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oh..........! fair enough Angelis......
FWIW...... I know rxdav from another stock.........!
All the best (.......and he ain't scum.......... :()
Can't see any reason it won't TBH rxdav.......!
oil/gas prices rising still, we got more to sell, and more coming.........!
how far off nearly is nearly.........?
" Nearly $500,000 additional cash revenue per month, based on current production rates and sales prices"
All the best (looking good bud........! :()
Angelis.........!
chill our hun....... I'm still me ......:) I promise......
All the best (re-read the quote from MMR Vox titled thread, tell me what you fink....... :)
Chesh: There was only one way to go from where we were - I just hope the momentum is maintained.
Well boys and girls - you judge for yourselves - would you say Angelis is simply asking for trouble? Seems he's so gormless he can't even figure out how to filter me? Must be lunchtime at school - he'll be back in lessons soon.
Agreed rxdav...... :)
also, I thought after posting, that if any luck was involved, it will also help focus the next fully funded side track well.......! thoughts.......?
All the best (anyway, happy that you seem a little bit more positive...... :)
Hi Chesh: I'd really like to think that luck, as opposed to skill and experience, was very much the the junior partner here! However, small steps - but finally in the correct direction eh!?
Hey rxdav........ morning, just, right back atcha........ :)
From MMR's VOX titled post
"The top of the reservoir was encountered shallower than prognosed, resulting in a significant increase in estimated reservoir volume, which is expected to enhance resource and reserves volumes."
Does this mean we threw the dart, missed the bullseye, but got more than we expected......?
All the best (if so...... hope we're as lucky on the next x11....... :()
Correction: 'on the Russian border'.
Good morning everyone - looking forward to another gripping day here at the BLOE rampathon. If (and it is an 'if'), flow rates are maintained at the levels promulgated in yesterday's RNS then it should (could?) constitute a long overdue reversal of BLOE's fortunes. I would agree with figures from a previous poster that they can likely fund a further two side-tracks at this time - any further interventions would need to funded by a further fund raise and/or borrowing and/or sales (all three now being possibilities). Whichever way this goes one this is certain - none of it will happen quickly. Consequently, the much hoped for rise in SP, foreshadowed I suggest by yesterday's disappointing rise followed by today's small fall (and taking into account yesterday was dire across the spectrum), is likely to be a very gradual affair. It will take more than one dart in the board to convince many - the market has a long memory. Furthermore, the current geo-political situation cannot be helpful for conducting business in a country of the Russian border - but that is what it is. However, at least this is a positive momentum - and it has not been the usual PH shambles. So credit where it's due - I just hope they can continue to build on this first much belated success.
We know they are going back to BA now to do another sidetrack funded from production. They seem confident in raising production there, another 200-300bopd would be a fantastic outcome which would add a further approx $400-500k a month revenues then we can be sure that all further 11 sidetracks will be self funding hopefully adding more revenue and therefore more cash to reinvest in the growth. You need money to make money and thanks to yesterday's RNS we are off and running. I firmly believe we have a good, professional and very knowledgeable team in Andrew Moncur, Paul Jeff's and Stephen James. I urge new investors to watch their recent videos on YouTube explaining the geology and the techniques they are using to unlock it. We await news on gas connection from JKT this week or early next and then the return to WR BA. At long last the future of Block energy has turned a positive corner and I'm sure this year will reward us as the story unfolds. Just wait for the excitement when we re enter Patty well and go after hundreds of BCF's of gas. Onwards and upwards!!
Recent tweet........
https://twitter.com/BlockEnergyplc/status/1485913947018563590
“…The success of this well represents a milestone, with #BLOE becoming cashflow positive…On the back of the success of JKT-01Z, the team are evaluating twelve further sidetrack candidates…”
All the best (news came as markets as a whole were down yesterday........ :(
Bloe will update the market soon as Flow rates improve and gas production increases above the rates announced in Mondays RNS. Now we have cracked the Geology then there’s no stopping Bloe.
I think it’s pretty safe to assume there will be a re rate of this share pretty soon. It’s a great relief to many LTH’s who have kept the faith in this company.
GLA
Good morning everyone, all very positive today and so it should be with the cracking RNS yesterday. Hopefully this will carry on increasing the share price up until huge profits are announced, then a major rerate. Oil and Gas prices are not set to fall anytime soon, they will remain on the higher side for the foreseeable future, so all to play for.
Looking at the numbers here we are about to see company announce profit in current year.
Self funding the new wells!!
Extraction costs are really cheap in this region!
Production increasing!
No debt!
And low mcap!
All this adding to a decent RERATE here and which is to reach pre WR B1 results!!
Hold for gold and dyor.
Thordon
Does that include any deductions for the governments share as per the agreement?
Had to check as not known to ramp - excited but rather know the facts thanks for clarity
just to add regarding figures
We have around are grossing between $13 million to Max $14.5 Million with the new well , going by accounts we are at lower end in gross profit of $4 million.
Pre-tax will be nearly the same due to tax losses in past , however the funds will be used in further drills.
We have funds for two side track drills but not for new drills on this basic summary.
Thordon - Sorry mate - Wires Crossed - I thought you had added a nought on to my annual revenue figure - something totally diffferent.
Maqsood7 / Angelis
Extract from Q4 RNS:
"During Q4, gross production (including the state of Georgia's share) was 34.6 Mboe comprising 24.9 Mbbls of oil and 9.7 Mboe of gas."
Note - "including the state of Georgia's share" - Block Energy DO NOT get paid for all the oil they produce - I have had that confirmed in an e mail from the CFO.
Block said in todays RNS that the revenue from JKT-01Z will produce just under $500,000 per month at todays prices which makes just under $6M pa.
If you then pro rata in the Q4 production figures at todays prices that makes approx $13M pa.
Hepseal this is my understanding , if incorrect then was not intended
https://www.lse.co.uk/rns/BLOE/major-acqn-of-2-adjacent-blocks-from-schlumberger-a1ubuuzw7d0s5f0.html
Note in RNS
· SRCL has a cost recovery pool of around US$133 million on Block XIB.
As now part of Block Energy is now accounted for ?
276+241=517 times 80 times 360 days=14,889,600!!
Plus gas!!!
Made it simple for you hepseal……
Hello hepseal.
276bopd from 4th quarter and 241 from JKT gives a total of 517bopd.
And oil at usd 80 which is giving 14 plus millions of revenue from oil and also count oil which will be at new prices from January.
Of course these figures are in usd and in GBP it will be around 10plus mil for oil and then gas!!
Ps. Hepseal, i know you are part of the de-ramping crew.
Hepseal, i want you to list them all. Then tell us how much Georgia will get. You like doing that when it suits you it seems.
Hi Thordon - Yep. its on those lines but Angelis, you do not need it, just study the oil / gas / production / revenue figures in todays RNS and pro rata in the production figures from the Q4 operations update RNS and you should come up with a similar figure.
Thordon - you doing a bit of ramping mate, $130M ???? Ha, Ha.