The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Rocky I would say about 30p. 200million market cap plus. Easily achievable with more production and proving up the huge gas resources. Just hitting 1000bopd will give us nearly $30 million a year revenue. Other companies have reached 400m - 800m market cap on a discovery alone (not naming any names) so I fully believe 30p + will happen here once the development plan progresses. Onwards and upwards block!
So looking back to Q4 ops update we were producing an average of 300bopd and we've just added 240bopd so excluding all the gas completely then I would say a company producing 540bopd and zero debt should be worth considerably more than £8m market cap. Add on the gas production and hopefully the next successful well in due course then there is absolutely no doubt in my mind that Block is on the way to being a mid cap player in the region. Just a matter of time! IMO. Looking forward to a great year now and sooner or later we will be on everyone's radar!
I would expect next Tuesday for Q1 update. Hopefully they announce the end of Q1 production figures along with the average. News on the next well spud date and an update on the recent farm out news. We've just added about $6m USD annual revenue with this latest well on top of existing production and yet we are still at this sp. I agree we should be 3p minimum NOW!!!!
https://youtu.be/FtRzDpZoFgw
And just to remind everyone and for the people who haven't seen it yet, don't forget how much gas is there! It's HUGE... Block energy has a bright future now!
Are we now seriously undervalued as a company with our production and assets and partners and infrastructure and potential or what????
Well said staypositive!
Excellent news Block. Onwards and upwards today!
I think you'll find 144m shares were issued in December 2020 in the placing that raised £5m . Looking forward to us cracking on with the massive gas discovery at Pat E-1. According to the you tube video we should be appraising it early this year. About time we started to get this stuff out the ground. Onwards and upwards this week.
I'm still here. Waiting patiently.
RIP Tony. Your positivity and regular oil price updates will be missed on this board!
Rocky approx £18.5k buys today and £11.2k sells. I make that more buys than sells. Even if the buys and sells were reversed would a net £7k difference really warrant a £800k loss of value of the company?? Bit more work required to hopefully see the result most of us want from this well.
Why have we just dropped 7% on a few sells ffs. Spiceba,:-/
Looks like the seller cleared. No reason why we can't move fast back up to 0.3ish for starters. We are valued now as a company without the previous debt LESS than when we had the debt regardless of number of shares in issue. It absolutely beggars belief. I would think a pretty rapid re rate is in order.
That 46p sell must have been the last of the remaining shares .. onwards and upwards now.
Someone desperate for 46p
Yep Maxcaddy won't be happy with that! Looks like all going well upto now!
Do I detect a hint of positivity there Pat? Good lad, you know it makes sense. Q4 update this week for sure and very close to TD of B1 in the next week or so!
From July RNS..
"Over a six month period, anticipated to commence in Q3 2022, the Santa Cruz Sur partners intend to seek to increase production by approximately 40% from the levels previously achieved over H1 2022"
Q3 2022 did you write there Martin?? Have you started anything yet? Who are you accountable to? Are you still receiving your big fat paycheck? It's about time you showed your face to some media outlets and explain what's going on. And I don't mean that useless Directors Talk that nobody watches. Get on proactive or vox markets. Get promoting our company FFS!
"I look forward to reporting further progress that will deliver value to our shareholders."
Is Martin taking the p*ss or what?
I would also like to thank Marco for his contribution to Echo. Thanks Marco!
Is Mr Bessa still on the payroll? Wtf does he actually do? There will be no hiding Martin at this year's AGM. Do you remember that you have a Twitter feed? Coz the updates to shareholders have been lacking. Aaah sorry you were on your hols probably in Bahamas or somewhere nice. Great life for some!
Are we seriously still at this price? 2.39p was paid only 3 months ago! Come on Bloe, time to light the afterburners. Plenty news due now over the coming weeks and months!