Member Info for Gary1960

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.?

Cautious11 - I joined the club several months ago. It's only money - its not like I have to give up a kidney or a lung or a kidney should it go Pete Tong. Fingers and toes crossed.

Cautious11 - Take it from that you won't be topping up either - fair enough - each to their own.

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.?

Hi AJW - would be nice of Block to release some updates. Would also be nice to silence the moan and groan merchants on here. Hopefully an RNS on progress before the end of the month.

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....................

Of low volume trading - its a bit odd to see well over a million shares being bought between 3pm and the close.? Obviously there appears to be buy side pressure building. Why I have no idea.

AJW - At the time the water cut of 78% was derided by certain parties on the board - as an example some people posted things like "Oh they are producing fizzy water with a bit of oil on top" Well as far as I am aware there are examples of water cuts up to 80% that are commercially viable (set aside the gas). So long as the long run cost of separation, water disposal, transport and storage do not outweigh the value of the oil - it can still be profitable. The fact that WR16aZ was being choked back to 3mm would limit the volumes being produced. We are all aware that they are trying to remedy the water ingress but it can be a very long process to establish stable flow rates. A well with a high water cut is not desirable but it can hopefully be improved and still produce at commercial quantity/quality over an extended time. As a side note the gas is rarely being mentioned - it has the potential to be the money maker here. As usual DYOR

Exactly CaptainStanley. People are free to sell up and move on, take profits, take losses or hold their shares long term. I am not swayed by the rabid rampers shouting "Buy, Buy, Buy" and neither am I swayed by the doom and gloom mongers shouting "Sell, Sell, Sell." Having made my own decision to hold long term I will have to live with the consequences. Its just a pity that there are a group of bitter and twisted former (or imaginary) shareholders who regularly pop up to sprout rubbish and try to misinform weak or inexperienced investors.

Yes I think there are those who ran off , there are those who traded on the rise and fall and there are those who have just held on. To give all the doubters something to think about here is a quote from Winston Churchill:
"Success is not final, failure is not fatal: it is the courage to continue that counts".

If the share, the company, the production level, the CEO and the BOD are all so crap - I fail to see why you are so desperate to buy in.? On a separate matter - can you tell me how long you think it would take for water ingress to increase from say 20% to 75% at WR16aZ .? I am really curious to know that - you seem to be implying that the water cut went from 20% to 75% in a very short period of time and that this was "withheld" by the company. Lastly, where do you get your information from.?

and only one.....................for the list of blocked negative spin merchants.

I have taken the view (belatedly) that there is no point in feeding trolls. The STD I include in this category. He is now on my filtered list.

Hi Hepseal - As Groover says so long as its good news I will settle for anything they care to tell us about. WR16aZ has potential to really improve sentiment by implementing Block's stated strategy of isolating water ingress to lower the water cut. From a PR/IR point of view the sooner they report on it's progress the better. As you say there are lots of items to be reported on in the next few weeks................

Tony - it reminds me of the old line: "God give me patience ................. but hurry". This delayed gratification is 100% nerve shredding. From recent share sales (small volume) it looks like the lack of news has shaken out the weaker PI's who were expecting a sudden rise in the SP. I share your opinion - it will be a game-changer once news drops here.

Cautious11 - Since it is difficult to really know where your money is being invested and how products are really produced - (there is often no "end to end" traceability) then there is only one answer. Grow all your own food, produce all your own clothing and live by "barter" rather than by taking part in the capitalist system. However, walking around dressed like a third world reject, drinking home brew and smoking used tea leaves is not to everyone's taste.

Hi Greg - Interesting the two refurbished tanks I assume they will be used at WR 38z, WR51 sites as they are close together. The large grey tank at the extreme right hand side looks like the Gas seperator tank that had been in use at WR38z. Would that mean that the tank is in transit, at WR51 or is it an old picture .?