Block Energy Share Discussion Threads

[toogood4me] 01/4/2019 09:06

Small stop as some jump off. Mms will accumulate and ask will jump. Nice pattern here and looks very very strong for a rise Next rns is good will also help push this into double figures

[toogood4me] 01/4/2019 09:03

Will be over 10p soon at this rate Buy and hold share like some of these other oilers who started under 10p but grew to pounds

[cashandcard] 01/4/2019 08:58

These are excellent results, well done!

But I notice the would 'initial' and that needs to be understood in the context of Georgia and Azerbaijan where initial rates tend to be impressive, as a slug of oil flows out. But then a chunky decline sets in, noticeable between 24hr IP and 30day IP. I think management have done well to manage expectations at 325bopd and that's very realistic in longterm.


Cash

[johncasey] 01/4/2019 08:56

whats going on? buys at nearly 6p and offer still at 5.5p

[edgein] 01/4/2019 08:55

John,

That's a pity it makes it harder to get filled on the bid! :) Some very positive stuff in that RNS and previous ones regarding the material nature of this programme to the company. 2P of 1.6mmbbls and 60bopd, vs 2C 38mmbbls (and the large gas 2C too) and potential of 1,100bopd with more sidetracks to come. Management thought that Circa 325bopd would be tranformational. The fact that the 1,100bopd was restricted by test equipment and they had regular gas spikes while drilling the horizontal and stable flowing pressure on test suggests gas drive in place. Market seems oblivious to this at the moment. If they can sustain flow rates anywhere close to this I'd expect a material amount of 2C to get upgraded, material that current 2P is just 1.6mmbbls. A lot of folks will also be eagerly awaiting the next sidetrack now too.

Agree ANGS and UKOG I took back off my watchlist a while back, BLOE was there for a reason.

Regards,
Ed.

[toogood4me] 01/4/2019 08:47

270m shares in issue and low Mcap with exceeding results. Buy the dips here

[johncasey] 01/4/2019 08:45

makes a change no derampers here

[top tips] 01/4/2019 08:39

Been accumulating since the dip at year end. Very good news today.

[toogood4me] 01/4/2019 08:39

Under radar share I'm in

[johncasey] 01/4/2019 08:32

this share is well off the radar...wait until the herd arrive..could get interesting,i think 30p easily

[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