Share Name Share Symbol Market Type Share ISIN Share Description
Block Energy Plc LSE:BLOE London Ordinary Share GB00BF3TBT48 ORD SHS GBP0.0025
  Price Change % Change Share Price Shares Traded Last Trade
  -0.10 -1.63% 6.05 2,182,743 14:37:19
Bid Price Offer Price High Price Low Price Open Price
5.80 6.30 6.40 6.05 6.15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.13 -1.36 -1.20 24
Last Trade Time Trade Type Trade Size Trade Price Currency
15:28:46 O 200,000 6.30 GBX

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Date Time Title Posts
12/11/201915:40Block Energy - Oil&Gas in Rep. of Georgia5,647
24/9/201910:02Georgia oilfields. 2

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Block Energy Daily Update: Block Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker BLOE. The last closing price for Block Energy was 6.15p.
Block Energy Plc has a 4 week average price of 3.85p and a 12 week average price of 3.85p.
The 1 year high share price is 17.80p while the 1 year low share price is currently 2.55p.
There are currently 389,439,667 shares in issue and the average daily traded volume is 3,168,585 shares. The market capitalisation of Block Energy Plc is £23,561,099.85.
cpap man: The whispers are out stan96 that you are more than a bit of a c8nt That is why the BLOE share price is rising....
cpap man: Yet another [so far!] great intra day share price movement from BLOE
cpap man: Yes the BLOE chart is in excellent shape with this slight profit taking pull back allowing BLOE to energise for the next big step up in the share price shortly!
cpap man: Absolutely right T S As I just can NOT possibly PM everyone [and what if one of those POSTERS was a TROLL IN DISGUISE!?!?!] So a short post just to say that I spoke to both the broker and the company. Like you T S it has just been one of the best ever BUYING opportunities @ BLOE BLOE obviously told me nothing market sensitive but it is clear that BLOW are well on track with their 5 well programme which is very well funded [£12M raised not that long ago at 11p] and the vibes are extremely positive. THE BROKER who I know told me some other additional things that I view as extremely positive but that is only for a TROLL free zone such as PM BLOE are looking extremely good again with a share price target of 30p+
cpap man: By all accounts as already alluded to by another poster BLOE are going to use the AGM as an opportunity to release positive news flow plus get the unfolding story @ BLOE out there. BLOE are very cheap @ these low share price levels!
spangle93: I'm sure you'll see more than 8p again, muddyfox. I can't pretend that I understand why they are now so PR-shy - could be positive or negative - and why RNS's are rare whereas previously there was one each time PH blew his nose. But while there's a news void, and until they give the market some confidence or guidance about oil rates, there will be price weakness. The company managed to get new and existing shareholders on board for 11p, so I'm sure they are getting frequent reminders from these investors about where the share price is. It seems that the company was as economical with the truth about the 1100 bbl/d during the sales pitches as they were with private investors. The Mirabaud broker note certainly implies that it's capable of 1,100bOpd. But their target price of 35p/share only assumed 1260 bopd average in 2020, and 250 bopd/well, Should be some information on 38Z sidetrack progress soon. Results for end to June should be out within the next 2-3 weeks ("the Company will release a second set of unaudited interim results for the 12-month period ending 30 June 2019 (which will be reviewed by the Company's auditor) by 30 September 2019") info on JVs possible, or 3D seismic (won't move price much) The CEO also said "We will also continue our ongoing workover programme at Norio, and have scheduled the field's well 60 for sidetracking later this year" Finally, while I suspect that the credibility of his words isn't high, the operational rationale for 16Z in the RNS at the end of July isn't impossible "The Well has produced at an average rate of 295 bopd with an average water cut of 25%, considered to be mainly returned drilling fluid. ..The Well continues to clean up lost drilling fluid and stabilise.The Company is gradually increasing production to establish a sustainable flow rate as the Well cleans up." Given the high fracture perm, shouldn't take forever to clean up, if the guidance is trustworthy So plenty of potential to double the share price by the end of the year
