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Maladoni - I am with you in not looking to average down - I added some at just over 5p and that is my final top up. If I was looking to average down to a decent degree I would have to buy so many shares it would leave me w--a--a--y--y over exposed. As it stands I have a large holding here and will just sit it out - never been looking for a "quick buck" and just as well given the SP.
GLE and have a good day - now get out there and vote.
I'm getting a big fat commission on the 20th. I'd love the chance to average down but to be honest I'd be happier if we get a nice RNS on Monday that puts everybody at ease and I miss out (I'd still be winning). Stay positive, they can't feed on that.
We will be selling our gas to Bago for use in country but once it's sold I couldn't care less if Bago want to export it.
The tweets about Georgia are just general, showing positivity about the country and the investment. We know block are not pumping gas into the new pipeline. Relax all of you, this is an investment not a quick trade for me. Some of you seem to be eager to trade or sell. I'm massively down but once the oil and gas is flowing and being sold and we prove up a massive resource then things will change . I want good news as much as the next but just hold on and wait. :-)
I don't personally think they have to announce things such as one off oil sales, it's not make or break data.
They tweet in general about the political / industry landscape in Georgia, in a positive fashion. Its savvy when there's additional licences to be had in the future. There's absolutely no comment suggesting they benefit from this one way.
This is testing the patience of Job.
Never have I had this poor feedback from a company I've invested in and I've been around shares a long time.
When even speculative punts have dried up you begin to wonder what is really happening here.
My issue is the fact that they held back information previously and this leaves a bitter taste going forward.
I hope for all investors sake that the next news is positive but the longer there is no real trading here doesn't augur well imo.
GLE
The well costs involve a lot more than the rig rental - there’s the mud,tubulars, testing kit, logging runs, oil storage, not to mention the schlum or whom ever wire line and logging guys who are presumably on contract during the drilling to make sense of the data. It’s one thing reading the manual but understanding it is something else. Over runs on operations always mean burning $$$ that’s why we need to know what they are doing.
This has to my worst ever investment decision in 11 years of doing shares . I will give this the dog share of 2019 award.
AJamesW still ramping away, strong buy, said a good while back this is heading south, just not sure how far south yet, all them shorters will be getting there Christmas cash out now, strong buy my arse, this could be 2p by Christmas, I’m sure there be a few unhappy holders here, come the festive season.
I remember finally meeting a client after some time (all dialogue was done via telephone) and I registered a frown that crossing his brow. In turn I raised my eyebrows questionably and he said "you paint a picture of the person at the other end of the phone. You're not a fat cigar smoking b*****d at all Mal".
Will, does the orange wig itch, how do you drive to work in those floppy shoes, and do you begrudge the seals stealing your limelight?
Nexr rns...14th March 2020....but wil be good.....who kmows..??
Quercusrobor - (hard one that for a dyslexic).
If you read the 16 ops update.
"The relative mix of oil, water and lost drilling fluid produced since production resumed in July has varied significantly, delaying the establishment of a stable production rate and Block's ability to announce associated market updates."
"The well continues to flow strongly, producing a combination of oil, water and gas. From 17 to 23 September production averaged 230 bbls/d of fluid at a choked-back rate comprising an average watercut of 78% (51 bopd) and a gas rate of 130 mcf/d (22 boepd)".
Date of the RNS was 25.09.19.
I therefore think that as soon as they have proven rates that have been signed off then the RNS will follow, time of year is irrelevant.
Does anyone feel that with Christmas being just around the corner....that were news to be released prior to the holiday...it is more likely to be favourable than otherwise....or that this is irrelevant.
Absolutely there will be a new process in place. There's no chance there will be a repeat of the Cheshire Cat interviews and ceilings subsequently falling in. We'll get solid facts and be able to review our investment based on those facts.
Hi Bungle - perhaps the Investor Relations team are telling Block to keep quite this time until the news is 100% solid??
Those that are in the know are not selling that’s good enough for me, I still have a gut feeling about this one. I’ve just been topping up at these levels.
Further drops are inevitable today....sub 4p by end of year
Fair doos about the previous lack of information, but since then there have been many board changes and a lot more clarity in the RNS that have been produced. So now on this BB about half are moaning that there are no updates and half are prepared to a well informed update. I know which half I'm in. PH made a mistake but you tell me which boss in any industry hasn't - just get over it and look forward to good news - I hope
Sievco well said . the CEO obviously doesni give a t---ss about PI's and even the ii's they got mugged off just like us so obvious it was stage act back in the spring to raise the 12 million . Bet they were never told about the mechanical failure during the drill they were misled like all of us.
Would be nice if some of the posts on here were being written by grown ups.................
The increasing levels of alarm and scepticism on here are totally understandable. "The coming weeks" does not imho on any normal reading imply six weeks of silence.
I don't think anyone is suggesting a duster, but the longer this goes on the more you fear a poor flow rate. The company spent months this year not revealing the problems at 16az. The cement failure was not rns'd for months after it happened. In between times, on 26/7 we were told the water cut was considered mainly to be returned drilling fluid. Then Chris Brown mentioned in a Proactive interview in August that there was a bit of formation water. We were only told about the cement issue more than a month after his comments.
The track record on being up front and quick to reveal disappointing news has imho been frankly awful.
When promised news doesn't materialise within a period most people would understand as "the coming weeks" against the above background, then investors are entitled to be irritated. BLOE ought to pull the finger out imho and communicate better with investors. It's a question of trust at the moment and after a couple of much improved rns's in Sept / Oct which I thought augured really well that lessons had been learned, the risk is that unexpectedly long periods of silence erode that trust.
I very much hope that a grown up person at Block HQ is reading the input from here.....
The way I see it :
* IF , 38 were a total disaster they would have been required to RNS by now .
* IF , they were still testing , it would be perfectly reasonable (sensible) for them to wait until tests were complete .
* IF , there had been some improvement with 16 they would be required to RNS .
* if , 3D had been completed they would have been required to RNS .
* IF , and when they sell the oil in storage , they will be required to RNS .
* IF , there had been a material change in their finances / operations plan they would have been required to RNS .
* IF , there were preliminary ongoing talks about an acquisition , contract or T/O they may be bound by confidentiality agreements .
Of course all the above may be ongoing and /or incomplete , in which case they would not necessarily be required to update the market until they have been completed .
This is a very painful time for shareholders , but after the 16 fiasco I fully understand just why the BoD are staying tight lipped until they can report with competence and total honesty , hopefully with some seriously positive news . Another PR charade like 16 would be nothing short of disastrous .
I`m as frustrated as others , but remain very positive about the final outcome because there is so much more to come ;
AND :
AF, JF , BAGO , 3D and their drilling program next year could see a dramatic turn in fortunes .
GL.
PH 1 ....................."Pretty Hirsute" springs to mind, the cheeky monkey.
May have more than one car, lookout for PH 16 AZ