Block Energy Share Discussion Threads

[spangle93] 30/9/2019 08:46

What caught my eye was
"We used the £5 million we raised at the time of our IPO in June 2018 to demonstrate our capacity to undertake disciplined low-cost operations and prove the value of our assets"

Actually, all the early material said in Phase 1 there would be "Drill 2 side tracks targeting 650 bopd"

If they've used the £5MM then we've only got one instead of two. Though you could argue they've paid unexpected money to get to 100% equity.

But just be very careful - they are still quoting barrels per day and NOT barrels of oil per day, e.g. "Build new CPF at West Rustavi to handle production capacity of 4,000-5,000 bbl/d"

[donald pond] 30/9/2019 08:30

They need to get the gas tie-up sorted imo.

[cpap man] 30/9/2019 08:00

For further information please visit hxxp://www.blockenergy.co.uk/ or contact:

Paul Haywood

(Chief Executive Officer)

Block Energy Plc

Tel: [phone]

[johncasey] 30/9/2019 07:49

eh guys check out IRONVELD RNS... bloody massive news..several interested parties in buying the company and fully funded until jan. 2020

[jammydodger1] 30/9/2019 07:45

Wow not 1 comment on half year financialsYour done PH

[lithological heterogeneities] 27/9/2019 22:28

Thx cpap.Good to see you here as well.Very promising IMHO.I am staying for all 5 wells.

[cpap man] 27/9/2019 16:00

Ok thanks jrlomax

[jrlomax] 27/9/2019 15:18

I'm expecting core sample results from well 38 and maybe wire line logging from 16az. To discover where the waters coming from

[cpap man] 27/9/2019 14:50

Next news from BLOE as early as next week?

[cpap man] 27/9/2019 14:25

Great posts as always l h

[lithological heterogeneities] 27/9/2019 14:06

Only on gas mark 3 right now. Will soon be gas mark 6 on Spud. Gas mark 10 on result.

[lastoneout] 27/9/2019 13:54

BLOE cooking with gas

[lithological heterogeneities] 27/9/2019 13:54

Way oversold + shorts closing

[garymegson] 27/9/2019 13:53

What's going on have bloe turned water into oil

[lithological heterogeneities] 27/9/2019 13:52

A REMINDER OF THE HUGE POTENTIAL FOR ANY POTENTIAL BUYERS OF BLOE:£21m v $1.2 BILLION gas (+ oil)Mkt Cap now just £21m( at 5.4p) with £12m cash raised to fully fund the next 12 months with the best oil discovery in Georgia for 50 years and 2 of the next 3 wells targeting the £1.2 BILLION in gas as well as more oil. Very cheap.Paul Hayward (BLOE CEO):"The opportunity for us in West Rustavi is huge. We are now 100pc in over 600bcf of 2C gas resources.To put things into perspective, the assets that our new ventures team are looking at plays are 100-150bcf at a capex of $160m. We are based onshore in Georgia, and we are getting these wells down for $4-$5m with netbacks of c.$2-2.5/mcf.If you run that over an unrisked 600bcf resource, then you are looking at a project value of about $1.2bn."Two out of three upcoming wells are targeting this company making/transformational $1.2 BILLION gas target as emphasised again in the recent 01 Jul 19 RNS:RNS -01 JUL 19"Block's fully-funded back to back drilling programme, which has been designed to ramp up existing oil production and advance a contingent gas resource of over 600Bcf.The next step in the Companys programme includes sidetracking of the adjacent and analogous well 38, and three of the field's other wells, two of which will also be tested for their historic gas discoveries."Paul Hayward (BLOE CEO):"'We believe there is plenty of scope for growth from our current valuation, and that we are firmly on course to realise our ambition of becoming AIM's newest mid-tier oil and gas company."BLOE Licences:• Located in a proven and prolific hydrocarbon region• Located in the Kura basin and contiguous to largest historical producing field in Georgia (approximately 70,000 bopd at peak)• Licences located next to and on trend with Schlumberger's 100% held position• Over seven billion barrels of proven reserves in nearby Azerbaijan, Chechnya and Dagestan• Stable political and economic environment in which to do business• Multiple horizontal sidetrack candidates promising high impact news flow and significant re-rating potential• Conditions in place to become one of Georgia's leading independent oil and gas operators

[tarby1] 27/9/2019 13:49

Hmm, somethings up!

[cpap man] 27/9/2019 12:15

Lots of switching from ZEN to BLOE

[cpap man] 27/9/2019 11:45

Pinkypeterpoopoo27 Sep '19 - 11:40 - 5028 of 5030 (Filtered)
Pinkypeterpoopoo27 Sep '19 - 11:42 - 5029 of 5030 (Filtered)

[cpap man] 27/9/2019 11:44

jammydodger127 Sep '19 - 11:30 - 5026 of 5029 (Filtered)

[pinkypeterpoopoo] 27/9/2019 11:42

https://youtu.be/qPLbyk7c-KM

[pinkypeterpoopoo] 27/9/2019 11:40

https://youtu.be/LqL4DRZ2EkA