Block Energy Share Discussion Threads

[gregpeck7] 02/4/2019 09:19

Ed agree, and I think there will be some sort of update around the general strategy to develop the field in light of these improved results.. As I said yesterday, this is a new company, some will sell out with an overnight 50% profit but most will stay with this story now for the long haul. Over 20% of the company changed hands yesterday which is crazy... Once the profit taking ends, which should be very shortly IMO, I see a steady sustained rise towards a realistic valuation which is much greater than 15m. The asset is clearly significantly better than the company expected and it is the flagship asset so should have the greatest multiplier on the overall valuation.

As per half year results, break even is 100 bopd. That is now in the rear view mirror. Crazy to think that but that is the case.....

GP

[edgein] 02/4/2019 09:06

Greg,

Yes I'd expect the next RNS after they complete the 72 hr test:

"The well is now shut in for a 72 hour period. On recovery of the downhole gauges pressure transient analysis will be performed and reported by RNS."

So Thursday/Friday update possible or maybe next week, but there's lots more news to come from this hole and the forward plan. Also the near-term transformation of production volumes and cash flow. As I said yesterday I'd expect this one to come online around 500bopd, an almost immediate x10 increase in cash flow. Then straight onto well 38 operations.

Regards,
Ed.

[hazl] 02/4/2019 08:58

Sure to be a few changing hands initially. 8-)

[gregpeck7] 02/4/2019 08:55

And panr 95m mkt cap..

[toogood4me] 02/4/2019 08:47

I see panr rns todayKey Points: Pantheon has announced the full results of its Alkaid well flow test programme onshore Alaska. This was already reported as successful at the primary target Brookian ZOI level, which flowed at 80-100 bpdWe hit 1100 bopd yesterday This is so cheap

[muddyfox0151] 02/4/2019 08:43

I smell gas:)

[muddyfox0151] 02/4/2019 08:42

Up down all day :)

[toogood4me] 02/4/2019 08:38

It's hard to believe that this is way under the radar even from the regular rampers. Believe in your research and we have a company here who is producing and will be cash flow ready within a short time. And if the gas is good then it's boom time. Buy and hold the dips.

[miahkaysor] 02/4/2019 08:35

FROM BARCLAYS Shares rally as oil producer Block Energy hits gold?Mon 1 Apr 2019(Sharecast News) - Shares in Aim\'s Block Energy have surged 60% after the oil explorer announced testing at a well in the Republic of Georgia had exceeded expectations.Block Energy said production testing at well 16a in the West Rustavi field delivered a test flow rate of an average of 1,100 bbl/d. The previously announced target production rate was 325 bbl/d.The company added: \"The well test indicates an initial well performance that is better than any well drilled in Georgia in the last 50 years.\"Shares in Block Energy were trading up 2.32p at 6.22p by 1600 BST.Chief executive Paul Haywood said: \"We are delighted to report such encouraging test results from the first well we have sidetracked at our flagship West Rustavi field, delivering a production rate significantly higher than initially presented. Current performance, complemented by the company\'s increased working interest in the licence, looks set to deliver great value to our shareholders.\"Management will now digest this extraordinary result and crystallise a development strategy beyond that already outlined to the market.\"Block Energy currently has a 71.5% working interest in the West Rustavi field, but secured an agreement in February to acquire a 100% working interest.

[gregpeck7] 02/4/2019 08:30

For Institutional investors this is still so cheap. I'm expecting some serious volume the rest of the week as this probably enters a few new portfolios. Will there be another update this week? I think so...

[miahkaysor] 02/4/2019 08:27

Toooooo cheap!!!!!!!Nai.dyor.etc

[muddyfox0151] 02/4/2019 08:25

Best too hold on :)))

[gregpeck7] 02/4/2019 08:25

Added 70k on the dip...

[letmepass] 02/4/2019 08:24

Amazing IIP. Next week over 15p. Get in early

[toogood4me] 02/4/2019 08:24

You bought at 2.46 and now impaled

[letmepass] 02/4/2019 08:22

IIP ABOUT TO GO

[letmepass] 02/4/2019 08:19

Massive upside at IIP..

[letmepass] 02/4/2019 08:11

IIP taking off

[toogood4me] 02/4/2019 08:10

Derampers have started some clown on lse 8:09 Price: 6.30Nickel_Investor 3,115 postsTaken profitsHaving looked further into this.If the clown had looked further the tossed would be buying

[toogood4me] 02/4/2019 08:09

Mms have started work by giving ridiculous sale prices which are all over the place