Member Info for SEA7

so you buy now and when

the company communicates, delivers and the FAQ show up, if that actually matters to you, then the Sp will climb and you can book some profits.

Whilst it is not a guarantee of profits, the balance of probabilities dictate that silence and a low share price now, is tipped in favour of higher prices later on, when the company decide to update on all fronts.

no it never is a problem selling a stock - how else are you going to realise gains.

mike -

Bloe became overvalued based on its current position at 17p in my view. As I had not expected the initial result at 16az to be so good and the share price be propelled as it was, I hit my exit target way sooner than expected. So I booked the profit and waited. I am on this board saying so at the time - and got slated for it.

Now that the stock has retraced and a fund raising taken place, it is worth buying again at this price.

The days of buying a stock and simply waiting are almost gone on the aim market

same here franco - I bought in a 2.9p in january, traded a bit on the journey upwards, bought more at 8p and 10p, then sold out at 15.66p

Restarted a new position when it retraced to 10p and have bought in the 8's, 7's and my last purchase at 6.4p. Got decent scale now and am ready to add on further weakness.

zens cap is £9m
bloe cap is £26m

similar number of shares in issue.

Zen is cheaper as it carries more debt and has had nothing but issues for the last couple of years - hopefully they will be able to close the valuation gap with some success at the drill bit.

yep, zens kit is all shiny and newish, plus owned, whereas bloe's does look tatty and is rented.

zen are producing more at this time in terms of oil, but carry far more debt. Bloe has no debt and £12m in the bank and is fully funded for its four drill program.

Both geologically challenging.

ahh kelsbells good question.

and as I feel they both have a great chance of success, I am in both, although to be honest, I have slightly more in BLOE.

BLOE have large gas potential, so that does give them an edge!

kelsbells - from the 23 november 2018 update....

As announced on November 2, 2018, the Company's A-80 truck-mounted workover rig has run in hole with a scraper to cleanout the production casing shoe at a depth of 3,904 metres. During the operation an obstruction was encountered at a depth of 1,830 metres. As a result, the Company pulled the scraper out of hole and performed running in hole of 2-7/8" tubing with mule shoe which successfully cleared the obstruction and cleaned out the wellbore to a depth of 3,904 metres.

The Company's field team is currently running in hole with a tri-cone drill bit which has successfully cleared the previously detected obstruction at a depth of 1,830 metres and expects to reach the target depth of 3,904 metres (production cashing shoe) during the course of this morning.

Following completion of the aforementioned activity, the Company will pull the tri-cone drill-bit out of hole and subsequently re-run a scraper in hole to perform a final cleanout of the casing to a depth of 3,904 metres.

The Company will begin wireline logging as soon as the scraper has been pulled out of hole following successful cleaning out of the casing to a depth of 3,904 metres. Construction of the drilling pad is expected to commence immediately after the conclusion of wireline logging.

The wellbore will be considered ready for well deepening operations once these activities have successfully been concluded.

c37 was producing at 5bopd before the intervention. The prep work cleared out a blockage in the well, before they moved in with the BD260 rig. Greater chance of getting more than 5 bopd when they put it back on production, post drilling.

lowest price buy of the day for you, so far AJW

saw that and thought "pah - someone got theirs a fraction cheaper than me"

no, the more astute players, here will have recognised the opportunity, that the recent debacle over 16az has created and are buying now. The fear and uncertainty has collapsed the share price, however, the stock is currently underpinned by its fully funded, four drill program.

As we emerge from the recent upheaval and there is more clarity over 16az, then we will see the fear and uncertainty disappear, followed by share price appreciation as confidence returns.

You only really make the big gains, either by simply being in early, before good news, or buying when maximum pessimism is abound and the stock is low.

I see matey is using an oil drum to stand on - probably wouldn't get away with that in the Uk

new tweets out..
https://twitter.com/BlockEnergyplc?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

they are putting out decent tweets now and an rns could drop anyday, talking of oil shows. The stock is at its lowest and I have just added 97945 shares this morning.

liking the truth depends on your position regarding the consequences of the truth - that being, whether you benefit from it or not.

what they were saying in the half year report - pre 16az results

We are aiming for a gross initial flow rate of 325 bopd from the well, which would generate a free cash flow of approximately US $3.6m per annum, and payback well costs in less than six months (assuming a price of US $60 Brent). As a vertical well, 16a produced some 35 Mbbls when first on production during the Soviet era. According to Gustavson Associates (Source: CPR) West Rustavi's Middle Eocene reservoir holds 21 MMbbls of gross 2C contingent resources. Furthermore, the pressure has been bled off at a second West Rustavi well, number 38, which is now ready for re-entering and sidetracking, subject to results at well 16a.

We also look forward to appraising West Rustavi's legacy gas discoveries. According to the documentation the Company received on acquiring its interest in the licence one of West Rustavi's discovery wells flowed at rates up to 29,000 m per day when originally tested in 1988. Block has signed an offtake agreement with one of Georgia's largest private gas traders with robust infrastructure and scalability with the ability to handle large volumes.

lol fair point! orjones

andrea said, delivery would was expected to take place 90 days after the signing of the purchase agreement.

They could have easily paid for it at the time. I wonder if the company that they bought it from are even slower than zenith and there was nothing andrea could do about it - paid it up front and just had to wait.

well - jekyll - if the price does get discounted down to a penny, then if nothing fundamental has changed, then I will be loading up heavy here.

from rns - january 2018 over 18 months ago....
The New Workover Rig is designated as an A-100 truck-mounted workover rig. The model of the New Workover Rig has an extensive manufacturing history in Russian and Central Asian countries and is among the most heavily utilised workover rig variants in the region. The abundant availability of spare parts and mechanical support in the proximity of the Company's operations has played an important role in the selection of the New Workover Rig.

The use of the New Workover Rig will not be restricted to the Company's Azerbaijan operations.

Delivery of the New Workover rig is expected to take place ninety days from the signing of the purchase agreement contract.

The total value of the purchase agreement contract for the New Workover Rig is approximately CAD$440,218 (approximately £250,933).

Andrea Cattaneo, Chief Executive Officer of Zenith, commented:

"The Company is committed to strongly supporting the local economy of our host country. Azerbaijan has a long and successful history of manufacturing oil production equipment and machinery. Upon delivery, the New Workover Rig will join the Company's recently upgraded A-80 workover rig in performing field rehabilitation operations across the field."