Member Info for SEA7

no they are buys faze1 -

what we are simply seeing is that the sell side supply is slightly higher than current buying support - once the seller has exhausted their supply the price will move back up again. If it is a significant seller, then we should see an acceleration of selling as they close to exit.

The company has had a change in fortunes for the better, expect the underlying investor base to shift to reflect this - natural churn, profit taking an new holders arriving - this stock will be volatile for weeks, if not months, with w38 due to spud and updates, along with production increases to come.

High volumes, high volatility - traders and market makers dream.

no they are buys faze1 -

what we are simply seeing is that the sell side supply is slightly higher than current buying support - once the seller has exhausted their supply the price will move back up again. If it is a significant seller, then we should see an acceleration of selling as they close to exit.

The company has had a change in fortunes for the better, expect the underlying investor base to shift to reflect this - natural churn, profit taking an new holders arriving - this stock will be volatile for weeks, if not months, with w38 due to spud and updates, along with production increases to come.

High volumes, high volatility - traders and market makers dream.

pawn,

in aim it is always wise to look for reasons not to invest - I do and has saved me from many a pifall in this "casino" of a market.

Block is shaping up to be one of the few outliers on Aim - so far!

Morning Ezhik - yes, it is very beneficial to block with the locals on board in this regard and no doubt keen to profit themselves.

This well is set to pay back in a couple of months now and they are revising all their forward expectations etc.

I would not be surprised to see interest in this stock from a mid tier player looking to add reserves from the market, rather than the ground.

I see the costs of setting up gas infrastructure is zero to block....

Finally, Block revealed that associated gas production from 16aZ will be sold to Bago – one of Georgia’s most significant private gas suppliers and purchasers. The company signed an MoU with Bago last year for the offtake of all of West Rustavi’s gas, subject to a minimum of 1,000m3 of gas a day. As part of the deal, Bago will finance all required gas infrastructure for the field. This could include pipeline tie backs to local infrastructure and gas processing plant solutions.

Block said the agreement opens up additional annualised revenues of c.$1m through the sales of 16aZ’s 14,000m3/d of gas. Bago is expected to start buying the gas within eight weeks of signing contracts – it is currently sampling production from the well.

on 700 bopd, plus 60 bopd from the other fields, we are looking at about £10m pa on net backs.

about £27k a day.

another 500k late trade, which was over the offer price when it was actually printed.

Nh - the only thing they achieved today, was increasing the journey times of commuters and others, who had to take a longer route, which increased the emissions from the cars due to the longer journeys. Clowns.

I guess not one of them will be willing to give up those mobile phones, which had intensive mining taking place in a far away country to get the raw minerals to create the phone in the first place. How many walked to London - bet they were all driven in by mummy in the 4 x 4.

rant over - extinction rebellion - pah!

extinction rebellion - idiots who should try protesting in china or india, as those countries create more pollution than the UK could ever do. Of course they are too scared to do that.

yep - haven't forgotten that AJW - thanks for reminding about the processing capacity constraints at this time.

NH -

we had 4p support at 60bopd with expectation.
we saw a support level created at 8p after the initial well result over the trading days afterwards - with expectation.

It will take a few trading days to establish a new support level after the confirmation of 700bopd, with expectations of moving back up in due course to 1100bopd and expectations of a new detailed strategy going forwards.

We are sitting at 10p-11p due to being at confirmed 700bopd (8p was fair for 325bopd)

Once the full effect of traders have left the current move and stock churn calms down again, I would expect us to see support at 10p, initially and then over the coming weeks, we should really be moving towards a 15p support level, as newsflow increases on forward plans.

The market maker at 10.40 did get filled and moved off, positioning lower, which revealed the next highest bid which was 9.7p.

This has the habit of triggering stop losses on trades and then a market maker will take up a position higher, as was the case and the bid moved back to 10p, then 10.4p

Simple trick to flush out some stop loss trades. Nothing more, in a fast moving market like this.
Whilst no trades at 9.7p showed up, I bet it took out some spreadbets. Do not forget, the MM's go short to cover, as well, even if it is just a small, temporary move.

they sold them at 11.55 today - long since been mopped up by fresh buyers.

with w38 lined up next, which potentially could deliver the same type of result, then they will be delivering the current cap in netback cash each year.

There will be larger players looking at this company as a nice addition to their portfolios of producers now and at these prices, it is very vulnerable to acquisition.

yep revenue on 1100bopd is about £21m pa and with a mcap of £30m it is still undervalued.

Netbacks on 1100bopd is about £15m a year and we should, at least be trading at 3 x that figure for the mcap, without norio or W38 or 608bcf of gas.

Baseline should be formed at £45m mcap or 16p to 17p a share - no less.

If someone was considering a takeover off the back of this, they would begin at 3 x earnings as the starter - that is 16.5p per share on 1100bopd

sp angel...

In a note to clients, analysts at SPAngel said: “We believe that whatever results come next for the Company with regards to its asset base, it is has demonstrated that not only can you do business in Georgia, but that Block has gathered the necessary team to assess, and subject to successful appraisal, unlock that value.”

They added: “We believe that shareholders should be pleased with today's results, especially for the signpost that today's well result suggests for West Rustavi.”

not that I am selling any - as we are about to drill.

There is a buyer in the background here - I can sell in size at 3.07, despite nearly a million sold at 3p, around lunchtime.

thanks all, I booked excellent gains at BLOE last week, then reopened a position on monday at 8p and just under 8p - still holding there.

I hold more in zen though and we are due to drill

500k late buy showed up