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10p equates to what will still be a small market capital for a profitable o&g business
Well said mjs, couldn’t agree more. I’m getting increasingly excited and nervous about the pending results - these results set the scene for the next well so in some ways the result is worth more than the sum of its individual contribution.
Undoubtedly a big flow of news is due and by the end of October we will have the q3 update to digest as well as initial flow results from the current well. A huge period in the life of Block and hopefully a huge turning point.
Seems a bit short sighted for those who have been here a while prices wanting to just break even and get rid at 3p and disappear. I saw a one or two on ADVFN who want to do the same but you gotta understand, past performance is not an indicator of future success, especially in the market, shares can be dogs for years on end and then all it takes is one transformational project to turn it all around.
The idea of getting emotionally involved in the market works both ways, they say don't get emotionally invested in a stock, but I'd also say that don't let your emotions about a stocks or BODs prior performance let you make an emotional decision to sell up, there is a wave to be riden here at way over 3p and money to be made.
Chances that if this is the beginning of a good set of results for Block over the next 6-8 months, the share price will shoot into the double digits with sentiment as traders pile in and volume picks up, whats the point in waiting so long for this stock to deliver and then just to exit at 3p?
Each to their own of course, but from my own experience, and this is why I've put money here, there is a wave to be riden and those of you who have been waiting a while should probably re-consider the exit point of 3p because your wait deserves a lot more than a 3p exit or just breaking even, the least you could probably hold out for is 5-6p and make up for the opportunity cost during this period of time.
I'm personally holding out for 10-15p as an exit point, just like any old shoddy little AIM stock, all this needs is a good set of results and some sentiment and there is easy money to be made.
Bob is 100% spot on and he nailed it first sentence.
I think some posters have a relatively low exit point and they still knock. Beggars belief.
Let's quit the PH bashing until we see what the flow results are. If these 2 wells before the end of the year perform then I think we will all be praising him for the Schlumberger deal and the cooperation with BH. I would argue that the last 18 months we have had nothing but positive steps from the company. We are days away from seeing if they have delivered the goods. I see we had more buys than sells again today but of course the customary drop in sp. I've got a feeling next week is the week we have been waiting for. One would presume if nothing was coming out of the hole then surely they would know that the first day! Have a good weekend all. Let's see what Monday at 7am brings!
~ " No-one appears to trust him ~~~~~~ think we need a scalp like PH to bring some confidence back " ~
I`ve been saying that since the exposure of his stupid , naive , dishonourable `Water Post` .
He IS the elephant in the room .
He IS the problem .
imo :
He has presided over greed , failure , incompetence , non communication and huge shareholder value destruction .
What value does he bring to this business ?
Irrespective of the flow results , I believe he should go . asap .
GLA Long suffering investors here .
The irony is of course that oil is so expensive at present that we are queing down the road for petrol, bloe have allegedly got loads of oil and gas and our sp is dropping on the eve of announcing flow results. You couldnt make it up. The BOD need to make a move and get shut of PHG to tempt some buyers in. No-one appears to trust him. There arent mm games they are actual sellers and its rather worrying. Sadly I think we need a scalp like PH to bring some confidence back. If oil were 100 dollars a barrel tomorrow bloe would be down.
Hold your nerve.Stay positive. Our day is coming...
Talking about some evil shareholders smashing the price down, suppressing any rise in the SP.
The simple answer to that would be for the Bod to issue true and commercial flow rates and those evil guys would look like King Canute.
Now come to your senses, all it needs is for the Bod to show their worth.
Incidentally where's your cheerleader today?