Member Info for Spudsoil

Looed, great work as always. Are you able to provide any positivity based on your interaction with a company representative, specifically around the liquidation for FRC? Catching up on this message board I’m getting increasingly nervous that end of October spells end of our investments, but much else of what I read suggest we are still in with a fight, and your note the other day about company interaction sits at the top of ‘reasons to believe’ list!

I dont see it like that. So much we don’t know but what we do know (Zaza still fighting and still lobbying) Gives me cause for optimism

There is still enough that I’ve heard to keep me optimistic. With everyone saying this will be all or nothing it would ironic if we got a shareholder payout equating to our mcap on the day we were suspended. Not sure if I’d be happy with that or not. I think my mental health needs a payout far in excess of that having been subjected to Zaza’s shareholder updates over the past 22 months.

Hi Tony, yes agreed. But he has acknowledged this and made reference to changing his approach in a pod cast he participated in a few months ago. So I am expecting any activity that is overseen by BLOe to fall in to line with his forecasts. COVID, Bago, GG could throw a spanner in the works but again you’d hope (!) that the info he is getting linked to all 3 of those variables is built in their project plan and associated timeframe.

Setting aside COVID for a moment, we’ve had Paul say q4 will be rich with news flow, so we’ve got 10 weeks to deliver that, And I don’t for a moment think he would promise that if it wasn’t realistic, given the over promise/under deliver updates we’ve had in past. I think we could be on a completely different level by q1. If we can secure development funding without dilution then share price will rocket. I am also tempering my enthusiasm with the realities of COVID And recognise that q4 could easily become q1 or even q2 if Georgia needs to tighten restrictions. As frustrating as that would be I also don’t think it’s the end of the world as monthly cash burn is low so on assumption same measures stay in place a few months longer wait is what it is - COVID is wrecking many a timeline.

https://total-market-solutions.com/2020/10/15/block-energy-october-2020/

Just listened to this. We are in for an exciting few months. Hopefully appreciation of what is coming down the track will spread to a wider pool of investors and we will see value emerge

Whatever is happening this news today feels significant one way or the other. It’s the most tangible sign of shareholders remaining in play, we just don’t know to what extent if any, but the mere mention of “return of capital” is the sort of language I want to hear.

Do you have a link to the article?

I’m not criticising anybody on this board who has done research. I am referring to all the donuts who lay in to people who have clearly done lots of research but present a view from that research that differs from what said donut wants to hear. I’ve learnt more from one of star rage’s posts than the 5000 that are sent in response criticising. Nowt wrong with being lazy and doing little research, (me) but then I’m not rude enough to criticise people who do. Anyway, just a point of view I’m making in a failed attempt to get the board to pull together during what feels like a big few months ahead. I’ll go back to reading the frontera archive now.

They are probably asking the same questions we are and getting impatient. Perfectly understandable and as much as covid has wreaked havoc it does feel that it can only be the reason for “delays” for a finite time and am sure most of us agree the end of that period is approaching if not already expired. PH stated “under promise and over deliver” in response to a question about gas hook up and confirmed H2 but wouldn’t be more specific. That was as far as I’m aware in his most recent interview and surely he can’t be naive enough to pledge another deadline and then miss it again, especially as the interview was done after the first wave of COVID with no apparent logistical issues rearing their head since (appreciating we won’t know all the local issues in Georgia).

Agreed. I also think with some of the innovative ways Block have got in to bed with industry heavy (or heavier) weights, I can see some similarly thoughtful ways to raising more funds. Don’t think a rights issue makes much sense at current mc

Thought that was a good interview, and some more direct and challenging questions rather than the usual nonsense served up. Future looks bright, albeit from a low starting point which means most of us are underwater

For those more knowledgeable about the workings of BLOE’s team - do we expect much of an update to be provided as part of AGM next week? Appreciate we are in care and maintenance bit wondered if our leader might take the opportunity to set out H2 plans in More detail.

1. Tarabini stays with FRR
2. Possible negotiations can now conclude around extension of license/sale of Tarabini which include valuable historical drill info.
3 we’ve got a ton of bills payable.

At least we are further forward in knowing arbitration result and that might expedite conclusion of other discussions which have a bearing on whether shareholders see anything from this.

I’m not referring to costs! I’m talking about revenue. Obviously there are costs offsetting the revenue, my point is if you can demonstrate revenue generation, and there is a profit margin there, then scalability is in play. A key question is how much the profit margin is and that’s where the operating costs come in. But not all costs go up as revenue goes up

Schlumberger 242 plus 155 from WR at $50 Brent minus transport. Rough calcs but you get the idea. Flex up and down dependent on oil price. This is revenue not net profit in highlighting. The point I’m making is it doesn’t take a huge amount of oil to generate decent revenue. And that’s when the finance options open up, assuming there is a scaleable plan.

II’m going to stay put until q4 and reassess then. I can’t see Brent staying below $40 for long, and think the sweet spot is nudging $50 as that keeps a lid on shale. $50 Brent gives us revenues of $6m pa from the oil we have plus the Schlumberger stuff we inherit. Get the gas hooked up and that’s more revenue, small amounts to start with but it’s the start and we can push on from there.
I understand the frustration here but I think a boost to global oil prices sees us in a much better place, both in terms of revenue, but also finance options. And who honestly thinks oil prices will be stuck under $40 much beyond this year? Shale is going off a cliff anyway, and will be dead and buried if no decent oil production cut is agreed or if Coronavirus stays longer than anticipated. 12 months time with a vaccine the world will be back on its feet and oil prices higher.

Brent at $50 in 6 months, has Hooked up. World looks a much better place

Positive messages from OPEC.

Geo - agreed that’s high on my list of options. Whatever we say about gas being the big boy, it’s clear that with less cash in bank than anticipated we are more heavily reliant on oil price than I’d realised. Still, we have the relative luxury of being able to time our oil sales in to what will hopefully be a more stable and sensibly priced marketplace. Not sure what others think but $40 dollar Brent for 6 months following any cuts that are agreed today and tomorrow would feel okay.