Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Rumours are that the deal will be announced soon , as the conditions of Gas connection from Block Energy are being met.
Have a few friends who work in London and seen a interest in this stock and MMs building a holding for a buyer.
All pub talk
Three days to go for Interim Results
suspect will also get additional information as well
So you agree, they are just putting back any info they can until later.
Because.......................
As ever DYOR.
To be fair the MMs had created a 20% difference in sell and buy price , hence no volume.
And why today low volume as of yesterday
Why sell , if you really want a sell and buy then reduce the margins.
The MMs know that if they lower the price then those that had options by automated trade by a set figure kicks in.
so it means that the MMs have a order to fill.
Bedex your trying to second guess the outcome and this not known till full year results
Update rns followed by more than 4x as many posts as trades. Took the market by storm then (all 11 trades)
Only positive I can see is someones taken their nose out of the trough until the next fund raise.
Can completely understand Bago situation not to spend money on a pipeline only to find out that there was no gas in dry quantity. Bago have the evidence now and now apply for a permit , it was ten months ago that i stated that permits and permission usually take 3 months ( was ripped apart for this ). They may have sent a pending application and now have activated the permit which would now take weeks as already been semi approved.
AJW - if you are correct then surely one of the first things they would have done would be to apply for a permit when the works supposedly started in January well before the lockdown - so something does not add up here .
We're only 3 hot vegan rolls away from a revolution!
Greggs ? The newcastle factory has stopped production due to covid infection.
Pretty good rbs today. Nice to have a decent update.
Despite all the COVID restrictions we have made good headway into the monetisation of the gas which is due to be complete Q4.
Re the BAGO work, it clearly says in the RNS that the completion of the permitting process is in the final stages. In any case, has will be ready to be sold within three months.
Roll on Q4! Wish they said more about the Schlumberger areas but we should be hearing about that soon too!
Hi Heps
"Bago has also started on the installation of the pipeline infrastructure, which it is funding, necessary to connect the EPF to Georgia's gas distribution network.".
Been to Greggs already so I'll pass for the now.
Hi Mal - did they actually say they HAD started the works or did they IMPLY they had started the works??
Anyway how you doing - think I fancy a donut!!
RNS released in Jan 20 said they'd already started the works. Clear as mud.
All very interesting but below is an extract from a question and answer email from Block Energy to myself in August, 2019
"Thanks for your enquiry. Please see our answers below:
'The RNS of the 17th April states that the “Associated Gas Production from 16az will be sold to BAGO” – Is this still correct?'
Yes.
'It is also stated that BAGO will start purchasing gas within 8 weeks of signing contracts – Is this imminent?'
Yes. Bago gave us the estimate for eight weeks and all is on track. All of the critical elements of the contract have been agreed."
The contract was signed in October, 2019
Wasn't that the point of the test, to prove it was commercial and worth hooking up?
Maybe its just me.... but....
I'm somewhat taken back by the statement that Bago haven't even started construction of their Gas Pipeline; and a re still seeking to gain permission. What exactly is going on there? I had the 'impression' that all was well and that they were in fact to commence construction?
Or have I completely miread previous RNSs, news etc?
block is holding up well in the market so far.
I note that on a different site, I saw a list of stocks hitting a 52 week low. A few weeks back that list had 5 stocks on it. Today it has 47 stocks on it.
I know AJ but it shows what is coming in the next 12 months. I believe SOU got to a £1billion market cap without selling a drop of gas! At least we are making huge strides in monetising our gas.
www.proactiveinvestors.co.uk/companies/news/929873/block-energy-plc-counts-down-to-first-gas-sales-from-west-rustavi-929873.html
Block Energy counts down to first gas sales from West Rustavi
researchtree
from a poster on another site....i do not have access, so a straight copy from that poster.
hTTps://*********************/companies/uk/block-energy-plc/research/sp-angel/oil-gas-daily-flow/32ae463b-05e0-436c-9a49-269cd3748b56
"Our take: Another strong update from Block today highlighting its admirable operational progress against unprecedented global events restricting human capital and weighing on commodity pricing. The Company will now embark on a step change in cash flows resulting from the WR-16aZ well, with considerable untapped development upside potential. In addition, the acquisition of SRCL will further consolidate Block’s position onshore Georgia, adding another large mature discovered hydrocarbon province to the Company’s enviable portfolio in our view."
Let's get patty well and 200bcf connected up soon baby!!!!! One step at a time. Interesting to see who they choose to replace Roger. Onwards and upwards at team BLOE!
For sure Hawks that would be sensible and reassuring. Lets see what transpires.
From the wording of the RNS there does seem to be some low lying fruit that can be monetised in the short to medium term from the acquisition. I feel its important we have a few wins on the bounce to install confidence and potential doors to finance which will be needed for the big pay back drills, which is why a lot of us are still here.
Yes the spread is annoying but I guess once the gas and oil is flowing even 3p will seem cheap