Member Info for Madmanrob

It does show the power of words and reading between the lines . Proofread will be a wise option.

I am buying shares to make money and all chat rooms like this can be useful. But I tend to switch off as lately it is just full of people showing off and talking about shares they do not own. They becomes like the school bully trying to run things down to deflect from the real world. Why would someone that so hate a share spend so much time talking about it. Once they get some people reacting they somehow seem to get a strange pleasure . It's very odd. They say they are entitled to say what they like and that is true but to say the same thing everyday with the same slant is.......?

Thank you. It makes sense to build the infrastructure first.

Good post Simon . Am I right in my interpretation that once the infrastructure and sales points are finished on 16az then any future well of gas and oil can be connected up without to much fuss ?

Wish I had money to invest at this price but it's all been invested here for a long time now! Great opportunity for day traders and anyone wishing to buy in and hold. The fall in price is due to PH over ramping, Miton sell off and RNS not giving the market what is wanted . But all the info is there on bloe and it makes good reading. Too much going on for it not to be worth staying with. Not sure how long this sell off will continual for but that is Aim. Until Block inform us of how 16az is doing and next spud date etc we will continual to be in the dark. It is interesting to see all the debates but opinions are just someone view unless it is quoting from past information or from reasearch.

In tooooooo deep now! So much to say but it would just turn into a rant
I believe in the future as oil and gas plus funding will return a profit but things out of my control as to sell would be madness
Like many people here I am locked in.
Not a nice feeling so get your finger put PH .

One thing for sure PH will have watched the shares drop as will the investors who put in 12mil.
I still think people overreacted but for all the reasons stated we are now at 8.55
It would make good business sense to clarify matters with the next RNS but to do that 16az needs to settle. No point in giving a vague accessement. We may have to wait for that and even moderate bopd report would help.

Hi AjamesW.2nd
Did your last incarnation die !
Good to see you back .

Back to back well programme. Biggest oil find in Georgia for 50 years.
Massive gas potential and fully funded 12mil to exploit the potential of Georgia.
What's not to like?
However ......
Bloe current share value 8.55
Blow year high value 17
50% Drop in value

At half time it is:
Expectations 1 reality 2

I was not happy with my shares being 10k down and feel that even though PH did not lie his overall body language and general demeanor was one of "16az is a show stopper", and on the back of a confirmation RNS to come, I held all shares and did not reduce my exposure. Even with Miton selling I kept my stake that was 6% up. I feel mugged off. My fault i know. But because of this I have lost a large amount of trust in the PR side of Block Energy. But it is only 1 well that has sputtered a bit and could improve as the weeks pass. Cold hard facts and less hype from now on.
So to move forward I will look to have RNS that detail bloes current position along with the revenue being produce. Spud dates and all things that move us forward will be of great interest but until opportunities are turned into hard cash. All interviews will be taken with caution and only proven fact will do.
I still believe that this will be a share that will reward the patience investor . I also think that gas will be the one that gets us the returns that we hope for. This is a 2 year hold for me.
But that's my take on things!

Bloe today :

Resumption of production at West Rustavi well 16aZ

Block is pleased to announce the resumption of production at well 16aZ at its flagship West Rustavi field. Production resumed on 11 July and since testing began the Well has produced at an average rate of approximately 360 boepd (295 bopd plus 390 Mcf/d) on varying choke sizes, with an average water cut of 25%, considered to be mainly returned drilling fluid.

Paul Haywood, Block Energy Chief Executive Officer, said: 'We are pleased to resume production at well 16aZ and look forward to establishing with due caution a stable production rate for our best performing well to date. The Well produced exceptional test rates earlier this year and offers excellent netbacks of $35/bbl at $65/bbl Brent.

'With the resumption of production at well 16aZ our fully-funded back-to-back multi-well drilling programme continues to gather momentum. We now keenly anticipate ramping up production with the sidetracking this summer of well 16aZ's neighbouring well, 38Z. Three of West Rustavi's other wells will also be sidetracked in the Middle Eocene structure, and two of them tested for their historic gas discoveries in the Lower Eocene. We also look forward to acquiring a 3D seismic survey that will identify optimal locations for new horizontal oil and gas wells across the Field and support an upgrade of the Company's CPR, prepared back in January 2018.'

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On the back of one interview a month back shares went up 28%. So with the lack of RNS PH does influence people take.

The was a long delay and we all waited for the amazing flow and raise in share price. Now 16az is just a small part of bloes wells
And the future looks good but the PR of flagship and best oil discovery for 50 years got people's expectations up , with thoughts of high profits and PH interviews sold this dream. Milton was not the cause as they had their own problems. When the PR does not match expertation then this happens. Does not matter if PH oversold or investors got carried away. The end result is the market did not like the RNS. But as we have seen before it take very little to send share up.

Bad news drives the value down. But the same is the reverse. But not any good news today. A storm but it will pass . Fundermetals still there and will rise on positive news. Will have to switch off and put my long term hat firmly on.

What is the implications of the last 2 RNS , if any

Yes people thrive on having their opinions posted . What this has to do with shares is unclear. Yes post your view once but after that it has nothing to do with Block Energy and turns into a daytime soap . We now need to move forward and would be interesting and informative to hear all views on the future based on facts and not agenders.

I am totally amazed how easy it is for news to sway people and make them sell or buy, often loosing large sums of money. I have watched the yo yo of bloe shares and wonder if people are mad. Such over reactions on 16az . My average is 12 and hold £32.500 . Am down a lot on paper and yes it is a nasty feeling. But would invest more money at this low price. If you put all of blocks's oil and gas assets together and take at a long term view you will see that we are now producing 350bopd or around that, plus 45bopd. This is just the start and 16az will increase in time. If you stop looking at day to day and look at well to well you will see the amount of oil sold per day will increase . We have the fully funded program in place to extract oil and gas from wells using modern technology. The gas is our biggie and will make bloe hugh profits.
To sum up Georgia has massive reserves and are very proactive in seeing Block Energy and GOG help fund their coffers, as reseasorces like this benefit their country. We will be extracting oil and gas from various wells. Some will have more than others but the sum will continual to add to our market value. 16az is now producing and unless I am missing something then that is making money !

All that matters in the long term is facts. Opinions are just someones view. The info found by doing your own research is very positive. Dome and gloom and over the top ramping is just part of share dealing. The market feeds on fear and bull s..t . But over time facts and performances will show a companies worth.

The flow of oil from 16az is not what we wanted and has been taken as a failure by some. But look at the facts:
16az is now making money and will be ramped up as they stabilise the well. This will to increase production and income .
4 back to back wells that will also make money .
Other small wells adding to the cash flow.
Over time we will also be drilling new wells.
Gas is there and will also add to profit. And that profit will be high
The 12mil raise was done to allow bloe to exploit all the riches in Georgia
We have 16az working and all other things like infrastructure and sales points are proceeding
We are all in bloe because of the long term growth and if you look at the whole project you can see the reasons we have invested. It is only a problem if you have to sell at a loss or believe that the company is failing.
The broker recommended 35p. That is a professional opinion. If I had spare cash I would invest at this stupidly low price. Look at facts and remember that 16az is producing oil to sell and this is making the company money.

As we are all talking crap I would like to say I got burnt today but not with shares and my Thai meal is amazing . What has that to do with bloe ? Well the true reply is a lot as I hope with this share I can enjoy more beers and curry and on the back of all to come, a nice sum of money . But then that's just my take !