Member Info for LGO-fan

great overview of the first 2 steps in the drilling campaign in the SWP

not so rosy after all...

As expected (see previous blog posts), reality hit Block Energy (BLOE) hard when the company announced the resumption of production at West Rustavi. For the first time production was stated in bopd (barrels of oil per day) rather than bbl/d (barrels per day) as previously. In fact, the well is only producing 295 bopd and the previous 1,100 bbl/d rate appears to have been mainly water. The company's paid PR was aggressively touting a thousand barrels of oil per day production to investors, who bought the shares up to 17.5p. Did BLOE never think they should correct that?

The sting is in the tail for BLOE though. Between April and July, it never reported that production had been suspended. Given the size of the company, the impact on revenue/cash flow and, especially in light of the £12 million equity issue, BLOE should have notified the market. Price sensitive information appears to have been deliberately withheld and the company is in for a difficult time with AIM Regulation. I suspect there are many more problems still hidden.

from oil man jim

understand your concern, but it may just be a case of wording, and more importantly what is allowed to be said by NOMAD. Again, it was always a given funding would be required and I expect an RNS in Aug latest

anyone is surprised about RNS and sp drop is quite amazing. It was always known they had cash until October, so equity raise this summer was always going to happen. This is annoying, always going to happen but doesn’t undo the great business progress in H1

Ors, until we see a sustainable sp growth well north of PQE’s abysmal lows, I wouldn’t quote a one off daily 10% growth as a piece of evidence to make your point. Let’s hope they do well, but let’s not kidd ourselves either

hard to argue that one

given the very active confetti machine at PQE, our shares and warrants over there dilute rather quickly!

Now +42.86% on Google Finance. You guys seeing the same number?

Adding the 30mn and 25mn trades....I keep seeing the same 55 mn trades re-appearing...am I dreaming this?

Interesting... I can't recall having seen this on the latest corporate presentation; or did I miss that?

hahaha, nothing miserable about you, mate!

Something does seem to happen....up +23.8% as I type...

I used to moan about Charlie too, but the last 6 months were good, so willing to give him the benefit of the doubt. The bigger issue is that it is hard to see where this company is going and so new potential investors see very little reason to jump on board, even at such low mcap. The CPR could be a catalyst but only if the report is good enough, and only if it is followed by an exciting plan.

Other means of financing are available, O Holy One.

Dross has no ulterior motives: Just like Jesus, he tries to save people. The man is Saint!

Totally agree. The reason for writing about PQE all the time is because there is not much to say about AOGL, until the finally announce what is company is aspiring to in the short to mid term.

well said! (tumble weed moment with the usual duo )

So you proclaim to be right? Never came across a man who claimed to be all knowing and right. Usually balance is required for that.

I would like to add, I am never completely negative or completely positive about CERP. Unlike some....

SWP. Always been here for what was called Cedros at the time. My healthy scepticism remains, but first phase of the SWP looked really interesting. It’s a first step, much more to come, but a precise and clear one nonetheless. It took longer than I hoped for, but now I saw the first step I am happy I had to wait.

He spoke about this and said it is an individual choice, but he indicated he will definitely buy shares as soon as he was allowed. I do expect the other members to follow the example.