Member Info for Madmanrob

What bloe is doing is fully documented and
an RNS is a legal document. So I believe what they say. The combination of the wells will produce large amounts of oil and gas. And if you look at lowest and highest figures you will understand why the LTH stay. The share price has crashed on the expectations of one well ,16az . But that well is still producing 3 mil per year. I think it is crazy that people can't see the potential.

Yep, 16az oil is being stored so we can sell at a better rate to the international market and the other wells are producing and being sold. Forget everything else as this is where we are right now.

Plus fully funded program that will add to the profits.

Long term looks good .

Interesting that that PH is not doing the interview . 16az has been producing and it is slowly increasing. Oil is being stored . They are getting additional specialise to look at 16az. And confirmation of what they are currently doing and about to do. No news on how much oil or gas deal. For me the important thing is : 16az was testing at 300bopd. Chairman says it it increasing as they stabilise it. What that means to me is that 300bopd and above oil is being stored. bloe is earning 3 mil a year . And more wells to follow. So I am happy as a long term holder. But fully aware that things will take time

It is clear to me that 16az has given them problems. By issuing an RNS that tells you that they will soon be drilling another well only tells us something we already knew. And to add a FRQ they are showing that the shareholders are not understanding what is going on. I have a lot of money invested here and am showing a big loss. However I now stand back and look at my research and Block Energys documented program of works. We are drilling into an area that historically produced oil and showed gas potential. We are now using modern technology to remove the oil and now gas is a viable asset and will show a good return.
What ever your feeling about what has happen I will point out that 16az is adding money to the company and each new well will also add to the balance sheet. We will also be using seismic equipment to search for sweet spots on our 100% owned lease. This work is fully funded and our payment to the Georgian government allows for us to recipe our cost to date . We also have GOG as a shareholder. If you work on 300bopd you will see a profit of 3mil on just the oil. We have another 4 wells that will each produce oil and in some cases gas. I see no point in selling based on the maths. To me I expect a large return over time. My opinion is yes, challenge bloe on what happened on last well but also look at the possibility of futures returns . DYOR and look at the sums v risk.

I use the filter as I am not interested in reading the same negative slant on every posting. Very interested to see posts challenging all aspects of bloe. It is healthy and gives a balanced to this BB. Unfortunately a lot of people are unable to write balanced comments. And no matter what this company do they will just look for negatives. There are people on this message page that get respect. That is because they will point out the good and bad things about bloe and will be factual and informative. My thanks to them as it helps with my investment decisions.
As for Block Energy. I think it will start to unfold in a good way over the next few months.

Agree with your summing up. Each new well takes time to set up and once working can take 90/120 day to know true flow of gas and oil. I guess that each well will take about 4 months before it's true flow rate is published. Time scale, April will give a strong indication of where we are . Happy to wait.
On filtering, I have added many as do not want to listen to the same school playground taunts.

It's holiday time and small traders don't want to buy in or leave their money in volitile markets. Also investers will want to put their money into other things like holidays . I have money coming in but will go on family things this month . Just my thought on a packed train!

Yep,time to wait!

Not enough information to convince the unsure traders . The reasearch and maths stack up but people are not buying and still selling at a loss. traders want to hear that 16az is doing 1000bopd and that the next one will do 1000bopd and the gas if flowing and bloe is filling up suitcases of money. They want to hear good news evey few days. Or maybe the buyers are just all on holiday. it will get better and reward all who wait.

I don't get how so many people need to sell. Things moving now yet share price goes down. Madness.
Crystal ball :3 months, 6 months, 1year?

The thought that comes to mind with this share is , waiting for the penny to drop . There are many investers that got spooked with loses and will pull out at the first chance. The forecast for bloe is amazing but we need to grow with real profits. Once that starts then the share will rise.

I think they had a problem at 16az with how-to deal will the combination of fluids coming out as Infrastructure and storage was not in place. This will not happening next well but clean up will still be 90/120 days

Why should there an update for 16az ? It is stated that wells take 90/120 to clean up etc . So what would you like an RNS to say?
Good that they will issue info on how oil production works as people have not done their research .

FAQs as well. That should give investers a better understanding of how things work .

Gentlemen, is there any chance of moving on from the bickering . If you can't get on or someones view upsets you then simpley filter them. I have done that and it works. I try not to block as I value all options and views. Thanks, Rob

I agree sea7. Blocks wealth will come from the combination of oil and gas from all the wells. 16az is just one part of the sum.

They pump everything up and transport it to a holding tank where the oil is separated from the water and the oil is sold on. I think I got that bit right !

In his interview he said that an average clean time on a well is 90/120 days and that you can not rush things. So it will be a while before we know what it will flow at . There is also gas at 16az. This well alone on just the oil is making 3mil a year. Each and every well will also have a clean up time. That is normal .
It is clear to me that this is very much a share that will grow over time . Each well will give different amounts of return. We are fully funded .
So dont expect lots of RNS ever few weeks. I dont get some peoples panic selling. But fully understand day trading. But for me the maths stack up . But of course DYOR

Bit confused as my shares are now blue. Ha ha, not use to that colour and a welcome 3.5k returning to my fund.

Confirms that things are moving along in the right direction. Water not a ptoblem. 16az slower that many wanted but is making money.