Member Info for Scrodingerscat

Total BS you are just posting the same thing over and over again. You've made your point now unless you have anything insightful or new to add beyond your own interpretation that we've had daily from you for the last two weeks, just button it and stop trolling the board with your baseless opinion. You know the same as everybody else so don't pretend you know otherwise. I'd hate to be on a turbulent flight with you, you'd be incessantly screaming we are all going to die.

Consistently inconsistent. If anyone listened to him before let alone now, then investing ain't for them. His entire theory is built on the word "significant" talk about running away with the dishes. Avion and the board will release info soon enough and if it's good, bad, middling or altogether indifferent so be it. Why sell now if you didn't sell when the RNS came out, the market reacted to the neutrality of the release the only thing we actually know for certain is that they have the FDA response and are discussing it with Avion, the rest is just hearsay and conjecture ie. people making guesses some with more plausible outcomes than others, but guesswork all the same. GLA.

What's the panic drop over? I read the RNS as just that they received a response. It was always the case that Avion decide the next steps so clearly they cant release any further info than they have.

Haha Lambo222 you've sold and bought back in what 3 times over the last few weeks. Classic ramper and de-ramper depending on what your position is. Anyone with eyes can see you are about as consistent as Bombay mix.

Tonyfawcett the positives are only plenty when you have cash to exploit them BLOE has only $1.4M. The longer there is no news the greater the possibility that none of your hopes will come to pass. The producers are declining as we speak. They have been trying to secure finance for over a year and there's no sign of any progress, I have seen multi million credit facilities setup in organisations I have worked for with both stronger and weaker balance sheets and they never took anywhere near this long. That will mainly be due to operating exclusively in Georgia, which is a big risk for any underwriter not to mention the declining production and clear view of £22M spent for little return. The IRR value is currently shocking.

$1.4M is clearly not enough to go for a solo drill. So what are the board doing? There is only a slim chance now that any drill will be completed by September which again points to a previous RNS even by its vagueness being false on all counts of it's possible meaning. You cannot operate a publically listed company that gives out "news" that consistently turns out to be false, by definition misleading investors.

There are still foul powers at play here if you look at Capricorn their shorts have gone as a result of the merger announcement and the price has effectively flowed with oil price and some bullish talk from their bigger holders about £3+ valuation. While Tullow has a very active short operation at work the disclosures point towards a lot of activity beneath the declaration threshold which is interesting to see as would be invisible in normal times.

Anyways chill enjoy the last days of summer, news is not an eternity away. It's clear they will not have a capital markets day or release a prospectus until after Kenya is stitched up. Otherwise they would have the votes in the calendar by now, RD may say the merger is logical which it is but Capricorn have cash and the jam sandwiches tomorrow line is not going to work as until new wells are brought online in Ten then it still looks as pointed out by other posters and myself at the last update we have drilled to stand still. Kenya on the other hand makes it a picnic tomorrow with 2 kinds of Jam on offer. I really don't believe that RD is foolish enough to believe that they could get the merger over the line with just the last trading update and if he did then failure in Kenya could see his sandwiches handed to him. GLA.

The SP has been a joke for years now. Strip out everything and RD said they will pull in $200M of FCF for the remainder of the year at $95 oil. Like Bailiff says, frustrating now but when we monetize the gas, a Kenya deal is struck, the merger happens and we acquire some more African assets (my money is on Gabon), debt refinanced and it's still 48p I will be marching into the FCA office myself to demand an investigation. Ignore the daily moves, good luck to all the day traders but they rely on luck and they will sell one time to many and miss the leg up. The risks are that the merger doesn't happen but those new wells in Ten being brought online next year hopefully address that niggling problem of decreasing production in Ten.

The market only looks forward emotionally not on logic. Positive news over the next 6 months should finally change what has been poor sentiment since McDade failed to sell Uganda and spaffed money on ill advised drills in Ghana when there were much more sensible targets to go after but as a gambler does it was boom or bust for him in Guyana, 65% of our budget at one point was
spent on exploration the rest as they say is history.

