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166,539 @1.30p 09.11.55
67,681 @ 1.25p 09.09.01
London Stock Exchange site
Anybody's trades still not showing, had two top ups this morning 166,000 and 67,000 to bring my average down neither showing.
Anyway ph came out today and reiterated where bloe are at present also giving the right sound bites for the company going forward.
We should be the other side of 2p and we are in by far a better position when we were there last year gla
Well just stuck another £2500 in GL all genuine holders could be a very bright future from here.
My buy not showing from this morning.
Crazy mkt cap, a very good podcast and rerate coming gla
So far today,only four sell and 19buys!!
When mo seller left,mms will send this higher without letting many getting in!!
Hold for gold oil is at 87 and RERATE has to happen here!!
Gla dyor.
Also cash positive!!
And no DEBT!!
Will be funding further drilling from revenues!! No fundraise needed!!
What not to like here??????
MMs know when to take this higher,they will take this up even with very little volume!!
Buy and hold,this got to go much much higher!! 517bopd plus gas and mcap just arouy10mil?????
Revenue for this year will be higher than mcap!!
Hepseal - many thanks.
are we being held back because of that muppet putin though because the last rns was as good as any we have had
Even so there has never been a better time to invest or to average down, this is now de risked to a large extent.
Good thing is that, we are producing with good rates and there is no decline!!
And it is from 16th of January,so if there were any problem or decline in flow,we would’ve found out by now!!
2.25p next gap to be filled!!
Hold for gold!!!!!
rxdav - number of sidetracks?
If cash flow is the main consideration it is going to depend largely on if the next well is a success or not, so:
Worst case: If next well is a failure then that may be the only well actually completed during the calendar year.
Best case: If next well is a success producing similar revenue then a total of 3 side tracks could possibly be completed.
As you say, very broad brush!!
Everyone agrees this is vastly undervalued, I think we will get a re rate soon, MM’s should get the book profit they’ve been waiting for next week. GLA
I actually think it is very significant news that they are not going back to the equity markets any time soon. The fear of an equity raise was realistic until today, as that was the previous history on the back of previous 'positive' RNS.
I suspect, given the still relatively tight margins, that the next side track will be the one with the best chance of success rather than, for instance, the one with the biggest reservoir. That would be prudent in my view.
Nice to see PH calm and collective,it actually seemed like he was holding good news back for a rainy day.
Hi Hepseal: What's your broad-brush appraisal of the number of side-tracks (not new wells) they could fund (from revenue/profits) and execute this calendar year - ball-park figure?
rxdav - Just listened to the podcast and agree with your appraisal.
It was good to hear that they have no plans to go back to the market for funds, however contrary to what some posters think I do not think they will have an abundance of cash at their disposal.
According to my sums, there current revenue is now about £9.5M pa but based upon statements they have made previously I reckon there running costs are about £5.5M pa so as you say the next side track also needs to be a success.
GL
A good podcast overall. PH not trying to over hype the situation - cash-flow positive - no cash raise on the horizon - next side track being identified by technical team (choice of 12) and funded from revenue - believes BLOE significantly undervalued and he's likely correct (but we all know why). 'Proven track record of being able to execute in country' - hmmm - but I'll give him the benefit of 'execute' (it's not the same as 'successfully execute' though). Nevertheless, whilst it's not getting me overly excited - nothing we didn't already suspect but he did clearly confirmed some issues (cash flow positive and no raise due) - it did project a quiet confidence. For once I think PH got the tone just right here - but the next side-track has got to be another success if he want to demonstrate they really have cracked the geology (some may wait for that result before committing further I suspect). Only fly in the ointment is the Russia/Ukraine situation - whilst I'm clear it has not nor will impact SP heavily if the current status quo is maintained - it's a different issue if they do invade. There may be those who want to wait until the end of February when if it hasn't happened (due to temperature/frozen ground) it likely won't - and no further drill results due before then I reckon - but each to their own risk profile. Just seen SP has risen to 1.3p - so some are buying now. GLA
The Vox Markets Podcast with Zak Mir: Paul Haywood, CEO Block Energy
https://www.**********.co.uk/articles/traders-cafe-with-zak-mir-paul-haywood-ceo-block-energy-af986bc/
Got to be worth a shot, will be doing the same tomorrow,but will have to sell something first. Personally I think it's a no brainer.
Well I've given this some serious thought - and if the SP doesn't rise dramatically tomorrow (and as all AIM aficionados know, Friday is traditionally the weekly 'day of death'!) then I'm going to make a further buy. This could well be good money after bad, but on the balance of probabilities I now judge it a weak buy. If I'm being honest this as much a mathematical conclusion as one based on fundamentals. As the saying goes 'one swallow does not a summer make' - PH's first dart in the board - was it luck or skill? However, I'm going to take a risk - and as Hawkspear noted earlier today - it does work wonders for your average at these levels. GLA
Can’t we all agree that Bloe need to focus on being much more profitable and creating value for us shareholders? A reason for investors to (continue to) support them and buy a piece of Bloe. PH and chums must focus on delivering a credible value. I’m not interested in revenue. As a shareholder, I’m interested in profit. Bloe need to up their game in visible market-facing leadership, effective comms and the delivery of a credible and profitable FDP. All imo of course.
@holyroller: Good piece - totally agree.
I always said that drilling well JKT1 was the last chance for Haywood and the rest of his crew. They needed to deliver in excess of 300 bopd to deliver on their claims that they had cracked the reservoir geology and if they did not deliver this then their time at the company should be over.
They delivered on this and for that all shareholders should genuinely congratulate them as this means that the company is actually in quite a good position going forwards. However, the success of JKT1 was the minimum that they required to stay in their jobs and now they really need to start delivering thereally big value to shareholders.
The company are now profitable which is amazing news, but what we need to do next is to as quickly as possible start putting together a drilling programme which can be carried out without diluting shareholders further. The company have already said in their 11th Jan RNS that they are planning to go back and drill a sidetrack at WRB01 and that this will be funded by production revenue. If they deliver on this in the near future and can prove beyond all doubt that they completely understand the geology of the area then the share price should rocket, especially with the oil price doing the same. We would then be able to drill a next well and a next well etc.
So, well done Block for the successful drill of JKT1 and now let’s go on and successfully drill a new sidetrack at WRB01 to deliver us another 300+ boe per day. Then we put together a full field development plan and start drilling constantly!
Maqsood7
I am going over old ground here but I still maintain that Block's current revenue is approx $13M pa and not $14M pa as you keep stating.
This weeks RNS stated that the revenue from JKT-01Z will produce just under $500,000 per month at todays prices which makes just under $6M pa.
If you then pro rata and add in the Q4 production figures at todays prices that makes approx $13M pa. (£9.6M pa)
I really don't care if you believe me or not but unless you can prove otherwise those are the figures I am working to.