Member Info for ADT1

“We plan to build the production rate from our Norio and West Rustavi operations by the end of H1 2019 to 900 bopd, which at current oil prices would generate annual revenues of circa US$13 million.”

Now nibbling cheap stock below IPO 4p and City buy in

Block presentation http://www.blockenergy.co.uk/wp-content/uploads/2018/09/block_energy_corporate_presentation_sep_18.pdf

Baron Oil #BOIL Two very high impact wells back to back fully funded. Wick now underway, success here and its a multi bag start to 2019.

Thanks gkb47

Block Energy has a news rich period coming up with the City in at 4p IPO, the current SP offers great entry. Re-rating potential with fully funded work programme and news flow.

Opened a position with 500k at 2.74

Trades not showing, took 2m at 0.45 around 11 but not showing.

Trying to work out why on earth the sp continues to disappoint and depreciate. They have mentioned acquisitions a few times and again this week, on one hand I would really welcome extra projects to excite the sp especially drill ready projects, funding the acquisitions interest and subsequent commitments especially with raising at this level would be suicidal. Personally I would like them to keep it simple and avoid adding new projects, focus on getting revenue from italy on top of Romania this year and 100% attention to progressing Spain for the drill bit to turn before year end. “Shareholders can expect more of the same in 2019, as we look to advance all our assets, add new projects to our portfolio and expose our shareholders to more value trigger events, such as drilling or first production."

Glad to note that all things being equal Spain now touted by Petrel as being late 2019, that will be huge and will be just what we need. We now have 15% of a very interesting huge potential project, the next 35% for 1.7m can be either wholly Prospex or farmed down partly or fully. Plenty of options as the target is so huge, market conditions (post deal/ no deal March 2019) to access funds and appetite of sector peers I am sure will dictate as we progress and firm up the data and prospect.

its been most disappointing to say the least and still pulling down , something needs to come out of the bag and soon or the 0.2’s fall and that would be a disaster to me and many in the .5s

He has suggested an other acquisition

I am sure they will farm out closer to the action when the final 1.7m is due. For now the 280,000 euro for the next 12.5% must be covered by the loan note, taking the steak to 15%.

Good indication to see this short position now closed.

Had a reply today to my long email the other day, best reply I have had from him as a holder, very impressed to say the least.

Italy production will make a huge difference on top of Romania production which is now on tap. The proceeds today to fund 2019 development costs at the Selva gas discovery on the Podere Gallina Permit, Italy

Pleased with this news.

I do like the assets and potential and have a lot invested here, but Edward Dawson is doing very little to inspire any confidence and needs to get a grip very quickly. Sent a long email today, auto reply back in the office October 11th, currently on a field trip. I am going to give him the benefit for now, but he needs to do something quickly.

Edward Dawson can’t be allowed to continue much longer, if he is capable of continuing as MD he needs to show he has his finger on the puls and come out with something in the very near term to install some confidence.

The prospex MD Edward Dawson, needs to address the deteriorating value and sort this out or move aside to another role asap. Send him your views, opinions and thoughts as shareholdrs, his email address: edward.dawson@prospexoilandgas.com