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can’t read it as I don’t subscribe..........ditto..
seems like yet another Joe Know it all...with a very(to say the least) average track record...see for yourself...
I see the late shift were on last night - badgers with nothing better to do on a Friday night, sad really!
Also see a share profits article on bloe is our, can’t read it as I don’t subscribe. Anyone able to reveal the just of it?
The only one of the bashers not on here is Bent Peter, and he will be along shortly to continue with driving the share down,
as happens with most small cap tradable shares during news gap weeks and months. Block will answer the four of then with the drill and possitive news on production into store.
The last time we had a session like the last two weeks the key bashing player(s) missed the boat @ Apr 23 @ 9.15 during the flow rate results wait, It then rose to 17P on by May 2nd. Which is why their buyin target price was being touted as 9p.
This bash will continue untill we get news, and or they miss the boat again.
Bye the way Fast, who I am in real life is my affair.
Time as always will tell, however PH was in Georgia last week so I’d expect something from him next week, not saying it’ll be flow rates or ops update but I’m sure it will be something. If you really wanted to drive the SP a tranche of news over several RNSs would certainly do that especially if was released in an orchestrated fashion.
The SP hasn’t delivered but that’s due to suicide cases like Mike31 and other wrist slashers who’ve been rinsed out elsewhere having no faith and not looking at a companies or countries full potential, they sit on the sidelines, talking it down off the back of little research whilst they ‘wait’. The SP has however held around the placing price with a slight dip below, that however happened down at the 3p levels when those that knew a little about the country and it’s potential assets bought in.
Mike31 was however still hung up on his horrific FRR, losses that many of us stand to lose with FRR, he lost sight of the country as he was blinded by the company (FRR). Another company that was distressed to say the least, BLOE are different, cash in bank, rig on lease, cracking first drill and imminent spud of a ‘mirror’ well.
All to play for.
Give it rest guys, is agony aunt week.
I would agree with that SEA7. No one is expecting a placing, no chance at this stage. I’ll be mildly annoyed if there is no news again on Monday with the full ops. After all Paul said in two weeks in that interview. In fact he originally hesitated on that question in the interview and I thought it might be earlier. It never came though. If I don’t see it on Monday I will have no reason to believe a word he says ever again.
no - I do not think there will be any further placing here - not yet anyhow. I made that point, as seeing the ceo's out on the road, always has a reason. If the stock was doing fine, business as usual, nothing much to say, things ticking over, you probably wouldn't hear from them.
Personally, I think that the market may see the ops update/flow rates on monday morning, with a spud date for 38 in it.
If Paul has been out on the asset hunt, then he may hint at it in the update. By rights he should let the market know, if he is in discussion over an asset, even if he doesn't name it, to avoid competitors finding out.
I did think about buying today, just to have a position for monday, however, I did not in the end. We shall see, as you say.
Thanks Sea7, I never thought someone would agree with me on this one.
Although Im not suggesting a placing is coming. I too, for one moment, thought about it after the last video. Its just one of those reflex response
Guess we just have to wait and see, but my gut feeling tells me we will get an unexpected rns before we get the operation rns / flow rate results
I quite often find that CEO's get out on the roadshow, do the rounds of the usual sites - proactive, directors talk, etc just before the begging bowl comes out for an equity raise.
I do still watch them as it is good to hear the person actually talk it, as you can sometimes glean sentiment towards aspects of the company, by how animated they are over certain parts or not as the case may be.
Same as Rns's - you can tell what they like the most, by the way they are written. They know most investors won't want to read a long rns, so any ops update will have the bits they want you to read at the beginning. Ever noticed how the main event in the CEO's eyes is always at the start, front and centre and lengthy then all the stuff they aren't to bothered about, or don't want you focusing on is further down and usually very brief footnotes.
eg - bloe rns 8th july proudly announces the drilling/workover equipment for workover programme - all those highlights telling you how great it is.
Just go further down and you see this....
GOG has an option to call back the ZJ40 rig from six months after the Commencement Date, by giving at least three months' notice to the Company, in order to drill one well in one of its own licence areas. The drilling of this well is currently scheduled for September 2020 and estimated to take approximately 60 days.
block says it has exclusive use of this rig, well not quite, there is a call back option on it, which could be brought forward if they so wish it and block have to hand the rig back having been given three months notice for a 60 day job.
Sea7 I agree fully. In the past, I used to watch video interviews and use them as my guidance.
Its actually a pretty bad idea, most of the time you buy or add after a convincing video, then the sp drops or some bad sh 8t follow
videos are just sales pitches in my view. Bit like investor evenings. CEO's are salesmen by nature. No self respecting ceo is not going to talk up his own book. They are designed to wet the appetite of existing holders and reach out to new ones, nothing more.
Common sense: the more video presentation that Paul Hayward guy is releasing, the more I like to think opposite.
If all was well and news ready, why not just slap the details down on an rns. Its because what he tells its not the truth, and he is using a stalling tactic until either problem fixed / or more time needed to get the results
Obviously, he cannot say that in the video because it wont be too convincing if he cannot give any sort of time frame
The trust in PH by the market has taken a knock as well. He did not bother telling the market that production at 16az had stopped. It was only noticed by its absence in the presentation etc. Then he mentions that production will restart in approximately seven days, that was 18 days ago.
Yes I fully understand they needed to re-think their strategy in light of the success at 16az, however, the open honesty that Paul had with the market, has given way to structured and carefully considered wording of communications, which do contain all the facts, even if the only ones highlighted are the ones they want you to see.
another example is the recent rns regarding 100% at west rustavi. The rns states 100% of the contractor share of revenue. This is not all the revenue from the 700bopd, when it restarts. The contractor share is 50% of the revenue, after capital costs recovered from the first 50% of the revenue. Once all capex is recoverd, the contractor share is 40% of the profit oil only. The government gets the other 60%.