cpap man: Monday 15 July, 2019 Block Energy PLC Block moves to 100% WI in West Rustavi Field RNS Number : 4519F Block Energy PLC 15 July 2019 Block Energy Plc | Index: AIM k Energy Plc Moves to 100% Working Interest in Flagship West Rustavi Field 15 July 2019 Block Energy Plc ('the Company' or 'Block'), the exploration and production company focused on the Republic of Georgia, is pleased to announce it has increased its working interest ('WI') in the West Rustavi licence ('West Rustavi' or 'the Field') from 71.5% to 100%, further to an agreement ('the Agreement') reached with Georgia Oil and Gas Limited ('GOG') on 26 February 2019 (RNS: With immediate effect, Block will benefit from a 100% economic interest in the contractor's share of oil revenue and have greater control over the development plan to realise West Rustavi's full potential. Block is implementing a fully-funded back-to-back drilling programme (RNS: designed to ramp up oil production at the Field and test its historic gas discoveries. West Rustavi has an estimated 0.9 MMbbls 2P oil reserves, 38 MMbbls of gross unrisked 2C contingent resources of oil in the Middle, Upper and Lower Eocene and 608 BCF of legacy gross unrisked 2C contingent resources of gas in the Eocene and Cretaceous (Source: CPR Gustavson Associates : 1 January 2018). In accordance with the Agreement, Block has paid US$250,000 in cash and issued 3,326,268 ordinary shares of 0.0025p as settlement of the US$500,000 due to GOG as total and final consideration of US$750,000 for the increase to 100%. The shares have been issued at a share price of 11.99 pence per share, being the 30 day volume weighted average price per share, in line with the Agreement. Block has also today issued 772,727 ordinary shares of 0.0025p at an issue price of 11p per share to settle liabilities amounting to £85,000 for professional services provided to the Company. Following these issues, GOG's shareholding in the Company will amount to 30,285,070 shares equating to 7.70% of the enlarged issued share capital. Application has been made for the new ordinary shares to be admitted to trading on AIM and admission is expected to commence on or around 18 July 2019 ('Admission'). ETC, ETC....
cpap man: Reference the recent pull back for the BLOE share price my observations are as follows: 1]. Conforms with previous short lived pull backs @ BLOE 2]. Low volumes traded on the BLOE retracement from O/B levels 3]. Despite all the de-ramping rumours in the world including massive dilutive placing the BLOE share price has at all times remained very orderly
tim000: I stated there would likely be a placing a few weeks ago. I continue to believe there will be one. I don't think that's a bad thing at all for investors. The company has to finance a great deal of capex in drilling and infrastructure. It could wait for maybe a year to raise the cash internally from operations, or it could speed up the process by issuing new equity. The latter is much more sensible imo. Witness BIDS. The share price fell back sharply prior to a smallish placing and is now rebounding very strongly, because of the very strong fundamentals of the business. BLOE is no different. If there is a placing, the share price should rebound quickly. And the company will then be in a position to finance most of its short-term objectives this year rather than next. The consequences for the share price on a 12-month view would be overwhelmingly positive.
dearg doom: Block Energy #BLOE Share Price 10p Feeling rewarded for spacing out the doubling of my position over several trades, regardless of the final outcome. Yes, paid a premium price for a small quantity at yesterday's morning open. However, each succeeding multiple purchases have been lower with two purchases today at 10.5p and 10p. A full position now established given difficult sector and market cap size. Unwise, now to add regardless. Time to halt and let the story play out itself. Sellers are taking the fact the news was in reality known and simply repeated. The only real piece of news for them was the near term sale of future gas. Often a large spill in expectations occurs between the initial great-sounding RNS and the follow-on RNS. The fact the RNS did not disappoint was crucial to my decision to add. My view was the de-risking of the project with a realistic increased ambition on Block's management other plans and targets. Block management team have executed in a timely fashion their well thought out strategy. I liked the shares at 4p, but I much prefer them now with the W Rustavi well 16aZ news. A few keywords CEO Paul Haywood from April 17th RNS gave comfort. "happy to confirm exceptional test results" "from strength to strength with a steady increase in pressure" "expected to deliver gross monthly free cash to the Company of US$1m" "switch from flaring to swiftly commercialising its gas at little to no cost" The next update RNS will contain.... "detailed operational market update that will cover its planned oil and gas development. The update will include the scheduled spud date for the sidetracking of West Rustavi's well 38, a neighbour and analogue to well 16aZ, plans for the appraisal of the field's existing gas discoveries, the acquisition of a 3D seismic survey and, a revision of the CPR consequent to the performance of 16aZ." Keywords "revision of the CPR consequent to the performance of 16aZ." Expect shares to start creeping higher early next week. Otherwise, why would I buy? The next spike in the share price on news won't see shares acquired from any willing sellers so easily. Regards Dearg Doom
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