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It’s inevitable people are getting p#ssed off now with waiting for news , patience is running thin as shareholders get frustrated on being kept in the dark.
Yes and the update we are all waiting for of course and not another TR1 sell ffs
The facts are we are 22 days into 2020 and we are still guessing. We don’t know how 16 is getting on, wether 38 testing is yet successful or news on how Bago are progressing or if the 3D seismic was worth it and when 51 is spudding. Are you telling me they couldn’t come up with a update instead of treating shareholders like muppets
thanks for that mate. We don't want to get involved with that lot..
Jaytee41
GOGC is the Georgian Oil and Gas Corporation.
The BLOE shareholder is Georgian Oil and Gas Ltd.
Hi DJM
Can’t argue with that. Hopefully knowledge gained from the first two drills and expertise brought on board will see an accelerated future program.
AJW - slightly off topic but do you think that FRRs argument will spill over here. Aparentley FRR are after $3.5 billion from GOG
Hi Maladoni,
well lets say its ok at 38az and 16az stays the same, 51 is next and it does similar to 38az, we will be monetising three wells plus the Norio and Satskaneshi wells. Its taken a year to get here, some cash on hand and a certain cash flow to come, we can't carry on at one well every 6 months and if the 3d seismic proves up 1 TCF or above, then what...performance needs to improve realistically, PH said the book build was to take advantage of the mega opportunity here, if the resource is there then its becoming time that the company stepped up a level in delivery because time frames do matter. Lets hope we start to see some of the promise turn to reality soon.
BOBBBY ... the big one was a roll over .... someone whose expecting good news in the next couple of weeks.....
Hi DJM.
I think its quite a complex process for an oiler sitting on lots of opportunity which is wrapped in complexity. I don’t mind the delay, if its bust then its bust whatever. However I hope/trust they are ensuring the 2nd drill is ticketby boo, thus the purchase/hire of the test kit and the ongoing analysis. I feel its better that results are released when testing has finished and they’ve had an extended period (2 to 4 weeks) of consistent return from the well that can be accurately monetised. Hopefully the change in the drilling campaign is reflective of their confidence. With it being a year as you rightly point out there comes a point when the cash needs to come in. Once it does then they’ll be better placed to look at their growth plans, Paul’s no mug though and if you pardon the pun there’s probably a fair bit in the pipeline, maybe more advanced than we can guess.
I was just going to say Tony that they are strange big trades today . Will we finish blue ?
There’s some chunky trades going through , interesting to see how this develops today.
AJW, more acreage is a great idea but the problem is its taken block 1 year to not complete two wells. Tomorrow is the 1st anniversary of the commencement RNS of 16az, 38az is now 5 months from spudding and these are supposed to be low hanging quick to monetise wells. Something needs to change in that regard because beyond the immediate RNS/RNSs dealing with the expected issues ( we hope) then i can see this falling away again as people persue other opportunities. If the 3d seismic is positive and indeed proves up further resources, surely at that time its time to review operations and see where these can be improved. With cash on hand and to cash come as you pointed out for cost recovery from revenues, would a second rig be the way forward, and is there one that could be had?
AJW : " However, it also means that they have several PSA blocks looking for a joint venture with, PH originated from the Bock V111 PSA owner. "
i can confirm that V111 PSA , has nothing to do with my alter ego ;)
But ~~~ it`s certainly getting exciting here . imo
GLA .
We have been sat waiting for eons for some info... we have been sat watching this slow demise of the share price... NOBODY knows what the news will be... HOWEVER a serious set of BLUE trades with a 3 day upward trend WILL be without doubt A MASSIVE BUY SIGNAL!
I reckon when we get an RNS it will be an Ops update and will cover everything the company has been doing, bago, well 16,38,51 updates, 3D update, norio. Think most will be positive news and look forward to it coming this month sometime.
Only trading recently . Got out a few months ago after the bago leak . Wasn't going to through 11k down the plughole . I'm back for a sensible punt As of today. Again just a trade. GL
Somebody knows something....
After the infamous Hillbilly trade the brakes are off :)
GLA no matter how small your holding
5.3 paid , we could be seeing 6p this week , ticked up another notch
Big buys getting bigger, 400k, 600k, 750k !!
GOG are in needs of potential funds it seems.
My only concern that we will see another TR1 showing another reduction of GOG holding.
Another big buy 750k shares @5p delayed. Time to move up BLOE!
£80k buys v £10k sells since last few minutes of trading yesterday and price doesn't move. Tells you there are still orders to fill. They can have my shares at 50p minimum if they want! Coz they ain't getting one under that price. I feel a stonking update is on its way. As many have already said the oil is just the bonus but the gas is where the huge upside is. Come on PH give us some news. Gas contract agreed . Bago paying for infrastructure. Let's get it connected up and revenue coming in!