Block Energy Share Discussion Threads

[mcrudden] 18/12/2019 09:23

Yes bobax I've read that also, terrible what they do to trash shares and scare people into selling. Good to be aware of the names involved though Thansk

[wrtmf] 17/12/2019 17:49

anyone think we'll get a prelim flow rate before 12.30 xmas eve?
'flowing naturally following clean up operations'

edit - next sidetrack well, 51, being so close to wr38z [see tweeted pics] might be the most positive signal that the latter is going to give us something decent and the company want to replicate it as much as possible and as quickly as possible, before something deeper like wr30 and a more prolonged drill [and more risk, but with bigger prize].....?

[bobaxe1] 17/12/2019 17:23

Great post on lse by lorenzo explains how we have been driven so low: The main epicentre of de-ramping and uncorroborated accusations about EUA seems to be Gary Newman (Share Prophets) and his cabal of mates (the usual names – Tim Kempster, Wshak, Jaknife, to name a few). For those who don't know, and who might be inclined to listen to what he writes, please bear in mind the following. Gary Newman works for Guru and Korda as a TV production and Special Projects Manager. Look them up - tackleguru.com - Basically he produces shows for a fishing channel/web site! Surprised? He also writes for the Angling Times. As far as I can establish he is not an accountant. He's not an economist. He's not a qualified financial advisor. He's not a stock broker. He has zero qualifications to be providing investment advice. Other than fish, I cannot see a single area of expertise that he is qualified in! Apparently he is a journalist (as far as I can tell in all matters angling), but I'm not clear if this is a self awarded title, or a formal qualification? Now, I ask you, would you rather read and take on board the official RNS's of a regulated and listed company, whose every announcement is apparently being monitored closely by the AIM Regulator and by a lawyer at their NOMAD, WH Ireland, and who are audited by Grant Thornton, or a fishing expert?! I'm not claiming to be a qualified financial expert myself, but next time you sell shares based on his advice, I suggest you have a long hard look at yourself in the mirror!

[spangle93] 17/12/2019 14:33

Mice - don't forget the monster fund-raising earlier this year.

Barely scratched the surface of that so far, plus there is some revenue from the production. There's plenty of things that are easy targets for criticism here, but they aren't short of cash.

[bobaxe1] 17/12/2019 14:06

I felt this was oversold at 10p the market has been mean

[jrlomax] 17/12/2019 13:43

Wow the market is really listening to you. Donut

[bobaxe1] 17/12/2019 12:20

Thought not

[bobaxe1] 17/12/2019 11:31

Short it then

[catchingmice] 17/12/2019 11:25

Going nowhere this and it's no better than that other dog MATD Take out what you can I've seen it all before this will sink below 3p very soon

[bobaxe1] 17/12/2019 11:10

So two hits! Load of gas as well and were 4.6p ffs

[chinadog3] 17/12/2019 11:09

Steady and promising Release. Looks to me like Bloe is getting there

[m1das_touch] 17/12/2019 10:39

Sam Wahab, analyst at share price Angel, in a note, said: “An encouraging update from Block today, with the latest well producing to surface.

“The company benefits from an enviable acreage position in Georgia and West Rusavi represents a key strategic asset for the company, and indeed the country in our view.

“Next up, the company will continue with its drilling campaign specifically targeting the field’s primary oil-bearing Middle Eocene formation to further understand the reservoir dynamics.”

[burtond1] 17/12/2019 09:04

If it was water, why the hell would #BLOE test or prepare another well for side tracking. They would simply abandon?Swabbing to free flow to multi rate production testing are clearly good signs for @BlockEnergyplc & point to a productive well or else why would they be testing? These move up fast...seller being worked from last couple of weeks. Clear "him" and these go sharply higher

[thefartingcommie] 17/12/2019 08:59

from lse

garyn

Posts: 37,680

Price: 4.60

No Opinion
AddedToday 08:57

A second lot here, couldn’t see anything negative in that update and good to see the company being far more cautious these days after the 16aZ fiasco. Not looking to be a long term holder, but can see potential value here (as I did previously when I initially covered it as a buy in the 3p range prior to the big rise)

[thefartingcommie] 17/12/2019 08:58

Gary Newman
‏ @GaryNTrader
9m9 minutes ago

Added some more #BLOE, saw nothing on that RNS not to like and hopefully 38 is completed more efficiently than 16 was - I still have doubts about the wells longer term, but would expect reasonable flows, at least initially and enough to excite the market to some extent
4 replies 3 retweets 7 likes

[cal57] 17/12/2019 08:07

That's better buying started

[cal57] 17/12/2019 08:06

Well,the market's not impressed and more small investors selling up.

[lastoneout] 17/12/2019 08:03

Can only assume the time spent so far has been taken up sourcing and commissioning the test equipment. Well is flowing naturally and a couple of weeks testing to come alongside the spud of 51 which is nearby. So change of plan there

[patmike] 17/12/2019 07:53

But not a single flow rate!!!

[spangle93] 17/12/2019 07:52

Well, they've either learned from their lesson in hyperbole and misleading investors on 16Z, or this is not up to expectations, cos that RNS is about as bland as it's possible to be

[andyalbiston71] 17/12/2019 07:51

At last .. some good news

[cpap man] 17/12/2019 07:50

Block Energy Chief Executive Officer Paul Haywood said:

"We're pleased to confirm that operations at WR-38Z continue to proceed smoothly, with the well now flowing and ready for producrion testing. We look forward to updating the market on the results from the multi-rate production test. Furthermore, we are excited to have completed our 3D seismic acquisition and eagerly await the results of the processed data set, which will enhance our understanding of the reservoirs".

[thefartingcommie] 17/12/2019 07:42

17 December 2019

Block Energy Plc

("Block" or the "Company")

Operations Update

Block Energy Plc, the exploration and production company focused on the Republic of Georgia is pleased to announce that well WR-38Z at the Company's flagship West Rustavi field ("the Field") is flowing naturally following clean-up operations and is ready for production testing. The Company has also prepared nearby well WR-51 for the Field's next horizontal sidetrack.

Following a short period of swabbing, WR-38Z is flowing naturally. The Company has installed and commissioned new production test equipment sourced from North America and will now commence a multi-rate production test extending over several weeks.

WR-16aZ is temporarily shut in whilst the production facility is being upgraded and is expected to return on production in January 2020.

In addition to the operations at WR-38Z, the Company has completed civil and preparatory works at the wellsite of well WR-51 and the wellbore is now ready for sidetracking operations.

The 3D seismic acquisition has been completed and the data is now being processed and interpreted to develop a comprehensive understanding of West Rustavi's subsurface and facilitate the identification of optimal locations for future drilling.

Block Energy Chief Executive Officer Paul Haywood said:

"We're pleased to confirm that operations at WR-38Z continue to proceed smoothly, with the well now flowing and ready for producrion testing. We look forward to updating the market on the results from the multi-rate production test. Furthermore, we are excited to have completed our 3D seismic acquisition and eagerly await the results of the processed data set, which will enhance our understanding of the reservoirs".

[wrtmf] 17/12/2019 05:48

like a fly that must navigate towards the blue light zapper in a restaurant kitchen...

...i can't bring myself to sell!