Member Info for Piscator1

On Google maps it is many miles to the east of Sartichela. Can’t you see that this poster is playing us?

Tbilisi97, on the 21st August you informed us that the current well was to be drilled in Sartachela, but we know from the recent update that the well is in fact located in the Patardzeuli oilfield which is situated well to the East of Sartachela. How do you explain that?

Fair comment Hepseal, but in the circumstances one would hope that they will report on each interval separately. That could do a lot to calm minds here.

This article is based on the regulatory regime in the U.K.: https://www.ukogplc.com/page.php?pID=100 but the Q&A relating to flow testing is just as relevant here. We should therefore expect news this week based on the pump being installed last Sunday.

Pat pill, it’s ridiculous to compare BLOE to FRR as the latter was saddled by debt, was up against a Government that was hostile to it, and ultimately a rogue Director. BLOE has no debt, lower overheads and very strong support from the Georgian Government, as evidenced by this letter: https://www.blockenergy.co.uk/wp-content/uploads/2021/08/SAOG-Letter-28Jul2021.pdf
I don’t understand why you are waffling about the IPO bedex. Oil and gas exploration is always a process of learning from experience and the latest RNS proves that they have done so when read in conjunction with the recent article I posted.
All still to play for here , which is why the trolls are doing their damnedest to shake people out of this stock imo ahead of what could be transformational news if this well delivers the goods.
Anyway that’s me done for tonight and I have a big and boozy day out for the rugby tomorrow so I shall leave you to carry on knocking it as it won’t affect my position a jot.

Where did I suggest that it was exclusive to BLOE?

OK let me help you then. The company is aware of the problem of loss of circulation material into fractures and seems to have adopted the following method to deal with it (courtesy of petrowiki.spe.org):
“ Use of loss of circulation materials
Rock mechanics and hydraulic-fracture theory indicate that it is easier to prevent fracture propagation than it is to plug the fracture later to prevent fluid from re-entering.[1] Because of the high cost of most weighted, treated drilling-fluid systems, LCM routinely is carried in the active system on many operations in which probable lost-circulation zones exist, such as:

“Rubble” zones beneath salt or in a known depleted zone
Natural and induced fractures
Formations with high permeability and/or high porosity
Vugular formations (e.g., limestone and chalk)
Using an LCM that can be carried in the drilling fluid without significantly affecting its rheology or fluid-loss characteristics facilitates the preventive pretreatment. Pretreatment can mitigate wellbore breathing (ballooning), seepage losses, and/or potential lost circulation when drilling depleted zones.

When a loss zone is encountered, the top priority is keeping the hole full so the hydrostatic pressure does not fall below formation pressure and allow a kick to occur. The hydrostatic pressure may be purposely reduced to stop the loss, as long as sufficient density is maintained to prevent well-control problems. Loss zones also pose a high risk of differential sticking. Rotating and reciprocating the drillstring helps reduce this risk while an LCM treatment is prepared. If the location of the loss zone is known, it might be advisable to pull the drillstring to a location above the affected area.

A variety of LCM is available, and combining several types and particle sizes for treatment purposes is common practice. Conventional—and relatively inexpensive—materials include:

Sized calcium carbonate
Paper
Cottonseed hulls
Nutshells
Mica
Cellophane
Because lost circulation always has been one of the most costly issues facing the industry, a focus on healing the loss zone quickly and safely encouraged the development of proprietary materials that conform to the fracture to seal off pores, regardless of changes in annular pressure. In some cases, such deformable, expanding LCM is pumped ahead of cement jobs in which losses are expected. This type of material has a comparatively high success rate for the prevention and remediation of severe losses.”

This seems to be consistent with the recent RNS and now that a pump has been doing its stuff since last Sunday we should not have too long to wait for news.

Just a gentle reminder that I was informed by the company’s broker that a pump was installed in the well last weekend. Since then David Burton of TMS put up this tweet on BLOE’s Twitter thread: https://mobile.twitter.com/search?q=%23BLOE&src=typed_query If it was untrue that the well was being cleaned up then surely BLOE would have asked him to take the post down. This is not a plug and abandon, it is an ongoing operation and I suspect that we will know the outcome in a week or so.

I’d be very surprised if you get a response from the company rlightor as their track record is not very good on that. The 940k buy we’ve seen this morning might be indicative of a leak though.

Thanks gemstar. Those who aren’t prepared to make the effort don’t deserve the rewards imo, although it was nice of rlightor to apologise. I suspect David Burton of TMS has also spoken to them as he tweeted this yesterday:
“The well is cleaning up, given the vast amount of losses incurred whilst drilling.
This is what happens!!
This is testing 101.
Price manipulation attempt from the BB crew??

#BLOE down 40% in a month ??”

Just back from my DIY shift but as far as I can see nobody bothered to contact the. Nomad then. Did anyone get a reply from the company?

In the past I have tried both routes but interaction with Nomads has generally been more productive.

Chesh, rlightor was clearly questioning my integrity in his post at 12:38. That’s why I strongly recommend that others speak to the Nomad or speak directly to the company. FWIW I have added two small tranches since speaking to the brokers yesterday. Am off to my daughter’s house to do some DIY now but will check back in this evening.

Chesh, this article might help the board understand what’s probably happening here, although I was not told which type of pump is being used: https://www.pumpsandsystems.com/electric-submersible-pumps-oil-and-gas-industry

rlightor, rather than continuing to question my integrity why don’t you just phone the Nomad? I’ve not spoken to this one before but over the 25 years I’ve been investing I’ve found that most are quite approachable. Start off by telling him about Tbilisi’s post and the effect this had on the market yesterday.

He’s the broker, not the Nomad, Chesh! The Nomad is obliged to listen to shareholders if there is an issue about the market being misled, the broker is not so I just got lucky yesterday.

Call it a slip if you like Chesh, but the installation of a pump is hardly newsworthy is it? I’m happy to try calling the Nomad again for further clarification re: Tbilisi’s claims but I’d prefer someone else to do it as some seem to be questioning my integrity. Go on someone just pick up a phone, you’ve got nothing to lose.

On the contrary Rocklawn. I often call a Nomad when I have concerns about information released by a company or when I’ve seen very dubious postings on a bulletin board. Some are more approachable than others though, so no harm in anyone trying.

The Nomad being the normal interface between the company and the market aka shareholders or traders.

Rocklawn, if you bother to read any of the company’s news releases you will see contact details for the company’s Nomad, broker and financial PR. Peter Krens is the company’s broker not mine. All three of the named individuals were in meetings when I called yesterday, so I ended up speaking to Peter Krens’ right hand man at Tennyson. Why don’t you give the Nomad a call and hear what he has to say?

Hepseal, there’s a simple answer to that. It was not libellous or defamatory, just downright misleading. The broker said that a pump had only been installed 2 days ago (now 3) and we should not expect well results for at least a week, so everyone just needs to calm down a bit. FWIW, the 400 trade is market maker code for ‘trade it sideways’ so it seems that they haven’t got a clue about the outcome of this well either.