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15.44 ~~~ Sadly you`re right Gizzard , this used to be such a good Thread .
I suspect that the continued decline is a consequence mainly of continued selling be Miton .
Once they are finished , and they have to repay their investors in August , I think we should have a flood of news , and a dramatic sp recovery . i hope so , I bought some more today , and intend to buy more should the price weaken further !
Couldn't agree more Gizzard. The doom merchants are just miserable gits that moan all day at work if they've had a bad journey in or the weather is not to their liking. They aren't professional derampers as some like to think because they are clearly very pained by the slightest dip in price.
The other point is this, with the old plan and no money as placings are a non no, and no production revenue because of legal controls over flaring, the share would have free fell flat on its face.
By not drilling WR38 immediately after WR16aZ which was fully funded and still is. Block has met their breakeven targets and a bit more over the last period since March 29th.
They now have an increased number of IIs and are beginning to use the $12M which burning big holes in Blocks pockets.
The WR WI to 100% has removed a JV impediment, the 80 Sq. M 3d survey meets a major mile stone in the WR PSA which has to be done by a fixed date in the contract.
I am also beginning to accept that DD is being under taken on additional Acreage and contract stipulations, which in turn affect any Ops plan PH issues.
People get frustrated very easily these days and want returns within days. The reason why they went to the market for money is because there strategy changed once they knew how good 16az was and wanted to do essentially a land grab.
No hidden agendas here just negative spin, unless it's gifted wrapped then forget it.
Going forward I'd advise PH not to do any more interviews because they just pander to the doom-mongers. He can't win IMO.
Djm1 - you said it much better than me. Glad to hear that I am not the only one frustrated and wish you the best of luck here too.
I agree Fast Money. PH stated this was fully funded long before the result at 16az so w38 should have been ready to go by now, we have the rig so waiting for the pipes at this stage of proceedings feels a bit slack. I can understand not signing up to a storage deal until 16az proved what was expected internally, fair enough, but if as they say they expected 16az to do the numbers all along then the follow up plan should have been there in an outline form all along. I don't like seeing the share price drift, my average is is not down at the low 5s etc, i bloody wish it were. I think it will come good but i don't want to see another interview because it makes no difference to anything. Only an RNS and preferably in the time frame indicated, you cant trust IIs to hold out till the end they could sell in to rises for some time holding back value to PIs. The goalposts have moved on a time frame basis and not everyone here can wait till the big party at the end, something that many here don't appreciate or smugly don't care about. Despite all the congratulations and optimism, you cant take those to the bank. Fingers crossed for Monday. GLA
I’m frustrated that PH said a fund raise wasn’t needed in a few interviews. PH blatantly ramped the hell out BLOE at 17p prices locking in a load of PIs in. Only institutions could invest despite me asking well before any placing if I could partake in any future fund raise. Storage news took forever despite promising earlier info. The full ops was expected along time ago and yet we still wait. Last PH interview said in two weeks, that was two weeks ago. Another missed date. No confirmation that we are even producing at 16az, why not? Are they still stabilising the well? Not one person mentioned the riots in Georgia and west Rustavi TV calling president Putin every name under the sun, yet this stock is the greatest thing since I’m, every other stock out there. The interviews that PH undertakes doesn’t align with actual official news and promised dates. Oh and PH says ‘Um’ so many times that you could literally half the time listening to it if it was edited out.
FastMoney: Sea7 reported he jumped at 15.65P I do feel for those spiked but this may well be a short bump in the road.
But much upside to come.
From now until 2023, we will hit 21p at some point!!!! HEARD IT FROM ME FIRST :D :D :D
Peels may well be on at 10.8 but he's offering at 11.8 - on the other hand STFL is at 11.5 and offering at 13
so at the moment until he's on 10.8 then that price is irrelevant until it's reached.
You'll never beat the MMs unless there's positive news. Anyone without L2 are trading blind and at the mercy of them.
How about allow some frustration on the board and stop the forever ramping and put some pressure back onto BLOE and PH.....
what exactly is it that you are so frustrated about?
