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Agreed but have four projects and a CCS, the gas is worth 1.65bn$ and god knows what the CCS is worth.
Im sure 88e etc seems far more attractive than little ole Block with 725m shares and four huge projects and a carbon offset play.
The company has far better foundations than it had at the last huge rise to 17pence. The company has imo been expertly led and again just my opinion is on the verge of something transformational.
It would be great if the CCS became project 5, The MoU being non binding suggest to me that others are interested in exploring the possibilities.
From the announcement:-
'This marks another important step towards Indorama long-term commitment to the Fertiliser sector. We have plans to inject further capital in coming years to ensure the modernisation of RA’s plant and expand its production capacity.'
I didn’t realise Indo only bought Rustavi Azot last year
https://www.indorama.com/news/60
https://forbes.ge/en/rustavis-azoti-gaiqhida/
This is the English language version of the report, the last paragraph explains why this report was recently updated. I didn’t realize the author of the report is the current Head of Strategic Planning at the GOGC –
“The revised edition of this publication was precipitated by the impact that the COVID-19 pandemic and the Russian-Ukrainian war had on global economics, including the repositioning of players in the oil and gas market. More specifically, the necessity of fundamental restructuring of the trends dominant for the last two or three decades in supplying international markets with fossil fuels, which highlighted maximum financial profit while ignoring fundamental principles of preservation of the environment and energy security.”
https://erekle.uk/teimuraz-gochitashvili/oil-and-gas-2024.html?fbclid=IwZXh0bgNhZW0CMTAAAR2L-AwNGuKdnoparBCCMy3CikhKLoRsoJC_nMBay9DY7iCqS7AR9K5yOkM_aem_AWK6YjcUE1Z_lgg1qXSL7wEVaKOGzEv0fz83w3DW_TjpIZGf5ZOmkOQcch6hK1tokoNhz0hq7WwfFUQPp6jxpWTF
About the author –
https://www.linkedin.com/in/teimuraz-gochitashvili-8156b034/
For those having a look at Block this is worth a glance over, much of it is in Georgian but there's an English summary.
P415 is interesting – “In recent years, prospecting works to discover new deposits have been relatively active. Plans for the coming years envisage a significant increase in investments in oil exploration and production. In particular, it is planned to promote the activation of geological exploration works in the oil and gas prospective areas of the country, as well as the increase of the forecast annual total production. The main focus of activity has been shifted to the intensive production of field seismic exploration and exploratory drilling, including the discovery of new fields in the offshore areas of the Black Sea. Also, innovative technologies for oil extraction are being widely introduced on existing fields, which has already been reflected in a certain increase in extraction, as well as production of oil products, in recent years (see figure).546
In total, approximately 28.17 million tons of oil have been extracted in Georgia since the start of production until 2023.
The analysis of historical indicators of natural gas (free and associated) extraction shows that the peak of extraction (about 332 million m3 in 1983) coincided with the period of intensive oil extraction, however, the subsequent decrease in oil extraction caused a significant decrease in associated (associated) gas. In the last period, the total gas extraction indicators have been steadily changing within the range of 13-18 million cubic meters.”
This snippet caught my attention making me assume if the state working on block XII using Blocks drilling team?Block is mentioned directly on p416, probably elsewhere as well. Which translates to the following:-
Figure 5.4. Oil and gas extraction in Georgia, 1930-2023.
Exploration works for new deposits are relatively active
For the purpose of discovery in recent years. With plans for the next few years
A significant increase in investments in oil exploration is envisaged.
in prospecting and mining operations. In particular, geological research is planned
Promotion of work activation in the oil and gas perspective of the country
in the territories, as well as the growth of the forecast annual total production.
The main focus of activity has been shifted to intensive field seismic search
on production and exploratory drilling, including in the offshore areas of the Black Sea
in order to discover new deposits.
https://erekle.uk/teimuraz-gochitashvili/oil-and-gas-production-transportation-processing-and-use/full-text.pdf
I'm with Grower on this, there's been some serious buying over the last couple of weeks and again many will have done little research. This is due news but until then whatever is happening will continue but I do get the impression that there is a shrinking supply of shares so the weak, those punting and whatever the reasons will hopefully be left with whatever position they're in when news drops.
Morning all, this rise is a market correction as Block has been trading well below Cap, once news drops on project 3 and the CCS which is potentially behemoth this will rerate.
I agree with many on here this has the potential to 100 bag.
GLA Now is definitely the time.
I was invested here, Frontera and Block. Frontera is where it's at and seems a right off but following that debacle I bailed here as I just felt it was going the wrong way. Block didn't do so well in its first year but its transformed itself into what it is today and after getting spiked I did average down hard and am now sat on a half decent profit. For those liking oil and gas explorers and with what Block have in the pipeline some research into their four projects and CCS could rekindle faith in a sea of poorly run companies.
Thanks for taking the time to reply Shed, I've posted as I see this and the numbers for CCS at $3 dollars a ton I feel are realistic and achievable. What value do you put to it?
Thanks for raising your points as a potential debate because kicking this around can only be good.
I thought I’d drop some of my research notes, Block have significant acreage in Georgia onshore and has four high impact projects running virtually concurrently. The main project is Project 3 however an overview of the four projects are summarised in the March presentation
https://www.blockenergy.co.uk/wp-content/uploads/2024/03/corporate_presentation_2024.pdf
And
https://www.blockenergy.co.uk/wp-content/uploads/2023/12/black_sea_dec_2023.pdf
A recent addition is Blocks Carbon Capture and storage which is in addition to the other four projects. The numbers on this alone for a minimal net profit of $3 per tonnes have the sp based on their lowball project is 84pence a share.
There’s an interesting video here
https://vimeo.com/748840353
With a more in depth presentation here.
https://www.blockenergy.co.uk/wp-content/uploads/2024/01/co2_storage_and_low_carbon_gas_opportunities_georgia_dec_23.pdf
I'd agree true value for us as shareholders in this whole process is to be a partner with a farm in company that takes control on a farm in and we sit and take profit.
Either way if there was a vote I doubt we would have much of a say looking at the significant shareholder list.