Member Info for SEA7

rocklawn

yep - we should remember that...

the y/e december 2020 showed a 299.68% increase in revenue and it should be remembered that this increase was over the period of the year, whereas the figure used to compare against was over 18 months to end december 2019.

the balance sheet shows a net asset value, with nothing in goodwill of £21.5 m - the current mcap is £16m

drilling is underway in proven oil/gas fields with infrastructure in place and cash available.

thanks maladoni -

nostradanus.

that is a fairly standard market response to any good news - you do see the initial spike, however, plenty will have taken positions earlier and will sell into it. Block did also raise a while ago and that was still being worked through.

aim is more akin to a casino - so you will have a lot of players who will simply trade the range and unless it actually rerates to a higher level on the back of news that is solid, it will be back down soon enough.

the sad fact is, that all this boardroom and major shareholder bickering is deflecting the market focus on the drill bit - and what do we see today, the stock is back down to 2.6 at the mid on low volume. Who benefits from a low share price - those getting shares in lieu of salary and those accumulating in the background.

the better story here is that the stock is intentionally being made toxic, so that as many panicky retail holders sell out at these lows and the speculative pros and others buy up the stock with a view to unloading into the next rise.

there has been no change in the operational nature of progress, but the stock is down again - says it all really - the fear campaign is working

nostrandanus

by rights only posts that directly accuse them of something, that has no supporting evidence should be removed, for obvious reasons, however, speculation and discussion of angles, rumours, scenarios and potential plans/outcomes is what these boards are about. No posts should be deleted, that remain firmly in the non accusatory area of free speech.

if they are then they are creating more speculation that they may have something to hide - if there was no basis to any of the speculation on these boards, then they would simply laugh it off and ignore it all, as the mindless ramblings of bulletin board "gurus".

I am even surprised that scirrocco felt the need to waste the money on an RNS denying and deflecting the rumours on a bulletin board which has done nothing more than to increase the view that something is up.

trying to state that F and F are independent of each other, may be factual in the fact that their individual shareholdings in block are in their own separate investment vehicles , but it won't stop the speculation that as they are both involved in scirrocco, that they will be discussing block and its future etc over coffee at meetings.

trouble is, that if one post gets reported and deleted, it takes the whole thread with it.

seen it so many times on this site ... i suspect they do not have the functionality to delete a post and not a thread.

well said V111JAS

trust and integrity is key when it comes to companies on this market.

You only have to look at some other stocks that have market caps far higher, with much less prospects and cash than block where the management has the trust of the market.

big companies like BP etc, can hide an underperforming board member or can bat away errors because of their size and the trust in the brand. Block energy does not have such luxury and is reliant on delivering as indicated - PH failed miserably at this in the early days, however, is regaining market trust slowly .

This latest shenanigan isn't doing the company profile any good in market eyes- ....... we simply see it as "trouble at the mill"

Aim's army of retail players are wary of this stock due to its performance and comms so far.

To be fair PH is doing a decent job of trying to recover that trust, by delivering operational performance, however, that trust will be eroded again, if we do not get well production data and figures - Block is not BP or any other major that can get away with far more.

three most important things in an AIM company - Management, Management and Management. This dimmock issue needs resolving soon and the way forward communicated or this stock will be thrown to the sidelines even more so by market participants.

If schlum were concerned over the integrity of their asset that they have effectively hived off to block, but not actually let go of, they would excercise all 120m options in one go and then set about, influencing the decisions being made at the company more than they are.

It is possible that they have already spoken about progress, issues, etc and we will be none the wiser - the fact that they aren't doing anything indicates that they are likely to allow things to play out to their natural conclusion.

all the while this boardroom bickering goes on the oil and gas are still being pumped out, drilling is still underway, geologic analysis is still being undertaken and boots on the ground are still working away.

new contract with singapore zoo

text of same article in evening standard...

https://www.standard.co.uk/news/uk/serious-fraud-office-royal-courts-of-justice-wood-justice-us-department-of-justice-b943894.html

The SFO said the DPA concludes its investigation “into suspected bribery and corruption within the legacy Foster Wheeler and Amec Foster Wheeler businesses as far as the corporate entities are concerned”.

But it added that its “investigation into the conduct of individual suspects continues” and the court heard on Friday that it expected to “reach charging decisions in the next three months”.

The deal is part of a 177 million US dollar (£128 million) global settlement with the SFO, the US Department of Justice and Securities and Exchange Commission and the Brazilian authorities.

Lisa Osofsky, the director of the SFO, said: “Over a period of 18 years, Foster Wheeler brazenly and calculatedly paid bribes to officials around the world to cut corners and secure contracts, going to great lengths to conceal its corrupt conduct.

Amec Foster Wheeler Energy moves to settle historic corruption allegations involving middlemen around the world

https://www.ft.com/content/b1573e7a-efa5-48a9-a305-34c83bbb7f88

well they state that they are in the business of preserving the cash they have, so I would not expect them to fritter it away on expensive analysis of countless projects which they subsequently turn down.

my view would be about 10% over the course of the 12 months since listing, however, i would like to see them structure a deal, whereby any asset they buy, is transferred at zero cost to afentra, however, aftentra would commit to spending a certain amount to get the asset up to speed, with the seller adequately compensated from future production returns and not from the current aftentra cash pile.

15 seconds of research tells you the following from the launch of afentra rns dated 5th may 2021...

The team is actively screening a pipeline of opportunities, consistent with the strategy and aims to announce a transaction within the next 12 months.
.......

so, the stock sits just above cash value and it will not move until a deal is announced,sometime in the next ten months - buy now, tuck away and wait - this isnt a day trade

published an hour ago.

SFO ordered to reveal potentially ‘improper’ contacts with fixer

Court of Appeal judge says ‘very serious abuses of power’ are alleged against agency

https://www.ft.com/content/08b2eac1-63fd-4949-af13-ababa2c518fb

what can be deduced from this is that the fog of "who is ultimately responsible" for the mess of Block over the recent year or so, is clearing and Mr Dimmock is appearing in focus - those who are clearly more appraised of the situation voted for him not to be elected again - that action speaks volumes and it would be in his interests to move on of his own free will, as he doesn't have the support of the larger shareholders .

i note that the Valaris 107 jack up is currently contracted to sampura from may to june of this year and then to Jadestone until end October - this is four drills - eagle 1 for sampura, which has just finished or should have, then to Jadestone for the montara infil development drill and workover of two skua subsea wells - contract ends Oct 21. Location Australia for all drills

https://s23.q4cdn.com/956522167/files/doc_news/2021/05/5.3.2021-Valaris-Fleet-Status-Report.pdf

perhaps we are getting the Valaris 107 jack up then?

it hasn't been missed - it will be on plenty of watchlists - just to soon for some traders - get nearer spud and post spud then we will be in the midst of a much busier board and a higher price.

yes - i agree and whilst it is water under the bridge - i trust PH has learnt from it!