Member Info for Avi8r

i think its desired moniker is incorrect; realslimeyknob

Thats great MP, thank you for posting those details. Very much appreciated.

Madpunter - were you the one that provided detailed calculations based on all the available data to hand at the time?

See CHAR are experiencing gains following announcement of 1tcf gas with some brokers suggesting a conservative 50p target price. How much did we have? Was far more than that and I remember some-one providing detailed justification for a £1.50 share price here.

As long as the dog twitches there has to be hope

"As already stated by others this will be key to Block's future in the short term, if Block can replicate the success of JKT-01Z (assuming it is a success) then as Chesh says I think 1.7p will be history."

History potentially, but it will not double in price. I suspect history will loom large and unless results, and more importantly, inter alia, performance and confidence, is returned this will stagnate around 2p.

"Is 101 volume a signal ? Or am I being overly confidently superstitious"

Yes, you are. Nothing will change here until things change, productivity is consolidated and confidence restored. For the impatient cheerleaders it's not going to rise substantially, break 2p or 16p any time soon. The best we will likely see is a consolidation around 1.7p IF and WHEN flow rates are stabilised, 2nd side-track is proven up and contiguous progress confirmed.

Far too many people here simply don't know the history . Were they cognisant with the facts it would be a far more reasonable and rational commentary.

-Breach of covenant not to compete
- Request for permanent injunction
- Request for recovery of costs

What about the California proceedings? I understand these apply to Texas and California laws are different in respect of breaches of covenant. However, this could set a precedent and pave the way for similar orders in other jurisdictions.

Slowly slowly it seems to be drawing to a close. Once thats sorted and this malfeasance is behind the company can look forward to a brighter future, starting with a long overdue investor update.

Agreed, February should deliver more news and developments, but rising demand and prices will help BLOE income stream.

I would expect to see confirmation of the 12 sidetrack explorations, preferably with dates and sequence. JKT-01Z reported initial production rates of 344 boepd (241 bopd. 17,500 m3 gas/day) coupled with the comment that production rates were constrained to remain within the safe operating limits of the existing gas infrastructure at larger choke sizes. It will be interesting to see how that is addressed, but consolidates BLOE position further, hopefully allowing the latest shares in lieu of salary to be the last, or at least one of the last times required. If they can improve the infrastructure to allow for greater rates great, but obviously a trade-off required.

Despite all the conspiracy theories, some which have credibility based on last years failed take-over, the price is likely to remain in this range. Action and [positive] results will move the price. Could very well be an interesting month, but its miles away from the highs of 16p in May 2019.

February could well be the beginning of a long overdue improvement, but Haywood also has to rebuild his credibility.

Good to see all the hysterical posters have, like hyenas, have moved elsewhere. Some of their behaviour is worse than petulant children who cannot get their own way, resorting to screaming, shouting and pure vitriol in their attempts to grab attention. They ought to be completely ashamed of themselves and a ban to reflect on their misguided behaviour and manners would not be overdue. To suggest crash landing in the Atlantic after Air France 447 is just sick and that poster ought to be totally ashamed, particularly with their goading of others.

Other posters are also complicit, thankfully departed now, while BLOE works towards consolidating processes following the recent success. The future is now a little brighter, the market is down overall, there are tensions around the world and this is further exacerbated by matters between Russia and Ukraine, with NATO and its contingent offering 'resistance'. Its always been thus, but it creates uncertainty and the market exploits that.

A hold for now, once again for another time, and let's see where this goes over the next few weeks. Hopefully without the childish cheerleading and pathetic name calling. People seem to forget why we are all invested.

Amazed at the lack of excitement by all the cheerleaders over this. Thought they'd be over it like a cheap suit.

· Good progress has been made with testing at JKT-01Z, with initial production rates of 344 boepd (comprising 241 bopd and 17,500 m3 of gas per day)
· Rapid monetisation of gas and oil production is expected to make Block's monthly cashflow positive
· Nearly $500,000 additional cash revenue per month, based on current production rates and sales prices
· No LTIs, with time and cost to drill beating forecast by 20% and 10% respectively
· Over 30 per cent higher gas price achieved in Georgia, effective from 1 January 2022
· Success at JKT-01Z significantly de-risks and enhances optimisation of future drilling
· Twelve further sidetracks, analogous to the JKT-01Z, being assessed, including re-completion of the WR-B1 well

According to one excited poster this will now send the price in to orbit.... (decent flow rates(200-300boepd) will send this in orbit!! imo.)

LOL

"One of the three is a Partner specializing in fraud, and the other 2 lawyers are from the IP group."

A very interesting development. Fraud is a particularly difficult claim to prove and even enlisting a specialist in fraud does not guarantee success, but does however, indicate the depth of the problems dealing with. Intellectual Property (IP) lawyers are another interesting appointment too, which will also serve to underpin the fraud claims.

This should bring the matter to a close and if ZM has no funds or decides not to defend, it could be game over for him. Lets hope tensions in Ukraine ease off, there is no appetite for conflict and people are realising the futility of that. Despite the complications, and Ukraine is, nor will be, a NATO member, I suspect things will return to normal.

