Member Info for SimonT

And then take the PSA into account so you don't continue to mislead!

The placing was for the drilling but what will the central processing facility cost and will they need additional funding for that?

My understanding is that Bago are only paying for connections from this?

Its your call Bill, If I was as certain as I could be that a price was going to drop I would sell and rebuy regardless of my present position, red or black. Its a gamble but so is all of AIM.

There is still a little uncertainty as to which way the price will go with the AGM being this morning, if any improvement at 16 is announced it will strengthen the price, although they have had the chance with 2 RNS's already today to release that sort of news so the chances are slim. No new news at the AGM and the slide will gather pace. I am sure if there was anything positive regarding 16 to release they would have done so prior to the AGM to ensure their resolutions get passed, like PH remaining as CEO for another term etc.
Bill, even if I was sitting on a loss I would trade this opportunity to buy more back at a lower price, if no new news is released today that is? But each to their own strategy.

Forced 100k seller? total supposition!

I would suggest savy investor?! This has risen 100% on the run up to this ops update which was expected as it was forecast 2 weeks ago. It is now clear sustainable flow rates could be weeks away as they wont rush to tell the market anything prematurely like last time and it is unlikely the SP will hold up at this level over all that period.

We do have one thing in common, neither of us are sitting on a loss!! :-)

Anyone complaining about Mike has the board to blame, he said a few days ago he would post less, and was then poked and antagonised for the rest of the day so he started posting again! Give em both barrels Mike they deserve it!!

On the RNS, I am sure Bloe have learned that the initial flows rapidly decline in a lot of Georgian wells and wont make the same mistake of announcing the flow rates until they are stable and sustainable, I would expect at least several weeks to get to that point?
And they are now referring to 16az as an appraisal well?

per 1mcm! 1000mcm would be a million cubic meters and around Djm's figure!

Djm, 1mcm (1000 cubic meter) or 35,314 cubic feet would earn $185.40 per day per 1000mcm. Your earnings figure is 1000x too high. That's a very good price for well head gas, above the normal price!

I know exactly what you meant, you were having a dig at Matd not having a production licence, why doesn't everyone drop the playground mines bigger than yours mentality and comparisons?!! Mike has made some valid points and called this right from the beginning where as AJW was touting this as a strong buy all the way from 17p down to the bottom and has probably caused many people to lose money or be sitting on losses, apparently he feels sorry for them, he should feel guilty!!
And,,
Mike, things only need to be said once!!!

Lets get this board back to somewhere Bloe would be happy to point potential investors!! instead of the farce that is!!

Calm down! Very high chance of oil yes but open the taps and move on? Only if there is no gas! If there is associated gas coming out with the oil then after testing the well it will have to be shut in until the gas take off is dealt with. Lots of Gas might speed up a deal with Bago? but it will still be months before the taps are opened and left open.

Ajw, I bet you wish you were as good an investor as Mike! your bitterness shows!! Very sad! :-)

Maybe a share purchase by the bod after the price drop that some are blaming on the bod would be seen as an engineered drop for their own gain? I would imagine this is why their advisors advised against it?

So how I should have worded my original post was the 6 day average was the best they could publish " at that time"
News of how things have progressed at 16 since that ops update is what we are all waiting on now. I don't suppose they will be rushing out flow results on 38 until it has stabilised though!

Yes good point, it could by the same logic be presumed that if a short sample of the most recent figures were the best they could use then it may have been increasing or they had optimised it?

No worries, easy mistake!
The worrying thing about that RNS is that it was a doom and gloom fessing up RNS that the company didn't want to have to release! So using a production sample of only 6 days which quoted 51 Bopd must have been the very highest sample they could muster. If using 2 weeks, a month or 2 months would have given them an higher average to publish then they would have done so! So with some certainty we can say that the longer term average is below 51 Bopd!

From 17 to 23 September production averaged a choked-back rate of 230 bbls/d of liquid at an average water cut of 78%.

Did you skip school?

with 25 and 51 barrels they are not breaking even Sea7, you know full well the gas is not being monetised, or did I miss that RNS?! And they will have eaten into that £11m quite a bit over the past 4 months! However at this market cap the valuation is becoming realistic but it still could go either way, only sustainable flow figures will make a difference here now and they are a way off yet!

No they weren't, my mistake, it was May when they released them on consecutive days.

Operations updates have been included with the quarterly financials before, they were last Nov, and with so much news close it makes sense to release it all together.