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Just had a quick read before dog walking duties. Good progress with EPF considering Covid restrictions Pity about Roger leaving but he will be still be available for advise. Note "Block has recently consulted with it's major shareholders, who have confirmed their continued their support of the Company and it's directors. Are you reading this Malcy
A subtle 2 fingers toward the Bull$hyters.
Block has recently consulted with its major shareholders, who have confirmed their continued support of the Company and its directors.
Looks good to me..first gas Q4 good progress all things considered.
My takeaway.
1st well connected to epf and tested.
2nd well connection is under 6 weeks (Beginning of q4)
Bago pipeline to epf completion before end of year. (End of Q4).
Chunk of oil sold in August which will not be in financial update next week.
Schlumberger acquisition on track and inspection/data analysis to provide asset news on completion.
Good update, black and white.
Re rate due, we should have a blue day today after a positive operational update, Gas sales commencing over the next couple of months, EDF installed, Oil being produced from Norio and Satskhenisi support confirmed from major shareholders and Schlumberger acquisition of SRCL. Everything is going to plan, blue day today.
Who thinks that there maybe a schlumberger director on his way onto the Block board, so that they have a presence at the sharp end?
they said they will release the accounts by the 30th September - that is four trading days.
Was expecting at least 15% on the back of todays news... oh well good opportunity to add as i can only see this going one way
Good update but could have done with gas flow numbers from 16az.
MP
Good morning everyone, couldn't agree more Bigbench. What's your opinion of what I was saying regarding board members? Sounds an obvious move in my opinion. Hope you are keeping well in these testing times, thanks in advance.
I think we will be lucky to stay even today, but its not due to the report, it's due to the market in general being on a slide. Just look at the rest including BP.
Could well be Hawspear... it would make sense
Well it wouldn't make sense to engage head hunters for both positions if this was the case.
Understand what you are saying Maladoni, but in these days of seeing to be doing the right thing even if you have selected a person for the job companies still have to advertise a post in the interests of fair play. That said it would make a great deal of sense for schlumberger to be represented on the board.
Yes the spread is annoying but I guess once the gas and oil is flowing even 3p will seem cheap
For sure Hawks that would be sensible and reassuring. Lets see what transpires.
From the wording of the RNS there does seem to be some low lying fruit that can be monetised in the short to medium term from the acquisition. I feel its important we have a few wins on the bounce to install confidence and potential doors to finance which will be needed for the big pay back drills, which is why a lot of us are still here.
Let's get patty well and 200bcf connected up soon baby!!!!! One step at a time. Interesting to see who they choose to replace Roger. Onwards and upwards at team BLOE!
from a poster on another site....i do not have access, so a straight copy from that poster.
hTTps://*********************/companies/uk/block-energy-plc/research/sp-angel/oil-gas-daily-flow/32ae463b-05e0-436c-9a49-269cd3748b56
"Our take: Another strong update from Block today highlighting its admirable operational progress against unprecedented global events restricting human capital and weighing on commodity pricing. The Company will now embark on a step change in cash flows resulting from the WR-16aZ well, with considerable untapped development upside potential. In addition, the acquisition of SRCL will further consolidate Block’s position onshore Georgia, adding another large mature discovered hydrocarbon province to the Company’s enviable portfolio in our view."
www.proactiveinvestors.co.uk/companies/news/929873/block-energy-plc-counts-down-to-first-gas-sales-from-west-rustavi-929873.html
Block Energy counts down to first gas sales from West Rustavi
I know AJ but it shows what is coming in the next 12 months. I believe SOU got to a £1billion market cap without selling a drop of gas! At least we are making huge strides in monetising our gas.
block is holding up well in the market so far.
I note that on a different site, I saw a list of stocks hitting a 52 week low. A few weeks back that list had 5 stocks on it. Today it has 47 stocks on it.