Roll on the closure of this saga....

Resorting to personal insults simply reveals ignorance and you have revealed more about your character than those you have attempted to insult. Show some courtesy to others and you might be surprised at the response.

Try undertaking some research, which incidentally rxdav and I have both implied, and you will soon have a better understanding of this organisation. ;-)

Block Energy PLC, the exploration and production company focused on the Republic of Georgia, announcesd its intention to conduct an accelerated bookbuild to raise gross proceeds of up to approximately GBP 12m by way of a placing of new ordinary shares of £0.0025 each in the Company .

They undertook the placing to fund acceleration of its development strategy in relation to the West Rustavi PSA. They then intended to carry out the following works in West Rustavi:
· Drill up to four horizontal sidetracks to scale up production and fund future capital programmes.
· Expand production facilities to increase capacity to 4,000-5,000 bbl/d.
· Acquire 3D seismic to provide critical understanding of subsurface.
· Appraise two existing gas discoveries.
· Drill one new well targeting gross contingent 2C gas resource of 608 BCF.

What happened?? Why is the price not over 20p???

Talking about increasing capacity to 4,000-5,000 bbl/d, yet you lot are getting knlckers wet at 400 (decent flow rates(200-300boepd) will send this in orbit!! imo.)

Get a grasp on reality...

Thank you Hepseal - indeed we do and this demonstrates the realities of this share.

Taken from the RNS dated 15 May 2019 - 'Proposed Placing to Raise up to GBP 12m million'

How the Block has crumbled since then...

Can you just reign it in please?

All this cheerleading is annoying. Nothing is going to happen until tangible results are detailed, no 1.4p, 1.6p, 2.4p. It's going to hover around the current datum.

What would you be like if they posted the following in an RNS:

Drill up to four horizontal sidetracks to scale up production and fund future capital programmes.
· Expand production facilities to increase capacity to 4,000 - 5,000 bbl/d.
· Acquire 3D seismic to provide critical understanding of subsurface.
· Appraise two existing gas discoveries.
· Drill one new well targeting gross contingent 2C gas resource of 608 BCF.

Shouting louder and even greater fanciful prices?

Enough

It appears to have closed at 13.6% increase, opened at 1.1p closed at 1.2/1.3 . Taking the mid price and opening price gives 13.6%, a rather more realistic figure. But a rise is a rise and it should consolidate around this level pending flow results. Suspect flow results will not be published until BLOE are confident, particularly given the previous disaster. Expect to see slight variations in the price between now and mid February, but given the confident messages it bodes well.

A long way to go to see the dizzy heights achieved in May 2019 though. That would need a 1224% rise, but the news today is promising enough for recent short term investors. Long may this continue given all the problems BLOE has experienced over the last year or so. As KerryMerry posted "Positive day-on-day increases to 1.5 -2 p over a fortnight will be more beneficial than a single day 50% jump. This share should benefit LTH, not day to day cowboys" and will ensure the rise is consolidated accordingly.

A 120% rise?

Not today...

Geowiz, you dont really do yourself any favours do you?

I agree, 450 Mbbls over 20yrs doesn't cover BLOE is glory, but to apply the same rate to the new target is simply disingenuous. As TSBS comments, stop with the negative thoughts for once and recognise the positives.

Must be a barrel of laughs living with you....

Earsbern, thank you for challenging me and you are indeed correct. I've reproduced your own submission from early 2021 detailing the timescales which this relates to (Document 86, California.5 Jan '21):

Doc. 86 (joint submission 04/01/21), asking for rescheduling of the trial schedule.
Both parties state that they have been unable, thus far, to reach an amicable settlement. If the case is to go to trial, both parties say they want to seek additional discovery, including depositions. They state that
"circumstances surrounding (FRR's) business operations amid the coronavirus pandemic and (FRR's) recent further substitution of counsel (note - all counsel changes have been covered here by previous docs) have culminated in the filing of this (request for extension), to provide the parties with adequate time to complete their mediation efforts before conducting the necessary additional discovery and related proceedings."

Doc. 87 - Judge Seeborg complies with the request. The new schedule (as requested by the parties) is :-
26/02/21 - Complete mediation.
19/04/21 - Deadline to amend pleadings without seeking leave of Court.
21/05/21 - Completion of non-expert discovery.
18/06/21 - Deadline to serve expert disclosures.
16/07/21 - Deadline to designate rebuttal experts and serve disclosures (this item was not in the old schedule).
27/08/21 - Completion of expert discovery.
07/10/21 - Deadline to file pre-trial motions.
26/01/22 - Final Pretrial Conference.
14/02/22 - Jury Trial.

Assuming they are on schedule the matter is approaching the pre-trial conference where legal argument will be outlined. This makes sense that Sharon Urias, an IP lawyer, should be included as much of the argument centres around who owns what and in what capacity.

Be interesting to see if this hearing is broadcast but given ZM's situation it seems he is running out of options.