Malcys view...9 Aug 2019 12:48
….. Block Energy
The news around Block in recent weeks has been incredibly confusing and yesterday’s announcement did not address that matter at all. It merely said that the company was preparing to horizontally sidetrack 38Z on the West Rustavi field and is one of four such wells.
I get the impression that the market is more interested to hear about the 16aZ well and what it is producing at the moment, as much has been written about it on social media recently. As far as I am aware some investors hadn’t expected the well to be suspended and when it ‘came back’ it was at a much lower rate of 360 bopd. Yesterday CEO Paul Haywood spoke to Proactive Investors and whilst the excellent Andrew Scott pushed hard he was unable to get a number from him as to current production. I have had a reply from the company and am hopefully going to see Paul Haywood shortly, which should sort things out, in the meantime it is Confused.com all around.