Block Energy Share Discussion Threads

[croasdalelfc] 07/4/2019 17:08

Just thought I would share: they have enough storage for oil at WR for 22 days @ 325 bopd . So 7 days at 1000 bopd . They have an option to rent further storage, not sure how that works? Also if they discover commercial gas it would take 3/4 months to tie back and they have 3 options : large pipe , small pipe and local industrial plant . The above from contact with CEO .

[costax1654x] 07/4/2019 15:38

?I was deramping HNR you donkey since it was 18p!Is 8 p now

[johncasey] 07/4/2019 15:13

compare that with angus and ukog..and lenigas thinks they are good oil men..yeah right

[johncasey] 07/4/2019 15:12

done it in 9 months so 9 months ahead of schedule..these guys are seriously good oil men

[goodbloke1] 07/4/2019 14:55

It's already gone way past 900 barrels it seems which was to be done in 24 months!

[johncasey] 07/4/2019 13:49

just to highlight what the CEO said in june 2018... £5m raised..doubt if they would spend that much in 9 months so no new funding required and revenue from oil testing soon

"We are now fully funded to recomplete/reactivate up to 10 wells and side track wells, with the objective of increasing existing oil production from 15 bopd to over 900 bopd within 18-24 months. Additionally, we will be seeking to de-risk 72.9 million barrels of oil and 626 BCF of gas that have been classified as 2C gross contingent resources in a CPR. Our ability to execute in-country is backed by both our team as well as our major shareholder, Georgia Oil and Gas Limited (GOG) who is both an established operator, party to multiple PSCs and a drilling service provider in Georgia.

"We are in the right address in the right country at the right time. The right address, because our existing licences, including West Rustavi where we have a 5% interest and the right to earn up to a 75% WI, lie in the heart of the prolific Kura basin and contiguous to the largest historical producing field (70,000 bopd) in Georgia. The right country, because Georgia is a low-cost, business-friendly nation with underdeveloped oil and gas reserves. The right time, because Schlumberger's entry is game-changing for Block Energy in terms of targeting the same play types and providing third party validation of Georgia's oil and gas potential. I look forward to providing further updates as we focus on realising this potential and at the same time monetising the multiple company-making opportunities we have identified across our asset base."

[babbler] 07/4/2019 13:23

I'm sure it will spike pre placing

[goodbloke1] 07/4/2019 12:14

Never been happy with Angs but good luck to those investors

[babbler] 07/4/2019 12:03

it won't. Its 50 days at least until any proper action there imo. Fridays rns was just confirming known timeline. But gl to you don't get spiked!

[johncasey] 07/4/2019 11:36

BLOE will be 50p by end of month

[goodbloke1] 07/4/2019 11:04

Yeah yeah and I am Bill Gates lol.Knowing your posting history you would be ramping big time ,with respect , if you were in! No doubt you sold in my opinion

[costax1654x] 07/4/2019 10:50

I didn't sold...I will in a few months time at 15 pence....Few Months Time!!!not tomorrow!

[deanroberthunt] 07/4/2019 10:25

is that a fact you can't deny

[johncasey] 07/4/2019 09:22

angus energy will go up 100% monday if you read fridays after hours RNS...then sell angus and buy more here...best plan

[goodbloke1] 07/4/2019 09:02

If you was in here you would be ramping this to high heaven

[goodbloke1] 07/4/2019 09:01

Costax .What price did you sell at? We all know you sold!

[costax1654x] 07/4/2019 08:53

Stop dreaming about 150% up in one day!

[miahkaysor] 07/4/2019 01:16

Bad idea because if rns here then we could be up 150% on Monday! So its your call.Nai.

[markstevenkirby80] 07/4/2019 01:02

Me chops are on fire

[spangle93] 06/4/2019 22:35

One possible value add to consider:

The original CPR didn't attribute much reserves to BLOE, just 1.5 MMbbl net (2.5 MMbbl gross) with more in Norio than WR.

For West Rustafi, the original CPR assigned
0.9 MMBbls 2P gross reserves in the Middle Eocene
38 MMBbls 2C gross contingent oil resources in Middle & Upper Eocene reservoir

The much larger figure was described thus
"The contingency associated with these resources is that, although they are known accumulations that have been penetrated and produced or tested, preparation of a development plan is contingent on acquisition of more data and additional funding"

It's not exactly clear to me where all these resources are, but we must surely be closer to turning some of the 38 MMbbl into reserves, which would add even more weight to the price on a market cap $/bbl basis.

[goodbloke1] 06/4/2019 20:52

Reckon once you go there it will be a while before you will sell there!

[babbler] 06/4/2019 20:52

BTW at least 60 days until results there so good luck with your temporary spike

[babbler] 06/4/2019 20:41

yes please do. Bye.