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Is the waiting game finally over . Been no point even looking at this share until drill result . F&F are simple doing what greedy men do. They only care about money for them and bloe is simple a way to legally milk a company dry
Proxy vote gives each individual member on here the right to have a say. The individuals involved in this intend to take over this company. Is that good or bad for us ? . History says F&F will strip this company . Opinions please.
We beat Germany last night for the first time in a tournament for ages . So a simple thing like bloe turning out shares blue will happen for sure ! Hangover but keeping the faith for block Energy!
It will reward those that wait!
What a pile of tosh Patricpillia !
How about giving an insite into how you have formed these, constant identical, post that you keep repeating .
Are you a paid deramper or unable to write anything other that garbage ....
Price is down and out crawl the creatures from school of dribble ! I really find the timing rather too coincidental and find the deramping on the day of good news...... interesting !
It is very odd that no matter what good news comes out the share price falls on the day of the new . Must be 4/5 times in a row .
Be interesting to see what happens if the well is good . If it falls on a successful well RNS news day , then I will be lost for words ....... but will find something to say !
Lots of interesting research on carbon capture . This is not necessarily the way block energy will go but I have posted it to give an indication of what it can be used for.
Potential New Uses for Old Gas Fields: Sequestration of Carbon Dioxide
Although the reality and significance of global warming remain controversial, advanced planning for all contingencies would be advantageous to operators. One approach under consideration by the U.S. Department of Energy and the international community that has the potential to reduce rate of increase of atmospheric carbon dioxide (CO2) concentrations is to capture CO2 from industrial point sources and inject it into the subsurface (geologic sequestration). This approach is especially attractive in cases where sequestration provides economic benefits (lower overall costs), such as accelerated gas production, increased ultimate recoveries, and new revenue streams for mature reservoirs.
Carbon sequestration with enhanced gas recovery accelerates production in mature gas reservoirs because CO2, which is denser than methane, settles at the gas-water interface and displaces remaining methane. Such displacement reenergizes the reservoir and increases ultimate recovery. Another approach, sequestration at the gas-oil contact, might accelerate production of a gas cap otherwise kept in place as pressure support for maximizing oil production. Both techniques are being evaluated through modeling of CO2 and CH4 flow and transport processes. Additionally, mature gas reservoirs ready for abandonment but with infrastructure still in place represent a high-volume, low-cost sequestration option, especially when they are situated near a CO2 source such as a fossil-fuel-burning power plant or chemical Plants
We have access to vast areas of old wells and existing well, this technology would be worth looking at.
· Baker Hughes has allocated additional engineers to assess and potentially develop geothermal, carbon capture, and hydrogen applications across the Samgori, Patardzeuli and West Rustavi fields.
The carbon capture is a very exciting direction . One of the reasons for predators share rise is carbon capture and now block have Baker Hughes on board . This is very exciting and green energy is the way this industry has to go .
Excellent!
Why sell ? Beyond me.
My average is just below 3p each bag nets me just under 10k
And the liklyhoods of a bag or two is high as long as you give it the correct amount of time. I will then top Slice and leave the free float as a long term punt.
Over hyping 16aZ, that had a water ingress problem and another bad well lead to a dissatisfied with Paul Hayward and this share . Over time and with covid shut down many were left with losses and many pulled out . That was the historic Block Energy. The placement kept the share low but did give Block additional money to expand .
However they have now turned the whole company round and if you read the lasted information you will see a share ready to reignight . The positive from the historical point of view is you have a share that is underpriced.
My personal opinion of course and I will continual to hold !
But read all the RNS's, blogs and research always.
Have reposted as I think its interesting to read as events unfold .
RE: Good Initiation note from Tennyson26 Feb 2021 16:42
OUT OF THE BLOCKS
Block Energy (BLOE LN) is a Georgian focused E&P, with a substantial portfolio of producing,
redevelopment and exploration opportunities. Following last year’s acquisition of
Schlumberger’s upstream assets in Georgia, Block now boasts some 66.5 mmbbls of 2P
reserves across seven oil and gas fields. Current production is in the order of c.900 boepd,
however is set to increase strongly with a fully funded development drilling campaign which
is due to commence in the coming weeks. With inexpensive new development wells,
workovers and infrastructure upgrades, the company sees a clear roadmap to 5,000 bopd and
beyond. Running parallel, Block plans to work up high impact appraisal opportunities,
including the Lower Eocene gas play which originally attracted Schlumberger to the region.
With our 7.9p/shr target price offering 155% upside, we initiate coverage with a BUY
recommendation.
Upcoming multi well drilling programme: Block expects the first of a minimum three well
development drilling programme to commence in early May. Each well is drilled close to
existing successful wells, and drilled based on the updated subsurface model, benefiting from
new 3D seismic and drilling data. As such the campaign, from a geological perspective, is low
risk. The wells are each targeting initial rates of c.500 bopd, costing c.US$3m per well, and on
an unrisked basis, are worth a combined c.11p/shr on our numbers.
Cash generative: Even without the impact of the new wells, at current production levels and
commodity prices Block is strongly cash flow positive, generating in the region of US$6m/yr
of free cash flow. Each new well producing 500 boepd would add an incremental c.US$3m
which, on top of existing free cash flow can be reinvested in new wells to grow production
organically. In a success case, our organic growth model estimates c.US$20m of EBITDA in
2022 rising to US$27m in 2023, with cash on the balance sheet growing above US$50m by the
end of 2023.
Good interview and results of next well to look forward to. We are using information gathered by recents survey to hopefully find a sweet spot . Producing oil and selling approximately every 3 months . Brent price is high. Also have gas sales. Funding in place . Healthy balance of money in bank.
The next few months will give a strong indication of where we are !
On Friday morning the share price rocketed and the RNS caused it to stop . We all know that there are many opportunities to send the share price racing ahead. If the share price was able to rise at such a fast pace on Friday without news then it will be interesting to see what happens when the news does arrive . It my humble opinion now would not be the best time to sell.
It is always the case that when we have a pull back or a fund raising RNS, we get the experts out telling us all the negatives that fill their lives.
The fund raise will add to the bigger overall health and growth potential.
This share as we all know is in it’s early days and well suited to a long term holder. As a long term holder the pull backs are a part of the general upward movement and has happened before and quickly returns to the upward trend .
Booby you don’t understand trading on Aim. You buy high and sell low . That way you keep the MMs in work and if your very good they will send you a present at Christmas! A mug with a photo of PH maybe !
Tbh I tend to agree with your view ! But until bloe light the fuse we will be left with this strange situation.
What was given away for free ? Do you mean the company that exchanged their assets for a holding in block Energy and in return bloe took on their staff with all the experience that comes with people that understand Georgia and the oil they had ? In my opinion that was a great deal .
Could you explain what you mean and base your personal views of facts rather than wild stab in the dark views . Have you ever read the RSNs ?