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The next RNS is vital to start getting the LTH out of paper losses . Also if possitive it will start to restore lost confidences
But it is only well 2 of the funded programe.
The real reward will be when we start selling the gas and oil.
Early days on the main program
Anything other than a repeat on 16aZ will see a rerate.
Fingers crossed for a good one .
Boff i like to think we will reach those hights and will continual to hold but your constants posts over the last six months do not reflect the real world we live in .
Bill is **** off like most of us and his view reflects the point that most long term investers are sitting on big paper losses and some had to take real losses .
We are half the placement price and I'm down 25k .
That's the real world mate.
To date we had hype about 16aZ and some RNS about how bloe are moving forward. A few spikes were created and bad news sent it to stupid levels .
The bad news was on one well and was about the water getting in to the oil. This well also has gas that I believe is soon to be connected up and sold
I am interested to see what happens to the share value when the positive news comes in . It's why I hold and why I buy on the dips. For me this share is in its early days and fully expect a rerate over the next few RNS s
If one well can creat such spikes on just oil what will multiple wells do with gas and oil .
Bit rampy today but I do think this is a good long term investment .
But DYOR
Everyone is waiting on news of how many bopd and gas output.
Bloe are not incompetent nor are they crooks . They messed up on 16aZ and have added water prevention on the slotted liner that will swell and block off water .
However if they have ended up in a bad spot than that's the risk we and they take.
But the gas and oil is there as is the water .
It's a numbers game with the more they search then the better the odds .
I will in fact be adding more based on my gut feeling that this will at some point go very blue.
This one is a high risk high loss/reward
Reply from Justin about various things . No real answers but will post reply .
Hi Rob
Thanks for your note, and for attending our AGM - I'm glad you found it informative and had an opportunity to have a good chat with the directors.
I wasn't privy to the conversation you had with Paul et al, but everything is on track as per our RNS announcing the gas sales agreement:
https://polaris.brighterir.com/public/block_energy/news/rns/story/wvlmdzr
As we state there we look forward to providing guidance on West Rustavi gas and oil production as soon as we're able.
The FAQs is still very much on the agenda, as promised. In the meantime I'd refer you to the very full information we've given about our operations, including the ongoing work at WR-16aZ, in our last few market updates.
Kind regards,
Justin