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completely agree guys F&F are not good for this company...........I hope they get bored here sell up and move on because they will only play games with us shareholders like they did with Scirocco.........on a side note they seem to target companies with good assets so I guess thats a compliment to Block..........dyor
Mcap will respond to money revenue and in turn share prices will follow. Oil price is now high and revenue has started. If I understand correctly we are 5% away from making a profit and we have a lot of money in the bank for next spud etc. For a small Aim market oily and Gas that’s decent and along with the revenue we have 16aZ to add at a later date plus new ventures that have been stated in RNS’s. If the company is healthy and making money along with good future prospects then we will get our return ! When that happens we can look for new songs to sing , ha ha ! Not there yet but certainly worth holding or adding . But of course DYOR
Guy I always welcome your views. Keep up the good work !
Ps can’t let this post go with out the health warning : F&F is not good for your health .
Straight and narrow please. Im looking forward to when Block is able to show both technical improvment in our capacity to produce sellable product, and the revenue in the bank to show for it. The former should come from Block mainainence of WR16az and the various wells in Bk11b which are being maintained in this Spring. The latter will come once that maintainmence is concluded and the increase in revenue is banked. Just in time for the Major drill campaign to kick off. Oil is now close to the $70 and it will only improve further over the next 6 months as the world ecconomy stutters back to life with Oil and Gas demand recoveres and prices with it.
I know there has been an increase in the share issue , but remember that when PH bragged about 1000 Boepd the share price shot up to 17p ? 2000 Boepd ~ PROVEN ! ~ surely we would need to add a 0 to the current c. 3p .
~ Just as well AJW posts here to keep our feet on the ground ;)) GLA .
Ma2brw: That really depends on the scope of works. Block already have a consultants plan to improve the Oil and Gas output and at the same time reduce the impact of the water ingress down though the failed cemenation. The overall plan was to install and Oil and Gas pump at the far end of the slotted liner, with the assumption that Gas and water would continue to rise to the surface under pressure via the main stem of the well. The issue is then what remediation activities Block undertake to seal that failed cenentation if any at all. Block priority remains not to loose the hole and the investment to date.
21.18 : Well I hope it will be after Wednesday ! I`ve been buying more this week and intend to have another couple of bites next week at this absolutely absurd price . What ever happens , whoever wins , no matter what the outcome (and there are many strange questions to be clarified here .) the valuation placed on this Company is , imo , beyond stupid . I believe that the reason we have this ridiculous valuation is in the main due appalling sentiment that has been largely decimated by operational errors , very poor PR and a complete lack of trust and respect for the CEO . Regardless , fundamentals always win out in the end and it would seem to be almost certain that the value in the business will be recognised in the very near future , GLA .
Malcy must pop in and read from LSE billboards. Media is a big part of everyday business and this bb is part of it. If he did read the comments then he is aware of how a rather large group of shareholder feel about him and about F&F asset striping solo and the concerns we have about their motives!
I notice Malcy has stayed away from Block today. However, HEI has placed @ 10p a share and raised £10 M Question did the old Solo Mob take part in the placing, or did they allow their existing stake to be diluted further. At least we are producing revenue.
BB, untill Block show recipt of Gas cash from Bago, and the WR38z flow results, hopefully by the middle of next month. The share will stay in this trading range. You can whinge over PH as much as you like, but his hands are tied by the FD, the board as a whole, as well as other drilling decisions deligated to other Technical board members. We may also see a return to production from WR16Az with a much better well structure in place. DYOR
All true, but the SP isnt rising, thats the issue here. Its all good news, no debt, oil and gas already being sold, lots more on the horizon, a good management team, a co-operative government, a ready buyer in situ. No negatives. The only downside is the ceo has played this game before, took us upto 17 pence and back to 1 pence so I think the market just wants to see moneyu coming in and oil and gas flowing for a while before it starts to re-rate. Fingers crossed PH has lost his story telling books and sticks to positive fact. A good result on 16a could easily put this back to 10 pence and beyond.
OIL RISING BUT WILL FITZPATRICK/FERGUSON LET IT RISE?Fri 08:25
Doubt it. Till the dodgy two get a stranglehold of the company games will be played. I emailed the company last week to voice my concerns. Let’s see what happens. If those two were sold their stock and left this stock alone ie getting Malcy to miraculously deramp every time the stock is ready to fly we would be at double where we are now.
The price of oil is showing real strength and indicators are pointing towards a strong 2021 for the black stuff and the gas tender will almost certainly be higher post heightened covid consumption.
The CEO has put £110k in 4 weeks ago, he knows what's coning this year more than anyone, the market cap of £16m is one of the lowest around for a debt free producer and not forgetting the 6.8m cash reserves for the drilling campaign starting with two new wells, with each targeting 600 boepd starting in May, ZJ-40 drilling rig Inspected and ready to go.
?They did not turn the oil until late jan / early feb, the gas was mid feb and they still made $1.62m in revenue to end of march. Not a bad production figure of 44,394 boe of oil and gas in this time, we are now in the second quarter which is a full period so will be a big increase on the first quarter with also in addition to the new drills we have the possibility of 16aZ to be reported on top of current av. 555 boepd and Schlumberger block workovers as current daily foundation cash flow also.