It's not a massive document granted but rule 11 general disclosure does exist. Anyways why am I going to listen to a deramper who thinks "they" (I assume you mean the board) can take this private with only a tiny minority stake. That's laughable, actually make that impossible. Instead of pretending the rules don't exist maybe you should brush up on them and find out what percentage of the equity that's required to vote for it to make that possible.

TonyFawcett "most companies hold off news in August with it been holiday month" nice theory if it wasn't a complete breach of AIM listing rules.

On BLOE they better get their finger out because even a 30 day drill if not started next week will not be completed by the end of September, what is certain now is that there will be no well completed "by September". I see Rocklawn is pushing for an echo chamber again. I'm not going to F off until I know for certain I won't get my losses back. Let's see if PH surfaces before October, if he doesn't someone can start baking that apology cake.

GLA even those sat in the sun in their rose tints dialled up to 11.

Well well what a day this turned out to be. The Kenya story is really helping the shareprice hold up well here considering the oil price has had a few big drops on recession fears. But the reality of a tight market will bring the oil price back up, this has to be the weirdest relationship now because oil markets are reacting to a drop in future demand when it's struggling to meet current demand and with hurricane season almost upon us, gas in short supply I expect the winter demand for distillates to be through the roof.

Come the winter we will not be looking at $95 oil, anything that can be used as a heating source that isn't gas as gas will be in it's own league of value will see a bump. Even coal looks like a good short term bet. GLA.

Case and point. I bet you get invited to all of the parties. So why rpg7? Was 1 through 6 already taken? It just screams of and individual who spends their Sundays dressed as a wizard.

rpg7 so by that logic that makes you and Chesh a deramper. But I guess you ignore personal attacks for those wearing the same scarf as you or are oblivious of your own unnecessarily confrontational posting style.

Besides I'm not going to take a moral lecture from someone who has nothing meaningful to say and gets their rocks off by picking fights on a BB. Quite frankly that's me being nice, you are a ghost at the feast character at best.

Positive but not stellar. Some points of concern chiefly.
- Gold offtakes have been hampered by prices.
- Minimal FCF generation, this points toward significant cost to servicing current debt.
- No mention of Lincoln Gold either and considering this was supposed to have first pour in Q4 2021 the complete silence here is odd.
- Can't see a inaugural dividend being paid on this level of cash flow generation this year.

Positives
- Koolyanobbing star perfomer this quarter
- Gold offtakes should perform better Q3
- Positive movement for both lithium projects.
- Still have $21M in cash so fingers crossed for another acquisition in H2.

GLA.

Chesh nope my memory is tip top, I can remember which coloured bins are up for collection each week from memory. So the street looks to my prompt every week.

As for your back handed jibe, no you have not provided a date much like the company hasn't. What you have done is made up your own timeframe based on vague information. Do I actually need to explain the difference between a timeframe and a date, it's real simple a date in reality, as in the flow of time here on earth, in this universe is a point in time whereas a timeframe is a range. You with me?

I've got it now you must be one of PH's illiterate serfs, he is your liege lord and the only way you are able to communicate in writing is utilising Sesame Street learn and speak. See obnoxiousness isn't a great look is it. As if someone who can't write in English is trying to take the moral and intellectual superiority high ground here... hilarious.

Only 2 exploration drills and you've lost patience haha. I've been here for all the attempts in South America Guyana/Suriname, Peru and Argentina with the exits from Suriname, Peru, Jamaica and Namibia. End of the day at anything between $40M - $60M per attempt considering Tullow's finance position then drilling left right and centre has not been an option and the previous regime bet heavy on a major find and that nearly killed the company.

Hindsight is a wonderful thing but post Kenya and merger then we will be back at Kanuku but the difference will be we are not over stretching ourselves and we can afford it. Today would have been fantastic if they found oil but these drills only have a 30% chance of success and yes it's frustrating seeing the likes of Total strike gold every time but Tullow bidded on the licenses when they were up for grabs, there's an element of luck here but the supermajors always have the edge and are able to secure the licenses with the greatest chance of success. GLA.

antonvb I can't say I'm an expert when it comes to Kenya but ultimately the fields belong to Kenya and is currently licensed out to the current partners. So for any sale to be legally legitimate it has to be sanctioned by Kenya. There is a whole swathe of legalities to cover here ranging from the environment, health and safety, land, investment, financial due diligence through to tax.

