Member Info for MCNol

Let’s do our best to raise its profile here by letting people who read this BB know what we have. Sentiment is important and PI interest helps get the various commentators to notice.

I could not give a fig what any ‘naysayers’ think or do Pete. I am here to make money.

It is looking good today, glad I bought into this.

It is important to pay attention to detail, that how you make smart and informed decisions.

Application modified ….

Does this mean we are at rubber stamp stage? (just need rubber stamp before they put that on the portal).

It certainly looks like it is being actively managed which can only be a good thing.

ML/01132/2025 now shows ‘Application modified’

Thoughts?

Thats odd though, it stayed at 20/02/2025 from that date until this afternoon and has now started changing?

I looked at the start of last week and there was nothing other than the PL. I looked last Thursday and saw the ML update. As I have mentioned previously, I did not post it here as I thought it would be misconstrued (and it was initially).

Thats half the fun of it, people making money by working together and sharing information.

I might of surprised them a little with my enthusiasm for this stock.

Thats what we all said earlier in the week, it is nice to have that confirmed. Thanks Gogs, keep up the good work!

Gogs, is that the application date from the portal. (date added), or the actual application date?

Mine is not showing yet, so we will see some delayed.

I will take a 4.9p re-rate any day from these levels. I said I would only have 1 'hobby stock' but it looks like I have a second. Glad that RR gave me a nice 20% today which I will now put here.

The fee is worth every penny in my view. You make it back 100 times over on a good investment.

A successful farm out, in our eyes, would provide the funding to deliver commercial gas sales

from an Early Production Facility (EPF). Such a facility would likely be capable of delivering

around 20 mmscf/d (c.3,300 boepd), equivalent to almost US$40m of annual revenue net to

the contractor at current domestic prices. Dependent on how much of the asset Block would

have to farm down, this is likely to increase current sales by a number of factors, and given the

fixed overheads are unlikely to increase significantly, should have an even greater impact on

EBITDA. On a 60% EBITDA margin, which would be a reasonable ‘ballpark’ estimate, an EPF

could generate US$24m net to the contractor, and making a simple assumption that Block gives

up 50% of the asset, this would mean an incremental US$12m of EBITDA net to Block.

Arguably more significantly, a successful EPS will significantly de-risk the 2.7 Tcf of discovered

2C resources, which Block believes could support annual production of as much as 500 mmscf/d

(>80 kboepd). This has an unrisked NPV10 of US$1,658m (135p/shr), and therefore derisking

could have a significant impact on Block’s share price, even with heavy discounting.

Directors buying and holding is always a good sign and I see BLOE have had a bit of that this month.

Our CEO looking great in the sunshine. Nice to see some PR going on, she obviously wanted to be there for this important weekend.

Chesh C&P as requested over the other side.

Over the course of 2025, on the assumption that oil averages US$74/bbl (in line with the

forward strip), we estimate that Block will generate net operating cash flow of US$5.0m. Along

with existing resources, this covers 2025 projected capex spend of US$3.3m (predominantly

the Project I drilling programme), and repays the outstanding US$2m loan facility which is due

in February 2026. Assuming the drilling programme continues into 2026, we expect production to average 841 boepd over the course of next year. This generates some US$6.4m of net operating cash flow (based on strip oil prices of US$71/bbl). Block’s share price of 0.73p/shr now values the company on an Enterprise Value of just US$7m, equivalent to a forward FY25EV/EBITDA multiple of just 1.4x, falling to around 0.9x in FY26