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Wasn't the last RNS simply the lender putting in conversion notices that the co' couldn't do much about? That and Andrea paying off another chunk so more wouldn't be converted?
Didn't have an issue with it myself we all knew they had convertibles to sort .
Looking forward to the next ops update on C-37 myself, see if they up flow again.

Yes makes sense scoobyrex imo the UK market can be very negative esp on a Friday afternoon. BLOE was rejected by the 200dsma today as well interestingly enough. It marked the end of their strong run so will def be watching here.

Was a very good day here today and very kind of the mm's to drop it to 4.5p for a while so we could all get in!
Did bump up against both the declining 50dsma and 200dsma at the 6.7 peak and got rejected so will be a seller if thats' not taken out early doors (advfn charts) otherwise onwards and upwards.
Still can't believe they found oil. lol

While we're swinging them around. I left schooling early but not before receiving my B.S.C, S.S.C and CPT.
Knew I'd never top achieving all that at such an early age so became an AIM trader after that .
Never looked back.

Good answer Tiburn,
I was working on the statement in the half year report where they reported they were relying on the funds from the placing and snpc making further payments to be able to progress but they appear to be doing better than I knew.
They were quite positive in the half year they'd go ahead too so guess with the funding post drill arranged they do become a stronger investment case now.
No way of knowing what the market will do pre spud but guess that doesn't matter really (not at 3p) all that matter is they do go ahead.

Markets come to realise they haven't addressed how they're going to fund drilling the well in the first place imo.
Theres been no updates on payments from their partner for a while now and the funding they arranged has gone a bit awry with the sp so low.

Might see an increase soon anyway if JSB1989 is right.
They did say last RNS flow may improve again. Would be timely imo.

Why not? This agreement depends on AAOG producing enough oil to make the deal worthwhile not on due diligence on their technical abilities beforehand. If the well falls over again no offtake agreement and no loss to the oil traders.

The riverfort deal was inspired or would have been had the stock not been the target of a 10 day "expose" immediately after that absolutely tanked the price and destroyed any good sentiment that could have bult on the back of it.
Would like to see other AIM stocks do that type of placing but only if they have positive newsflow to come to support/lift the price and no haters.

Well they're buying at .42 in Oslo today so no big hit there.
https://www.oslobors.no/ob_eng/markedsaktivitet/#/details/ZENA-ME.MERK/overview

link saved for posterity

No more a fan of placements than anyone else but better to have it for M-247 than for buying another asset imo.
Good to see the drills lining up like this too.
Roll on C-30 then.

Reading that the initial flow rates were accurate imo which I found surprising and a little annoying after some of the things I've posted about P.H.
Don't know about the "careless handling" I'm not really qualified to comment but did note in one of the interviews they spoke of having a specialist firm coming in to look into it so take it its not something small oilers are set up to deal with on their own??
More interested in what it means for remedial work on 16az and new wells going forward than playing the blame game though Mike as if they do learn from this as stated by the co then 38 may be worth being in for at least (imo)

Thats a comforting thought about Sefton and the well. Wonder if they'll Utube it.

Shame about the issues but Makes 38 that bit more interesting imo and also means that PH's words weren't so far out as they've appeared (to me).
It would have taken a very high flow rate to cause these issues apparently and his predicting 700bopd from 16az ties in well with that thesis, certainly more plausible than they reported water as drilling fluids and oil via RNS.
Hope they're more successful with the cement work at 38 (and with remedial on 16az) that way we may get right back to those high flow rates that got everyone so excited early in the year.

2.30 into this interview the chairman states they're worried about bringing the well online too quickly and causing water ingress and damaging the reservoir. Thats water coning talk so reckon the initial flow rates weren't bull myself think they've just get issues with the high rate of flow..https://www.proactiveinvestors.co.uk/companies/news/900528/block-energy-chair-highlights--nice-niche-opportunity--for-the-company-900528.html

Yes that maybe right LB28 but its also possible they opened the well too quick and got water coning as per this interview..
https://www.proactiveinvestors.co.uk/companies/news/900273/block-energy-ceo-details-west-rustavi-production-as-they-focus-on-executing--plan-in-georgia-900273.html (1 min 30sec in)
Won't pretend I've got a total handle on what it is but it is possible the first RNS on flow levels was accurate imo hence their issues with it.
https://petrowiki.org/Water_and_gas_coning

Be nice if its work on 16az preventing them buying still.
When the first announced flow there it was sans water..
"It was opened on 26 March 2019 and, after a short period of swabbing, began flowing naturally, producing a combination of oil and returned drilling fluid at average rates of 1,500 bbl/d through a ¼ inch choke. During the initial six hour clean-up phase stable wellhead flowing pressures of 500 to 550 psig were observed."

The water ingress started after and its that that has them restricting flow of oil so much.
If they buy shares then suddenly find the fix then they'll really look bad.
" We've bought 1m shares each oh and by the way flows sorted and 16az's back to 700bopd. " lol

Will that be their total amount of shares across all three bourses? Doesn't sound excessive if so.

LOL@Mike.
At least our CEO doesn't pick his yearly drilling targets using a map of Mongolia, a blindfold and a handfull of pins.

That said hope it does complete this time just can't spin this as a positive.