Block Energy Share Discussion Threads

[sarah68] 22/7/2024 16:42

yup....its complete bs fara....as a shareholder do you not want to know how much is being sold and what the cash balance is????

you clearly prefer to bury your head in the sand....

another day and not one buy....

what does that tell you????

delist on the cards

[faraweigh2] 22/7/2024 16:02

From RNS:

Given Block's strategy has evolved in-line with the development of its assets, the Company is revising its reporting process. Rather than providing updates each quarter Block will publish shareholder updates in-line with specific news on strategic and operating activity, and to observe financial reporting requirements. The Company believes news of its initiatives and operating developments no longer conform to a quarterly news cycle and therefore risk compromising strategic and commercial discussions with potential farm-in candidates”

[dodge_city] 22/7/2024 15:33

The interims will confirm that statement to be true or false.

[sarah68] 22/7/2024 15:31

'The Company remains cashflow positive and financially stable at current oil prices and production levels,'

so the company states the above fara....

please explain why they have stopped quarterly updates so the investors can see for themselves?????

we all know why....you just dont want to admit it.....

its because the production numbers are awful....why else would they 'hide'

quantum....where are you ffs

[dodge_city] 22/7/2024 14:59

"Pivotal year"

What like a see saw. So could pivot down as well as up.

[faraweigh2] 22/7/2024 14:50

Extract from recent RNS:

"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".

[jaknife] 22/7/2024 14:29

The price is falling because:

(a) what those who are labelled "bashers" write is true,

(b) what those who are labelled "rampers" write is merely their dreams,

(c) the $2.0m loan facility is due for repayment by Thursday next week and no explanation has been given as to how it will be repaid.

JakNife

[dodge_city] 22/7/2024 13:50

The drop is due to the rampers.

[batiatus] 22/7/2024 13:46

If bashers had that power to influence the share price, then equally, the rampers would also ramp it up to no limit.

So where is the logic that the drop is because of the bashers?

[sarah68] 22/7/2024 09:59

i love how the rampers on lse are blaming the drop due to 'bashers'......ummmm nothing to do with that....its all the responsibility of the company....

delist inbound

[dodge_city] 21/7/2024 15:26

The Interims in September will give a better view of what's really going on. I suspect Gaywood is praying for a Farm Out before that though.

[jeevescharlie] 21/7/2024 08:02

Audited Results for the Year Ended 31st December 2023

Block Energy plc, the development and production company focused on Georgia, is pleased to announce its audited results for the year ended 31st December 2023.

Highlights:

Block made good progress in executing its four Project strategy:

· Delivered 299,824 operational man-hours with one Lost Time Incident ("LTI"); (2022: 382,542 with no LTIs).
· 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.
· Maintained a disciplined approach to capital allocation across the Company's portfolio.
· 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).
· Raised $2.0 million via a secured loan to undertake drilling operations on Project I.
· Completed the Project IV farm-out, achieving a carried work programme valued at over $3 million (gross).
· Completed the internal evaluation of Project III, covering the Patardzueli-Samgori, Rustavi and Teleti fields at Lower Eocene and Upper Cretaceous level. This work was subsequently (on the Patardzueli-Samgori field) audited to Petroleum Resource Management System ("PRMS") standards by a leading technical consulting firm and forms the basis for the farm-out campaign.
· Signed a Memorandum of Understanding with the Ministry of Economy and Sustainability covering, amongst other items, the strategic importance of Project III
· Commenced work on the CCS opportunity with the independent evaluation being published in 2024.

[sarah68] 20/7/2024 13:51

how does letting your shareholders know how much they are producing and money being made/lost compromise discussions??????

what a load of rubbish

they just dont want you to know because if they were transparent and produced the numbers i have no doubt investors would run for the hills.....

you just cant spin this....

delist inbound

[jeevescharlie] 20/7/2024 12:54

Read the RNS

“Reporting process:

Given Block's strategy has evolved in-line with the development of its assets, the Company is revising its reporting process. Rather than providing updates each quarter Block will publish shareholder updates in-line with specific news on strategic and operating activity, and to observe financial reporting requirements. The Company believes news of its initiatives and operating developments no longer conform to a quarterly news cycle and therefore risk compromising strategic and commercial discussions with potential farm-in candidates”

[sarah68] 20/7/2024 12:40

soul how can anyone have that information if they have stopped the quarterly updates.....

clearly the reason for this is because they are shockingly bad numbers.....why else would they hide them?

[soulburner] 19/7/2024 22:04

Can someone tell me how much oil Block Energy produce and what level of profit do they make?

[tarby1] 19/7/2024 20:57

Hmmmmm can see a running theme here.... Dodge could well be Skipper, wouldn't surprise me.

[dodge_city] 19/7/2024 16:35

Hey Skipper, are you buying back in.

[batiatus] 19/7/2024 13:25

From 15p to 0.89p

Surely a lot of value there 😂
(Sarcasm)

[sarah68] 19/7/2024 13:19

the only plan B he has is to continue taking a huge remuneration until there is none left....dissolve the company....then star again....

just look at his history....disasterous