Member Info for Hepseal

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Not all of the crude oil produced by the Group belongs to the Group, because, according to the terms of the Production Sharing Contract for each licence block, the state of Georgia is entitled to a share of the produced oil. However, the crude oil inventory is 100% owned by the Group.

Regards
William

William McAvock
Chief Financial Officer
Block Energy plc
3rd Floor, Lansdowne House, 57 Berkeley Square, London W1J 6ER

Holyroller - Your in depth posts / analysis on this board is very much appreciated.
Just one small point re your revenue figures, Block don't get to sell all the oil that they produce, eg - line from Q4 Operations Update RNS: "During Q4, gross production (including the state of Georgia's share)", etc, etc
Looking forward to update on next well + confirmation of flow rates from JKT-01Z

Geowiz - Repeating the false mantra!!

Geowiz - THE COMPANY IS NOW CASH FLOW POSITIVE.

Bobby - Hope so, certainly been a little bit more perky this week.
Chesh - Yep, that's them.

BB - "Bring in the jocks for me as they are money minded and focused."
Have you seen the Scirrocco share price lately??
The way things are at the moment I would rather be invested in BLOE than SCIR.

And someone grabbed a few on Tuesday, i.e. 1,175,715 Buy*

On the subject of Revenue:
MOS gave a Trading Update on 1st December, 2021
MOS have an Investor Seminar Tuesday 1st March at 18.30
I have a hunch there could be a Trading Update on 1st March - just a hunch.

That could be his wife Marina!!

Steve - Have you not considered that there might be a flaw in your strategy by announcing your target to the world - or perhaps your target is actually a different price??

Holyroller - Very good post indeed and I do not disagree with your detailed analysis of the reasons behind the drop in the share price over the last few weeks.
My somewhat generalised version of why the share price is where it is was actually relating to the much bigger drop over a much longer period of time, i.e. the last two years.

Big Boffer - You imply Block have had successful wells and loads of revenue, but that is exactly the point, they have NOT had particularly successful wells and loads of revenue UP UNTIL NOW and that together with lack of confidence IMO is the fundamental reason for the current share price. Initial flow rates from JKT-01Z suggests that all this is about to change and when the JKT-01Z flow rates are added to the previous base production figures we now do have a some decent revenue and a business that is cash flow positive. Anyway, I am optimistic that there is good news on the horizon. GLA

Tony - Great minds!! - That is what I was thinking.

Well, someone has just spent £14k

15-Feb-22 15:10:45 1.19 1,175,715 Buy* 1.05 1.20 13.99k

Fair enough Steve - I won't be carrying out any further forensic examination's on your dealings!!

Twitter:
#SNT features on National Korean TV during our site visit to City Oil Field and announced as an important partner - we have a deal to take this technically superior and economically compelling plastic recycling solution to a global market

Well, assuming Mr Chuckle bought this morning there were only two trades prior to 8.23am, so it would have been either 100,000 or 750,000

BBC:
We've just heard that some Russian troops are being moved away from the Ukraine border and after days of dire warnings of an imminent invasion, markets have calmed in response to the news.

A good post Tony and I agree - after the last RNS there was a PH interview with Zak Mir which was both positive but measured and many on this board thought it was a good interview - ok, for historical reasons the market is perhaps understandably not totally convinced yet, but as you say, as long as BLOE can build on the last news with sustained flow rates and another successful side track then the share price will move north.

Q1 Operation Update due around 7th April is the important one for me as this will detail increased production and revenue figures for Q1 including the oil/gas from JKT-01Z.