Member Info for Scrodingerscat

No opinion but has traded sideways since RD's appointment because the negatives outweigh the
Positives:
- asset disposal (Uganda)
- refinanced
- high oil price
- Moody's credit upgrade
- pre-emption exercised in Ghana when Occidental exited.
- Jubilee producing approx. 90K bopd

Negatives:
- Financing has high hedging requirement and high interest.
- 2 exploration dusters
- Exiting of multiple exploration licences
- No production increases when you take out the acquisition percentage. Drilling over the last 18 months in Ghana has yet to produce any production gains due to Ten declines.
- Lengthy shut down in Non-op.
- Disposal of producing non-op assets.
- High Debt, increased as of H2 2022 due to high drillling Capex with no production gain currently.
- Failed merger attempt.

The recent rise has been nice but there will be no change until something materially changes. Jam tomorrow, there's only Kenya left to rocket this unfortunately anything else is steady as she goes, production needs to go up and significantly.

I don't think I know this country would be better under a banana. Highest ever tax burden under this lot with more to come to plug a £50 billion black hole. You hear this lazy comment all the time that they are all the same they really aren't, Starmer son of a joiner, headed the crown prosecution service and knighted for his services (so not a career politician as said) said he would resign if he was found guilty of breaking lockdown rules vs Sunak former hedge fund manager (worked with Crispin Odey), found guilty of breaking lockdown rules, had a US green card, the wealthiest man in parliament and his wife until recently non-dom for India to avoid paying UK tax on dividends paid via her father's company (net worth £750M). They couldn't be more diametrically different but you keep spouting that Daily Mail rubbish it just highlights how very little you know about these individuals or the subject. Just sound like that know it all in every pub who gives his opinion, with no facts to anyone who will listen about his backward politics. For the record I have been a member of the Conservative party in the past, the last few years not one of the PM's is worthy of lacing John Major's shoes and he was lambasted as a joke.

Absolute tosh compare the NHS, civil service, military, local authorities, police, prison service, fire service... not to mention the national debt under labour and now and it couldn't be more different. The tories have financially crippled the UK over the last decade only property owners have benefitted (barring those given cushty contracts during Covid and now energy companies) and now that looks set to change before the next GE. Gordon Brown was vilified for saving the banks which in hindsight has been proven to have the best option over time minimising the fallout to people with money tied up in thoseinstitutions. I don't wear a scarf and will vote for whoever has the best policies and are the most trustworthy. The Conservatives over the last decade have been without a shadow of a doubt the worst thing to ever happen to this country and I thought Suez would be impossible to beat.

"Oil will be sold if flowed to the surface" an over simplification of how oil is sold but yeah why worry about pipes, storage and transport logistics or anything maybe the gas can just float around until they are ready for it. Apologies for mirroring your behaviour but these things matter and are the biggest Capex of any producer as your profit margin per BOE does matter... sorry to be a stickler. Deep sea drilling, shallow, shale you name it all do appraisal drilling and often have wells that never produce that could have as it's about gaining information about the optimal point for your next drill.

So this is where your assumption comes in again. Its a fountain now is it? An appraisal is just that, or not, who knows. Without pouring over all previous releases to JSR-01 do they even have the infrastructure in place to offtake oil and gas from JSR-01 right now if as you say it's indeed a fountain? Just because it's a deepening of an old well doesn't immediately mean everything is automatically in place to offtake.

Chesh I don't like to point out the obvious but haven't you been posting about flow tests for production being released? So that suggests the message about this well was not crystal clear, and misinterpreted by yourself and many other contributors. Just food for thought and obviously in hindsight with yesterday's release compared with the previous one it's easier to draw that line. We already know you are more than happy with the way the company releases information the post originated from someone who does not share that view and clearly they are not the only one.

Hepseal that's how I read it, nice to see you are still here and actually outlining what's most plausible from the info released rather than what people hope happens. Would've been nice if that was made clear before drilling JSR-01 though. I guess though they didn't actually outline exactly it was purely appraisal beforehand, so hard to criticise. Everyone here nearly, just assumed it must be a production well. So jam tomorrow still.

Also for the record, and to set it straight. Obviously anyone can read my posts, not rob though... his choice. I don't post often and my posts are always balanced in my opinion (you are entitled to disagree that's the difference between good discussion and an echo chamber), the SP moves north of here I will gladly applaud PH. Anyways point is my posts only reflect "my" sentiment on a given share, rob will be referring to that I have been heavily critical of SAG recently on their takeover of TPG. I'm actually in the blue here so am far from bitter, I want and hope BLOE succeed, I invested based on the assets which I still feel offer real value that I think in time will be unlocked. I've not charged my stance that the current leadership are not the right one's to unlock it in the most cost effective manner, the quickest time possible or that they are completely honest and trustworthy. Time will tell on that front and by far the biggest drag on the SP has been PH. The transition of how they have fed info to the market has gone from promising the earth, misleading, disguising bad news to just being as vague as possible now which means any positive future news feed will be taken with a pinch of salt. You might not like that but the market will only respond to material progress here not what the company decides is pleasing to announce. Or those who claim every RNS is a positive.

I actually thought there was some positives in the release, however since the market wants production to go up any release after the last update where production is declining unless it involves a finance deal or finding or acquiring new reserves will have no positive impact on the current SP.

Clarity from BLOE nahhh. It's the be vague as possible and don't tell your shareholders what you are aiming for and or when, so that no matter the outcome you can claim victory. It's like calling both heads and tails without having to call it. They will have an internal target, budget and delivery timetable as all properly managed projects do but this is info not for the plebs (shareholders). Who knows if this is good or bad, as this well was marked as exploration so it may never produce or even if they ever intended it to. Only insiders know what's what and that's what you just have to accept from BLOE as PH is always pleased to announce so the meaning of the word is lost on these releases.

