Member Info for SEA7

I always invest direct - rather do the research work myself - takes all the fun out of it, if you just buy a fund!

have a good weekend also

If I recall, amati hold the shares in block across other funds of theirs as well, seeing as the VCT fund only has a percentage of the overall block energy holding in it.

gary,

if you want a full breakdown of amati holdings.. please see page 38 section 1.7 Investment Portfolio of Amati's offer prospectus that they have running through to next april

Value as at 30th September 2019 and document dated 31st October 2019..

Blocks holding represents 1.9% of the funds NAV

https://www.amatioffer.com/media/1010/amati_aim_vct_prospectus_2019.pdf

re amati.

from their interim report - October 2019

The second follow-on investment was Block Energy, the Georgian based oil and gas explorer. The company drilled a horizontal well in its West Rustavi field, and initial flow tests showed an exceptional result, following which the company raised money for a further drilling campaign on this block. However, since bringing this well into production it has proven problematic, with a high rate of water getting into the well, with the result that the shares have fallen since the period end. It appears most likely that this is due, at least in part, to some problems with the way the well was completed, leaving a section open to a higher reservoir horizon. The result of the second well will be known shortly, after which the company will consider its options for rectifying the problem with the first.

and from the placing document

Amati Global Investors have agreed to participate in the Firm Placing for amounts of £3,000,000,
representing 27,272,000 Ordinary Shares. Amati Global Investors holds (prior to the Placing)
13.58% of the issued share capital of the Company and they therefore constitute a substantial
shareholder pursuant to the AIM Rules

you will note in amati comments that they talk of selling "Escape Hunt" during the month, however, as there is no mention of Block in this regard, they are continuing to hold, unlike our panicky retail sellers

Posted 3 days ago...

The major detractors from performance were Georgian oil & gas explorer, Block Energy, which declined on no news

http://amatiglobal.com/viewpoints.php

Think for the type of fund it was 5% - if I recall they do not have to declare any sales once below 5%

Miton november....the fund they have their zenith holding in.

https://resources.mitongroup.com/srp/lit/NoOvjB/Fact-sheet_Miton-UK-MicroCap-Trust-plc-Miton-UK-MicroCap-Trust-plc-Ordinary-Shares_30-11-2019.pdf

With small cap stocks currently on such attractive valuations we believe that the capital released from the portfolio takeovers can be recycled back into holdings at attractive entry valuations. The premium takeover of Eland Oil meant that the trust booked a threefold profit on the holding. In general, most of the capital has been used to top up many of our current holdings where their valuations have fallen back in spite of the fact that they are continuing to trade well. We do keep alert to potential holdings that have unusually significant upside, particularly where they provide an additional degree of diversification to the current portfolio.

Perhaps they are adding, even if they do not mention zenith specifically.

Miton november....the fund they have their block holding in.

https://resources.mitongroup.com/srp/lit/NoOvjB/Fact-sheet_Miton-UK-MicroCap-Trust-plc-Miton-UK-MicroCap-Trust-plc-Ordinary-Shares_30-11-2019.pdf

With small cap stocks currently on such attractive valuations we believe that the capital released from the portfolio takeovers can be recycled back into holdings at attractive entry valuations. The premium takeover of Eland Oil meant that the trust booked a threefold profit on the holding. In general, most of the capital has been used to top up many of our current holdings where their valuations have fallen back in spite of the fact that they are continuing to trade well. We do keep alert to potential holdings that have unusually significant upside, particularly where they provide an additional degree of diversification to the current portfolio.

Perhaps they are adding, even if they do not mention Block specifically.

if the guys from solo, who hold stock in Block energy decide to make any move, it will not be in the form of a takeover initially.

Their MO is to build a stake in the company and then get a seat on the board. They then set about removing any dead wood or opposition to the way they think things should be run.

When they have control internally, then and only then do they consider the merger of the company with their larger entities and not before.

If and it is an if, they move forward with such a process, as it is dependent on the way the company delivers, then we will be waiting for some time for any developments on that front.

I would put this Idea on the back burner, however, do not underestimate their intention to be calling haywood from time to time.

yep - issues do not last, they are resolved and progress gets made - the stock price then follows.

you probably noticed the silence from the bashers when the stock moved from 3.875p to 8p recently - says it all.

yep but bashers never bash a bad stock - no point, no chance of it rising later on, after they have loaded up on cheaper stock.

key to it, is to find a stock that is having some issues, the price is low and sentiment is off - and attack it.

Same old, same old... run the stock into the dirt, drive everyone out of it, spread fear and worry, whilst picking up stock others are dumping.......then wait, good news arrives, bashers disappear, well they aren't far, just busy selling into the rise
and booking fat profits.

Thanks Gary,

when the trigger arrives and the price begins to move up, a decent supply of stock will be needed to meet the buying demand and those pro's that have been soaking up the sells at the lower prices, will be the ones supplying it at higher prices.

bobby - it is well known that professionals buy when the price is low and volume is generally much lower.

This stock had all the hallmarks of standard game play.

back in jan ..stock was 2.9p - hardly anyone in it, buying by a few, quietly and carefully in chunks so as not to lift it too much.
Price moved up to the 4p level - lots of churn, traders out, stock retraced, pro's retain holding and add on retrace. Complete silence surrounding the stock.

Next thing we see that all and sundry are pumping the story all over the place, bulletin boards, news outlets etc - price moves up much higher -retail pile in - pro's trim positions and take profits by selling into the rise, leaving a free carry or thereabouts. News on 16az comes in - stock goes north - pro's are selling out into the rise that retail are buying into.

Professionals have exited, retail are holding - placing announced, stock plunges, selling out at losses... professionals wait.
issues at well, professionals wait.

Complete silence descends on stock again, no news, no pumping anywhere - price retreats further, to where it is now....professionals start quietly loading up again.

Doc holiday comes out of the woodwork and starts pumping the stock

rinse and repeat.

We had the accumulation phase, we had the distribution phase, we are in the accumulation phase again... soon be time to run the stock up and repeat the distribution phase to eager buyers much higher up again.

Been done, thousands of times over on this market.

time of trade had buys at 4.67 and sells at 4.63 - that trade for 1m shares was at 4.65 - at the mid, as the price hasn't budged, it should be a buy but hard to tell

they used the A80 rig for prep work at C37 -

Using the Company's A-80 workover rig for these activities has saved Zenith approximately US$200,000 in rig rental costs. This is an important saving and validates Zenith's strategy of operating its key operational equipment. We have made good progress and overcome all the challenges so far in the C-37 operation, I look forward to concluding wellbore cleanout activities, which have been intensive as we have reached a depth just short of 4,000 metres, and beginning the drilling phase of the operation."

The drilling rig mast was fully disassembled on November 6th. The sub structure was after that.
On November 7th it was being loaded onto trucks.

yep aaog is dire - I remember looking at it and walking away ages ago.

and PTR moves up 39% off the back of placing that they clearly state will be used to pay salaries that are owed - go figure