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Don't know them but they have a take on yesterdays news at least..
Block Energy Plc (BLOE.L) Announced, in its operations update, that the company is on track for near-term commencement of phase one of three phase work programme focussed on scaling up production to 900 barrels of oil per day (bopd) within 18-24 months via a fully funded, low-cost low- risk workover and side-track programme of existing wells across licence base.
It has hired a number of highly experienced geologists and geophysicists as work programmes are ramped up on the ground in Georgia.
A full time HSE manager has also been hired to start implementing the company's policies and procedures related to the safety of its operations and the protection of the local environment in Georgia.
Meanwhile, the company is targeting to commence drilling the first high impact horizontal side-track in the West Rustavi permit during Q4 2018 and to be completed and on production by the end of this year.
It is forecasting initial production from this well to be approximately 300bbls/d and has identified four other existing wells in the permit that can be re-entered and side-tracked in a similar manner.
Once drilling has commenced at West Rustavi, the company's working interest will increase from 25% to 50%.

Seems if they're targeting 300BPD from the first Rustavi sidetrack by EOY and then are planning 4 more 900BPD may come quicker than they've estimated?
Know that sounds rampy just stands out that they give low predictions for 12-24 months work so 300BPD from the first of five workovers seems impressive and a little out of kilter.

https://www.voxmarkets.co.uk/members/guardianstockbrokers/

Well I can now see one extra reason for the recent sp weakness. Management wanting cheap options.
Fully approve of the fact that full vesting rules entail them ramping the shareprice 50% and holding it there though a little higher than 12p would have been even better imo.

Beginning to get interesting here. Maybe take the end of rig negotiations and start of the first three well workovers before the market picks up on it?

Yes panics the worst reaction of all with these aim shares. Great to see the recovery, 50dsma held well. Got to get past the 200 at 8.6 or thereabouts to be bullish imho but an excellent day for holders so far.

Yes can just picture the bergen guys banging their heads on the wall and asking "don't they know anything? We've TR1'd that means we've stopped selling and still they're dumping."

Perhaps yes jimi but equally it would be a pretty poor business plan for them to imagine they could just sell all their shares at once and at a good price.
They could well be holding for better times too which maybe why the co. turned down offers from other financiers including their own broker...

"The Board gave careful consideration to several options proposed by various firms including the Company's Broker.



Our institutional financing partner understood the value of Angus Energy's Balcombe acquisition and the cash contribution of our current production levels, demonstrate our ability to not only produce oil efficiently but create long term value for shareholders. This is demonstrable given the Investor's ability and incentive to participate in equity growth.

Well thats the 50dsma held - on very low volume mind. Back to 8p on high volume then?

With respect JB everyone thats claimed to be an expert and instructs everyone to expect a TR1 on any given date has proven to be wrong here.
Still think they may have finished for a while myself hence yesterdays TR1 (and lenis tweet) but am happy to admit I'm wrong if theres heavy volume and shenanigans look to be playing out.

Or back up to disappoint the sellers and get a better level for bergen later on. Market like to move up after TR1's are issued so care needed for bears too imo.

So basically you were just making stuff up. Basically all they've got to do is check the gas pipes are tightened up and the sandbags are on site..
Civil works LOL.

Agree and though it may be annoying to the crew on the ground all they're really saying is you're not allowed to do anything that might risk blowing the nimbies up!

Blue might be a push agree with the capt we may need patience but if bergen have finished selling for a while then stranger things have happened and the ,market does like to side swipe sellers as well as buyers.

I can't find the SCC "setback" capt? Can see normal procedure with the conditions. ie..
Subject to five conditions:

*prevent pollution from spills
*detect and repair leaks of fugitive emissions from equipment
*calculate emissions from a flare which will burn waste gas
*recover vapour released during storing, transporting or handling of hydrocarbons
*include a pollution incident plan

But no setback? Would you be kind enough to point out the setback for us slower ones.
Thanks and appreciated.

More important is to remember who was talking carp about bergen having sold out imo.
Do they ever hold (asking as they've TR1'd)?

Its not in their latest corporate presentation just the 200mmbo play it opens up is mentioned.
Hell of a play to go for with SL.
http://www.petromatadgroup.com/wp-content/uploads/2018/06/Company-presentation-June-2018-final.pdf

Think you should go digging captain if you have the time. This 20% is beginning to sound like its come about through Chinese whispers.

Maybe try smaller orders? Just managed a small order for 9.14. Seems to be testing support on the 50dsma at the mo.

Thanks both for the replies. Think its news from Egypt that will burn the shorts. I know it hasn't been reported on for a while but thats the nature of arbitration and if both sides want an amicable agreement to get producing again...

53% of 68BPD doesn't sound that significant. Take it thats to be added to Pine Mills 155BPD though which is 100% NTOG or am I reading their production updates erroneously?

Won't sell but will be glad when the shenanigans are over. So much promise. D.L's other tweet..

David Lenigas
‏

@DavidLenigas
5m5 minutes ago
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I’m not disclosing anything like that on twitter. All I will tell is I wanted in to Lidsey and Brockham for the Kimmeridge oil, which Nutech calculated was the main zone for over 100 billion barrels oil in place for the Weald Basin as a whole.

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