Right now, on Level 2, Peel are quoting for a price below the placing and a price we saw in April yet the rampers don’t seem too bothered that that price is showing and just state future prices will be zillions above the current price. Well guess what, you said this would be in the 20ps end June and then July and now August and now in Q4. Oh well I guess you can just keep changing your prediction and you might be right one day and call yourself a genius off the back of it. Well let’s see if you are correct with your latest prediction which falls at the same time that most investors bale out for the summer. Whilst Trump is playing the trade card with just about every country on the planet. BREXIT continues, Iran games lifting the oil price yet BLOE still doesn’t go up. How about allow some frustration on the board and stop the forever ramping and put some pressure back onto BLOE and PH.
AJW - I’m nowhere near a paper loss?! I have an average of mid 5p. I wish I’d sold them at 17p or as close to it but then that massive placing happened.
parkez they would have run out of money - no gas flaring - no oil production.
No oil production - no Bucks to pay for Buck Rogers.
The quote is from the Right Stuff - Mercury pilots talking to NASA manager weenies.
Come on Guys and Gals do you not know what the Kura basin is about - Gas with oil.
Gas monitisation costs and arm and a leg but what where the big bucks are.
Gone the dogs this bb - banal dross.
FastMoney you only realise profit and loss when you sell the Bl~_ody things.
With a bit of patience your paper loss will turn into an actual gain if you sell all of them.
Around mid Oct if the project plan has kicked off on time.
DYOR better next time.
As I am, but I do know the operational differences between a spade and a shovel.
Or that well known shorter TWaat.
Off topic sorry.
Big bench you likely bought earliest of 9th April and then bought later after the current price yet you have double the shares I have. You must be on massive on a losses? Not surprising since you were ramping RMP at 5.55p and telling everyone to buy only for it to be worth 0.5p a week later. How do your morals fit with that one? And you think I am the *******. Look at my history, I tell the truth and don’t ramp or deramp unless considerable proof. Look at Bigbench history and you will see a lot of bull****. Do not trust this guy, don’t take my word, read it’s history. As I said I’m invested here and want some great returns but watch out for the rampers out there who don’t give two ****s if you lose your money. Hoping for full ops update on Monday but not holding my breath.
Yet I prove that I have an investment, you pretend to have a investment of a gazillion shares
Why would they be waiting for a new drill pipe?
original strategy W38 would have been drilled and tested by now, and yet they state they are waiting?
if Block had kept to the old plans...would they still be waiting?
Do I think the value will recover yes, once confirned production oil is shipped into store.
Will it rise further - yes on Spuding the mirror image well WR38.
Even more so on reproducing the flow rate for both GAS and oil.
A Bago connection to the WR16aZ area would be the bees knees to allow continous oil production instead of in 60 day licences.
On any of the above, exceding 17p is very possible as we have been there before.
DYOR but the CFD/Shorting window is closing
Thanks thats a good excuse to rerun the last few interviews over the weekend...
sure there will be lots more i have missed.
Interview about three perhaps more interviews ago.
PH was asked a question about the WR38 drill set-up and he commented on the fact that is was better to get a price and order before drilling started as they put the price up after you have started drilling - CEO over an Oil Barrel LOL. I have commented on it before with the term captive audience.
FastMoney your post shows the real reason you’re pee_d off and the underlying reason why that growth from sales would not have worked and Block ending up back into .70s after crashing and burning with no cash and no continuous oil sales.
I do sympathise having averaged down a portion of those I bought following the $12 placing price down to the .975 post placing price, not ideal but have recovered with a better average.
West Rustavi is not just an Oil field it’s a massive multi-layered Gas field with lots of Oil over laid on the top in the three Eocene sections. The other point is the N60 side track well in Norio is likely to be the same GAS and oil. Checkout what Canargo was doing with the N72 well on the Web and what happens when you lose most of a drill section down the hole?
It’s the real reason why the field was shut in in the nineties, they couldn’t sell the gas. In fact Canargo has given gas away at no cost into local distribution pipe networks to prevent flaring and allow Oil production to continue.
It’s very simple Georgia will not allow excessive production Gas flaring to extract oil, no Gas connection and no flaring = no oil production.
To do this right Block needed the Placings with the IIs to do it right and protect the share value. 90,000 B storage, local distribution storage areas and Gas monetisation metering areas are not paid for with chips. They are paid for with cash which we didn’t have sufficient of at the end of June to carry on the cheap skate original plan and needed to do it right.
"Awaiting ordered Drill pipe for WR38"
Seen this mentioned a couple of times by yourself, cant remember having seen this RNSed ...was it mentioned in an interview?
can you give your source of info, please.