Opinions please . Has this share passed its lowest point and have they the finance to sit this out ? Oil prices will go up in time and gas will also be sold with some amount of oil. Nothing has changed in what block are doing . A combination of many things have undone bloes share value . That to me is the past. I am looking at one years time at least. Thoughts please on future . Thanks
Hi guys been many months since I posted . Took the remaining of my money out and was not happy. However i will still watch this share . I think a few months will have to pass but if it moves i will do small investments . Always felt it will one day come good but not yet . Good luck guys in all you do
Just hold and wait . So many games played but long term looks good. If bloe make a profit then the price will follow. Oil is flowing and will put money back into company . Gas is what its all about . Painful to watch but it will get there .
As a LTH all i want to see is a steady climb back to my 10.27 break even. We are now starting to have oil to sell and store in large enough quanity to give this share a little boost. Not to sure how far it will go short term but any gains are most welcome. The news on gas and other items should help to add to the share value. Once the gas get connected there should see a large rerate on share price. Its is a share that is going places and being a numbers game the multi well program will, given enough time, make us all a tidy sum But DYOR and just my take !
"We are glad to announce that our development programme is moving full-speed ahead on multiple fronts.
"Our extended production test of WR-38Z has allowed us to thoroughly evaluate the well's performance, and define what we consider to be stable production parameters. WR-38Z promises to be a pivotal well for Block. It has proven our capacity to produce oil and gas at a stable rate from the targeted Middle Eocene formation, and demonstrated the presence of commercial gas at West Rustavi, which our current CPR estimates has some 608 BCF of gross unrisked 2C contingent resources in a number of reservoirs including the Middle Eocene (Gustavson Associates: 1 January 2018). We are working with our Georgian partners to expedite the offtake and sale of gas from the Field. Our gas sales will help meet Georgia's strong demand for energy, to which we are already contributing through regular oil sales.
"We are also excited to announce commencement of operations on well WR-51Z, our third horizontal sidetrack within the past 12 months. We look forward to refining our strategy and programme in light of production at these three wells and the data gathered through our 3D seismic survey.
"Block is hitting the ground running as we enter 2020, implementing an ambitious programme made possible by the team's hard work and the excellent relationships we have developed with our Georgian partners at the local and national levels. Furthermore, we welcome the opportunity the Black Sea exploration tender offers for the further development of Georgia's oil and gas industry. We keenly anticipate updating our shareholders on our progress."
They will have a reason why they are selling and PR is once again not thought out. Without a positive RNS this will add to the jitters and wont help. Fine if news is mon and positive, but if not then negitiviy will creap in.
I Have waited for news and will continual to wait. Am a long term invester i will have a better understanding of bloe when they issue RNS informing us with facts and figurs how their program is doing. Until then there is nothing to do. Its a long wait but like many I believe that there is a good chance of some excilent returns. Good luck to you all !
Back from italian trip full of pasta and wine! Almost the new year and the start of the bloe news. We all know that this share needed time Sea7 summed up how to deal . Thank you as always for your honest thoughts . My average is 11.30 and at the current price i'm about 28k down . On some shares i would of cut and run a long time ago but not this one as it is a two year min hold. With a blink of an ( 16aZ hype) eye this share went to 17. That was on one well and oil only. Block Energy is moving forward with its RNS documented multi well programe. Their programe is documented for all to read. It's a numbers game with many stabs at the gas and oil cherry!!lola_b18xo Looking good as a long term hold
I think most people have accepted that the real big news will not be to January . So funds are removed or not invested . I have switched off now and wish everyone an enjoyable break and look forward to.the new year's RNS
This was a useful and important update. It gives us information about 3 wells and about the seismic work We have all been wanting an update on Block Energy and should be satisfied, short term, with the RNS. We now know that January will be the month when the real market moving RNS is likely to come. It has stopped the waiting game for the Xmas period. And think it unlikely that we will get any more news this year. Now I pack my bags next week and switch off for a few weeks .
PH writes: We're pleased to confirm that operations at WR-38Z continue to proceed smoothly, with the well now flowing and ready for producrion testing. We look forward to updating the market on the results from the multi-rate production test. Furthermore, we are excited to have completed our 3D seismic acquisition and eagerly await the results of the processed data set, which will enhance our understanding of the reservoirs". He would not write that if well was a dud . So looking good and seismic will make it easier to find that sweet spot .
Next well ready and our multiwell funded programe move forward .
16aZ shut it till Jan . We can only hope that they can fix the water problem as the oil is certainly there.
All in all a very positive update.
New year will start to see the true worth of bloe. The gas should be connected up and ready to sell. Hope this finally starts to move the share value up.