Member Info for SEA7

exactly nuba,

CBD is already available in products and in UK stores under other brand names - HNR's zoetic is not a first mover.
They are competing with many hemp product players that are established.

holland and barrett have countless CBD products on sale.

yes gary - nothing like seeing someone who self elevates themselves, only to be slapped down with facts and then sent scurrying away, back under its bridge, where all trolls belong.

@always

I am assuming that you are claiming to be one of the big boys then - such a childish, primary school expression.
I haven't used that since I was about six years old.

looks like my "guess" was accurate as the bid is now 6.4p as expected.

@always..

glad to hear that - it is fortunate that I posted it, as you appeared to be struggling with the basics of understanding sentiment, so glad I could have helped.

still, it got some posts on the board to see if there was in fact, anyone actually monitoring this board today.

obviously, alwaysbeclosing is currently stuck in a loss making open position and has the right hump, hence the tetchey, sarky nature of its posts.

not so much prediction, more talking about direction of travel, based on sentiment.

The fact that the offer is so close to the bid is an indication of weakness in the prices.

@Spartacus - yep definitely, however, HNR is currently going in two different directions, they are entering a period of uncertainty, with the comments today from RP regarding letting licences lapse - that is the first step in exiting the O and G business.

CBD investors will keep this on the watch list, however, there is likely to be a fund raise, with any name change and re-organisation.

That 7.5% interest in oil will be sold soon, no doubt - which should mean that a fundraise could be put off.

i have watched this stock for ages and it is fundamentally changing.

As soon as they announced the zoetic move, the writing was on the wall for all the O and G business. They will slowly but surely talk down all their O and G assets and exit them. They will be end up being a pure play CBD stock. There will be a a name change to reflect this and the BOD will change substantially, to align the companies board, with its new direction.

The stock will also be sold off further by Oil and Gas investors, who are not interested in CBD.

There is likely to be further downside here.

bid is 6.5p/offer is 6.55p.

Thin market today, risk on elsewhere and block being sold off a bit, as players look to recoup elsewhere and buy back here, lower.

I expect 6.4 bid/6.5p offer soon, without buy side support.

chairman said - later this month for zj40 drilling rig to 38, so they have nine trading days to confirm, before this month is finished.

yep they investigating potential service trading issues at the lse

thank gary,

yep I only have a small holding in zenith, after I sold 2/3rds at a profit. The last lot, is underwater at the moment, however, they are drilling - see what happens.

I sold the whole lot of bloe at 15.6p and have re-opened my position, when the stock got back to 10p - bit early, however, I have added in the 8's and 7's and now looking for lots in the 6's - which I might take some today.

The chairman stated "later this month" for the drill to move to 38, so that is within two weeks. - we should see a decent uptick on that later.

They would be wise to get some actual production rates out on 16az before they start talking about production on 38, as no one will believe them until 16az is clarified. The share price will not rerate until the market is clear on what 16az is doing, what they are planning at 38 to incorporate any lessons learned.

gary,

well, if the market is indicating a proper downturn, then managed futures, can always do a decent turn in a down market, although they aren't much good in real volatility where no trend is evident.

Gold miners usually get slammed down in any initial market slump, along with everything else, however, they are first out of the traps when it comes to the upswing.

Gold bullion has run up quickly, however, there is good support for it, when you look around at the reasons why. Sure it may sell off also, in an initial slump as people dash for cash , close positions, support margin calls etc, etc, however, it will bounce quickly as those gold ETF's get inflows.

T-bills were always good for downtrends, however, with so little yield, you might as well hold cash.

Personally, I am stacked in money market funds, short term bonds, cash, a decent exposure to gold via an equity, plus two oilers - block and zenith. I exited all other equity positions, many months ago. I was getting an exposure to gold, when the price hit $1050 a couple of years back and have just left it there. I tapered off the buying pattern into the gold sector about a year ago and have only added on the odd occasion since.

Not everything goes down, as companies issuing decent news will buck the trend, albeit somewhat muted, than it would be in a rising market, hence my holding here.

cannot hide in equities in a market slump, so I pick equities that have a good programme, should be able to deliver on it and most importantly, will still be around, after any real market rout.

whilst i do hold a lot in cash now, I am still invested here and as bloe have funds to deliver on their program, they can continue with the work, irrespective of any market moves, which will affect the share price here - I will be buying up more
of this, if it slumps with everything else.

look around the rest of the market - it is dropping and there is red all over the place. The ftse is just over 7000 - it is down nearly 10% off the recent highs.

People are selling out of stocks and not just bloe.

Markets around the world are dropping - yields inverting and gold moving higher.

I was going to buy more today, however, will see if it drops a bit more tomorrow, before the weekend.

nice pic of the security fencing at w38 - to keep us busy, whilst we wait for flow rates!

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

thanks pompeyrod,

it would be better if the board starts to focus on everything else and then we can revisit the subject of 16az flow rates once published.

This company is more than a one trick pony.

madmanrob,

when this hit 15p, I decided to sell, however, never took the stock off the watchlist, as I can see what they are trying to achieve. I felt that at 15p it has overshot, where it should be. Obviously it continued to 17p.

The market, felt that they had hit a gusher and that it was only choked back, because of storage constraints. I, along with others, thought that it was pumping at 700bopd. When I saw the omission in the may presentation about flow rates at 16az, whereas norio and satskheni were included, I commented here about it.

Most holders on this board felt that I was mistaken and that the company would RNS any change to the status of the well.

I would not commit to buying my stake back until that point, re the missing flow rate of 700bopd from the presentation was cleared up.

The company never cleared that point up and it didn't become apparent that the well wasn't pumping until the july 1st rns.

PH may have felt that testing/pumping/opening/closing/changing chokes sizes etc, didn't need an rns, however, he has clearly been wrongfooted here and is now paying the price, with reduced credibility.

What does it mean for us - well, those holding from higher up, are quite rightly annoyed, however, it is not a show stopper.
The well will go on production, at whatever rate it is at and we continue with the programme. As long as PH has realised his error and going forwards, we see a less ebullient performance from him and he sticks to the facts, then those holding from higher up, should still do well also.

My view, yeah he effed it up, PR wise, however, I hold more than I did before, even if I bought it all at nearly half what I sold it for, as I am confident in the plan and Pauls newly found desire to get it right.

if AIM regulation are publicly announcing, via a poster on this BB that they are investigating alleged discrepancies in a company's Investor relations, then where is the RNS from the company, stating that they have received a notification from
the AIM regulator of an investigation into alleged irregularities in its communication with the market.

anyone who researched the area and read up on what canargo said when they were in this patch (they were mentioned in this interview), knows that they had wells pumping at over 1000bopd initially, then put them on production at 500bopd, after experts at the time, recommended that level, as the optimum rate for longevity and integrity.

I expected 325bopd, got 1100 on testing, compared against ninotsminda with canargo and decided that 500bopd is the most likely, long term rate.

We were told 295 at the last update and that it was increasing - I am not expecting anything more than 500bopd, plus gas.

it should also be noted, that malcy, who has quite the following, also has the hump, because PH didn't return his call immediately and it took a couple of weeks before PH could be bothered to speak with him.

Malcy knows that he has an audience that listens to him and has poured scorn on the company because they didn't jump to the phone immediately and speak with him.

The share price comes down and which, will fuel his opinion of his influence in this space.

nothing like dragging it out