahead imho.

They have discovered stacks more gold there recently so the update to the mineral resource should be enough to trigger the payment of the outstanding balance of $7.25m to Arc.

I don’t see that as a factor at all given the massive losses Russia has experienced in Ukraine. The last thing on Putin’s mind would be opening up another front in Georgia. Far more likely that the sp has been suppressed by Jindal pre-selling the stock that they must have known was coming their way imo. The fact that there were no big sells today suggests that the stock has now been shifted though, so I might treat myself to some more tomorrow.

Yes today’s video relates to the new well Chesh. Yesterday’s is testing of JSR-01 imo.

Chesh, I think the latest video relates to the testing of JSR-01 deep, and my hunch is that this is that they have been undertaking wireline formation testing, assuming that all the circulation material has been recovered. This article explains the process: https://homepages.see.leeds.ac.uk/~earpwjg/PG_EN/CD%20Contents/GGL-66565%20Petrophysics%20English/Chapter%207.PDF

It’s all about managing expectations imo. In other words don’t expect JSR-01 to be a gusher, but if it adds around 250 bbls/ day to production I’ll be more than happy as it proves up the business model and should seal a deal on the NDF.

Glad I added 3x50k tranches yesterday. The company seems to have had a plan to keep news flowing up until Xmas. JSR-01 comment confirms everything I have been saying and I think we might now get some results this side of Christmas.
1.24m bought already today is very encouraging too.

They need to employ bashers on a higher pay grade than Patpill. He can’t even string a sentence together. Maybe Gaelic is his first language?

Interview with TL now available here: https://youtu.be/I46G3X5WNTk