Member Info for SEA7

in these times it is about survival.

Block has shut in production, has no real debt to speak of, has cut expenses to the bone and has about £2.75m in cash - it can weather this situation and do nothing for well over a year, if needed, just on current cash burn v cash available.

It will take a couple of months for the oil market to stabilise - block will still be here then.

i think AJW post was in the thread and was removed along with it.

i noticed that a lot of posts are gone

Best to ignore the gloating, self promoting and look at me aren't I great posts from oilman jim.

Not even worth the time to respond.

Move on swiftly.

this site is woeful again this morning - extremely slow and sometimes doesn't even load - they have been having issues for months and months

still bashing the stock, in line with expectations hustler.

the only reason you are insulting posters, by calling them names, just like a child in a playground, is because you have exhausted your entire knowledge base and are stuck for an intelligent response.

it is fair to say that most, if not all the recent new posters on this board, with one post histories are the same person.

you can change the name, but you cannot hide the persona and tone coming through in the endless drivel that is being posted.

Opec said it would cut 9.7m barrels a day in oil production in May and June, equivalent to almost 10 percent of global supply, and continue with lower reductions until April 2022, in an effort to stabilize global crude markets.
The 9.7 million barrels per day cut will begin on May 1 and will extend through the end of June. The cuts will then taper to 7.7 million barrels per day from July through the end of 2020, and 5.8 million barrels per day from Jan. 2021 through April 2022. The 23-nation group will meet again on June 10 to determine if further action is needed, according to CNBC.

The cuts would be more than twice those made by the cartel during the global financial crisis, Financial Times reported.

https://vietnamtimes.org.vn/opec-secures-global-oil-record-cuts-in-history-19395.html

tks V111JAS ...some just never give up !!!

hustler, you are talking like a basher, posting like a basher, ranting like a basher and bragging like a basher - definitely a basher.

if you have some small change invested here at 10p per share and are underwater, stop effing whining about it like some little whiny *****.

being responsible for 99% of the posts since close of play friday isn't going to change the fact that you are underwater.

if you cannot handle your investment collapsing to an all time low for one reason or another, then perhaps you should choose a different career path - as stock market operations may not be for you.

bashers demand that people check the history as they know they won't

thats another tick in the box as a basher for you hustler - the evidence is really stacking up now.

hustler, you are getting boring now, no one believes you - and most are just laughing at you.

hustler - regurgitating old posts and points is the practice of bashers, as is the significant number of postings on a single board by you - i think you do need to give it a rest - you have just hung around this board, posting negative comments about everything everyone ever says.

You appear to be bashing the stock, for yours or your paymasters own ends, as you are not posting on this board as some sort of guardian angel, warning us of impending doom at this particular company.

The elderly yesterday posted to express he dissatisfaction and regret after listening to the rampers. He is down 50K and in serious depression. His entire thread got removed, I have never seen a board this bad.

............

I like the way that posters took this person to be genuine based on nothing more than a bulletin board post and the alleged first one from that poster.

Couldn't possibly have been the same poster, with several aliases, posting this drivel, to make it look like a busy board, full of negativity.

Posters have been quick to dispute and discredit anything positive, yet welcomed this posters word with open arms and unbridled trust - jeez - talk about double standards.

https://www.guerillainvesting.co.uk/2009/12/15/stock-bashers-3/

Bashers never bash bad stocks. You can watch the board for stocks with no potential. You’ll see pretty quickly that those stocks don’t have bashers. Bashers only go after stocks that are going upwards or have excellent potential to go up. Bashers get left behind, so they want to bring the price down.

Bashers bring up old news that you have heard many times. All companies always have a few bits of bad news. The basher will post these bits over and over again. The stupid basher will try to make the old news a bit fresher to try to fool you. Don’t be fooled!

Bashers post many times a day. They try to wear you out. They comment on everything, every other post, and can answer every question. To hear them say it, they know it all.

There is no positive comment they won’t bash. They try to control the board with their negativity. If they seem to be working on this one stock full time, that’s because they are! Even more than full-time.

The basher is all about bringing the price down. That is the nature of a basher. The truth is not important; lies are the norm. They are trying to hit the newbies visiting the board for the first time, so they post continuously throughout the day. They are trying to wear out the longs on the board and they will do whatever it takes to do so.

Always report the basher to the board or forum eventually they will have to take action. Collective reporting on a daily basis will ensure the bashers’ demise.

if I recall correctly, the historic cost recovery pool at WR is about $6m and there will be the recent work done to add to this figure.

Norio.....

The provisions of the agreement include that 100% of the revenue from sales of hydrocarbons are available for cost recovery of operating costs before sharing with the government. Capital costs, including an historic cost recovery pool of US$20 million, can be recovered from 50% of the production revenue before sharing with the government. The government pays all taxes from their share of Profit Oil. Profit Oil is split 50/50 until “Payment Date,” defined as the time when all cumulative revenues from Cost Recovery and Profit Oil exceed cumulative capital expenditure, including the historic cost recovery pool. After the Payment Date, the Profit Oil split is 60% for the Government and 40% for the Block.

West Rustavi.....

The provisions of the agreement include that cost recovery of both capital and operating costs is limited to 50% of the revenue from sales of hydrocarbons before sharing with the government. The government pays all taxes from their share of Profit Oil. Profit Oil is split 50/50 until payout, defined as the time when all cumulative revenues from Cost Recovery and Profit Oil exceed cumulative capital expenditure, including the historic cost recovery pool. After payout, the Profit Oil split is 60% for the Government and 40% for the Contractor.

Satskhenisi

The provisions of the agreement are identical to the terms for the Norio Permit that include that 100% of the revenue from sales of hydrocarbons are available for cost recovery of operating costs before sharing with the government. Capital costs, including an historic cost recovery pool of US$ 10.276 million, can be recovered from 50% of the production revenue before sharing with the government. The government pays all taxes from their share of Profit Oil. Profit Oil is split 50/50 until “Payment Date,” defined as the time when all cumulative revenues from Cost Recovery and Profit Oil exceed cumulative capital expenditure, including the historic cost recovery pool. After the Payment Date, the Profit Oil split is 60% for the Government and 40% for the Contractor.

Thanks Scamp - appreciated.

anyhow - hope all have a decent easter break - even if it is mostly indoors or the garden - back to work tuesday.

of course you are correct there hustler - that it would then be restricted cash in that it is allocated and I clearly forgot that in my post - no intention to mislead.

the point re the twitter bit... was that it would be like your boss saying happy xmas to you, then firing you two weeks later - knowing full well he was going to do it, when he wished you happy xmas. A bit of a ****s trick.

my view was that they would not sit there, all smug, wishing everyone happy xmas, knowing full well, that less than palatable news was in the pipeline.

no intention to confuse - I do hold this stock and do wish to see them make headway - just without all the half baked PR and less than detailed RNS's

fuse thanks...

when block raised £12m this is what PH said...

Haywood also highlighted that the injection of funds gives Block Energy further freedom to explore other new opportunities.

“We are a young, ambitious company keen to apply the low cost, innovative drilling technologies we have deployed in Georgia to new ventures in the region and beyond,” he said.

..........

in my view, it is a small community of oilers in that area - word will have circulated about schlum and perhaps PH made a move.