Block Energy Share Discussion Threads

[faraweigh2] 01/6/2024 11:31

That's the answer we would expect from you and incorrect too.Anyone suggesting that Block's assets are to depreciate in value need a wake up call.Institutions sitting tight and accumulation is and has been in play for a while.Do keep up .....

[jaknife] 01/6/2024 11:12

Faraweigh,



Earnings before all the important things.

JakNife

[faraweigh2] 01/6/2024 10:42

Let's try again, what is EBITDA?Simple question.PH or you clowns?

[herecomesthesun] 01/6/2024 10:13

CRIKEY

a lifestyle penny stock quoting 'EBITDA'


Berkshire Hathaway CEO Warren Buffett says:

"references to EBITDA make us shudder"

"depreciation is a REAL COST that CANNOT be ignored"

"EBITDA is NOT a meaningful measure of performance"



Paul or Warren ?


think I know who I'd prefer to listen to


2p in June ?


keep taking the crack


bwahahahahahahahaha :)


PS

the only forum freaks that are truly worried are the 'sticky hand' investors who are all now seriously underwater :)

[faraweigh2] 01/6/2024 09:36

Explain to us what EBITDA equates to Troll.

[skif] 01/6/2024 09:23

You need to forget last years results, they are a one off, this years results will be much worse.

Chances are they will be running out of cash soon and also they have 2 million of debt and rapidly declining production.

Gaywood is gambling on the farm out so has effectively handed over control of the company to external forces.

[faraweigh2] 01/6/2024 09:21

Trolls appear only when worried.Ignore.

[herecomesthesun] 01/6/2024 09:10

CRIKEY

look at all those 'sticky hands'

====================================================================================

The Skipper 1 May '24 - 10:35 - 13731
The market makers seem to be really short of stock here as I had to use a fill or kill order just to get a 48k top up with some spare cash I found in my account.

tarby 11 May '24 - 11:31 - 13732
Added just over 100k, think we’ll breakout soon.

andyalbi7 11 May '24 - 12:05 - 13733
1.9 paid…

andyalbi7 11 May '24 - 12:52 - 13735
the way the price moves on very little shares being bought or sold shows there aren’t very many available now, they are mostly in very sticky hands.

====================================================================================


NO NOT 'mostly' Andy


just YOU !!



bwahahahahahahahahahaha :)

[herecomesthesun] 01/6/2024 09:05

CRIKEY

'disciplined capital management'


Paul Haywood 2023 Total Renumeration £547,972

PLUS

14,861,751 NIL COST share options (nice little £189k bonus at current pricing)




Project I, II, III and IV will now be collectively known in the real oil and gas world as projects ME ME ME (it's all about) ME or Project Paul for short

it will be the 6 year listing anniversary in a few days and the market cap is currently less than it was when it floated despite all the dilutive money raised since and its promises of lucrative project this or project that hot air

so it's hardly surprising Paul is very much looking forward to 2024 and a continuation of delivering more of his 6 year GRAVY TRAIN LIFESTYLE same



bwahahahahahahahahahaha :)


PS
still no signs of the fisherman !!

hope he told poor old Andy in private that he's already sold

no doubt (with hindsight) in profit as he so often and miraculously always does :)

[faraweigh2] 01/6/2024 08:05

Summarised as:

"2023 stands out as a pivotal year for our Company. Bolstered by solid production, a focus on costs and a supportive oil price environment, we have seen a strong improvement in our financial position. We were also able to focus on advancing our high impact projects, in particular Project III, and the generation and independent verification of a carbon capture storage ("CCS") project.

As we look forward, we're excited about the Company's prospects. The farmout of Project III is already underway and we're seeing continued momentum in developing Projects II and IV, supported by production and cashflows from Project I and disciplined capital management. The Company remains cashflow positive and financially stable at current oil prices and production levels, and I look forward to continuing to deliver on our objectives throughout 2024".

[faraweigh2] 01/6/2024 08:02

Also sat in the accounts:

Significantly increased EBITDA to $1,469,000 from $158,000.