It is a commercial transaction to an extent, but take the Uganda sale for example the first time round as Uganda slapped a Capital Gains figure that both commercial parties disputed, so they did not sanction the sale, leading to the deal collapsing. So in other words there will be loads of hurdles for the new operator to cross before Kenya gives it blessing, so they could grease the wheel or they could obfiscate. Unfortunately East African countries are very corrupt and this will be seen as an opportunity within the state to look at what's in it for me under the guise of getting the best deal for Kenya.

For someone who writes posts like they are from another planet, I find that mildly amusing.

Go on then explain how that's a start date. Like if
I book a holiday and the travel agent asks me when I want to go and I say by September and then they ask me for the date and I just reply by September, what day do I go to the airport? This doesn't mean anything, purposefully written in it's vagueness I suspect to buy time, it could mean a number of different things:

A. Completed by the start of September
B. Complete by the end of September
C. Started in August and completed before the start of September.
D. Started in August and completed by the end of September.
E. Drilling started in August but no completion timeframe.
F. Drilling started in September but no completion timeframe.

Which is it then smartarse?

It's like flipping a coin and calling both heads and tails and so you can claim you predicted the correct outcome. Copy and paste all you like but clearly you have rejected critical thinking here, because you have swallowed the RNS and not asked "why" there isn't an actual start date reported.

Tony take the rose tints off for one second. You are a potential investor and you see last quarter's trading that generated £200K in FCF, and a salary sacrifice scheme that exceeds that sum if stripped out across the quarter. A clear indication that production will be lower in the current quarter and no date for the next drill. Why would you stump up and buy in?

The track record here is appalling, the only way traction will be gained is delivery or change. You've bet the house on delivery now a lot of us feel that change is needed to spark a different approach. We are all aligned as shareholders wanting our losses here reversed, if the board cared about you or anyone else one jot they would take a paycut until they start to deliver what has been outlined and stop painting failure as a cup final win.

PH has no goodwill left, you may trust him but a lot do not, nor does the market buy it one iota.

No surprise all the cultists lap that one up. You are only a true shareholder if you have unyielding belief in the leader everyone else is a heretic.

Much like the post from yesterday, you guys actually see the share issue as a good thing completely upside down logic. Grasping at aligned. Only when you ignore the fact that the BOD's setup this company that can't afford to pay there salaries. As a company director myself if I had to do that I would either need to take a pay cut, draw down on cash, borrow (BLOE has no credit facility), sell a stake to an investor or fold the business. Only in the minds of a contortionist can this scheme be painted a positive.

Abinvestor where I can agree on the sentiment I'm very of the model that I will be positive when the news outflow warrants positivity.

The issues are not of our making so who is responsible for that? Aside from some external factors during Covid that you can give a free pass on, the buck ends with the leadership. Let's not kid ourselves if it wasn't for $100+ oil average over the last 7 months then we would all have been dead and buried here and that's saying a lot when the price is sat at 1.3p.

What can we do? Easy, vote to show our disapproval. I never understand this selfish need to promote companies with poor performance on these BB's, its ramping in any other name. People can accuse me of de-ramping but that is just lazy. The truth is not a mis-representation at the end of the day. Clearly I want BLOE to succeed but it's not happening under this regime, will happily be corrected if things do change. Genuinely I value the assets that is why I haven't sold, but I'm sorry since June 2018 the company has failed to get at it meaningfully with $22M and I still reserve judgement on the non-dilutive finance until I see the covenants, hedging, revolving facility and the ticket %. I mean loads of you were adamant recently they were going to secure some cushty government loan, the recently released documents suggest otherwise and looks subject to any merit based bid to the commercial debt markets. At a time of rising interest rates and BLOE junk status if they get a ticket better than 15% I'd be amazed.