Member Info for Mike31

sillybilly, you become so obsessed with me now aay

If I were you I would keep quiet and save some face, since you had been calling the sp movement wrong for a dozens of times now

AJames, are you sure you're not panicking?

Unlike the past contributions from you, your last few posts are starting to lose the plot. Rather than focusing on company discussions, its all becoming rather personal with accusations and verbal languages

Desperate situations...

but I think we all would like the topics to be kept about the company!

don't be fooled. mms creating an illusion to make it look like the rise is over. forcing weak hands to sell. more rises to come imo

All my post are facts.
The sp has drifted since the 17p days is also a fact
This is looking very bearish and all is reflected in the sp
Nothing will bring back positive sentiment until official clarification from the company but that ain't happening anytime soon

Clearly, there has been a huge drop-off in production rate between 17 April to 26 July.

It appears from 26 July to 29 August, there had been other issues with the Well. Hence, a consultant had been hired. The company shifted focus to Well38 without mentioning further details on 16az. The BOD may be working towards recovering previously lost rates, but how consistent and to up it to what level of output is anybody's guess.

To assume 16az had been gradually increasing without showing the slightest concern is in my honest opinion, naive

Hepseal,

RNS 17 April States:
Block Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to announce that well 16aZ ('the well' or '16aZ') at its West Rustavi field ('West Rustavi') continues to produce, as the limits of crude oil storage allow, at rates consistent with the average test flow rate of 1,100 bbl/d ('barrels per day')

RNS on 26 July states:
Production resumed on 11 July and since testing began the Well has produced at an average rate of approximately 360 boepd. The Company is adopting a prudent approach, gradually increasing production to establish a sustainable flow rate as the Well cleans up.

RNS on 29 August states:
The Company will draw on the valuable experience gathered from the drilling of well 16aZ to optimise the completion design for well 38Z

Conclusion: according to your theory of putting your faith in what the company tells you. If I were to travel back to 17 April, writing is in black and white '16az at rates consistent with the average test flow rate of 1,100 bbl/d.' Why is it now 360 boepd?

You also said:
'Both PH and PD in their interviews in August reiterated that they were gradually increasing flow rates.' Well, PH also gave an expectation of 1100boed for 16az in another video interview. PH also said he aim to bring 3 Wells on line by year end. Time is running tight, would you agree?

Maladoni. Your quote 'We know this has reached 300' how do you know? Please enlighten me

The Well is said to be in clean up phrase which takes 90-120 days to complete. Figures can rise as well as drop in the process. A consultant has been hired to fix current circumstances. Thus, the company quoted in the lastest RNS 16az will be a 'learning curve' for the rest of the programme

Ajames: At the end of the day, whatever calculations you guys throw out is invalid. We have not had any confirmation on the progress of the wells, there had been no announcement of flow rates.

It is very easy to base your profit assumptions using top end of the expected production figures given during 'video interviews' at early stages of the campaign.

Please do not forget 16az last heard did not produce half the quoted figure during those 'video interviews.' Let alone there is clearly problems with the well, and it was reported in the recent RNS.

Rather than debating how much the company will earn, the debate should be whether the well will be online as originally planned. It is evident there has been a news blackout for well 16az. Whether the BOD are being conservative, or could there be a bigger issue remains unknown. What I do know is the newsflow has been really inconsistent!

great discussions ?

Like what?

Comments like '20p by Friday' based on no facts ?

Or 'Block will make '18 million a year' based on unrealistic sums and without tax and fees factored in?

Share price looking bullish. Bodes well for tomorrow

bigbench, your dream came true

https://www.google.com/search?q=oily+mongolian+yak&client=ms-android-vivo&prmd=ivsn&source=lnms&tbm=isch&sa=X&ved=2ahUKEwiDkIGWvLfkAhVBsXEKHQ0qD_8Q_AUoAXoECBAQAQ&biw=360&bih=630#imgrc=B5P7teRrcNJpnM

The Mongolian Yak herder can free them into the wild and save some lives after

Thank you sellers. Now next leg up.

I dont see where there is any surprise in the drop. I had been expecting it to happen.
No news, no flow rates, no FAQ, no clarifications
The sp isn't gonna magically shoot to 10p on nothing

Matd has the qualities to ascend to a mid-tier company

Really sad, sad not because we have a bunch of clowns posting unfounded negative comments on our board.

Rather, its their narrow mind failing to spot Matd as a massively under-rated money making opportunity in its current form.

Give it a few days and the LTHs should be rewarded handsomely. As for THOSE guys, they will be left behind, back to their share hopping in the aim casino

Absolutely agree Rolyclan

Nobody would invest 65million if they wasnt quite sure of the potential there is at Haverion. 65million is a lot of money that could have been used by Newcrest towards new acquisitions, or undergone exploration is a whole new different area, but they chose to do a JV with us.
Its totally business for these guys, they must have seen something very positive

Even if these guys are lucky enough to pull it off, it still only a 60/40 profit split with the Georgian Government

The only logic there is dusterhater wanting the sp down as much as possible, so he can buy in on the day of news announcing oil show

nomura, even Malcy said its quite rightly suspicious (referring to 16az)