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Watched it properly last night and feel a bit more positive, although the phrase "Not too distant future" does a lot of work! I do wonder if they'd just concentrated on developing P1 shareholders would be in a better place as we stand, the market just isn't listening to these moonshot concepts and the strategy of just treading water on P1 is also failing to impress.

I think there has just been too many false dawns. On P1 the slim hole technology if successful had the scope to be rolled out across P1 and PII but now it is just to maintain production at current levels. We first heard years ago that PII could be exploited with low cost interventions but we now seem to need help with that. We've invested in proving a mind boggling CCS opportunity but never mentioned there were legislative issues until now, for me Gabon raises more questions than answers with the additional complexity of being offshore - who believes PH that we won't need to raise again? Sorry I won't be winning any popularity contests this morning but those asking for patience are probably newcomers and LTH's know the blue sky thinking was initiated some seven years ago.

Thanks all who answered my on the road question. Back home now and reflecting and can't help feeling shocked that a presentation of our investment case results in 3 trades, is it now possibly undeniable that PH is toxic to the business?

On the road and kept losing signal - did he say anything about P1 production following slim hole drilling?

Had this underneath the bottom drawer following the disappointments of the past but the prospect of production got me interested again. Not going to say anything that could get me into trouble but this deal is so utterly, bewilderingly dismal that I've drawn some very grave conclusions that I'll keep to myself.

What is your reasoning on that Bowzerman? Personally I think next news (other than Final Results) will be additional partnerships on the CCS project, whether that will move the price or not who knows? If the slim hole drilling was a material success rather than a 'technical success' it would have limited financial impact on the year ending Dec 25. Should it have proved very promising and demonstrated a proven method to impact production across our licenses then looking forward Final Results could be SP enhancing.

"Follow the money" is probably an overworked phrase in investing given that it derives from investigative journalism into political corruption but I think it has relevance to today's RNS. One of the few things I remember from my schoolboy economics is opportunity cost, meaning Tejara should weigh up every other possibility of investing this capital before choosing BLOE. Certainly I've been in enough equities in my time to know that the institutions don't always get it right but it's an endorsement of the Block investment case that they've attracted these guys in. Time will tell, I still have concerns that the near term impact of poor current production will overshadow the moonshot farm ins. Who knows, maybe the slim hole experiment has been a resounding success but as they laid out they were never going to tell us on a well by well basis......

Sure Heps it's been a big disappointment for me that we haven't heard more about the slim hole drilling. When they spudded KRT-39ST this was commented, "As announced on the 12th August 2025, KRT-39ST is being drilled as a pilot of the new 'slim hole' technology, which sees the well being drilled and completed for approximately 40% of the cost of Block's previous 'conventional' sidetracks. Should the pilot be successful, the technology has scope for application on both Project I and Project II". The fact that the news blackout started with no information on the impact of the drill let alone any indication that it has indeed been rolled out across the P1 & P2 licenses makes it difficult not to conclude that it wasn't resounding success. As you say they will not be able to brush it under the carpet in the annual report.

Don't we have independent validification of the CCS?

22nd Dec - "The next stage in the project is to refine the current storage estimates as well as the annual CO2 injection potential of the project and to work to receive independent certification of the permanent storage".

16th Feb - "Block Energy plc, the production and development company focused on Georgia, is pleased to announce that the Carbon Capture Storage ("CCS") Pilot Study at the Patardzeuli Field has been successfully completed. A report, prepared by Oilfield Production Consultants ("OPC"), confirms the technical viability of permanent carbon storage at the site".

Yesterday after hours at a premium to the closing price, plus sp jumps in the morning I'd say a buy.

Industry attention:

https://www.upstreamonline.com/exploration/london-listed-junior-makes-foray-into-gabon/2-1-1981942

Possibly sonic and reflecting on today's news I have mixed feelings. Without deconstructing every project it's fair to say we have multiple moonshot opportunities but in the here and now even the presentation admits that P1 Project I is still "The immediate cash engine rather than the headline

valuation driver". Trouble is they won't tell us how that cash engine is getting on so the market is being asked to buy into mind boggling prospects without knowing how the foundations are holding up. Hope genuine holders won't be vexed by this post, just an honest appraisal of where we are.

Interesting Bobbby I missed that on first skim re. CCS "Advance EBRD entry and move toward FID".

"The European Bank for Reconstruction and Development (EBRD) was originally established to help build a new, post-Cold War era in central and eastern Europe, but because of its success has now expanded operations into three continents. It has played a historic role and gained unique expertise in fostering change, with a particular focus on developing the private sector and in green investments. The Bank has invested more than €220 billion in over 7,800 projects".

I see in the presentation they're already talking about a Gabon farm out, pretty obvious where this is going:

BEIJING, April 19 2023 -- Chinese President Xi Jinping held talks with President of the Gabonese Republic Ali Bongo Ondimba, who is on a state visit to China, in Beijing on Wednesday.

The two heads of state decided to upgrade the comprehensive cooperative partnership between the two countries to a "comprehensive strategic cooperative partnership."

Xi called President Bongo "an old friend" of the Chinese people. Bongo is the first African head of state visiting China after Xi was reelected as the Chinese president. It fully demonstrates the importance and high level of China-Gabon relations, said Xi.

Strategic diversification away from Georgia looks pragmatic to me. Nobody likes a placing but if we'd have been told as recently as the end of last year that a book build and retail offer would be gobbled up at at 1.1p to fund a new venture I think most of us would have taken it.

Haha Mal I was starting to worry that I was the only one reminded of the controversial move. I even looked it up but won't repeat its description for fear of legal action.

Is it just me who is reminded of a notorious Michael Jackson dance move from four of the pictured?

Must be the Sanning Energy signing ceremony or the cart is in front of the horse in terms of the social media / RNS comms.

Just recalled the time PH was photographed with management from CNPC in Georgia. These guys are the largest O&G company in China.

https://www.blockenergy.co.uk/media/gallery/

Sure Chesh I have never heard a definitive convincing explanation for these sort of patterns. Just to add to the hogwash lot's of 9 and 1 trades, AI reckons there is a code 911, must be true :)