The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
MgBRG96
"lastly for the record sarah alleged that chesh has stated that 'it was the government that have stopped block drilling on pi'"
"as a result i reported her endlessly as it was untrue and baseless"
The only problem is that Chesh did actually say something on those lines - come on Chesh OWN UP!!
So Madman Rob was totally correct, his post just prior to the one below has now disappeared along with the 1234 posts.
Reporting 1234 serves no purpose, you loose valuable post's by others.
Conversing with 1235 serves no purpose, the board just's get filled with futile tit for tat argument.
OK Chesh, that will be interesting.
My initial reaction was it was a bit predictable and despite all the hype here there was only about three "sensible" comments on this chat board afterwards but all now taken down.
Having now listened to it twice and taken in a few comments here by others I think I can see clearly where the company is at the moment but they could be at a bit of a crossroads depending on how negotiations go with others and may have to veer off right or left.
If they are negotiating with more than one party then these things rarely get sorted quickly so I can't see any more significant news for some time - Just my opinion.
Numbers were on the slide as follows - The chances of achieving these figures has to be on a sliding scale so to illustrate the point I have added some indicative figures in brackets - PURE SPECULATION I MIGHT ADD.
150 bopd = $40k per month - (9 out of 10 chance)
300 bopd = $295k per month - (8 out of 10 chance)
600 bopd = $805k per month - (7 out of 10 chance)
900 bopd = $1,310,000 per month - (6 out of 10 chance)
Anyone agree or disagree??
I see this mornings debate has got off to a good start!!
Anyway I am registered for tonight in my capacity of an existing small investor and a prospective larger investor but will probably miss the start and will have to play catch up.
Good morning Ra11adw2, not sure where you got your numbers from but the operating cash flow figures after deductions are actually shown on the latest slide as follows:
150 bopd = $40 per month
300 bopd = $295k per month
600 bopd = $805k per month
900 bopd = $1,310,000 per month
Note; above is not a straight line graph, so as they say, the more the merrier.
Fair comment Bobbby - Yes I did say I was not going to post here again until final results, primarily because I saw various red flags at the time, others did not agree so I thought I would let it ride out and see what happens as I have concerns that there will be a cash flow problem in the near future. You say I can't stay away, I wonder why - yep I wonder myself sometime, but having built up a certain amount of knowledge over the last five years if I see a post that is IMO blatantly wrong, either ramping or de-ramping then I want to have my say - perhaps I should keep quiet.
I invest and/or trade in many other shares but don't necessarily comment on them because I don't feel I have anything to contribute to those particular conversations. Yes, I do not have a very large holding in Block at the moment and see no urgency to jump back in big time at the moment until I am clear on the cash situation. As you have said many times the potential could be enormous, but IMO I can't see any significant news flow for the farm out kicking off for some considerable time.
That said it will be very interesting to see what PH has to say at the upcoming Investor meeting on Monday and I am registered to attend.
You are right to question me but I can assure you I have no Agenda other than trying to get at the facts. GL
MgBRG96 post @ 6.34:
"Block is a 6 year old company, it has its own rigs and its own internal drilling company, just toggle you a little teaser about FRR I do believe they're subcontracted the Block drilling team out onto B12 as we speak so there's hope something is going on there."
MgBRG96 post @ 8.02:
"I'm sure of nothing when it comes to the drilling part of Block it's just a hunch."
I do agree with you on one thing MgBRG96, "it's just not right that people come on spouting rubbish in an uninformed manner."
MgBRG96
As far as I am aware Block Operating Company only have an A-80 service rig that they inherited from Schulmberger but all main drilling for all the new wells to date has been contracted out and carried out by the rig owned by Georgia Oil and Gas Ltd.
You mentioned FRR - Are you sure that it is is Block that they are using and not Georgia Oil and Gas Ltd??
Chesh - """and as for time scales, well Hepseal will keep you updated on dem fosho,"""
You are joking I take it - NOBODY knows the time scales at the moment, probably not even Block energy - negotiations and agreements take as long as they take - but I do now agree with you on that other share.
OK - Fair enough.
For the last three years Block have issued Quarterly Operation Updates regular as clockwork up until Q3 last year and then in December PH said these would cease so no Q4 update.
So if a H2 report is due as you say then it should be quite easy to calculate the production and revenue figures for Q4 by subtracting the Q3 Operation update figures already published.
Greybadger - "AIM rules require update to the end of December must be released before the end of March??"
In 2023 Audited Results were not issued until 11th May
In 2022 Audited Results were not issued until 1st July