Block Energy Share Discussion Threads

[babbler] 05/10/2018 14:09

Yes. And all buys but shown as sells at 3.09.

[novicetrade68] 05/10/2018 14:01

Still somewhat surprising to see the share price at these levels, they raised a decent sum I thought, wasn't it 5m pounds or so and placed at 4p.

[babbler] 05/10/2018 10:26

Finally ticking up.

[babbler] 05/10/2018 09:18

Imminent production ramp up. (q4)

[babbler] 05/10/2018 09:18

$600m potential.900 bopd within 18 months.Fully funded.Gas on top.52 week low...Just under the radar imo.

[thomas11] 05/10/2018 08:57

Looking for a good entry point. IPO's are usually overpriced IMO

[babbler] 05/10/2018 08:13

In. See how it goes. This share is utr imo.

[babbler] 05/10/2018 07:57

Mou signed.

[bad gateway] 04/9/2018 11:13

Still on target. Gives a pretty good interview imo. See if they can deliver..

[novicetrade68] 29/8/2018 11:46

So the first well to be drilled is a high impact well targeting 300bopd and will be drilled this quarter. With a bit of luck we might see some interest here at some point next month.

[euclid5] 03/8/2018 14:18

Thanks Timbo003

Nice 2C contingent oil & gas reserves here 60mmbls & 4.452BCF

[timbo003] 03/8/2018 13:37

Worth a look:


Block Energy On Site Video Compilation
2nd Aug 2018 15:19

[novicetrade68] 30/7/2018 10:28

The price action has certainly been positive recently, I was looking to see whether these would go below 3, but that seems unlikely now.

[toolsmoker] 24/7/2018 17:46

Paul on flight to Georgia expect news flow imminent

[maccamcd] 24/7/2018 15:50

Why is this moving today?

[euclid5] 19/7/2018 11:36

ok thanks for that Spangle

a tight spread on Block - you can buy at 3.26 & sell at 3.20

[spangle93] 19/7/2018 09:38

Well, i thought when I read it that it sounded positive, but it's not set the share price on fire.

From looking at Fig 5-1 and 5-4 in the CPR versus FRR's website, their Block 12 appears to be in the same central Georgia basin, but in a different sub-basin, to Block's two areas. So I'm not sure it's a direct analog, though it's the same Miocene formations

[euclid5] 19/7/2018 07:15

Hi Spangle,

Good update from Frontera Resources today, as they have assets based in Georgia too.

[euclid5] 18/7/2018 18:15

Perhaps it's not that easy to extrapolate into the next SCH block,but it has some potential, even just for the 2C Gas in Rustavi.

Reading on seems they will have to carry out some 3D siesmic to better locate future wellbores. That comes at a price!

[spangle93] 18/7/2018 17:51

Sorry for v quick reply. Having SPM as a neighbour is a good indicator, though they must think there is plenty to do there, because their business model is to enter fields for which they can exclusively use all their own products and services.

But look at fig 5.7 and 5.23 to get an idea of the complexity of the basin - I think that drives the reason why the well pattern on 5-22 is roughly linear. How easy is it to extrapolate into the next block with certainty?

[euclid5] 18/7/2018 15:49

It's good to have Schlumberger right next door to our Block - but trying to evaluate what resources they are targeting in Gas / Oil -must be very high otherwise a company like that will not bother looking for small fish - wonder if it's the gas or oil they are targeting on their X1B field.

From page 13, their gas returns per day are not that large anyway, from 1.4mmcfd / 7mmcfd

[euclid5] 18/7/2018 15:41

Yes in UPL too!

Thanks for the technical info on Midd Eocene & the H Well details required.

I didn't read the 80% RF on West Rustavi Gas 2 C potential. But as they refer this to being 2C, they must have previous drilling well data to evaluate it has a 75% GCoS of this amount of revoverable gas.

Sames GCoS for the 2C Contingent Oil 60mmbls net to Block at 75% CoS, quite a good high figure

Did read somewhere that low porosities reduce daily oil/gas flow rates - just hope the LJT can enhance these in the H Side Track wells

I emailed the co on this area, asking a few basic questions - if I get a reply I shall let you know.

If the Sidetrack wells in the Ninotsminda wells gained a much higher daily flow rates, that is good to knoww, assuming the geology & subsurface is similar to West Rustavi. Think their forcasts on 4 ST wells were something like 10k Bopd in the first 24 months then declining.

Please see pages 72 - 78 - 79 - 80

[euclid5] 18/7/2018 15:25

Hi Spangle,

LJT is the lateral Hydraulic Jetting into Reservoir by using Radial Drilling Services: see extract below from Pg 69 of CPR report




" Block Energy’s plans to perform workovers including lateral hydraulic
jetting into the reservoir, such as the services offered by Radial Drilling Services (RDS). These five workovers are considered separately because the lateral jetting technique has not been utilized in Norio Field previously, nor in any nearby analogous fields. The expected production response for these workovers was estimated at three different levels of certainty, based on analysis of available data on performance of wells where this technique was used world-wide, along with
previous production data from the subject wells"

[spangle93] 18/7/2018 14:34

I'd be interested to hear your thoughts if you do go along, Euclid. I'm out of the country on that date.

I'm sorry for being stupid, but what do you mean by the LJT system

The slide 12 graphic isn't particularly clear. I think it says Middle Eocene play fairway along the black arrow. If this implies a Mid Eocene analogue with West Rustavi, then yes, I believe it would be possible to get much higher rates from horizontal wells. From the description on page 54, the Middle Eocene is fractured, so a horizontal well to intersect a number of fractures could have a high initial production. You are in UPL, right? It's the same deal at suggested for Hardstoft.

But there are so many caveats, e.g. in the top graph, are they measuring IP of horizontal wells against the previous vertical rate before it was sidetracked. Is there any aquifer, that might draw up through fractures. Also, do they even know if the existing wells have sufficient integrity to allow sidetracking, and moreover, the timeframe of a sidetrack appears to be 2019, or at least, following a few workovers. So, plenty of time to figure whether plans have credibility before sidetracking starts ;-)


For West Rustavi gas, I'm reliant on the CPR. If I were doing my day job, I'd note just how limited the information from this field is. I'd wonder how they are expecting 80% recovery as a base case, given very low porosity, or that flow is economic when the only test produced 1 MMscf/d for a 10000ft well. But on paper, yes, the gas contingent resources look attractive; they need some appraisal with modern techniques before committing to field development though IMHO

[euclid5] 18/7/2018 11:56

Hi Spangle,

What do you make of page 12 of Block's presentation, regarding the side track wells producing 10x vertical wells bopd in the Ninotsminda block. Not sure if they used the LJT system there.

Wonder if Fronterra Resources & Schlumberger have got the best fields here.

The Gas alone in West Rustavi 456BCF 2C is pretty huge resource

I may look at going to the Oil conferance in Sept

Thanks