Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Shareholders how are you interpreting this ?
"The lasting value of Project II’s JSR-01DEEP, for example, for which results have yet to be reported, may consist in its capacity to inform the effectiveness of future wells rather what itself produces."
Paul has said things in the past about not judging the value of the company on each individual well but the potential operating collective.
Which is why I think they are trying to get multiple news streams going at the same time. To get off the linear program of one drill one shot at success at a time.
But I also do not like the lack of communication/ communication style and potentially using another program to excuse delays/poor results of another.
Spinning plates and inverted cup distraction games. I guess this comes down to trust. One of the reasons I am sticking around is Theda t that the directors have huge stockpiles of shares paid instead of salaries. They have more skin in the game than the majority of us, and as always will look after themselves.
Risk vs reward. 40% drop versus how many multiples upon successful results.
There are no guarantees in this game, and I am somewhat uncomfortable with the amount of time, as it bring back painful memories of how PH dragged out 38Z.
Stay Positive, that sounds like BLOE in 2019. A lot has happened since then including blocks asset base being significantly larger, revenue higher yet the MCAP is multiples smaller.
Ultimately Paul Hayward over hyped and under delivered. We are now in a position that the results need to be solid and accurate. If they are this will absolutely rocket as it is considerably undervalued. Again considering the asset base and potential revenues driving more and more new drills and sidetracks.
If Paul screws up again. well there isn't much further it can go down from the current SP. Risk vs reward is better now in BLOE than it has ever been. but yet because of reputation punters avoid.
Roll on the good news, will make a fantastic xmas present for all shareholders.
I have, the nil cost options for the acquisition of SLB Georgia assets have been deferred by one year. What have I misunderstood. delays the dilution of the acquisition..
Block Energy plc, the exploration and production company focused on Georgia, announces that SLB (formerly Schlumberger), has notified the Company of its decision to not exercise its right to acquire 108 million ordinary shares in Block Energy plc.
A total of 120 million options were granted in 2020, as consideration for the acquisition of the Schlumberger Rustaveli Company Limited ("SRCL"), which held Georgia's most productive license, Block XIB. Of these, 12 million options have been assigned by SLB to Jindal Petroleum and expire November 30th 2023.
The acquisition of SRCL provided Block with additional production, material additional oil reserves, significant gas resources, oil inventory, materials, and a US$133m cost recovery pool while preserving its cash position for further growth.
Commenting, Paul Haywood, Chief Executive Officer of Block Energy plc's, said:
"This is very good news for the Company and shareholders in Block. The result for Block and its shareholders is a significant gain in value and reduction in dilution, both contributing to our continued commitment to maximising value, for all shareholders, whilst we advance through our 3-project strategy."
¹RNS notification of 26 March 2020 headed "Major acquisition of two adjacent blocks from Schlumberger"
No SLB has deferred taking the nil cost options by 1 year. this is in BLOE's benefit not SLB.
Market is priced on waiting results and is based on past performance/credibility.
Salary RNS will come in the next few days typically isn't on the first of the month.
Same tarbs.
My finger has been over the sell button to de-risk.
They sat on results before whilst they tried to fix the situation at 38z.
News is now “well” overdue and they are not doing anybody any favours by dragging the share price down before releasing the update.
I hope I’m wrong, but this is beginning to look like repeat behaviour.
I think market communication changed around the time to Scottish contingent started their attacks to take over. Everything became guarded and short term.
This hasn’t changed. And private investors are largely on a need to know basis. Which is a shame IMO.
It is the timeframe and timing. When the share price rallied PH should of got some news out. He didn’t. Now dragging out and people are losing patience and getting concerned.
This isn’t new PH since the highs has read the markets and timing / language of announcements has been poor.
My concern is they haven’t included anything actually useful one way or another. Why bother putting out the RNS with literally nothing new in it.
May need to read again, but this just seems like a can kicking down the road to me.
BB
Read the RNS, "PART payment". In the O&G industry specialist consultants typically receive shares as part payment even more so the good ones. It is standard practice.
This is not a case of BLOE forcing payment in shares. It will be the provider dictating that as standard terms, what can vary is the ratio of Cash vs Shares. Your perspective is wrong this is not confetti of shares or cash preservation it is getting the job done in a normal way.
What is interesting is the timing of them receiving them, would of also liked to of known the consultant/what services.