Block Energy Share Discussion Threads

[bad gateway] 06/4/2019 13:58

I think you should stay there for 400% minimum after their RNS john then wait for these to drop back to a penny and load up ready to sell them for a quid a share.
You're a superhero what could go wrong?

[muddyfox0151] 06/4/2019 13:42

Tiger roll £100 win ! The winnings on this Monday :)

[johncasey] 06/4/2019 13:39

i might switch to angus energy monday[good rns after hours]...make 100% then get back in here...what you think guys good plan?

[hazl] 06/4/2019 13:03

INTERESTING BACK IN February ASSESSMENT

[markstevenkirby80] 06/4/2019 12:27

Joe farrel grand national

[lastoneout] 06/4/2019 12:17

Fair points Tim - agree

[tim000] 06/4/2019 12:13

Thanks LOO, that's some very useful info I wasn't aware of. However, I still maintain my position. Apart from the upgraded infrastructure, there's the drilling campaign to finance. Cash balances are running low. Obviously 1000 bopd helps, but that won't accumulate a cash pile overnight. As I understand it, they're behind schedule with drilling the first two sidetracks, which (a) delays revenues and (b) drains cash reserves owing to G&A. Since any capital raise won't be significantly dilutive, it's not a major issue either way. But I bet there'll be strong institutional demand at the moment, and the saying goes that if an AIM company is offered cash, it's a mistake to turn it away. Cash reserves provide flexibility. So I'd be happy to see a small placing. I guess what I'm saying is that PIs shouldn't be surprised nor disappointed if this happens. It would be for the long-term benefit of investors.

[costax1654x] 06/4/2019 12:08

I have shares in Bloe...

[letmepass] 06/4/2019 12:01

He tried to ramp HNR for months but price fell from 40p to 10p

[markstevenkirby80] 06/4/2019 11:58

Putin Thon it

[lastoneout] 06/4/2019 11:58

Tim regarding the capital raise you can never say never of course but at this point I would venture a "not so sure". From the RNS announcing our 100% take over of WR it was stated that we were originally committed to spending a max of $1m to upgrade the facilities at WR but now wouldn't as the existing facilities were fit for purpose. They were clearly surprised at getting 1100 bopd from 16a so perhaps the facilities are now not so fit for purpose! But they have a plan to tanker the oil away which is doable in the short term. Just thinking that given the amount of cash we will be spinning off in fairly short order we could pay for the facilities upgrade out of that?If 38 and the following 3 sidetracks come in like 16a then of course "we're going to need a bigger boat" :-)As for the gas facilities the take off partner "Bago is considering financing wholly, or in part, required gas infrastructure at West Rustavi, including pipeline tie backs to local infrastructure and gas processing plant solutions." This is just a MOU of course so we will have to see what the final deal isAll speculation at this point of course. The future does look very promising though

[goodbloke1] 06/4/2019 11:57

Costax wants in cheaper as usual hence The deramping

[muddyfox0151] 06/4/2019 11:49

The Russians are coming for it :)

[costax1654x] 06/4/2019 11:07

You don't really believe that it will stay at 1100 barrels!???No offence ...I'm just hoping that it will go nice and easy,no pump and dump!!!

[graylyn1] 06/4/2019 10:38

Yes a fund raise would be a good move if recent results please, raise cash and start to fast track the project price would go nuts imo.

[tim000] 06/4/2019 10:33

I'm expecting a capital raise within the next three months. Indeed, the targeted ramp up of production this year implicitly assumes one. Nothing wrong with that however, indeed I'd welcome it. There's a lot of capex to finance and the sooner they get on with it the better. In my view, this company has the most exciting prospects I've seen in a long time. That's partly because (as others have pointed out) the costs of bringing back into production existing shut-in wells is so much less than drilling new ones. And amazingly, BLOE is targeting a 100% WI in West Rustavi. How often do you see a tiny, newly-listed AIM company have ownership of such prospective assets (as reflected in the $1 bn + gas prospects)?

[graylyn1] 06/4/2019 10:29

A bit of week end reading, enjoy.

[wrtmf] 06/4/2019 09:28

they are 'underwriting' the company costs, providing a sound footing for the more exciting wells and lessening the need for raising funds. steady income. wells quick to turnaround.

[well 38 will be more akin to well 16a]

i was careful to say, 'what's filling the coffers and what's high impact'.

[goodbloke1] 06/4/2019 09:11

How can the updates you mentioned involving a few tens of barrels a day have a significant effect on share compared to the recent update in well that was over a 1000 barrels a day!

[wrtmf] 06/4/2019 08:37

new holders this week - i thoroughly recommend reading the rns going back to the autumn last year to get a feel for the pace of progress, what's filling the coffers and what's high impact.

as many as 4 rns in the next 2 weeks?
-well 16a update
-norio update [3-4 wells producing for 80bopd? breakeven at a 100bopd i seem to recall]
-well 38 ops start/progress
-developt strategy beyond well 38 [maybe deep gas well drilled in summer=high impact]
[-an updated company presentation probably better coming after well 38 complete]

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last update on norio - 7/3/2019

Norio 44 rising daily to reach 21 bopd on the most recent day for which figures were available (Wednesday 6 March 2019). [perforated]

Norio 27 well has tested at 26 bopd. [perforated]

Norio 39 has also been perforated. A further update will follow after the well has been put on production.

Norio31 - The Company now looks forward to commencing workover operations at Norio 31, which is currently producing approximately 10 bopd. The well, which initially tested at 800 bopd when first drilled in 1950, has since been a consistent producer, and has produced more than 400 Mbbls during its lifetime.

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[a few here will be wishing this was 88e/rmp/panr a month back or they'd bypassed them and come straight here! chin up!]