Block Energy Share Discussion Threads

[andyalbi71] 12/2/2024 07:21

https://x.com/blockenergyplc/status/1756939052832493776?s=46&t=SvhEu5nV1moR83VuwhbSIg

[skif] 11/2/2024 10:36

Haywood is unhinged.

[skif] 10/2/2024 14:40

True, Zaza was a problem, but the main problem with Frontera was their failure to produce oil or gas. Interestingly enough, they also had a news blackout re production too.

BLOE seem to be adopting the same MO.

[skif] 09/2/2024 21:44

Block have been fortunate that the oil price has been high due to the war in Ukraine and now Gaza. These conflicts are likely to end soon and the oil price will drop, on top of that many economies are going into recession. So if Block are profitable at this point it might not be sustainable.

Interestingly enough there was little or no drilling activity from Frontera who were also gambling on a Farm out from what I understand. There are parallels here.

Also there is no evidence of any Farm out arragements with the Chinese, it is just wishful thinking. It may or may not happen but not necessarily in the near term.

[jaknife] 09/2/2024 21:17

andyalbi71,

"Not quite Jak …… Block are in profit now"

Are they?

Really?

When did "now" start? BLOE reported losses in 2017, 2018, 2019, 2020, 2021, 2022 and have also reported losses for the first half of 2023:



(It may even have reported losses in every year prior to 2017 but I can't be bothered to check)

Is your assertion that BLOE will make a profit in the second half of 2023? Is that your definition of "now"?

Or shall we just agree now that BLOE are NOT in profit "now" and then I don't need to come back when the finals are published to show you that they've made a loss?

JakNife

[the skipper] 09/2/2024 20:51

Kevin,

It’s readily apparent from the fairly recent US court cases that Zaza was a crook who also deceived his fellow directors.It’s therefore wrong to say it was a complete fraud, but the other Directors are partly to blame for taking their eye off the ball with him. Of no relevance to BLOE though, who are operating in different geology and unlike FRR have the full support of the Georgian state agencies.

[andyalbi71] 09/2/2024 20:48

Not quite Jak ...... Block are in profit now

[the skipper] 09/2/2024 19:39

Frontera was waylaid by its funding arrangement with YA Global and the Convertible Loan Notes which Outrider Master Fund picked up in a fire sale. Both parties were hostile and no comparison whatsoever with the loans made by Directors and associates here, so give it a rest dodge and stop pretending you’re someone else.

[skif] 09/2/2024 17:36

"Independent Assessment of Gas Resources: A report by the independent consulting firm of Netherland, Sewell & Associates confirms prospective resources of as much as 8.29 TCF of gas-in-place for the Mtsare Khevi Gas Complex, with as much as 6.15 TCF of recoverable prospective resources. This is the first independent assessment to be conducted against Frontera's ongoing work at this asset."

And you numbskills are shouting about 1TCF.

You might want to take a look at what happened to Frontera.

[faraweigh2] 09/2/2024 10:25

Guess so andy, both filtered owing to personal attacks and foul language.Aliases are vocal so let the good times roll.

[bibs] 09/2/2024 10:00

https://twitter.com/1stchesh/status/1755892029505122386

[the skipper] 08/2/2024 22:46

Well I think it’s reasonable to assume that the Nomad would have had sight of the IER and the valuation methodology in order to clear the RNS as that’s their role to ensure that investors aren’t misinformed. It’ll probably find its way onto Block’s website in a day or two imo.

[spangle93] 08/2/2024 22:16

Hi Skipper

Well, all this would be clear if they published the IER ;-)

Having had some experience of both sides of this, PRMS is the framework through whose definitions the independent examiners work to define volumes and classificiations of hydrocarbons.

However, I'm pretty certain that the valuation methodology is NOT defined by PRMS. As I'd understand it, the valuation would be done as if the contingent resources were to become reserves, and the numbers (assumptions of cost, unit prices, etc) used in the NPV calculations would be independent.

[the skipper] 08/2/2024 20:46

Spangle - surely the valuations provided are based on the fact that the resources quantified in the IER are contingent? Note this statement:”The IER was performed according to Petroleum Resource Management System guidelines. OPC undertook a comprehensive evaluation of Block's technical work, including geology, geophysics, petrophysics, reservoir engineering, development plan, well design, costings, commercialisation and economics.”

[dodge_city] 08/2/2024 18:05

"Contingent Resources (CR) are defined as those quantities of petroleum which are estimated on a given date, to be potentially recoverable from known accumulation but which are not currently considered to be commercially recoverable."

It's an estimate, the only way they will know for sure is by drilling.

[spangle93] 08/2/2024 18:02

I was hoping to find the actual IER, but it's not loaded on Block Energy's site, unlike the previous one.

So, I can't find what the "contingent" refers to? Contingent on a flow test / proof of concept? Contingent on a development plan? Contingent on a farm out / funding?

Until it's no longer contingent, the minimum net present value is much less than the table in the RNS.

No mention of CCS either, cf post from Skipper 13253

[dodge_city] 08/2/2024 16:43

A few buys going through this afternoon, so that's encouraging at least.

[andyalbi71] 08/2/2024 11:38

Are skif and dodge the same person .... Same profiles ... on same chats and both follow ice age farmer