Member Info for Piscator1

From the Advfn board:

“From a chart perspective this is now a true capitulation with the RSI down to 10: https://uk.advfn.com/cmn/chrt/chrt_wrap.php?epic=LSE%3ABLOE&name=&type=4&size=2&period=5&ind_type1=4&ind1_1=12&ind_type2=2&ind1_2=12&ind_type3=8

Looking back at the chart over the last 12 months the RSI has been here several times before but it and the share price has generally bounced back strongly from such lows. That is what I expect to happen when the CPR for the gas in project III is released, and I would not be at all surprised to see some build up in advance of that.”

Re: the Zambian cadastre this is good news: https://www.mmmd.gov.zm/?p=2654

From the Advfn board: The Skipper12 Dec '23 - 13:18 - 13072 of 13072 Edit

0 0 0

Thanks Spangle, I see the lemmings are still jumping off the cliff here and the market cap is now only £4.9m, compared with total assets of £30.62m at the end of last year. With the success of the project I wells, the recently completed CPR for Dido Lilo, and the much bigger one to come for project III by January 7th never has a company been so vulnerable to a hostile bid!

I wonder if that is something which might eventually emerge after the company addresses the Turkish conference next week.

From Advfn:

Leonard D11 Dec '23 - 16:04 - 13066 of 13066 Edit

0 0 0

Thanks Skipper, I’ve added some more tranches on the drop today as the market cap of only £5.1m is just ludicrous for a company which has grown its revenues in every year since 2018: hTTps://uk.advfn.com/stock-market/london/block-energy-BLOE/financials

and has massive gas resources ready to be exploited in its projects III and IV with a NPV of $63m.

It is presenting at a big oil and gas conference in Turkey next week and one would hope that speaking to a professional audience will attract a lot more interest for this off the radar stock. Interest that will ultimately lead to another farm out or possibly a buyout given its current valuation.

This is excellent news for shareholder as the CPR didn’t cost Block a penny yet it has helped secure the license for the long term when it would otherwise have expired next year and provides Block with a free carry from GOG Ltd. What’s not to like about that?

We also know that the CPR for project III should be delivered by the end of the month and reported to the market by January 7th. Unless the market cap increases significantly by then Block will be extremely vulnerable to a buy out by a much bigger fish imo, so a very strong hold for me but I’d certainly be a buyer here if I didn’t already have a decent position.

We don’t know for sure that they have stopped the project 1 drilling programme as the spudding of the next well was trailed in the last update so there is no need to go to the expense of putting out a RNS to announce it. In addition to the exchange fees it would involve fees for the broker, Nomad and PR team so why bother if you are in cash conservation mode?

Well my 75k top up this morning was bang on the mid price, so that’s the reference point for any other trades which show up.

Well no sign of that so far, but the market makers do have up to three days to report large trades and will often present them as sells once news has been released. Identifying the size of the trade beforehand would help us identify it properly as a buy when it appears. Otherwise your post might be treated with some suspicion.

First not ‘fist’!

Hepseal I think there are only two possible explanations for that. The fist is that supportive shareholders like Amati have put pressure on the board for a change in strategy because the success of the project I wells has done nothing for the market cap whereas a successful project III well could be transformational. The other explanation could be that they have not bothered to RNS the spudding of another project I well so as to surprise the shorters and doubters once the results are put out there.

I think it was inevitable that they would sell the stock they were issued on flotation to fund their own activities. However Block clearly beat them to it in acquiring the former Schlumberger block and operational assets, and if you can’t give Haywood credit for that why are you still here?

I doubt it has anything to do with FRR Anotherlambo. Its alter ego that used to infest the Advfn board is clearly a representative of the Scottish concert party who tried to replace the board here for their own nefarious purposes, but other significant shareholders like Amati were clearly having none of that.

I’m damned if I’m going to waste time going through my entire trading history on this stock for your benefit as it won’t change your sinister agenda one jot, but the advice I would give to others is to learn something about TA and buy when the RSI is in the low 40s or below and sell when it is the high 80s or 90s and you won’t go far wrong. I suspect too many of the moaners here did the opposite and that is why they lay all the blame on management rather than themselves.

Well I’ve taken profit on spikes and bought the lows Sarah, so it’s been reasonably rewarding to me, but the real rewards will come once that deep gas is monetised and that’s why I have been in buying mode since the recent interview.

As to knocking on Block’s door I live a very long way from London, so I must leave that to others.

Prax 14 are you one of Sarah’s alter egos? I see your profile was only created on 25th November. The interview confirmed that the focus is changing to exploiting the enormous gas resource in project III and I am sure that is something that is top of every significant shareholder’s wish list , so it is no surprise to me that someone with deep pockets decided to top up yesterday.

Madman-Rob, you really should read Tennyson’s research note which is now available to download from Block’s website. Then you will understand the new focus on the gas in project III. They see the completion of the revised CPR as a significant value catalyst and Paul Haywood confirmed in the interview that this should be released to the market no later than 7th January. That probably explains the large buy yesterday and I am sure there will be more in the days and weeks to come.

FWIW I have added another small tranche today, but along with the other trade it is shown as a sell thanks to the spread..

Rocklawn, the original interview was put up on 30th November in Georgian so was probably recorded the previous day imo. Good of the BMG platform to put it out in English as well now.

That’s possible Hepseal but it’s also worth revisiting the news from April which contained the following statements:

“The MoU between Block and the Ministry covers government support and initiatives to assist in the development of Projects I, II, III and IV through data sharing, cooperation and the facilitation of meetings with national and regional large oil companies.

In particular, the MoU supports the concept of a long-term gas offtake agreement, which is an important part of delivering value associated with Project III and the 1 TCF contingent resource identified by Block's subsurface team and supported by internal contingent resource reports. The MoU also covers other areas of cooperation, including geothermal, carbon capture and storage, specifically the south dome project located within license XIB and hydrogen projects across Block's licence areas.”

If BLOE has managed to secure that gas offtake agreement then they should have no difficulty in achieving a farmout for project III.

Hepseal what I am saying is that priorities can quickly change if someone with much deeper pockets comes sniffing. My reason for investing here has always been about the vast quantities of gas in project III, which once tapped will provide Georgia with the energy security it needs, not the relatively insignificant project 1 wells. If the $30m investment that is quoted is coming from a farm in investors should be delighted rather than whinging about the lack of progress with project I imo.

We have had, not ‘add’!