Member Info for EyeGuy

no worried Pecten11. It explains the behaviour over last few months. Each decent RNS has just provided volume for MYN to dump and actually not put on any value for Block. Looking forward to more news now. Company are busy over a quiet period for some co.s.

Pecten11-
From MYN:
BLOCK ENERGY PLC (“BLOCK”) Mayan holds 8,510,341 ordinary shares, which represents 3.29% of the entire issued share capital of Block Energy Plc.

Trade of 8510341 went through as a sell other day at 2.4
not been notified yet

The reasons for lack of movement ie MYN selling have now been removed.
It’s only blue sky’s from here imo. $600 mill project value vs £7 mill mcap.
Herd will be here soon imo. They always seem to be happy paying more rather than get in early

3.1 ask. 10% up. good start.

$600 million project value vs £7 mill mcap. Multi bagger coming imo.
Operations to get production increased 10 fold have started.
ExxonMobil entered now. Schlumberger next door.
Stock of 2019 this imo

I think a lot were buying but MYN were selling. Now out

Rns out.
Block Energy Chief Executive Officer Paul Haywood said: "The Georgian Government's Agreement with Exxon further validates the country's credentials as a secure and stable place to do business, and an emerging hydrocarbon jurisdiction in terms of naturally occurring oil and gas. Thanks to our positioning and excellent relationships in Georgia, we have already secured a high-quality asset base, which includes multiple low risk development opportunities as well as a huge gas discovery that we estimate is potentially worth US$600 million to Block. Having raised £5 million at the time of our IPO in June this year, we are well placed to play our part in realising the potential of Georgia's energy industry. Work is already underway at Norio to increase production to 150 bopd by Q1 2019, and we will drill sidetracks and test the gas discovery at West Rustavi shortly. With so much activity on the near horizon we look forward to a high-impact newsflow over the coming months."

big upside now.Perforation tool on its way to help with operations.
ExxonMobil now taking an interest in Georgia:
http://georgiatoday.ge/news/12894/ExxonMobil-to-Study-Hydrocarbon-Resources-in-Georgia?9046

Schlumberger operating next door. Quick as a flash this can rerate. MYN held this back over next month. Now they are out.
GLA

project value of $600 million:

With a netback of c.US$2.6/Mcf and conservative 50% recovery the Board believes this translates into a c.US$600m project value to the Company

This is why I'm excited here and have been adding:
Block Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to announce it has signed a Memorandum of Understanding ("MOU") with Bago Ltd ("Bago"), one of the largest private gas suppliers and purchasers in Georgia, for a proposed offtake agreement for gas produced at the Company's West Rustavi permit ("West Rustavi" or "the Licence"). Block currently holds a 25% working interest ("WI") in West Rustavi (increasing to a 75% WI after earn-ins described in the Company's Admission Document of 4 June 2018) which has proven reserves and gross, unrisked contingent resources ("2C") of 608 Billion Cubic Feet ("BCF") gas and 37.9MMBbls of oil.

Should be a good rise now imo. Volume is better. News due. Any decent news should re rate it

Cracking day. Took some in the 0.5’s admittedly not enough. One to hold now

lots of news due. the company is busy- see what they have been tweeting. seller is now out. will be going up imo

Nice. Should be 6p imo for where they are at least

Added on the bell. A good run coming now imo

Well that’s $4 million coming in so no placings likely now.
That should teach them a lesson not to mess around. Should be getting towards 1p now as a base imo

Spike- they probably don’t as the money has to clear in the name of the court and the guarantee too.
3 hours before the rns they were stalling and tried to get the extension. To get the money and guarantee before the court in 3 hours would be a tough ask if you ask me.
Try sending £3 million through a uk bank and see how long that takes.

Nope. 28% up on ASX. No rns would be coming today as court is closed :
a) GSPC is directed to deposit a sum of Rs.8.25 crores rupees (US$1.1 million approx) before the Court in the name Registrar of the High Court on or before by 15 November 2015#;

b) GSPC is directed to submit a bank guarantee for Rs.21.75 crores rupees (US$3.0 million approx) in the name of Registrar of High Court of Gujarat latest by 15 November 2015#; and

The money goes to the court registrar and the courts are closed. They also have to provide the bank guarantee of $3 million which for me would be a tricky task seeing as though they have no money.
So even if the registrar has the $1 million, if the bank guarantee for $3 million is not there then assets to OEX

The cash can be used to drill and get this moving. They wouldn’t pay if they now didn’t want to move.
Both are good scenarios. Court decision has forced the hand. Very confident now