Member Info for cperkin

Why have the board not just issued a statement to confirm that they are and have been fully compliant with the AIM rules and MAR over the last 3 years?

HE1 must be very close to the results of the first well now, only another 2 to 3 wells to go after that. I guess the question is, what do the BOD do with the 9.55 million shares if a well comes in? I suppose it will depend on the SP movement at HE1 as it could provide enough cash for the 2021/2022 Ruvuma budget?

Hi little much the same as they were this time last year really.

Sale of Ruvuma for $20 mill + (Zubairs have upgraded the resources with another TCF so in theory it's worth more) or Drill Ruvuma post licence extension and 3D.

All looking very cheap at £6million imo.
Bio gas acquisition is due for completion any day and will be revenue producing, although small.
Other acquisitions
Helium-1 drilling, 1st well should be about complete with 2 to 3 more wells to go.

The BOD need to get their communication act together and realise the market place they are in or we will all be looking for some replacements by year end I expect.

Anything above 200 BOPD will be a positive result and help bring some well needed cash into the coffers at todays Oil prices.

GLA not long now

https://twitter.com/Heliumone1/status/1419646335758782467

+1 V111JAS

AJW for RNS writer, we would all know where we stand!

Agreed trrime and as per SVS post the other day I think the BOD have forgotten as well!!!

Hi AJW I can only go by what I have read in the RNS, they say the price was negotiated in May2020 but did not inform shareholders till April 2021. So either they knew and did not tell us or were incompetent and had no idea that the gas price had been renegotiated, I guess the second is not as bad as the first but even still, good grief.

During 1Q 2021, the Company achieved its first gas sales. For the period from 15 February 2021 to 31 March 2021, it sold 38.4 MMcf of gas for $125k, resulting in a weighted average price of $3.26/Mcf. The price of the gas sold is at a fixed discount to the price of the last tender completed by the Georgian Oil and Gas Corporation ("GOGC")9 for the sale of its gas, as provided in a revised Gas Sales Agreement signed with the buyer of the gas, Bago LLC, in May 2020.
https://www.lse.co.uk/rns/BLOE/q1-operational-update-1qlgsrsqsqxifsb.html

As for the continued nonsense about SCIR buying up block assets, it's complete fantasy imo, not that I believe the BOD there would even know what to do with them if they were given them based on their passed performance.

And yes I am invested because I think the share here is very undervalued when I look at the asset base AJW and the same reason why I hold SCIR, certainly not because of either BOD as it happens.

Not pro anyone, glad you think the BOD have done such a great job here and not lied at all, well done on your one eye point of view.

I am sorry but I have to disagree holy, I would say the second requisition provides some direction as to what is on the way and there are clearly some Governance issues at BLOE, the question now is to what extent. 2 NEDS have resigned, a huge red flag at any company.

What do you make of the reference to the GSA holy & the fact it was renegotiated and shareholders not told for 11 months? Anther huge red flag for me I'm afraid along with the fact that was then technically a closed period where the BOD had inside information for 11 months .

If I had as much invested as the big players, looked at the current SP + the flow rate debacle + the GSA debacle etc, I would be unhappy as well.

The second req suggests there is a lot more wrong here than I can see. Maybe the honourable thing to do would be to step down rather than put us all through this during the drill!

Why would that be trrime? & you keep saying the same every month for ages now. Seems everybody has forgotten about the 9.55 million HE-1 shares currently valued over £2million?

I smell a rat.

Have a nice day.

How have the Board let themselves get into this position when we should be talking about the drill? Does not do much for my confidence in them I'm afraid.

Indeed Zag, and profits come from flows from drilled wells, drilling done and they should now be flow testing.

Anyone who focuses purely on the past and discounts the current drill underway is in cloud Cuckoo Land or maybe just under 5ft 3 inches :)

I think the issue for us shareholders are that other than the obvious failings already kicked around this BB such as the GSA communication and flow rates, investors simply do not have enough of the background to make an informed decision. I am very concerned by the independent NED resignations as it hints to me that there are Governance issues maybe beyond those already highlighted. GP Jersey need to add some meat to the bones and fast.

The sooner this is put to bed and the focus on operations the better, we have an exciting drill underway which could help transform the fortunes of the company and the SP, not that you would know it judging from todays price.

I will make my final decision once I know more.

GL

I am no expert on corporate Governance for AIM companies but I guess the clue is in the name, Non Exec Director which are required amongst other things to make sure the communication from the Chairman is timely and accurate.

Squeaky time for both Shorts and Longs.

Bet of luck both!

CV is the only NED left

I think you will find that the recommendation for governance is that 2 independent NED's sit on the board, so definitely not surplus to requirements and more suggestive of corporate governance issues with the 2 NEDS resigning to divorce and protect themselves imo.

Guess it will all come out in the wash.