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Just added to my holding. Way undervalued again.
i remember this stock moving from 2p to 16p in a matter of weeks....platform has been set now imho.....just have to let the directors do their work now.....dyor
Once the pipeline comes online Bloe will have around 350 bopd of worth approx. £4m plus the gas. worth another £1m. Some analysts are predicting $50-60 oil in 2021 which will be great for Bloe's finances. and shareholders.
MP
every 1000 bopd = a million quid a month to block at slightly higher oil prices. bring it on.
It won't take much to move this stock up once the Bago RNS lands. Hopefully those that were over exposed or wanted to sell in the 4-5p range took their chance and the share price has fair wind to 5-6p on good news. I don't think it will take long to lay some plastic shallow piping, I'm expecting the Bago RNS within the next 6 weeks or so.
MP
I and probably others, had adopted a strategy here.
I over allocated to Block, when the price went down as far as 1p per share and I carried on over allocating in the 2's - that gave me an average of 3.37p.
When this recent news flow arrived and the price soared, I began the next part of my strategy - to sell the over allocation. I sold a chunk at 4.4p and some at 4.95p. I now have a right sized allocation, a profit booked through the sales and a new average of 2.63p.
I will be holding the allocation I have well into next year and if we do see further weakness to the extreme, I will no doubt over allocate again.
Money till be transferred from the patient to the patient and when operations underway they will kick themselves for that. A big milestone has been achieved by the bod with schlumberger now we have to let the company bring in the money. I will add on weakness here for the long term.
I think the BoD will simply get on with the business of managing the Company , there are a lot of challenges ahead .
In truth , as individuals we are but canon fodder .
My canon has it`s sights set 365` before iI start falling toward my target !
The rational being that the higher you aim , the more likely you are to go further ;)
I agree , but how soon is soon , I am staying but people get impatient. I think the bod will know this and release something ASAP.
Everyone’s holding because from here only value will be added imho. Cash coming in soon.
MP ~14.13 ~ Exaclty my point !
Except ~ I can assure that MM`s ( In a business seriously focused on maximising returns ) regard their business as a game of
risk .
In this game of risk , where they must remain risk adverse , their game plan is to always offer price ahead of information .
It is extraordinary just how well connected MMs are to events as they unfold , in the main they are always ahead of the curve and certainly ahead of the herd . If they were not , they would not remain long in the game !
How do they do this ? ? It`s fascinating .
Of course movements are influenced by sells and buys , it`s a game of chicken and egg !
We , the players have to second guess , and we are the real risk takers .
BTW ~ they are a very secretive bunch ~ a member of my family was a member of the `Club` !
GL
None of the Scottish investors have been selling, they were just diluted slightly by the options earlier in the month. I doubt any of the Scottish investors have any plans of selling until the drilling starts at the deep gas play. I believe the price activity is normal private investor trading activity. Imagine you bought a shed load at 2.5 and you sold half at 5, you would have your money back and still have skin in the game. You could also buy back in at 4 and increase your holding by a large percent. I personally think there's more to come in the very short term with the Bago pipeline and sales RNS expected.
MP
TR1 out - event changing holding.
My gut feeling is that we will be seeing some more TR1's over the next day or so that will reveal who's been doing some of the buying. I doubt that the trading with the volumes we've seen recently is all PI buys /sells.
I just bought £2k extra but that's it now.Im top heavy with Block.
At this point Blocks business model is all about economies of scale . They need to get that EPF utilized to the max and start generating profits. I don't want Block to hang around, I want them to get production up. The quickest way to do this is raise a few mil and get producing the low hanging fruit. I believe Block to now be in as good a position as they've ever been in.
MP
The price action is not some MM game. The price action is down to buyers and sellers. Some folks are simply cashing in or selling and buying back in . Some sellers may be worried there's a discounted placing on the horizon. I think there could be a placing due for a few million but I think this will occur after Bago oil and gas sales . If Block do need to raise I think the Scottish investors will be involved. Let's hope if there is a placing it's well north of 5p.
MP
In view of recent developments , a somewhat disappointing share price .
What are the MM`s up to ?
Are they waiting until they actually smell the GAS .
Do they want confirmation of sales to BAGO ,
OR;
Have they / others got wind of some C R .
Recognising that a raise is possibly required at some point , I would be very disappointed if they had slipped it in so quickly at this price level when further news is likely to be so close ~ nearer .6p , or even well beyond that perhaps .
Of course there would likely be `Some` who would strongly support a raise at this level , because adding now will probably dramatically increase their gain in the future and / or provide `Them` with a great opportunity to raise their own interest in the business , especially as they are likely to be very close to the story unravelling here ~~~ Mmmm ~~~
Not concerned , only a little irritating to see this drop after such stunning revelations .
Come Q2 and I think .6p will be so far in the rear view mirror , you wont be able to see it !
GLA .
MMs have stock i see , the usual
Anyway the interview was very professional and may have had education to present , main points is scope of works and more RNS for the future.
Has a thumbs up from me
There again, the MM’s might of got a sniff that there was a RNS coming but not knowing the content, decided to play safe and keep it low?
Yes - AJ will be keeping an eye there
The 120m 0 cost share options and up to 10m options at $0.05 are not exercisable for 12 months, but it would be worth any LTH's putting the this date in next years diary to remind them the issue will become an option.
re... do not forget that an additional 120 million shares will be issued to schlum soon as part of this deal.
Terms of the Acquisition
Consideration for the Acquisition will be satisfied by the issue of share options ("Options") that will give Schlumberger the right to acquire 120 million 0.25p ordinary shares, representing 23.3% of Block's enlarged ordinary share capital, at a nil exercise price ("Base Options"). SRCL is being acquired on a debt-free, cash-free basis. If it is determined that SRCL has net working capital assets following completion, Block will issue up to 10 million additional Options to Schlumberger. For this purpose, it is agreed that the Options are valued at US$0.05 each. This imputes a value to the Base Options of US$6 million. The agreed value of the Options represents a premium of 92% to the closing price of Block shares on 25 March 2020 of 2.2 pence. The Options are exercisable between 12 and 24 months from completion of the transaction, unless there is a change of control or general offer in respect of the Company, in which case they are exercisable immediately.
Good to see todays news - do not forget that an additional 120 million shares will be issued to schlum soon as part of this deal.
Fully agree, if there was a raise to fund "low hanging fruit" cash generative wells I think the market would view this as a positive. I'd personally like to see any raise above the 5p mark.
MP