Block Energy Share Discussion Threads

[joecase] 14/12/2018 10:34

Don't worry it's the mrs May effect. I recall trading 2 years ago when a stock put an RNS out like this one on bloe today the stock would be trading a t 175% blue within 30 mins of open. When the stupid may does get the eu thing done things might improve.

[bad gateway] 14/12/2018 07:37

Can't believe how positive he is. Rerate needed?

Block Energy Chief Executive Officer Paul Haywood said: "The recovery of more than 500 barrels of oil from the legacy vertical wellbore at West Rustavi 16a is highly encouraging and bodes well for our horizontal sidetrack programme at the field which is due to begin early next year. Having raised £5 million by the time of our IPO we are fully funded to undertake our work programmes at West Rustavi and Norio, which together target a combined 900 bopd net to Block by Q1 2019. With our existing production at Norio selling for Brent minus US$10, a production rate of 900 bopd has the potential to generate circa US$13 million in annual revenues at current oil prices, a level that far outstrips our existing £7 million market valuation. And we do not intend to stop at 900 bopd. With four more existing wells identified as suitable sidetrack opportunities at West Rustavi, an inventory of historic wells at Norio, and a potential 28 MMbblof contingent resources at Satskhenisi, the opportunity to significantly scale our cash flow further is clear.

[bad gateway] 14/12/2018 07:20

Decent RNS here this morning. Initial production signs very encouraging.


Proactive yesterday..

[babbler] 06/12/2018 05:45

According to novum bloe is significantly undervalued and set for a major rerating with near and long term targets representing over 200 % and 1400% upside respectively to the current price of 2.9p...Well duur. Might get busy today...

[burtond1] 23/11/2018 08:52

https://total-market-solutions.com/2018/11/23/block-energy/Decent balanced write up by @tmsreach

[bad gateway] 22/11/2018 17:03

Results out. More cash than I expected and getting on at pace with the gas discovery. Happy to hold and see how this one pans out..

[bad gateway] 22/11/2018 12:06

Hi b1tcoin I don't believe i cost anyone anything on ANGS I just laughed at your wrong calls about the share price cratering to 7p after the rise began.
That was my crime your angst is my punishment.

[babbler] 20/11/2018 15:06

Ah you are here. Excellent news. Time to buy.

[babbler] 20/11/2018 11:57

Fully funded. That's the key here imo

[babbler] 20/11/2018 11:34

Boomtastic. 4p for starters.

[bad gateway] 20/11/2018 10:48

Forced seller gone at least.

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, has today been notified by Mayan Energy ('Mayan') that Mayan has disposed of its entire 3.29% interest in Block in order to allocate its resources to the development of its onshore US oil and gas assets.



Mayan's entire 3.29% interest in Block has been acquired by three existing shareholders in the Company, all of whom participated in the oversubscribed £5million placing at the time of Block's Admission to AIM in June 2018. All three shareholders have expressed their continued support for the fully funded multi-well work programme that is underway at Block's 100% owned Norio oil field targeting a 15-fold increase in production to 150 bopd by Q1 2019. In addition, preparations are ongoing to drill a horizontal sidetrack programme and test the gas resource base on its West Rustavi licence which has been assigned net contingent resources of 456 BCF and lies on trend to the same play being targeted by Schlumberger on neighbouring fields.

[babbler] 19/11/2018 10:11

And I'm still waiting for it...

[costax1654x] 19/11/2018 09:21

Told you from a month ago

[costax1654x] 19/11/2018 09:21

Below 2 soon

[bad gateway] 16/11/2018 07:16

Knew it was Mayan and got knocked by their holders for suggesting it. Good to have the overhang cleared.

[croasdalelfc] 15/11/2018 16:50

8.5m sale MAYAN have sold out of BLOE - overhang cleared - upwards we go

[spangle93] 11/11/2018 08:50

How do you calculate a PE ratio of 1.3, Costax?

[thefozzer] 10/11/2018 11:40

I've taken a position here.

Low shares in issue, low market cap. Good news flow and good potential, getting ramped on Twitter, cash in bank, suspect the management will raise a few quid on a spike, looking for around 6p

Just a punt.

[croasdalelfc] 09/11/2018 20:11

Nice delayed buy 720k

[turbocharge] 08/11/2018 22:44

Thanks, need to study more, looks interesting with potential

[spangle93] 08/11/2018 17:14

No, that's slipped to end 1Q 2019.
See RNS on 15-Oct and accompanying Proactive video for details on workovers and sidetracking