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BlockchainK2 Corp V.BITK

Alternate Symbol(s):  BIDCF

BlockchainK2 Corp. is a Canada-based holding company. The Company is focused on investing in the blockchain technology solutions for capital markets and other sectors. The Company’s portfolio companies include Amplify Games Inc. (Amplify), iRecover Inc. (iRecover), Real Blocks (Envexergy) and Standard Power. The Amplify Games Inc. offers a gaming technology platform that allows the digital game distribution and promotion. The platform uses blockchain technology to change the current studio, publisher, and influencer paradigm. The IRecover Inc. offers an online substance abuse education and support for middle, high school, and college students. The Real Blocks is a technology platform for private equity, private credit and real estate that provides tokenized secondary trading of LP interests. Standard Power provides Digital Infrastructure as a Service to advanced data processing companies such as those focusing on blockchain mining and performance computing applications.


TSXV:BITK - Post by User

Bullboard Posts
Post by Sinbobon Dec 23, 2013 10:34am
344 Views
Post# 22032933

Perhaps some solid information will help here.

Perhaps some solid information will help here.The following are selections of posts on another BB from a select few who are knowledgeable, experienced and credible. It may help to enlighten those who post here with a negative bent and no substantive information … as well as those who are new to this oil exploration sector. Firemagi: Videos From Several Borehole Cameras If you want to attain a better appreciation for a perf gun's potential, this is a 4:30 YouTube video. Start at the 2:00 mark to see different guns being detonated. A few seconds of this video has greatly increased my understanding. https://www.youtube.com/watch?v=yq0AAXlYk3Q In case anyone has 8 minutes on their hands and are wondering what sort of images you get from a borehole camera, this YouTube link will provide some insight... https://www.youtube.com/watch?v=ZzDrheWDhGw JWallisca: “… Once the camera has revealed all, then the various options can be properly ranked to decide how to proceed. In this context, it is realistic to assume that the service company that made the first attempt [Schlumberger] will want to retain its reputation in country. In this regard, "Schlumberger" would most likely NOT use the same approach. We await the results of the photo-op and then that of the decision making process c/w "retain reputation" of the service provider [Schlumberger]. Jwallisca: “…The only issue is the timeline, i.e. when rather than "if". Once we lost CTF-06 because of "Customs", we had limited weapons to perforate effectively. We lost the ability to run a BIG gun down the 7" liner. It is the small 3½" tubing inside the 7" liner that is the problem. Comparatively to no tubing in place, you cannot get very big charges down 3½" tubing. Further, the limited ability explosives then have to perforate quite a thick liner [because of the well depth] with a gun that is quite some distance from the liner. Even though the charges are shaped to give a focused explosive gas jet, the greater the distance to that being pierced, the less effective the jet as the energy starts to dissipate radially. [Remember that SLK-1 was perforated when the BIG rig was there.] A strip gun was used at BHN-1. It sits in the middle of the 7" liner with a nice gap between it and what it wants to make a hole in. Use of a hollow carrier gun, or equal, that would have attached to the liner wall would have improved our chances, i.e. no gap to dissipate energy in. However, the quality of the explosives appears to be poor due to age and possibly storage method. My guess is that most perforating work at that depth in Tunisia uses either the BIG rig, or a service rig. [You pull the tubing if you use a service rig.] This would help to explain why the charges had reached their shelf life, i.e. almost never used by comparison. Amstock: I spoke with someone that worked at a service company that did perforations, acid work, fracking and etc. He worked for the company over 35 years. He saw bad perforations or not functioning perforations "many times" and said he would not be surprised to see it happen in Tunisia especially where they have less work. The charges and other materials would tend to sit in the warehouse longer and some of the people involved would generally be less experienced. I started by giving him a basic description of what happened initially, without telling him any conclusions from anyone else and asking what he thought could be the problem. ,He said, hell, the perforations probably failed. I then explained that they are getting a downhole camera. He thought then that DualEx was probably doing that to get the service company to pay for the failed work. He thought that might not work unless they already agreed. However, he thought the service company would agree to rework it for a big discount based on pictures from the camera work. He thought that they might need to redesign the perforations also. I asked how it increased risk. He then wanted a complete description of the casing, tubing, completion and pipe sizes. From that, he estimated that the risk was increased too little to worry about. In other words, he figured the probability of success for the well was still almost the same as it was before. This is from someone who has been involved in as many perforations and completions as anyone else that can be found on the planet. Captaincam: “… I have used all of these systems and under these circumstances I, personally, would first use a hollow steel carrier magnetically decentralized. If that did not achieve the required penetration, I would pull the tubing and shoot with deep penetrating casing guns. If that didn't work, I would then get a system called a Penetrator which can cut 72" long, 1" diameter holes in the casing, cement sheath and then the formation. I know this has been a long winded explanation of the perforating process but so much has been written on this and other bulletin boards that is just plain misinformation. I hope this will help to clarify the situation and reassure readers that Dualex and Africa Hydrocarbons will ultimately be able to gain access to the formation and then to squeeze acid into the formation. The stimulation treatment is another matter but that will also be able to be done as well. Once the treatment is properly performed, the well can then be tested for production rate and the state of formation damage, if any remains. This is not meant to be advice as I am only trying to pass on some knowledge and experience that I have from a 35 year career in completions. I remain optimistic in the successful outcome of these operations, that is, whether or not commerciality is proven. I am also still very optimistic that we will see a very good oilwell and that there will be rosy futures for those who have had the fortitude to remain invested in this very high potential situation. Good luck to all longs in both DXE and NFK and the very best to all for the upcoming Holidays and the New Year. As always, AIMHO. Jwallisca: My understanding is that the charges are fired sequentially [either bottom up, or top down depending on type of perforating gun per Captaincam's guidance and my own research]. The casing is firmly cemented into the Abiod formation. Think of a charge that did go off, but because of poor handling and being geriatric to boot as having a certain potential energy that is now diminished compared with right out of the factory. Let us say 90% of "best". The potential energy is converted to kinetic energy, which has energy based on the square of the velocity of the exploding gases. It can be shown that IF you start out at say 90% of potential then the kinetic energy available is roughly the square of the 90%, i.e. some 81%. Now, IF the gun was suspended in the middle of the casing rather than magnetized directly to the wall, then this drop in available perforating energy gets magnified and very little happens to the casing. A suspended gun's exploded charge will dissipate energy faster with the gap than one that is held to the wall by a magnet. It doesn't take much imagination to see that this type of system needs everything to be on steroids to work best. Any weak links and there is a problem. Further, keep in mind that the size of charge available for through tubing guns is smaller than when there is no tubing in the well. In other words, once we lost CTF-06, we were unable to use the BIG Howitzer to perforate. Rather, we are now forced to use something more akin to an AK-47. Any imagination at all would suggest that everything has to be right for the present situation to "get-er-done". I believe that we will "get-er-done", but that is an opinion and not the final word.
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