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I think after the issues with 16 Bago would delay any infrastructure installation until they was confident that the gas could be extracted commercially. Nobody would of planned for the cementing to fail thus the delay. The fact that they are sticking it in now wags my tail.
Cautious - RNS 30-Oct-19 to RNS 27-Jan-20 is three months not two weeks.
neilmac, Thankyou for a reply. My issue is PH has tried it on several times since last April, and yes I would agree timescales move this is acceptable but after 9 months of no doubt planning by Bago for it to move 2 weeks after a Rns is in my eyes very unprofessional and not of Bago’s doing
Cautious11, I worked for many of the major O&G Companies throughout my career and therefore I feel I am in a position to answer on behalf of all, Just to dampen your fire..Yes professional companies know what they are doing however only 2 projects I ever worked on where even close to being completed withing the timescale that was originally planned ( Qatargas 3&4 and BP DWG), My last project was BP Clair Ridge that was 2 years late. Yes 2 YEARS and at the same time Quad 204 ( now named Glen Lyon) also was around 2 years late, This is actually an industry norm...I hope this clears up any confusion on your part?
So basically you replied with zero evidence, as expected.
Hilarious
At least we now know that when PH says “pretty soon” it’s not to be interpreted as so, his exuberance takes over which is unfortunate when they’re are trying to build trust. Although the RNS’s have improved their wording , however PH interviews are still to be taken with a pinch of salt. Let’s now hope ‘pretty soon’ does not make a fool of him once again. Looking forward to the news whenever it arrives and hopefully market conditions improve.
Dear me. We got Bago in because they are the experts at what they do and it’s in their back yard . Not like Bloe who are supposedly learning as they go along. For Bago it’s bread and butter and to get a time scale wrong after knowing since last April what was needed to be done would take some believing. And Bloe’ track record of let’s say of being conservative with the truth I believe PH tried it on again. I take it you haven’t worked for a professional outfit in the past, they do tend to know what they are doing. And the recent interview which have normally pre arranged questions should have asked why the delay now. But surprisingly they didn’t
Cautious, again u miss the point.
You say: Bago aren’t at fault because I would say all along they knew the time scales.
Timescales move!!!!! Is this new to you? Have BAGO never embarked on a project where the timescales have moved? I listed a range of factor in my previous post as to why they may move and you reply with a childhood insult. I hope you’re being ironically foolish.
Where is your evidence that BAGO knew timescales all along and PH misled investors instead? Please only reply when you can answer the above.
Bungle 66, Coronavirus look at NCYT and BYOT. Lets hope BLOE release something good in the mean time. GLA
They have a vaccine , but its like this
Unless governments back the trial which is unlikely then it goes as a peace vaccine.
In other words the company that develops the vaccine will only be paid cost plus.
There are multiple company's acting as one trying out and have a vaccine but it takes years for the regulation period to be past as if any government excepts the vaccine without this is liable.
Its more complicated then above but just a brief outline.
It has to be a case of the end of the world , which is not
Over 1 million die through cold virus a year , this is not even touching a 1 percentage of this figure
Panic in market and at home
Makes you wonder
Hepseal ~~~ Doh ! You`re right !
I`ve ticked your post UP as a recommend ;))
GLA.
V111JAS - You Mumpet!!!! (only joking -see below)
OOOooopps ! !
I pasted up the comments below on the wrong thread !
(Although much the same applies here and I am still actively building on BLOE holding .)
Sorry about that !
Anotherknob I am tooo well aware about material and labour problems, far more than probably you are. But I also know that any true professional organisation have their finger on the button and don’t come out with a date after 8 months of discussions with a professional outfit like Bago and then change it within 2 weeks unless they have been caught out. Bago aren’t at fault because I would say all along they knew the time scales. it’s PH once again telling investors want they want to hear and not facts. Bit like some of the mumpets on here
And talking about the city, if this was as good at the moment has some would make out they would be all over it. Hang on some were and pumped in a million a piece at 11p a share.
So only £700k down then each. Don’t worry PH said they were happy
I was going to Buy a few more on Friday .
In view of the Crono virus volatility , I didn`t . I`m watching from the USA where the Loony Politicians , the Hysterical Public and the Opportunistic Stock Traders have , again , created havoc in the stock market .
A correction was widely overdue and even more widely expected . This virus has been the catalyst to create a perfect storm and we all know who the beneficiaries will be .
