The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
4p and I'm out like a scalded cat. BLOE will never thrive when you've got a clown like PH at the helm - bloody useless (check SP for confirmation - and look at SP retrospectively for a couple of years too).
OK ...so there's not much love out there from this board for PH .... how about we get a very positive RNS in the coming days ... will all posters suddenly change their attitude and say what a great guy ...and the share starts moving up towards 4p for starters ... ???
Madmanrob AIM rule 26 has that covered executives have to be re-elected. When the notice is issued you just need to know which resolution to vote against and then email your broker they will send your instructions.
Once again Scrodingerscat I agree with you, in particular the need for a Technical person at the helm.
At the very least why do we not have a Technical Director??
There has been a large number of different Technical people that appear to have come and gone over the last three years but having looked at various names on linkedin some of these appear to be Self Employed Consultants with other interests rather than direct employees.
Pleasing to see a consensus slowly forming that PH is the problem here (and has been for a long time IMO). I too will be voting against his re-election.
Totally agree and nicely summed up Scrodingercat .
My last post simply said " Groundhog Day " as each day is identical to the last. This is due to the total absence of any comments or communication from PH .
Each month we see delution with extra shares being issue.
If there is a delay in getting an item or two for the next sidectrack then simple inform your shareholders. It does two things , one inform and two give the impression that you care about anything other than yourself. This side track is meant to be funded so why the long long wait.
The attempted removal of PH was not the right thing for shareholders as the Scottish due were very dodgy people with a track record of asset stripping. But if there was a vote for his removal today I would vote if it was in the the shareholders best interests.
I met him once , his was charming and lied to me. He is a second hand car dealer type person and not a person to be trusted.
It's time to give your shareholders something of value as 3 years of failure is not a good track record .
Only need about 3p to get out .
Do something Mutly.....
'Highly ambitious with a proven track record of achievement.' PMSL - They should turn this into a cartoon series - maybe call it Jackanory!?
From Paul Heywood's LinkedIn
"Paul Haywood
Chief Executive Officer at Block Energy plc
Block Energy plc
United Kingdom500+ connections
Highly ambitious with a proven track record of achievement.
International experience in the UK and Middle East.
Cross-functional skill set with diverse experience and capability encompassing research, strategy, implementation, capital and transactional management.
Strong leadership, commercial capabilities
Focused, organised, methodical and highly adaptable"
Just word salad, the Georgian deal was not his baby a case of who you know rather than anything else, my CV looks better than his if we discount CEO at Block... even then. Also not much prior to 2012 and in terms of achievement here, 6 years and 6 months of cash burn and just his own past words haunting him... some of those old YouTube interviews are shocking when compared to what has actually been delivered, a better description would be underachievment. Right place right time kinda guy, would stand on the shoulders of giants claiming he's the tallest. Ambition is only a good quality in those with morals, ambitious liars end up in highest office but there legacy is usually not a positive one.
I don't think a change is brewing but we need an honest, capital discipline and actual technical person at the helm. Anyways you guys can do what you like but I will be voting against his reappontment at the AGM.
Scrodingerscat and Hepseal - I couldn't have put it better myself!
All very frustrating when even just a little more openness with shareholders would make a big difference.
Regrettably Scrodingerscat I have to agree with your every word.
I cannot understand why WRB-1 is taking so long to get going, in my view this is the one well that should have progressed quickly.
They stated at the end of last year they would return to WRB-01 if JKT-01 was a success, they have all the data, the civils work on the site was carried out 12 months ago, the gas linking pipe to WR38 was commenced in April, I find it difficult to believe that delivery of long lead items is the problem - there has to be a reason and we should know what it is.
If not before the Q2 Operations Report should throw some light on the situation - will make interesting reading.
As long as dipstick is at the helm I doubt we'll ever see any change in the abysmal way this company is run - 'If you always do what you always done, you'll always get what you always got' (as the saying goes). Or to put is succinctly - bin PH.
A couple of weeks to the next quarterly update, I agree this BOD do treat the shareholders a lot like mushrooms.
The rate of drilling since the raise has been quite frankly poor, yes there was the attempted coup to deal with but one spud in the last 6 months is not good enough. The company has benefitted from high oil and gas prices without these high prices they without doubt would have had to cap in hand back to shareholders for another funding round.
It's clear to all and sundry that they need a new drill every quarter to have the balance of averages because even the majors have wells that disappoint, if they do not have a drilling program (which appears the case right now) we will forever be at the mercy of the next drill. The company needs at least 1200 boepd cushion spread across multiple wells for when oil returns to lower levels in 2024, remember Heywood said the first couple of wells would deliver 1500 boepd, we are currently sat at just over 600 if there haven't been declines. With only WRB-1 the only known target.
The BOD need to get their finger out the clock is ticking, the market likes clarity, so it needs a drilling program timetable. So far only prices have kept this board afloat they have unilaterally failed to deliver what has been outlined previously and the radio silence and constant dilution is only getting shareholders triggered.
I share the view that the next two RNS’s will be the y/e 2021 , Employee share options on 01/07 , which I admit are in lieu of salaries reflected in the balance sheet , ( cash v dilution ) .
Spud news and 2nd Quarterly Review will provide the stimulus to re rate the SP. After the middle of July we will see an uplift. Flow rates on WR1 should be out mid to late August.
All points welcome.....
Yes year end should be by thursday , I would expect at the very least an update on the side tracks too, if no significant news before the dreaded share give away , I think that would be pretty shameful and greedy.
My personal opinion is also once the quarter 2 rns comes out and shows significant profits, as it should with oil and gas this high, the shares in lieu should be announced over, that in itself will see a price uplift imho
I think I am correct in saying there will be the Audited Results for the year ended 31 December 2021 before that, i.e. by the 30th June - leaving it a bit late!!
Yes - the next 'snouts in the trough' RNS will arrive bang on schedule - guaranteed (oink, oink).
RNS ... this week ?