Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I think the results from WRB1 will be announced when there ready, PH cannot afford to get this wrong be that good or bad so clear comms of results will be essential. This, unfortunately, may take some time. For sure they'll be an update of sorts in the Q3 update if we have not heard anything before this time.
MP
Interim results were announced on 30/09 last year, it could be that flow rates are announced with interims. Q3 update will be a separate RNS to the interims so as you say initial flow rates could be announced then, they will still need more time till full stabilisation is achieved.
I have a feeling they will lump in the flow rates in the Q3 update. So we should have news within two weeks.
I would prefer an earlier RNS of initial flow rates with a later Q3 update confirmation that they results are still on track but hey Ho you don’t always get what you wish for.
Close period RNS examples:
For instance, the company might wait until the financial results are published before revealing the test results for a new product or plans for a new initiative to expand operations. There can be cases wherein a company must report news or statements during the close period even if it might influence share prices. Accidents and calamities that affect the company’s operations may need to be publicly acknowledged. A disaster at a company’s major production facility could not be ignored regardless of a close period. The sudden or unexpected departure of members of executive management likewise can call for public statements by the company that cannot wait.
Interesting and suggestive tweet from Block Energy...Gla holders...Bring on the flow test results...Confirmation of commercial volumes could be Transformational with oil and gas prices heading skywards!!! :-)
Block Energy Plc
@BlockEnergyplc
·
8h
Commodity Giant Trafigura Paints Bullish Outlook for Oil and Gas #BLOE
https://mobile.twitter.com/BlockEnergyplc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
https://www.bloomberg.com/news/articles/2021-09-27/commodity-giant-trafigura-paints-bullish-outlook-for-oil-and-gas
I should of said flow rates may not be broadly known outside of the technical director and board of directors.
Flow rates may not be known. Contractors would know it is flowing not the rate.
With wireline logging and modern flow meters the data is sent to cloud and only accessible by authorized people.
The extended silence does allow for slippage in WoM....too many contractors and people know the flow rates as of today, unless they keep it to a small circle. Who knows.
But you don't make a video of the testing period for nothing that's for sure
Hepseal :
It wasn`t so much the 2k ( LOL ! ) That just made me question my sanity in relation to my own holding !
it was the the ~ " Im now holding " ~ comment that I thought somewhat disturbing . ( Again. )
Avi8r :
Sadly ~ probably realistic assessment at this point in time ~ It`s all about `That Elephant ` again .
mal1brw :
SO true ~ sentiment plays a huge role in this crazy AIM market , but :
Assuming a `Baker `s Double` after the next well then we should see more of a realistic valuation .
I remain positive and hopeful , primarily because of the BH involvement and the Schlumberger `Unknown` .
This extended silence , extended share issuance and extended lack of general commentary from the BoD is certainly not supporting ordinary shareholders in the manner that ordinary shareholders have supported the BoD .
Albeit that the alternative would have been like turkeys voting for Christmas .
Let`s just hope that by Christmas Baker Hughes will have given us something to celebrate .
NAI ~~~ Just my own views ~~~ ATB .
I agree....we'll see a re-rate on decent results but nothing stratospheric because of sentiment. But I'd rather legup slowly with good fundamentals in place.
If this drill has gone well....no reason why the next Baker Hughes well won't. Also if they could hit oil 30yrs ago by guessing....surely now we should hit moderately easily. No?
Block sold at average of $66 per barrel then. A 21% increase in price (at todays rates) with predicted consolidation at this price bodes well. Cost to production for Block is circa $20 so revenue will naturally increase, although the wider market will cost more to reach.
I don't expect well test results for another week, but the current situation and market demands bode well. For me, 10p will prove a tough barrier, thats a 300% rise from todays price and gives a mkt cap of £62.6M compared to todays £15.9M. Block will need some outstanding results underpinned by excellent sentiment and confidence to achieve that. Sadly, PH has failed to inspire that.
Transformational? Maybe.
PS
After checking my notes the 30,000 barrels were actually in stock, unsold, as of the 8th July.
In addition to the above 30,000 Barrels in stock on the 8th July, Block sold 11,200 barrels for $742,000 between the 1st and 8th July and this amount will be included in the Q3 sales figures.
Just imagine what the sp on this oil producerwill be if crude oil price reaches $80 .
Maqsood - I agree with your point 2 - On the 31st Dec we had 28,000 barrels in stock, if you add Q1 and Q2 production to this and then subtract Q1 and Q2 sales I reckon we had about 30,000 barrels in stock unsold at the end of Q2.
O M G : Ha, Ha, Ha - Wish I had that many!!!!!!!!!!!!!!!!!
O M G :
~ " Im now holding after buying another £2K worth. " ~
! ! ! !
:)))) I will not change my view about him and his role in this company…
OUR CASH POSITION WILL BE BETTER THAN LAST QUARTER!! WHY??
1) oil is trading much higher than last quarter!!!
2)we are holding stock of oil from last quarter!!!(which might have been sold in current quarter)
LAUGHABLE comment of the day: lol
Cash position is most important. If it’s down it shows production is not profit making. That’s curtains.
The results from the latest well won’t be known until they have 3 months production to show a decent average.
O M G :
~ " Im now holding after buying another £2K worth. " ~
! ! ! !
Cash position is most important. If it’s down it shows production is not profit making. That’s curtains.
The results from the latest well won’t be known until they have 3 months production to show a decent average.
Let’s see
I guess all will be revealed soon AJ, both in terms of flow results & the Operations report. Which will come first?
The gas price is currently fixed for the WR oil wells but the price will likely be sold at more market comparable prices for the RUS gas wells. If shareholders are to see 7p+ this year we need WRBA to produce good amounts of oil.
MP
So anything from WR1B is a bonus!
500bopd will generate around $14milluon!! A year.
And profit could be as high as 9-10million a year!!!
Even if we don’t produce anything from WR1B,still our cash position will be stronger with whatever we are already producing!!
Last quarter oil average selling was $62 and gas was at $3.24,which will significantly change in next quarter increasing cash in bank!!
Can oil go higher? Currently $80.565 which would equate to over £5m in profit pa for Block if WRBA is successful in producing over 500 bopd. Natural gas prices are soaring and are now $6.216 which is very attractive for the RUSBA well targeting 4.4mmscf/d, surely the gas price for any production from this well would be renegotiated.
The macro economics are in our favor, the infrastructure is in place we just need to produce the stuff now.
MP
Oil has hit $80 , the highest it’s been since 2018 , this will be accounted for when the SP gets it’s re rate.