Member Info for SimonT

Success with the first 2 drills will raise confidence for the last one though?! with only 160m shares in issue I don't think your huge rampy numbers are outside the realms of possibility! It is going to be a very exciting year!!

The fear of missing out is why people lose money! Lose the fear and start making money, wait for the bottom before buying. I cant understand why people have been buying all the way down from the spike, it is going to take months before more wells are drilled and tested and the gas take off infrastructure is in place to allow the wells to be put into production, flareing is only permitted during testing in Georgia. No news is not good news, I suspect 16az is shut in and the accounts for this year will still show a loss? Rome wasn't built in a day!

Bring on the verbal abuse, that seems the way of the holders here when someone has a contrary view?!

Unless the trade happened before the drop and was in fact the sell that caused it? Either way it doesn't matter but wrong to presume a delayed trade is as displayed, it was delayed for a reason!

There are exercised warrants forecast as eligible for sale today or tomorrow totalling about 650,000 shares so it could have been a chunk of that?

Don't they need gas infrastructure in place before 16az can go into production? I thought flaring the associated gas was only permissible during testing and not production.

No, looks like we were all wrong and you are right.

Why it quotes a price of $4.5/1000m3 and then $2.4/MMBtu is beyond me, they are wildly different!! Is one at source and the other the consumer cost?

Find the gas price and do your own figures.

Remember these figures are also gross revenue before any production sharing split with the GoG.

LoL. Yes my ex wife was definitely a multi nagger!!

Rocklawn, Block did put a time limit on some of the shares issued by the company at the time of listing, those shares are eligible to be sold from the 11th of this month, they were issued at 4p so holders could get nearly 300% more than that for them if they choose to sell? There are only a few million of them, but with this latest issue too it might be a while before the trading stabilises.

Because their business is not long term holdings, they flip the shares asap at a profit and use the money to do it all again next week with another placing with another company.

I don't imagine all the shares went to this type of service provider though?

I doubt there is any bad news that could have leaked Jim, it is more likely to be one of the companies who took shares in the placing off loading at a small profit now the issue of the second tranche of 66 million shares has been approved at the EGM today.

Looks like a buy but designated as a sell on this site?

https://www.ybs.co.uk/sharedealing/company/index.html?company=BLOE#view=trades

Thank you, it is nice to see some rational thinking expressed on here instead of the usual from the rose tinted brigade!

Anyone sitting in the red should maybe give some thought to whether they should listen to the rampers or the realists?! (often called derampers by those that bought to high on the back of rampers posts)

Question,, if the placing is conditional on a shareholder vote at the AGM and it goes ahead but the SP is below 11p, will the placing proceed or be done at an even lower price? I cant see anyone wanting to pay a premium to the SP.

Well I have to say that was a very well executed placing! I had suspected it might have been on the cards, a company as ambitious as Block growing organically from the small profits created by $1+m a month gross income before the split with the Georgians didn't seem to fit with their ambitious plans. Now they can crack on!! If the next few wells also exceed the expected 350bod then they could be onto a winner?! The institutions that took the shares must have reason to believe this will be the case! The TR1's will be interesting when the shares are issued!
The only question I have now is will the SP be marked down by the dilution when the shares are issued or will the MC be marked up?

Take no notice PrivateRyan, you do as you see fit! I got called a muppet on here too a week ago for suggesting 16.4p was an exit point not an entry! Who turned out to be the muppet!!
I am standing in line waiting for the bottom too!

Terrier, it was most likely a transfer into an ISA.

I am here too, i always read all the posts each day and sitting tight on a good chunk of shares! This is going to be huge, I think bigger than has been suggested!!

Thank you Sea7 and James,

Thank you for your explanation, that is a different understanding to mine, I was under the impression that the split during cost recovery was 50/50 and once costs were recovered it became 40/60 in favour of the GOG?

Can you help me with some figures, just doing some calcs, What is the cost of these drills and what is the companies monthly overheads?

I wouldn't imagine the warrants were exercised at 4p to sit on the shares when they can be sold at a 10p profit!
It was suggested in the rns that they would be released on or around the 8th so I would be expecting the other 2.6+m to hit the market in the next few days.