Nobody knows how this health issue will develop into the future and nobody knows if the current state of volativity in the markets will now subside and when a new base will be established .
The hysteria in all its forms is well overdone ~~ imo .
As is usual in these turbulent situations some people find themselves in the position of being forced sellers .
This is regrettable , particularly in the case of LEK where transformational news must be getting really close .
Unfortunately this may not be the ideal time to release good news which might be swallowed up in world events , but LEK may not have any options . (For example ; any predator would likely have a completely contrary point of view .)
I remain very positive and committed .
My finger will again be poised over the BUY button from the opening on Monday !
Some great supporting posts , which I regularly `Tick` as recommend :)
Very good luck Guys .
Cautious - If you read my earlier posts you will see that I merely responded to your question -"Are Bago on site, not a clue and no proof of it"
Nothing more, nothing less, please don't attribute statements about what I may or may not think, I am perfectly capable of doing that myself. Anyway, I will repeat my answer.
As far as I am concerned I have seen enough evidence to reasonably conclude that the construction of the BAGO infrastructure together with the EPF is all under way. If there are unavoidable delays for whatever reason we will have to live with it but all parties, Block, Bago and the Georgian authorities will all want the gas to start flowing and to be monetised at the earliest opportunity.
Extract from RNS dated 27th Jan, 2020 - "Bago has also started on the installation of the pipeline infrastructure, which it is funding, necessary to connect the EPF to Georgia's gas distribution network."
Cautious, do you work in the City at all? Just wondering because I’m finding your comments quite naive.
If you’re completely taken aback by the gas pipeline works going from Q1 to Q2, then you’re in the wrong game. The delivery of materials, time it takes to get permits and licences from government, problems with geography and terrain, local problems such as affecting existing infrastructure, additional 3D info can all affect the timelines we work to.
If it is deemed necessary, of course BAGO and bloe will move the goalposts. This is just how the business world works. Now stop complaining and try to enjoy life before the RNS makes us all rich in a few months. Toodle pip
My pint always half full not half empty , yes this company is smelling of roses as the evidence is pointing towards end game
Ajw. Your at it again. If you get 60 dollars a barrel then in the future ( notice I say in the future ) after tax and costs etc 9 dollars a barrel would be around 30% of final profit.
I notice Hepseal didn’t make an excuse up for gas offtake going from end of Q1 to end of Q2 all within 2 weeks. Probably because he knows PH came up with his deceitful statement and was told by Bago they were not happy with it and made him change it. It’s a bit like the office telling Hepseal that the gas offtake would only take 8 weeks from the contract being signed
Ok Hepseal if you say so. Let’s just trust everything they have said because upto now their track record has been flawless. Lol. And a few photos would cost thousands to produce
Cautious, if you wish to clutch at straws and be negative that is up to you. As far as I am concerned I have seen enough evidence to reasonably conclude that the construction of the BAGO infrastructure together with the EPF is all under way. If there are unavoidable delays for whatever reason we will have to live with it but all parties, Block, Bago and the Georgian authorities will all want the gas to start flowing and to be monetised at the earliest opportunity.
Hepseal I could be on site but doesn’t mean I’m doing anything. After 8 months of PH stating the Bago contract is to be signed it actually got signed stating gas offtake by Q1 and this was after months of know doubt discussions then within a couple of weeks a Rns states gas offtake goes out to Q2. Just shows you PH hasn’t got his finger on the button. What’s to say it won’t go out to Q3. Nothing. So that is why i would like visual proof that things are progressing. Surely not a lot to ask if nothing to hide
Of course thordon it’s all smelling of roses
Cautious - You asked the following question -"Are Bago on site, not a clue and no proof of it"
Extract from RNS dated 27th Jan, 2020 - "Bago has also started on the installation of the pipeline infrastructure, which it is funding, necessary to connect the EPF to Georgia's gas distribution network."
PH also stated this to be the case in the recent video.
So it is reasonable to assume that Bago have been on site for at least 5 weeks.
Plenty of photos of Block Energy , Just look
www.blockenergy.co.uk
https://twitter.com/blockenergyplc?lang=en
Blockenergy not digging trench for mains connection as being paid by Gas company
Cautious by name Cautious by nature, always playing the devil’s advocate bringing us all back down to earth. Let’s hope we can overcome the negativity when the market recovers.