Member Info for SEA7

Yep gggg21,

low volume, price hitting low of the range, news due and delayed, is a good entry point.

Bought back in today - the criteria I have been waiting for was met.

Low volume - I was looking for less than 1m shares traded by lunchtime
Price between 10p and 11p.
support level of 10p not broken when low volume day in play.

This means that most of the sellers are done at this level and buyers are waiting for news.

partial position only though - with more funds ready for further weakness in the price.

No problem exmex - hard to find any info from schlum about their on site progress. Even in their financial reports released recently, they make no reference to georgia, directly, that I can find.

project is called...
OCC4 ESP Upgrade, Facilities Revamping Works and Piping Installation Service

the client Schlumberger Rustaveli Company Limited (Branch) – Georgia

question is... which of sch blocks are they on.

whilst schlumberger are very quite about what they are up to....

IDC Ltd, who are doing some work for them are not....

start date - may 2019
completion - july 2019

Earth works, ESP manifold and water injection manifolds support manufacturing and installation. Construction of reinforced concrete sump pit. Installation of road crossings (buried casing pipe). Installation of piping, valves and instrumentations (welding, flanged connections). Construction of HP pump manifold. UV test of LP and HB welded joints. Hydrotest of installed piping. Welding works for reconstruction of oil steel tanks. Reconstruction of various type vessels – cutting off old flanges and pipes and installation of new ones with welding. Tanks external surface blasting and painting. Thickness test and NDI. Hydrotest of tanks. Reconstruction and extension of steel shelter for pump. Arrangement of drainage around underground concrete pits, arrangement of underground drainage systems.

http://idc.ge/projects

yep thanks ezhik ATB also.

not yet ezhik - we have had two tests down to support at 10p. The trading patterns this morning, showed no selling at all in the lower of the 10p prices. The buying pushed the price up over 11.5p and straight away there is 3 x 100k sells at 11.44p.

10p is proving quite a solid support level so far and it does look as though there is still a large seller hitting the bid on every rise.

There is a high probability of retesting 10p again and maybe breaking through that support, unless there is news inbound.
There is the technical bounce element here, as the buyers have dried up at 11.7p and more sellers are appearing. Those that were buying in the 10.5p range are booking their 5% gain this week, so that will add to the short term pressure.

A break above 12p should confirm that this price action is not a false flag, otherwise we will see a return to the low 10's without news.

hillybilly,

yep -I used to have it a few years back also, however, as I generally was investing in or trading the seaq stocks at the time, L2 was useless, as it just showed where the market makers were and nothing else. Might have told you scap and wins on the offer at xx price for 25k lots, however, not how many 25k lots and never showed the order book.

I did use it for trading sets stocks, such as BT, as I could see the depth of the book and placed accordingly.

I also have made far more by holding a stock from a few months to years in some cases.!!!

hillybilly,

for that you need level 2

lse just report a buy or sell based on the mid price at the time the trade was executed.

parkez- that is called trading the morning gap.

If you see that there is a pick up in demand towards the end of the day, the stock is likely to open slightly higher, as players will enter premarket orders overnight to capture this. Quite often you see the buys, first thing, the stock is higher, moves up a bit more, then sells take it back down to the open or even below it, as the day traders who entered overnight orders exit by mid morning. As strange as it may seem, some stocks are always cheaper between 11am and 12pm - not guaranteed though!

setsqx..

The auction uncrossings are scheduled to take place at 8am, 9am, 11am, 2pm and 4:35pm. An execution in the final auction will set the security’s closing price for the day and generate a Closing Price Crossing Session, which provides a further trading opportunity to execute business at the closing auction price
......

all trades are reported, although some are late reported trades.

V111JAS,

Block energy trades via setsqx and which has an order book and a quote book, as sometimes it needs market maker quotes to maintain levels of trading.

This system allows investors to compete with market makers and take part in the auctions each day.

One thing to note about setsqx, there is no maximum spread, as is the case with sets, so you see the price jump around a lot more. Quite often, when you try to sell, the price offered is below the quoted price due to the wide spread.

The market makers seem to be ahead of the rest, not because of inside info, but because, in general they make the market and set the prices, you generally take them.

You can set your own price if you want, however, if it is too far away from the actual bid/offer then you won't get a fill in any of the auctions and you will be disclosing your intention to the market makers, who will be positioning accordingly, based on the order book they see.

One primary focus of the market maker is to fill the order from bigger clients. If they cannot fill, then the client goes elsewhere and they lose credibility in the market maker space. They will fill an order and then go searching in the market for the stock, if they haven't enough on hand - hence tree shakes etc.

They always intend to be holding as little of the stock as possible, although will maintain a "float" and ensure that at the end of the day, their book is squared.

mitons portfolio management is irrelevant to block energys, on the ground plans, workload and expectations. The only effect miton has is on the share price, if they are a persistent seller.

Miton would be best ignored by investors in this stock and monitored closely by traders.

yes, if PH and co, can get as much of the forward work done, then when the more permanent solution to flaring is communicated and implemented, there should a leap forward in the progress, as the project catches up with the work done in preparation. That could mean both wells going into full production at the same time, in a success case at 38, if it is sooner, rather than later.

thanks djm - i wouldn't have expected it to drag on indefinitely from a country perspective, however, locally and specific to block energy, this aspect to the forward programme does appear to be a critical point, in that not much else will happen until it is resolved.

Until Paul has in place the right solution that can be applied to all wells going forward, so as not to delay progress further down the line, then there might be some further losses in revenue, which will eat into that money raised and the corresponding drop in the share price.

The timelines that PH has communicated might have been somewhat ambitious with this loose end to tie up, still outstanding.

have they sorted the gas flaring issue yet- from what I understand, as soon as they restart production at 16az, they will have to shut it in again, as they only have limited permissions for flaring. I doubt PH will want to stop/start the well.

this may be the cause of the delay and unless they come up with a non flaring solution, then this may drag on for months.

swearing nige

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generally not worth bothering to put yourself at that kind of risk in my view. completely different matter, if the site is available without paying and content freely available to all.

nope, I am just not going into the details of the article on this BB as it is paid for content on another site.

I disagree - the article does explain why the writer takes the position he does.

The writer was spot on in his assessment regarding a spec buy on the stock last year and no one on this board was shouting that down. Although I suspect that those on this board now, hadn't heard of block energy last year. I hadn't heard of block until january of this year and bought in at 2.9p - I posted that on this board at the time - there weren't many of us posting back then.

I sold out of block at 15.66p as I felt it was pricey at the level it had reached. (I had made further purchases in the 7p - 10p range along the way and round tripped a few trades on short term retracements.)

I happen to agree with the sentiment and the facts in that article.

The article does raise a couple of salient points and just because a reader does not happen to agree with them, doesn't make them less valid.

I have to agree there Gary,

I carry out my own DD and do seek out independent viewpoints as well, however, ultimately I decide whether I think something is investable or not. After all, it is my money!