Member Info for SEA7

and magtalo...

the bakery then ends up with one large oven and one small oven. It also has one large and one small mixer. The stock price is lower, however, the cost of the items were financed from share issues.

Going forward the capacity of the bakery is now 1100 loaves and not 1000 and should generate more than its intial busines model. This in turn, should allow the share price to increase and then bakery looks to take over another outlet in another county!

hepseal...

look at the picture on todays tweet -

https://twitter.com/BlockEnergyplc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

You can see from the picture taken from the well 51 site, the separator tank at W38 in the background. Both wells are very close to each other.

250k share buy at 5p gone through now

boffer...

Others listen to Bill and the other bell ends on here and sell out.

Ha ha ha ha - that is great

so...following a thought pattern - that indicates that 38z is a high rate well and block just ain't saying it...

they said multi rate test with kit from the US....Schlumberger say...

Multi rate test.....Tests conducted at a series of different flow rates for the purpose of determining well deliverability, typically in gas wells where non-Darcy flow near the well results in a rate-dependent skin effect. Multiple-rate tests are sometimes required by regulatory bodies.

non-darcy flow....Fluid flow that deviates from Darcy's law, which assumes laminar flow in the formation. Non-Darcy flow is typically observed in high-rate gas wells when the flow converging to the wellbore reaches flow velocities exceeding the Reynolds number for laminar or Darcy flow, and results in turbulent flow. Since most of the turbulent flow takes place near the wellbore in producing formations, the effect of non-Darcy flow is a rate-dependent skin effect.

........

The fact that they felt that 38z warranted sourcing, shipping and installing test kit from the US, says that they are confident about the results achieved in my view.

any oilers on the board have any other views on the techie terms!

yep thanks bobby.

we are inching up though, which is a sign that the rns was well received, even if it was cautiously written

Rocklawn

16az is shut in - no current production
38az is on test - no production to speak of

The company is currently loss making without 16az on line at least.

After the 16az PR disaster, the market wants concrete proof of continued, revenue generating production before giving block some trust back, in the form of a higher share price based on forward expectations.

More tweets..

separator tank being used at 38z and a pic of wr51 site

https://twitter.com/BlockEnergyplc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

Sam Wahab, analyst at SP Angel, in a note, said: “An encouraging update from Block today, with the latest well producing to surface.

“The company benefits from an enviable acreage position in Georgia and West Rusavi represents a key strategic asset for the company, and indeed the country in our view.

“Next up, the company will continue with its drilling campaign specifically targeting the field’s primary oil-bearing Middle Eocene formation to further understand the reservoir dynamics.”

thanks ajw

you are correct! I stated wr30 and 03 to be sidetracked when I should have said "appraised"

djm - thanks

from the 31st october update...

WR-38Z is the second in the multi-well programme Block is pursuing to realise West Rustavi's oil and gas potential. The Company plans to sidetrack three other wells, and is currently acquiring a 3D seismic survey to provide a comprehensive understanding of West Rustavi's subsurface to facilitate the identification of optimal locations for future drilling.

.........

I noted in that update they didn't mention which three wells. I look forward to hearing a reply from your email to justin.

tweet

https://twitter.com/BlockEnergyplc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

djm

I had expected WR30 and WR03 to be sidetracked in H1 next year.

For me it was 16az, 38z then I expected them to go to WR30 next. It would seem that they are putting WR51 in next and then pushing the spud date for WR30 out a bit.

what they said in may of this year...

Two further wells, West Rustavi 30 and 3 will be sidetracked through H1 next year, and their associated gas discoveries tested.

do not forget that they have a lot of new additions to the team and this change to wr51 as the next sidetrack and not going further out to wr30 is likely to be with their input.

you are aware the the coupon of 8% is due in three days on the EUR loan notes on the Vienna MTF don't you.

That is about £250k

Andrea will have that cash ready from existing reserves and topped up with this placement.

16az - drilled - tick - shut in for the production facility updgrade
38az - drilled - tick - in testing
3d acquired - tick - being analysed.
production facility upgrade for upto 5k bbl/d - being undertaken

Yep - definitely getting on with the job.

they are implementing their business strategy as outlined...

over next 12 months

Drill horizontal sidetracks at three West Rustavi wells analogous to 16aZ to scale up oil production and fund future capital programmes
Appraise two of the field’s existing gas discoveries and drill a new gas well
Expand the field’s facilities to increase production capacity to 4,000-5,000 bbl/d
Acquire a 3D seismic survey to provide a critical understanding of West Rustavi’s subsurface
Continue existing Norio work programme and drill a new sidetrack

over the next 24 months..

Bring West Rustavi’s gas reserves into production
Continue oil development across all our licences
Secure additional licences in Georgia and the wider region

They already have a good understanding of existing and legacy data. These are proven, existing discoveries that have already produced and are being sidetracked into known productive zones.

The 3d will provide them with greater understanding of the subsurface in the west rustavi area. This will provide them with valuable data for future drilling locations - in other words, not into existing wells.

yep reckon so v111jas - :))

1979 world disco finals.. just for fun! Girls and Boys

hernandez - born to be alive

https://www.youtube.com/watch?v=kl1LP81eSKY