The market thought the company was pumping 760bopd from all three fields and generating good profits. It was in fact only producing the 60bopd from two fields, after WR was shut off and the company went back to its loss making status. This fact was not made public. It still, as far as we know isn't producing from WR16AZ. They are breakeven at 100bopd - so they are using some of that cash raised to keep the lights on at the moment, as they are only producing 60bopd.
They need 16az back online and spud on 38.
No you don’t, you’re just saying that to make yourself feel big and clever. But if it is true statement, you probably also enjoy hearing about suffering in the world. Member since July, and you say you have put it all in BLOE having moved money from to two crap shares in the first place. You are better invested hear but only interested in the ramps. I’d normally say good luck but you sound a bit simple with you retaliatory vocabulary. I’ll give you a thumbs up to make you feel better.
Fastcash, I'm an evil barsteward and take enjoyment in seeing the doom merchants on this board squealing like stuck pigs when the price goes down.
It's not that I enjoy seeing my investment decline but their pain softens the blow.
AJW - 5 suckers agree with you. And you are saying it’s a brilliant bash. How do you come to that conclusion. I have an account which is 10 years old, none it shows any blatant ramping or deramping . I have a twitter account which is 6 years old with a number genuine followers. You now attack me just for saying I am frustrated with BLOE and expect some rise in the SP. what is the problem with that?. It was going well up until the fund raising and now it is not. I have a short, medium and long term position in BLOE. Very small trade account on IG, largish ISA account for medium and SIPPS for long term in HL. I can take screen shots to prove this holding. I don’t want anymore but I can’t prove that. There’s only one other person on twitter that I discuss buying shares with but ultimately we do our own thing. Now tell me AJW, if I look at your history how many gremlins will I find? Now I found your posts insightful yet you don’t want to hear genuine concerns from others unless they are positive and full of ramps. That’s not helpful, it’s risking other less experienced investors capital - I doubt that concerns you though. Are you AKW on twitter by any chance?
Strongly agree with you, AJW
I do not think anyone doubts the ability of the company and its norio/satskheni/west rustavi strategies.
The share price in my view, would have been easily holding the 10p -11p level, with no fund raise and 700bopd from 16az.
With the fund raise, as I had hoped they would do, to capitalise the balance sheet further in preparation for the next stages,
the share price held well, as a post equity raise opening price of 12.2p was in line with the amount raised.
The one aspect that the market isn't keen on and is marking it down for, is this statement in the fund raise rns....
The funds raised also give us the freedom to explore fresh opportunities: we are a young, ambitious company keen to apply the low cost, innovative drilling technologies we have deployed in Georgia to new ventures in the region and beyond.
This creates an impression of an overly eager desire to empire build and get to far ahead of themselves. Had Paul not indicated that a chunk of this cash is likely to be spent on acquiring something, which will obviously need money spent on it and creates an uncertainty over what any expenditure may look like, the share price would probably have moved back towards 15p on the expectation of an imminent drill at wr38, with cash allocated to norio, satskheni, on seismic and then keeping a reserve of cash to ensure that they can cover the bills in the event of any issues.
PH really should focus on the three assets they have and reach a point where they are playing from a real position of strength, not risking overplaying their hand, so early on.
You know Fast this has been a brilliant Bash, by my calcs say there are four of you who want a buy in at around 9 to 10P. Coupled with you have hindsight with 20/20 vision in the dark!
The original prediction was 325 BoD per well for WR. They did not expect Gas in such quantities or at such pressures, they expected that in the lower drills to 4000M, given that the structure of the field and the well database has shown that the drills which found GAS drilled though the fault zone or very close to them.
The other point is they hoped the horizontal drills would replicate in WR as it has in other Eocene plays which it did in spades and produced the unexpected Gas in volumes once the correct Choke is found may approach 29,000 CM3/Day
So I call Bovine Excreta on your last conspiracy post. If you want shares, pay for them like everyone else at the going rate.
17.31 ~~~ Why post your `Moans and groans` on here ?
Nobody is interested in your personal problems . Nobody here is going to help you .
Perhaps you were just not aware of that .
Maybe they ballsed up while down sizing that choke hole, so unable to progress onto the flow test
Friday jokes... Have a few pints and relax guys, what will happen, happen
Nico - I assume you mean me being all doom and gloom. 3 months of the price going down yet you like to see that. And yes the traffic and weather is atrocious today. I can prove I am invested here, why would I want the price to go down. I don’t plan on buying more and I am ****ed off with all the ramping week in week off. There better be news next week or I’ll be back for some more moans and groans.
I am very confident that no news is good news.....stands to reason that if there had been any material change to anything that had previously been put into the public domain....then the market would similarly have had to have been notified.
hve a gd w/e.
Gizzard, I’m not expecting a few days for a return in my investment. I’ve not said that at all. But this is almost 3 months of a downtrend in the share price. I feel sorry for those that were deceived and bought in near end of April. That’s a long wait for them to hope that the sp turns around or is is just tough? I have a good moral standing though.
Now playing devils advocate.......you say the strategy changed for BLOE ever since that bumper 1100 bopd report on 1st April (and what a day to choose to deliver that news)? BLOE said a number of times that they like to underpromise and over deliver. So that original 325 bopd was just fiction - they knew they would massively exceed the target. That would lead to lots of interest from the best ever well in over 20 million years. Lots of investors buy in, allowing a nice meaty placing to happen and secure long term future. Great strategy but possibly the real strategy hidden behind a pretend one. I mean what a story or are we actually all just gullible! Throw in some young inspiring CEO, a bit wet behind the ears to make it even more believable to the public. Just a conspiracy theory of course. ;-)