Member Info for mcadder

FYI that £137k trade at 16.50p was a delayed buy from yesterday and probably helped to mark the start of the rise so far. I would say that my theory of this being a case of FOMO or dare I say it another pump to get another placing away is more likely than an actual leak of news on Cuda or Nigeria.
Over in Canada only 23k shares have been traded and the bid and ask have ticked down to 0.31-0.33. You would expect the market there to be going ballistic if there was some kind of leak and it simply isn't happening.
Someone mentioned on the other bb that CUDA had opened their VDR today (virtual data room) which makes sense to allow copl or any other interested party to look at in the lead up to the sealed bid deadline of 4th Feb.
My worry is that if it becomes clear that there are other interested parties in Cuda that the money AM raised last time for Cuda might not be enough. This is the only reason I could think of that they may end up doing a placing again if they end up having to increase their bid for the asset. I hope I'm wrong.

No point getting excited about the Canadian market. Just 19k shares traded and the bid dropped to 0.31.
Don't expect any news re CUDA before mid Feb imo this is just the FOMO factor kicking in. And yes I hold shares here but I'm unwilling to put anymore money into this until I see something concrete on CUDA. What we don't need is another raise because they've suddenly decided that they need more money to purchase CUDA because there are other bidders out there....

And now come the sells - 125k at 18.82 for starters

"just me ramping wouldn't put price up... MARKET must be aware of some thing"

Funny that because usually every time you turn up the price spikes then drops back just before you disappear so there is definitely a degree of orchestrating going on

donotpanic is simply a trader, probably trying to make back their losses from syme, if you want to check their posting history. Numerous posts on this bb and another P&D in progress watch them disappear just before the price drops

"Why would you sell knowing whats due??"

Because the problem is no one knows what is actually going on with this share because of radio silence apart from the hint that everything is on hold till CUDA situation sorted (or not) which will be at least mid Feb

Well put it this way if they weren't happy with what's going on behind the scenes they wouldn't be agreeing to take shares as payment and of course they have a choice but good to see the company acting responsibly to conserve cash

Share Options and PDMR Dealing
Wed, 5th Jan 2022 09:51

RNS Number : 5086X
Block Energy PLC
05 January 2022

5 January 2022

Block Energy plc

Nice to see they are happy to take payment in shares instead of cash. Another positive signal imv

Same here Rocket :)

"Cant be much stock down here as commanding above the Ask now."

Sorry there is plenty of stock available given there are 194M shares in issue (19.4 pre consolidation) which is big even by PREM's standards

"Drilling operations are progressing well at JKT-01Z"

Rocket - RNS or no RNS that bit sounds pretty positive to me ;)))

Block Energy Plc
@BlockEnergyplc
Happy #NewYear2022 to everyone from #BLOE

Drilling operations are progressing well at JKT-01Z, and we look forward to providing more information next week...

Sounds good....

"did you look at the IPO and the promise it offered and how it has performed since?"

Timing as you know is everything bedex. I'll be looking to exit when this is back above the initial IPO price when it listed in 2018. All the signs are despite a tumultuous 12 months that it will.

Not nearly as binary as FRR hey bedex which hasn't been trading for 3 yrs and unlikely to be in another 3 yrs...

David Burton
@DavidBurton1971
2h ago
"Another popular name off to a good start for #2022NewYear is
@BlockEnergyplc
suggested to follow from the
@TMSreach Team"

“ #BLOE has a lot riding on success at JKT-01Z, but as at 30 September 2021 it still had $2.7m cash to support current operations..”

"Hopefully they’ll reach the bottom of the well before they reach the bottom of the remaining cash but it must be touch and go."

Sorry but it sounds like you either don't know what you're talking about or you just refuse to see what is written in black and white.....

"Preparatory operations, utilising the ZJ-40 drilling rig, for the JKT-01 sidetrack, the next well in the fully funded drilling campaign, are making good progress".....

......"Well JKT-01Z is a sidetrack from a vertical well originally drilled in 2011" .....

......"maximises the potential return of value to shareholders, by greatly reducing the drilling cost and time, while minimising execution risk.".....

....."production from this well would be quickly monetised and make a material addition to the Company's near and longer-term future."......

......"Commencing gas sales from well KRT-39 provides a dual benefit to the Company"......

......"delivers a further stream of revenue that can be reinvested into supporting operations and creating future value for shareholders. Furthermore, the infrastructure now in place will enable the rapid monetisation of any associated gas produced from the JKT-01 sidetrack."......

......Well JKT-01 side-track is fully-funded and on target to commence drilling in the second half of November"......

"the fully-funded side-track of JKT-01, is due to spud before the end of November."

They don't but to control a market if shares are tight in supply, or there is wind of something good in the pipeline or just simply demand for them they can make people have to pay premiums for shares even for tiny amounts which is what seems to be happening here....

Either way there are a lot watching this one from the sidelines with interest. This is showing signs of turning and we may see a build up prior to news of JKT-01Z which I'm expecting to be good

"Sentiment has shifted in the last week or so; most can see the first hints of daylight."

When I see the SP back up above 25p and staying above 25p then I will accept that sentiment has shifted but so far the decline has continued. Only real material news will change that.
It may be worth pointing out that even after the consolidation there are 194M shares - equivalent to 19.4 BILLION pre consolidation. That's A LOT of shares and it would take something pretty special to come out right now to get this back to 35-40p as there will be a huge churn on the shares and A LOT of people jumping to get out with possibly breakeven or small profit if they're lucky such is the disappointment since relist.

Twitter
David Burton Medium starMedium star
@DavidBurton1971
2h ago
Looking for some ideas in the Energy sector for #2022NewYear ??

Then maybe have a look into these ideas from
@TMSreach

#BLOE (Block Energy) #CHAR #ECHO #EDR #IGAS #JOG #LBE #NTOG #PXEN #UJO #WTE #ZPHR

total-market-solutions.com
12 Oil and Gas Companies to follow in 2022 - Total Market Solutions
https://t.co/MLYkC93c3K

Happy New year everyone. Now the well has been spudded all eyes on the results of those all important flow rates.