Block Energy Share Discussion Threads

[metis20] 01/4/2019 08:28

From HY report

At US $60/bbl Brent, the 325 bopd forecast for sidetracked West Rustavi well would:

o Generate free cash flow of US $3.6m per annum

o Pay back well costs in less than six months

o Open possibilities for further sidetracking operations at West Rustavi and exploration of the field's legacy gas discoveries

and today we have

Block Energy Plc | Index: AIM pan>Testing rate of 1,100 bbl/d ('barrels per day') on a one eighth inch (⅛ inch) choke significantly exceeds base case production rate

· Well performance ranks amongst some of the best drilled in Georgia

[johncasey] 01/4/2019 08:16

makes ukog and angus look silly..i'm selling out of them and buying more here...seen the light

[roy keane] 01/4/2019 08:10

For sure...

[edgein] 01/4/2019 08:05

Well done fellas, if only FRR could drill wells like that one!

Regards,
Ed.

[costax1654x] 01/4/2019 08:04

This will end up over 10p

[hchamps] 01/4/2019 07:35

And the rest

[bad gateway] 01/4/2019 07:23

Profitable at 100BPD too. Shouldn't be an issue any more.

[neo26] 01/4/2019 07:21

Best well in 50 years.....Mkt cap only 10m...

[bad gateway] 01/4/2019 07:21

and best of all one quick party then its on with the next one. Could have 2kBPD by June and they're £10m.

[tidy 2] 01/4/2019 07:17

5 bagger :))

[bad gateway] 01/4/2019 07:10

Just WOW really,What a result and restricted by the capacity of their equipment too.

[spangle93] 28/3/2019 07:35

Interim Results published



Still have £2MM cash and equivalents.

Does anyone know what intangible assets are in the context of their accounts?

No progress mentioned on the sidetrack wells beyond what is already published, but another mention of looking to do deals in, and outside, Georgia

[spangle93] 28/3/2019 07:35

Interim Results published



Still have £2MM cash and equivalents.

Does anyone know what intangible assets are in the context of their accounts?

No progress mentioned on the sidetrack wells beyond what is already published, but another mention of looking to do deals in, and outside, Georgia

[neo26] 27/3/2019 12:02

SpangleThe interesting bit from that article is that they dont have a clue how commercial will it be or if it will be commercial.So 325bopd maybe alot higher, he has confirmed multiple shows of oil and gas and plenty of pressure.Our partners drilled 6 wells in ninotsminda and they got 5000bopd flows.Now if we manage 500bopd from 16a it gets interesting...

[spangle93] 26/3/2019 20:08

Neo - there's only a certain number of times I can watch/listen to our CEO. Thankfully he must have good guys working in the field.

[neo26] 26/3/2019 15:41

Spangle

Upto date


We got interims this week.

[spangle93] 26/3/2019 08:43

Thanks dburton. The video is a little out of date, in that it still talks about having to drill sidetracks to attain 75% of West Rustavi

The testing program at 16A should be 2 weeks, so hopefully by the end of the month, but 900 bopd is now end 1H

New opportunities are being evaluated as well

[burtond1] 26/3/2019 07:34

The last few weeks have seen @BlockEnergyplc delivering strong newsflow from its highly prospective West Rustavi asset as well as its other fields in Georgia.#BLOE CEO Paul Haywood talks us through his strategy for taking the business to the next level.https://total-market-solutions.com/2019/03/26/block-energy-business-strategy/

[neo26] 22/3/2019 10:49

htTps://www.proactiveinvestors.co.uk/companies/stocktube/12696/block-energy-to-begin-flow-testing-at-its-west-rustavi-well-16a-12696.html

[neo26] 21/3/2019 14:43

Paul on Vox
Interview starts 13:00

[neo26] 20/3/2019 16:19

They producing 60bopd at norio and this will increase as they continue with the workovers.They will be drilling one horizontal at norio with base production at 100bopd.Total target in norio is 250bopd by june.In Rustavi they have just tdd at 16a, estimate 325bopd from this well as soon as this completed they will move to other workover well not too far away.Confident by june they will he producing mininmum 650bopd from Rustavi.All these work commitments are fully funded.16a well can be put in production quickly as all infrastructure is in place.Company is a steal at current price.

[costax1654x] 20/3/2019 15:18

We shall see!!!