This is a discussion board TallPaul and I think it is important that different views are given the freedom to back up or disagree with statements made by others. If we have a rabid de-ramper in our midst we should be at liberty to state whether or not we agree with them. "Qui tacet consentire videtur" (He who stays silent is in agreement) most of us do not agree with the share bashing squad.
Apparently he wanted to make my day - Job done............
BTW Mike I think you need to reserve some of your critique for the company you are actually invested (losing money) in. You are 100% transparent in your posts on here - you will receive NO support or expressions of sympathy from anyone here.
I wish you good luck and I for one would not call you out as a "de-ramper" because you have voiced a dim view of the company in general and the CEO (I believe), For what it is worth I have also considered leaving at various times as the SP has retraced from the high of 17p. Having been indecisive I am now in a position where I can only go on holding but I will de-risk my own holding at some point. Luckily - the money I have invested in here can be left for 2-3 years before I actually need to get any out - so I can wait. I feel very sorry for the PI's who bought in during the climb up from 12p to 17p as they are nursing large paper losses unless they have been able to lower their average. 75% profit is a good result but I can imagine the last 6 months have taken their toll on trust and confidence in the company.
Barrel of oil conversion to Gas volme15 Oct 2019 12:44
Maladoni - there is a rough and ready guide which I think is 6,000 cubic feet of gas is equivalent to 1 barrel of oil. So 6M gas = 1BOE (barrel oil equivalent) in terms or energy. As daily production of 80 barrels that would be 48,000 cubic feet of gas . You might have to convert the cubic feet to cubic meters and then multiply by an estimated purchase price to work out the gross value. I am not 100% sure if the 80 barrels refers to the gas they are currently flaring or if that is an expected daily production from WR16aZ.?
The past is not going to dictate what happens in the future is it.? The points which are being raised non-stop by the "bashing brigade" are known by everyone with more than passing awareness of the background to Block energy. The terrain in Georgia is complex and problem-solving will not be a simple fix. Lets just see what is reported by the company over the next few weeks. As I said I find the constant company bashing boring in the extreme...........there may well be a surprise in store for the bashing brigade.
We all know who the muck-rakers are on here. They have infested the BB for many, many weeks trashing the company the BOD, the CEO and the SP non-stop and really it is becoming extremely boring. You have summed it up very well - the upside from here for Block and similar companies is very appealing - end of story. Balanced views I can handle - I can afford to hold on as my average is already fairly low. However, people who invested heavily at 12p-17p must feel heartily sick of the share bashers - and you know exactly who I mean.
Means I do not have to read the old carp being spewed out by the "knocking crew" Keep on posting I will keep on ignoring you Mr Michael Skid-Mark and all the others. Don't you have some old grannies to frighten or small children to terrorise.?
Maybe you should read some of the previous RNS's as a starting point. In summary the drill at WR16aZ was "producing" at around 250 Bopd and stabilising however when a production update was released the water cut on the production level was something over 70%. They are working to lower the water cut by using swellable packers and hopefully this should lower (if not cure) the water ingress. Block are currently drilling WR30 which will also side track and they are in the middle of acquiring a 3D seismic survey of the complete block at West Rustavi to pin point future drill locations. There is also the prospect of a sizeable gas find which will require building pipe infra-structure and agreed contract with a company called BAGO to purchase the gas. As I said you need to read the previous RNS's and look on Block's own web site for details.
RE: Chat Rooms and BB's...........09 Oct 2019 14:04
Hello Maladoni - Yes I know it is against rules but I think even if they could post on the BBs could you imagine some of the posts that would be generated.......from the hang 'em and flog 'em brigade.? Any "street cred" they thought they had would be in tatters. Mind you being attacked by Michael Skid-Mark on here is similar to what Dennis Healey said about Geoffrey Howe "Like being savaged by a dead sheep".
RE: Chat Rooms and BB's...........09 Oct 2019 13:28
Hello Sea7...............I agree with you 100% taking on the online forums for "damaging" share prices is not going to have any mileage in it at all. The related piece in the Times had a longer section which raised the counter argument that free speech would be in jeopardy if some CEO's had their way. I thought it was an interesting notion that a CEO would "stoop" to reading online content and then complain about it..............to the point of wanting them banned - laughable. Mind you I am not sure that CEO's popping up on the BB's to have their own say would do anything for their "street cred".
"Blamed" for the down-turn in the SP of Sirius Minerals PLC. Some quite interesting points raised in this article about perceived links between postings on websites and impacts on company share prices. ADVFN and LSE get a mention - doubt if the FCA give a toss about distressed company CEO's but worth a read IMHO.
I am being "bad mouthed" on here by someone called Michael Skid-Mark. All I can say is your posts reveal you in all your glory - I have never seen anybody agree with your posts except other cranks and nut-cases as loony as you.