Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Just thinking out loud but looking at the most pessimistic valuation for our CCS and forgetting totally the wider basin and just focusing on the 256 million tonnes at say £1 per ton profit and we have £256 million £2 per tonne profit and we are over £500m??? Yet we are still valued at £11m. Once some clearer news comes through we must be due an absolutely massive rerate!!
Have a read back through comments , been answered many times , news could drop soon as tomorrow…. PH said should take roughly 3-6 months to get a jv … that’s just p3 …. Then there is CCS which has potential to make p3 1.67bn look like pocket money , if they get sold (I would most likely vote against unless it starts with a £ sign) odds are you would get blocked from buying whilst current holders vote
Hi all, currently on the sidelines here but can someone give me a rough timescale of when and what news is due? And peoples thoughts on the price when news drops. Apologies newbie and looking for information.
Professor Eric Oelkers makes the point that BLOE can also cover their own CO2 production as well as serving industries such as cement and fertiliser. Apart from the cash generative opportunities this should also take us off the naughty step for funds claiming to have ESG commitments. Interesting times.
Hi Grower - In answer to your question you need customers who have the ability to convey the carbon to the facility in a cost efficient manner, the most efficient method is by a pipeline. Block have suggested that the CCS facility could support a major net zero industrial hub and steel and cement production has also been mentioned. This may have already been discussed with the authorities in Georgia and I would assume such a hub would need to be in the general Project 3 area so that a localized pipeline infrastructure could be built. We do not know how much of the CCS capacity would actually be utilized by such a hub.
Https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/energy-transition/041123-bp-acquires-40-stake-in-harbour-energys-north-sea-viking-ccs-project
So BP are interested in CCS too! Don't they majority own the oil and gas pipelines through our acreage in Georgia ;-)
Here’s a thought … and surprised no one has picked up on this …. CCS (9bn value) is surely risk free within reason compared to drilling for gas and oil because we aren’t trying to find pockets of oil or gas .. we are injecting a known amount into the ground , job done …. Or am I missing something
From 4th march RNS!
"The recently announced commercial Carbon Capture Storage (CCS) opportunity also highlights the Project's sustainability credentials. Further work is being undertaken on the CCS opportunity and announced in due course".
So news is due anytime on the CCS.
Don’t forget our way more impressive CCS …. All the large companies are going to need that to be carbon zero ….. it’s not a case of hearing the penny drop now …. More like a gold bullion bar
Https://agenda.ge/en/news/2024/38776
Come on PH! Georgia need our gas.
MgBRG96 =CP
Clue "aggresive bonfire in Cardiff"
Wise not to run too soon.
Despite my optimism MCap is just 10M and despite the 50% rise of recent days we've hardly started to claw back losses.
So personally I'm pleased to read cautious debate being created.
Once we get positive news we maybe in a position to play with figures.
It's tempting and I'm guilty but I know I must catch meself on!
Ktf and gla.
Certainly it's potentially huge but all I know is that, as reported, we have storage capacity estimated at 256 million metric tonnes. I have no idea how much we'll have to share with a partner or how much the government will take or what the CCS rates to third parties will look like when we're eventually in a position to market our capacity. Like I said I'm full of optimism but just feel predictions are running ever faster ahead of facts at the minute. GLA!
Thanks for taking the time to reply Shed, I've posted as I see this and the numbers for CCS at $3 dollars a ton I feel are realistic and achievable. What value do you put to it?
Thanks for raising your points as a potential debate because kicking this around can only be good.
Evening Mg - I'm not deliberately being the in-house curmudgeon for the day but just a couple of points. PII as an example can hardly be described as 'high impact' as despite numerous false dawns it's never happened. Also calculations on the net worth of the CCS project are entirely theoretical because we can't independently finance it. Cash is king and assuming we can attract a partner they will want a huge slice of the action. Having said that I'm invested and feeling upbeat but I do feel ,with respect to some enthusiastic posters that expectations are starting to get unrealistic.
I thought I’d drop some of my research notes, Block have significant acreage in Georgia onshore and has four high impact projects running virtually concurrently. The main project is Project 3 however an overview of the four projects are summarised in the March presentation
https://www.blockenergy.co.uk/wp-content/uploads/2024/03/corporate_presentation_2024.pdf
And
https://www.blockenergy.co.uk/wp-content/uploads/2023/12/black_sea_dec_2023.pdf
A recent addition is Blocks Carbon Capture and storage which is in addition to the other four projects. The numbers on this alone for a minimal net profit of $3 per tonnes have the sp based on their lowball project is 84pence a share.
There’s an interesting video here
https://vimeo.com/748840353
With a more in depth presentation here.
https://www.blockenergy.co.uk/wp-content/uploads/2024/01/co2_storage_and_low_carbon_gas_opportunities_georgia_dec_23.pdf
I'd agree true value for us as shareholders in this whole process is to be a partner with a farm in company that takes control on a farm in and we sit and take profit.
Either way if there was a vote I doubt we would have much of a say looking at the significant shareholder list.
Agreed , hold for the much larger rewards
Yep, and well said Shedulike..........! :)
we can only guess at the negociations that are on going for the farmout/JV of proj III , and CCS will add value to 'em FOSHO.........! :()
All the best (I'm not for a complete buy out of the co. either........! :()
now is the time...
I'd say get on to Richi S and tell him you can pay off the national debt .... j..... where do these questions come from...GL...
Very true , personally.. I would prefer jv over a buy out
Block have stated that they are looking for a farm-in partner to help them initially with appraisal wells on PIII, whether the intention would be for the same partner to have the clout to help develop the CCS as well I don't know. What I would say is that we have absolutely no evidence that anyone is looking to completely buyout BLOE or that they even want to be bought out.
As it’s a plc, all shareholders would vote to either accept or reject an offer , so depends what offer we get , I would certainly reject any daft offer
Yeah ..... I thought it would have to be a smaller chunk sell.
So with this firm....I've never been in a buy out position.....if a buy out occurred, are your shares auto sold at the price set by the buy out agreement?
I would sell out in small chunks over a period of time … get a better rate that way. Unless they get bought out , then it’s one rate for the lot