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Nobody’s suggesting there is no risk - it’s o&g! But without risk there are no gains. The bigger the risk the bigger the gains, but you have to have conviction. Have a good bank holiday weekend all.
A*James, you may have got the top grades in school and know your stuff, but the actual market can be pretty volatile and unpredictable.
Anyways, its the weekends
Yes A Star James, I'm in a no rush and stress free position.
Bank holiday is coming up, I advise people to take a break from these boards
Ajames- just balanced and fair view, rather than some people who keep going on about the iis and all the rest. For all we know they could have sold out at 13p, or currently selling out which is why we are seeing all these big sells but people are just assuming it’s Miton selling. I don’t disagree about Block having potential, but people need to accept there are still significant risks here, which seems to be brushed under the carpet all the time.
AjamesW - not the iis that’s invested £12m recently though. I suspect they are under the notifiable threshold, so we will never know what they do with their shares.
I suspect the larger round sells that are keeping this down are Miton selling the remainder of their 4.7% -and that is the long and short of it. Sub 7p is a gift
I don't agree. I think it was a punt for them right up-to the point where drill tests were 3 times better than expected and they approached the market for 12 million quid and it flew in. If you want to think 12 mill arrives on a punt you are in cuckoo land chief. The punts been won, its now about how much we won and how many more times we keep winning.
Let us indulge in some" grown-up talk"...shall we? Facts: a; most of the worlds easily accessible oil fields are now gone or severely depleted, b; new technology (in the main "horizontal" drilling) will only produce, in most cases, very limited results, c; drilling for oil and gas is just that -- drilling speculative holes in the ground, d; everybody, including the BOD, experts and engineers can only hazard an opinion on the probability of finding commercially viable reserves of whatever they are drilling for, e; moving a rig 300, or even a 1000...or more, yards to the side of an existing one is not very likely, in the greater majority of attempts, to hit a rich new source of undiscovered wealth. In short: the investors, large and small, and the BOD are taking an educated punt! The long and short of it all is this: we, and everyone else, are investing money in a gamble. And it is as simple as that!!
Because I asked the company and got the response of Justin. Try it yourself and see if you get the same response.
BB- and how do you know none of the iis never sold out?
Fair enough to Mike so what you are saying is that whilst the well is ij clean up mode and an expert looking at it that could mean there is a problem that they will either try and fix or divert attention elsewhere with gas or other well news. If that's correct then you have to conclude that if and when an rns arrives confirming what the BOD have already told you that the flow rate is improving that you will have been wrong, will apologise and stop deramping as you will have been proved wrong ? I will do the same. I will predict that flow rates are on the increase, the expert is there to assist flow rates, news on spudding well2 is either concluded or imminent and gas news is imminent or already here. If I am wrong, I will sell up and leave the board. Simples. I am invested as I believe in the company. Massive news to play for here. You can also count on the placing investors knowing much more tha you or I and if bad news on drilling / flow rates / gas etc was coming down the pipe, they would be long gone and the SP would be back to 2 pence by now. As it stands, it doesn't look like any have even flinched. miton have sold out massively but they were never part of the placing and they needed the cash. Lets keep watching.
Mike- I’ve already said that 90-120 days was just a stalling tactic, but according to BB my comments were silly and stupid. There is potential here but what people fail to recongnise is there are some hurdles for Block to cross, and it can still go down the pan. If everything was a rosy as BB makes it, then this would be totally 100% risk free which would have been reflected in the SP. I would happy if 16az could get around 600 bopd a day, it will never hit the 1000 that people claim.
These guys have a serious problem with their honesty and integrity, and I would not count on what they tell us.
Don't make me repeat myself again
I have already made my points on numerous occasions. I suspect there is something wrong with well 16az and that is why they are keeing quiet and have hired an outside expert to try and resolve whatever challenge they are facing.
If this is true, I can see the 90-120 days cleaning only a stalling tactic. Imagine the company turns around and announce bad news to surprise the market. Maybe the production figure dropping off, maybe they are experiencing other technicals for them to pump the oil
The company will only do one of the two things in my opinion.
1) stall the market and try to make it work
2) shift focus elsewhere
At the moment, we just have to wsit and find out but the pieces of evident are there. Even Malcy, an expert with 30 years experience says its 'quite rightly suspicious.'
Only when the company decides to give an update via RNS, then it will all become a reality
That's great Mike but if you could answer the question that would be greatly appreciated.
Here it is again:
Tell us your viewpoint Mike, given that you are invested here, please tell me where you think this is going. Lets start from ground zero, we have no debt, money in the bank and a well producing 300 bopd in clean up mode and 3 other wells to drill and gas. Tell me what you think will happen to them. Go for it, no holds barred.
and... dodged.
How many times do I have to repeat I have sold out right before the drop from 14p.
Are some people so dim that they cannot understand? No wonder they believe in anything PH tells them.
lol...you have to laugh...
whole thing is utterly utterly....(reaching for thesaurus).........
overpaid,no mental strength,no patience etc etc......exasperating in extremis....
Will this be swerved like the apology?
Tell us your viewpoint Mike, given that you are invested here, please tell me where you think this is going. Lets start from ground zero, we have no debt, money in the bank and a well producing 300 bopd in clean up mode and 3 other wells to drill and gas. Tell me what you think will happen to them. Go for it, no holds barred.
What about Stokes shot quercusrobor? Unreal.
England
England
67 * (27.5 ov)
Englands lowest score against Australia since 1948...
Make that 67, lets not take that away from the lads.
One things for sure it won't be 66 all out ffs.
Thank you bigoffer, we have a complete opposite view. It will be interesting to see where this goes in the near future