Yes LB as per my recent communication with Justin, he said " preparations for the drilling of 38Z are very well advanced, as is the groundwork for the award of the 3D seismic survey contract". Getting there. It seems to me the spud on 38Z is taking a long time but I don't really know what is involved with preparation work prior to commencement of drilling? Maybe some more knowledgeable could let me know?
I hope Block are not actually paying their new IR company as they don't seem to be doing anything at all to bolster investor confidence. I could give the company some beneficial IR advice for FREE. TALK to your investors and tell us what is happening GOOD or BAD. The continuing silence is doing no good at all and only sowing seeds of doubt. If there are issues let us know and if things are going well, also let us know. Come on Paul, get a grip.
I am relatively upbeat with the response I had from Justin earlier in relation to some questions I posed. No major new information but nothing negative either. I feel all is good:
Thanks for your enquiry. Just to reassure that we are pressing full ahead with our drilling programme: preparations for the drilling of 38Z are very well advanced, as is the groundwork for the award of the 3D seismic survey contract. We continue to build up and refine our operations capability. We will provide an update on the status of 16aZ as soon as we are in a position to do so, and publish the associated Q&A: those are cast-iron guarantees.
RE: £27m v $1.2 BILLION gas (+ oil)16 Sep 2019 07:24
Yes I thought there might have been something by now. Still nothing of Malcy's interview either. From a company that was ALWAYS on the airwaves to one that is now permanently silent I confess it makes me nervous. Maybe an intra-day rns or maybe not!
Thanks for the update guys, much appreciated. It will be good to hear what Paul had to say BUT I REALLY want to see an rns updating me (and obviously you lot as well lol)with flow rates, spud details, storage and sales of oil, the Bago deal, if we are still on target and schedule with forward drill plans AND the when we are going to get the promised Q & A's on the website. Come ON everyone at BLOE PLEASE GIVE US SOME INFORMATION!
I find it unbelievable that the company have zero rns-able news, it have been such a long time. Interim clean up figures would be good and I am pretty certain that if those figures were good they would be out. Even the spud on 38 seems to be taking a long time. Aren't we supposed to have 4 wells on the go before year end? It's mid September already and time is a moving on. Hoping for good (any) news soon.
No nomura, I think many people realise how undervalued this company and share is. There has been a lot more interest today and I firmly believe the share price will rise slowly over the next few days and far more so on news from the company. There is much imminent news due from Block, hopefully much if not all of it positive. We don't want to see huge spikes in the share price that quickly fall back, we want a steady upward trend. I am only 50% down right now, which is better than the 60% plus from last week. With a little luck and good fortune and positive noises from the company I'll (like many others) be back in the blue sometime quite soon. 18 months time I can see the possibility of almost £1 a share. Fingers crossed. Gla
I just got exactly the same response from Justin about 10 mins ago. I had also asked abut the Q&A section on the website which has been promised and Justin answered with this: "As we said in our RNS we will also be releasing a Q&A, which we'll do when we are able to provide accurate answers to all of the most common questions our investors have asked".
I'm not sure if that answers anything really but it leads me to believe that 16az IS STILL in production and not as some have speculated shut in. Hopefully more news soon.
Yes I guess knowing what we know and understand now sheds a different light on the reading of that particular RNS. What I still don't understand is why they mention the initial clean up as only taking 6 hours "during the initial six hour clean-up phase stable wellhead flowing pressures of 500 to 550 psig were observed" and yet now we are told clean up takes between 90-120 days. None of it makes much sense to me.