Also fair to point out the BoD... You mean the one with 2 SAG directors sat on it, one of which is the CEO for both companies. Best deal obviously for them yes, are you on a windup? I wouldn't take our CEO's advice even if it was that or a choice between his advice or swimming with Sharks. SAG have done exactly what they did in their previous agressive takeover, posters claimed they wouldn't they have and that's now for the record. I just hope shareholders don't capitulate here, SAG will have to pay or actually stick to that fantasy RNS nonsense about this being a strategic investment. The BoD clearly thinks everyone is stupid here or desperate to sell. If you are desperate to sell just do so now and let the rest of us try at least to resist these vultures. They won't unwind here out of spite or anything else even if they sell now they've lost 6 million and have actually done what the previous board could not and started clearing out the deadwood. TPG is actually in a better position compared to last year the SP is not reflective of the current NAV and I would be very surprised if no analysts where currently looking at what that is likely to be come year end. Notice conveniently on a business update could have given an update on the last quarter and that was left off. Erm yeah 2.25p is a fair offer but we don't want you to know how the business is actually currently performing. Grubby and everything wrong with the stock market, I will make a complaint to the FCA as this is really rotten if allowed. A minority shareholder holding the rest of us to ransom is outrageous and a bad precedent for AIM.

I can and will reject as is my right, if I was going to sell I'd just sell now 0.25p less is meaningless. SAG are getting a £50M+ revenue business for £25M they can see the benefits of buying our shares shame a lot of our own investors do not. Maritime will be back to better health in a couple of years and services is profitable. Why accept the first offer which anyway you look at it is an insult. SAG are already invested up to £12M they are not going to be able to pull the plug without losing that investment. They need 75% to vote for this offer they currently have 29% all to play for and easily a rival bidder can emerge. Stand firm or sell up now those are your options.

Fatmooch where are you? Get the jar out... I told you so. SAG have acted exactly as expected, which for the record is disgusting, the narrative that only they were able to renegotiate contacts is for the birds and now that issue is pretty much resolved they want to benefit minus the rest of us, a liquidity injection does not make the group insolvent. Value destruction 101 1. Create a boogeyman 2. Go radio silent 3. Make grubby deals with II shareholders in the background. SAG have destroyed the share price here all for gain, it's clear they wanted to aquire the group at the cheapest they could, £17M for a company that will likely have revenues of £50M or just under this year and a gross profit... Get tae **** Martin. Don't vote for this grubby deal SAG need to pay or stay, they've invested too much to walk away they will lose a lot if they sold their own holding at 2.25p so why should we.

That's not what I said but generally here in the UK there's a thing called the burden of proof you guys have none, other than ipso facto. If you believe they have additional market sensitive information then that's a question for the FCA. There are plenty of II invested here who stumped up at 11p how come they stumped up without insider information but Edale must have? Fuzzy logic and classic case of cognitive dissonance.

rlightor I've said for sometime that I take what is RNS'd with a pinch of salt, if you read through the quarterly updates over the last 2 years and not just this one in isolation then you can see that definitively 2 of the producing wells (which includes WR-38Z) are inconsistent and despite the word salad released by the company they have clearly declined significantly in that period. Quite happy to stick my colours to the mast and say that even with rework you will not see those wells produce much if any more than they have over the quarter as they are by definition mature declining wells. This is just counting not opinion.

Guys so you are now suggesting that a new investor has market sensitive information that we are not privy to. Unless they sent someone to the drill site in Georgia, then that's hook line and sinker insider trading. Why do you have this need to turn everything into a massive positive? You just look like rampers all the time, far easier to be balanced comment on things you actually know instead of doing mental gymnastics twisting every RNS into something it's not.

Rlightor oil wells decline that's just what they do over time it's clearly laid out in BLOE's own literature. So production declining was inevitable, it was just a question of how much it would be. I posted that they would try and gloss over that with the flow tests of JSR-01 but they haven't. So it's roll the dice again for BLOE, the fortunes of investors are down to the success of one well... again. The numbers don't lie and I see a lot of rose tints this morning, production wise BLOE took a major step backwards in Q3.

Production has declined by over 100boepd, looks like most of it has been gas. If this continues quarter on quarter until reaching a lower plateau then JSR-01 needs 200boepd at least for the company to standstill. Cash has reduced this last quarter and without finance you can only assume no further drilling likely until Q1 next year or possibly December if JSR-01 comes in much higher than 200boepd. These are not good production numbers and what it does highlight is currently block are currently reliant on every single drill being productive, nothing has changed since earlier this year... yet. Fingers crossed JSR-01 is not a dribble.

I was shot down a while back for pointing out the significant drilling costs compared with currently no material production growth. I'm still positive of sorts and the SP is disgusting in relation to the half year but things will not change until A. They RNS something positive or B. Production numbers go up, because the market clearly doesn't like debt going up and effectively drilling to stand still. When are the new wells going to be online in Ten that's what I want to know and if they are ahead of schedule why is this having zero impact on production?

Yeah how very dare point out reality. Anyways don't you have volumes traded to bore everyone with?

Me I'm keen to see what the production numbers are this week, I suspect they will time it so that any JSR-01 success will be used to gloss over any production declines as they did with JKT. Still no finance deal over the line, why do you think that is Chesh? >Insert optimistic statement here <

Madmanrob1 that is production at the end of June if you compare Q1 against Q2 then it's actually declining when you consider the initial bump from the well drilled in H1. Production for Q3 will be known shortly, I would wait for that before shouting that production is increasing... highly unlikely but possible, more likely to see that number decline.

Lambo222 you are a joke. Don't know how you dare post after wearing nothing but a placard reading "The end is nigh!" For 2 weeks.