· Reduced cost of sales and administrative costs (excluding depreciation and depletion) in the year from 2022 by $549,000.

· Successfully and safely drilled wells WR-B01Za and WR-34Z.

· Increased oil production to 151,184 bbls (2022: 120,359 bbls) and gas production to 283 MMCF (2022: 267 MMCF), resulting in an average daily production rate of 543 boepd (2022: 452 boepd).

All the above were for last year, up to end of December 2023.

[lastoneout] 01/6/2024 00:26

So nothing to do with them writing off £2m for the non productive squirt fields then?

[faraweigh2] 31/5/2024 19:50

Drum roll please, sounds familiar.Troll, ignore.

[jaknife] 31/5/2024 19:16

andyalbi71,

"Are they actually operating at a loss "

Yes.

It's not difficult to see really because companies do this thing where they publish annual accounts and, within those annual accounts, they show this thing called a "profit & loss account". It just so happens that BLOE published their annual accounts just eight days ago, you can read them here:



And if you read the accounts then you'll find the line:

"Total comprehensive loss for the year (attributable to the equity holders of the parent)"

which shows a loss of $2,139k

Now we could stop there but BLOE has a particular feature in its accounts that often needs explaining to newbie retail investors.

If you scroll down to the cash flow statement you will find two lines in the cash flow statement that are:

Expenditure in respect of Intangible assets (50)
Expenditure in respect of PP&E (3,040)

These represent expenses that many skanky companies capitalise rather than expense to their P&L. And of course that's exactly what BLOE have done!

A large portion of these costs relate to well stimulation. IFRS permits BLOE to treat well stimulation as a capital item rather than a P&L item even though BLOE has to stimulates its wells on a regular basis. If you read note 12 then you'll also see (look at the asterix) that BLOE capitalised $361k of interest expense ... because it can.

So overall BLOE's real P&L would have been materially larger *IF* if hadn't decided to fiddle its accounts like the skanky company that it is!

But the best test of whether a company is loss-making or not is to look at the cash because it's very hard to cheat the cash!

BLOE started the year with $450k of cash and no debt but it ended the year with $713k of cash and (drum roll please ....... )$2m of debt. Hence they burnt cash of $1,737k ($450k + $2,000k - $713k).

So the fudged accounts say that the loss last year was $2,139k whilst the actual cash loss last year was $1,737k.

Plain and obvious to most people but some need their hand holding!

JakNife

[andyalbi71] 31/5/2024 18:17

Are they actually operating at a loss , no are they re investing and building in something absolutely game changing , yes , manipulate all you like Jak, I plan on getting me up to the 20m mark, so when it does go nuts , I am laughing

[jaknife] 31/5/2024 17:28

andyalbi71,

"I have a golden rule , don’t take advice of someone who constantly trashes a stock or management that aren’t even remotely invested… disingenuous trolls"

What "rules" do you have about posting factual content on ADVFN?

When it's proven to you that a business is actually a material loss-maker, even though you had a deluded belief that it was profitable, then do your "rules" mean that you

(a) thank the person who correctly pointed out that it was a horrible loss-maker and a total waste of money, or

(b) attack them and accuse them of being a troll because you can't accept that you were wrong?

In which case is the supposed "resident troll" actually a troll? Or just someone who has correctly identified that BLOE is a persistent and regular loss-maker, which has upset you?

JakNife

[andyalbi71] 31/5/2024 15:32

I have a golden rule , don't take advice of someone who constantly trashes a stock or management that aren't even remotely invested... disingenuous trolls

[faraweigh2] 31/5/2024 14:05

What is your point, explain it to us?Your deramp tactics are laughable!

[skif] 31/5/2024 13:56

2023 Production

Total 151.18

Q1 26.8
Q2 48.5
Q3 44.3
Q4 31.5

Q1/Q2 2024 top secret

but judging by the drop from Q3 to Q4 last year I'm sure some of you can guess the direction of travel especially as the drilling has stopped.

[faraweigh2] 30/5/2024 08:43

Hoovering up in play.2.2p incoming in June.GLA

[andyalbi71] 30/5/2024 07:04

I don't claim to own , I do own