Block Energy Share Discussion Threads

[babbler] 09/10/2018 11:23

First well is due soon. Wouldn't want to be shorting when that comes in... Imo.

[elan_1] 09/10/2018 10:50

babbler - im not saying it will get that low but i am saying that is where the shorters want it.It is a fact that new IPO companies with low liquidity are the easiest shares to short,but that also works both ways of course because some tasty newsflow can also propel this northwards just as quick.If they can get to end of phase 3 and stay under say 500m shares in issue and hit all resource targets then this will turn into one of the hottest shares next year ( ten bag region ).

[babbler] 09/10/2018 10:37

Lol... OK then. With the news flow hopefully starting ASAP I doubt it but being aim anything is possible.

[elan_1] 09/10/2018 10:21

It looks like the shorters are determined to drive this down ahead of the upcoming events with the drillbit.If they take it under 2p i am going to double up!

A 68% retrace from IPO will put this at around 1.28p which is where strong support
will bounce this IMVHO

[babbler] 08/10/2018 22:40

100 not 10p

[babbler] 08/10/2018 22:40

Break even is 10p bopd. They are planning 900. Ie 9x break even. Ie huge profit to be had. So not out the question.

[euclid5] 08/10/2018 20:15

40p per share x 259m shs = £103m market cap !

where did you get 40p per share target from?

[babbler] 08/10/2018 11:18

Yup. Any share that's rising will get the usual placing deramp. This is close to 52 week low so doesn't need deramping lmao.News will come very soon imo. Of commencement of operations.

[elan_1] 08/10/2018 11:12

From Company website - They clearly state they are funded for stage 1 so if all timelines are met they would not need to raise more funds till mid to late December.If they can meet targets at stage one to three at estimated levels this would be worth near to 40p per share



Business Strategy


The company has planned a three stage work programme to develop the significant potential of its assets:

Stage 1 (2018):

•Increase production to 500 bopd via a low cost low risk workover programme and sidetrack of existing wells

•The company will break even at 100bopd


Stage 2 (2018-2019):


•Test and flow gas in previous discoveries of West Rustavi containing significant gas potential

•Sidetrack existing wells and drill new horizontal wells to increase production to 2,500bopd


Stage 3 (2020-):

•Bring West Rustavi gas online

•Estimated net back of ~$3/Mcf

•Expand asset portfolio in Georgia and wider European region

[elan_1] 08/10/2018 11:04

babbler I actually agree with you those derampers know this is going to hot up soon and that is why they are using the placing scare tactic IMO

[babbler] 08/10/2018 10:54

Hilarious isn't it. Mou in place. Rig contract signed. The bod have said fully funded only 3 weeks ago. Fek off derampers.

[euclid5] 08/10/2018 10:07

usual possible deramping talking about a £2m discounted placing!

[babbler] 08/10/2018 10:05

Perhaps they know that q3 is here and that is news heavy quarter so setting themselves up for that no?

[babbler] 08/10/2018 10:04

Rns 10th SeptemberThe Company is fully funded to complete the first of a three phase work programme focused on scaling up production to a gross 900 barrels of oil per day within 24 months and on testing legacy gas discoveries at West Rustavi, which have been assigned 600 bcf of gross, unrisked contingent resources. 

[babbler] 08/10/2018 10:01

Why when they said they are fully funded.

[babbler] 08/10/2018 10:00

Fully funded for the work over programme according to their recent rns.

[euclid5] 08/10/2018 09:53

Have they used up all the £4m they raised in IPO, plus what will this £2m be used for?

Thanks

[elan_1] 08/10/2018 09:50

Those rumours of a 2p placing I thought unlikely a few weeks back but after recent developments it is clear the mm,s are aware of something IMVHO.I say to the BOD
get on with it quickly if you are placing at discount because there are a lot of
new potential investors watching and waiting here.

Once they sort funding this could be the hottest share in 2019 if all goes to plan!

[babbler] 08/10/2018 09:48

Someone seems to be loading up on the quiet. Nice. They know good value low risk share when they see it. Imo.

[babbler] 08/10/2018 08:53

2 100k share buys this morning...

[babbler] 08/10/2018 08:49

Guess the mou with one of Europe's largest companies think they are spives too. Hmmm... Must have shown them something for the mou to be signed.

[grannyboy] 08/10/2018 08:14

Yes and usually with most aim companies, they are run by spivs who are only to ready to tell everyone how under valued a company's share is..until they have to get round to actually proving anything..

[spangle93] 08/10/2018 07:51

Babbler - maybe it's undervalued because people are waiting to see whether they can live up to their words and deliver value?

After all, if it's truly going to get to 90p, then whether you buy at 3p or 5p or 8p, you'll still do very well.

Not a de-ramp, just a genuine suggestion that thus far, they haven't added any value to the assets they acquired; it's all been words, plans, negotiations, youtube videos. So if you're buying at these levels, it's based on expectation that the assets will turn out to be as expected, and faith that management can deliver the goods.

[babbler] 08/10/2018 07:38

So undervalued. Ridiculous. Just 100 bopd to break even and they plan 90p withing 18 months. Jeez.