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Think we just wait for the figures , have to side that's its a average across the oil field , which is not that bad as we are 5% from Break even.
To ramp up the figures makes the break even worse , good debate.
So a negative becomes a positive
I see we have 2 Eeyores now. Things are looking up.
555 boepd quoted average for March must include the XIb production and the gas production which is clearly dropping rapidly. So what’s the average for this month going to be? 300 to 400 bopd maybe ..
Sea7 - so to summarise: -
February - March average was 573 boed
March average was 555 boed
q1 update states...very first paragraph under the title.. Q1 operational update
Block is currently producing at a production rate across all the Company's licences (excluding WR-16aZ well, which is undergoing intervention) of 555 boepd (30-day average).
Ah I see, that’s my misunderstanding.
Sorry AJW, I’ll have to side with Hepseal on this. I think the 573 figure is from all fields save for wr16. Otherwise they would have given the production figures for those smaller wells too. Just my opinion, could be wrong though. In any case, the company is making progress, no need to bicker!!!!
AJW - So I am a Basher now, because I was trying to get at the truth!!!
Your quote : "I would expect that will be come more clearer in May when the WR38z flow result are published in say 4 weeks."
Right AJW, here is a challenge for you, I have done a lot of research on the flow data from ALL sources, RNS,s, podcasts, reports etc, I understand the word AVERAGE (so does PH) - I predict the stabilised flow rates from WR38Z when announced will be approx 325 - 375 boed.
Go on, have a go, I dare you, lets see who is closest.
(Mal, pink, mmmm!! - for what its worth IMO, the future in this share rests with the two new drill's later in the year which could in deed transform the company but I think there could be a few bumps in the road before then)
Does having pink underpants on make me a basher?
No it does not. Aside from looking looking fetching this board is failing to deliver much these days.
Anotherlambo - No, AJW has been saying that the 573 boed is the average flow from WR38Z, whereas you and me are both saying that the 573 boed is from all of the fields save for WR16aZ.
Hepseal
Can you not read? The average production rate for February and March 2021, after WR-38Z had commenced production but excluding WR-16aZ (as the well is currently suspended), was 573 boepd.
Number of round buy lots this morning
Ah, hep, I think ur both saying the same thing just in different ways.
My reading is the 573boepd is average production from all of the fields save for wr16. The 573boepd also accounts for 95% of operating costs. So once 16 is back online our average production will be closer to 750 or more, and we will also be running a profit. Not many small caps oil/gas exploration firms can boast this.
But as always dyor
AJW - You are so wrong and all your followers are going to be very disappointed when they find out the truth at the end of the WR38 testing period.
As you say, DYOR - I have.
Important to note BOE is equivalent to energy not revenue. BOE of gas is lower revenue than oil.
AJW - Quote - "The point still remains WR38Z on its own is producing an average production rate 573 boepd."
I think you will find that 573 boed is the average production from all the fields combined, not just WR38Z. - When you factor in the production from the other fields you will also find that the production from WR38Z actually dropped from approx 500 boed at the beginning of February to approx 400 boed at the end of March.
agree madman the market cap will respond to revenue and in turn share prices will follow.
Gas and oil revenue is going to be much higher
completely agree guys F&F are not good for this company...........I hope they get bored here sell up and move on because they will only play games with us shareholders like they did with Scirocco.........on a side note they seem to target companies with good assets so I guess thats a compliment to Block..........dyor
Mcap will respond to money revenue and in turn share prices will follow.
Oil price is now high and revenue has started. If I understand correctly we are 5% away from making a profit and we have a lot of money in the bank for next spud etc. For a small Aim market oily and Gas that’s decent and along with the revenue we have 16aZ to add at a later date plus new ventures that have been stated in RNS’s.
If the company is healthy and making money along with good future prospects then we will get our return !
When that happens we can look for new songs to sing , ha ha !
Not there yet but certainly worth holding or adding .
But of course DYOR
Guy I always welcome your views. Keep up the good work !
Ps can’t let this post go with out the health warning :
F&F is not good for your health .
Surely we can't rule it out if we do reach 2000 bopd.... If Oil & Gas prices, keep rising as expected as worldwide restrictions are lifted it could be a transformational year for us.
I know there has been an increase in the share issue , but remember that when PH bragged about 1000 Boepd the share price shot up to 17p ?
2000 Boepd ~ PROVEN ! ~ surely we would need to add a 0 to the current c. 3p .
~ Just as well AJW posts here to keep our feet on the ground ;))
GLA .
We will have to have a decent rerate to Mcap at that amount!.
2000 boepd by end of year and we are laughing like dogecoin holders
Agreed V11JAS and even if 16 is a complete failure. There's enough cash for 2 drills....and we're probably breakeven given the oil price now.
21.18 : Well I hope it will be after Wednesday !
I`ve been buying more this week and intend to have another couple of bites next week at this absolutely absurd price .
What ever happens , whoever wins , no matter what the outcome (and there are many strange questions to be clarified here .)
the valuation placed on this Company is , imo , beyond stupid .
I believe that the reason we have this ridiculous valuation is in the main due appalling sentiment that has been largely decimated by operational errors , very poor PR and a complete lack of trust and respect for the CEO .
Regardless , fundamentals always win out in the end and it would seem to be almost certain that the value in the business will be recognised in the very near future ,
GLA .
Sneaky feeling we get a juicy update next week on 16