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by walking the SP down below 4.4p seems to be going on regularly as the MM's free up some shares from PI's. I said about a month ago that the support level seems to be around the 4.5p level and until a definitive RNS drops we will be yo-yoing around that level - as far as I can see nothing has changed. We even have the "knocking crew" popping up from time to time to snipe at the SP and try and drive sentiment down. As usual DYOR - I am still here , still holding.
Hi Hepseal - what I do not get is why these people hang around here like a bad smell trying to drive the sentiment towards the share down the drain. They are either mentally deranged, paid de-rampers or voluntary de-rampers (which is even worse). If HB is back on here bad-mouthing the share he has probably been bored after the excitement of Xmas and is looking for a new form of attention seeking activity. As usual DYOR
Hi Hepseal - I know they seem to be like Dog Muck they get everywhere.
I have quite a few on my filtered list so most of the time I just see lots of green boxes.
Am I correct in assuming one or other of the "Knocking Crew" is making some noise on here.?
Cautious11 - Yes I am most people on here would (maybe grudgingly) agree that most of those are factual not speculation. The only issue I have is that the majority of the items you have listed are actually HISTORICAL - they are in the past, gone - they cannot be changed or altered - No matter how much anyone tries to dress it up. As to your other points:
Well38 on test - Yes
Bogo contract signed - Yes
Move to well 51 - Yes
Norio producing under estimates - Yes
3D seismic survey completed - Yes
Remedial work on-going to bring WR16aZ back into production and lower the water ingress - Yes
These are things that are on-going and active - in the absence of a definitive RNS we simply do not know how they will end.
If you are so sceptical about the company and their technical abilities maybe (if you are invested) you should sell up and call it a day. And I do not understand the line (quote) " I’m not buying the gas concept it’s all too pie in the sky" are you aware that BAGO have signed a deal to purchase the "pie in the sky"??
Geowiz - obviously these oil industry bods seem to have got it wrong then:
http://pcgladiator.blogspot.com/2009/01/oil-wells.html
Well proximity - that is not my understanding. I was of the belief that the number of wells over a certain area (density) might affect flow rates. But that most studies show from (meta-analysis) of existing and historical records, that placement of wells in close proximity 300-500 meters is optimal and that the flow rate of the 2nd wells decline as spacing increases until around 1400 to 1500 meters out where flow rates are lowest. As I have said before I am not an oil and gas expert and maybe someone with real world experience can comment.?
Hi Sea7
Having topped up several times as the SP retraced from around 8p I have reached the maximum level of exposure I want to carry forward. However if I had a few quid spare I would be easily tempted to dip in again. As you say this is wound up like a tight spring - you can almost feel the tension in some of the posts on here.
About Block Energy Posted yesterday (08-01-20)
https://www.thearmchairtrader.com/is-block-energy-a-buy-yet/
A nice summary of the situation here and the way that developed over the past 6-7 months.
I liked the final paragraph :
(Quote)
Block Energy looks like a very cheap options play at the moment: there is verifiable retail interest in this stock awaiting further news. If that news is positive enough, we could see this stock return to its 52 week high. It is unlikely to be sold off much below 4.25, hence the downside risk is far less than its upside potential.
GLA LTH's but as usual DYOR
Hi James - I am no expert on the technical side of oil and gas production techniques. Is the extended well test (EWT) something that is applied for and renewed on a periodic basis or does it run as long as the well is "Under test" From what I remember extended well testing in certain circumstances can last from a few weeks to a year or so.?
I doubt that the last one 4.525p was actually a sell. The mid price at the close was 4.60p also, the previous two sells were at 4.25p and 4.35p just my view on it. Anyway to sell the shares someone had to be a buyer at the other end of the transaction....................