Member Info for Spudsoil

Why end of April? It’s been 8 weeks since the mid January announcement which confirmed that details of the 2021 drilling programme would be released in next few weeks. I’m expecting something imminently

That should read, I’m not suggesting we are going to be lied to!

What are we thinking blockheads? I was expecting an ops update a week or so ago, hoping this week as the 2021 drilling season surely needs to be announced sooner rather than later?

I’m confused by Malcy’s comments. He is suggesting there is some real tension among major shareholders but at the same time highlighting PHs buys as a sign of good things to come? Anyone shed any light?

I’m thinking an RNS ops update next week. Would be crass to drop it now straight after his purchase so my guess is next week as we are overdue on a few fronts

I am delighted to see PH increase his holding and amazed it hasn’t had more impact on the share price. I’ve added significantly today and the ask was lower than quoted so happy to sit alongside fellow shareholders who are company directors. Confidence growing everyday that this is becoming a well run slicker operation. My ask is that the communication with shareholders improves as I think that is contributing to the distrust (me included) but purchasing stock in a company you run is the best vote of confidence one can give

I’m starting to think the ongoing political shenanigans in Georgia is having more of an impact on Block than I first thought. The lack of interest in the share (look at the low volumes) is surely linked to potential shareholders being wary of investing at this time with the uncertain backdrop. Everything else with the company is looking strong so whilst we need the confirmation of drill plans, invoices paid etc I do think a settling of the political situation may have more of an impact.

With recent Tennyson note forecasting activity to begin soon I’m predicting an RnS early this week, and riding off the back of the high oil price this should bring extra interest from future shareholders and hopefully set a fire under our share price. Been a long and painful wait but the sustained climb north has to start happening soon, and this week should kick it off.

Hopefully our next update will be perfectly timed to ride the sector optimism and land early next week. Think this will pop at some point soon and in a flash we will be well north of 3p. We need confirmation funds have landed from BAGO or at least an invoice issued, drilling plans and (hopefully) some sort of hedging strategy for oil sales.

As the oil market heats up we need to chill out. By the day this becomes a more stable company, without doubt there is an RNS in the wings, and the tennyson report when it is made public will raise the profile. If oil is sniffing around 70 for much of 2021 our SP will easily hit double figures

Can someone help me understand why Block wouldn’t promote this coverage note but are happy to tweet about the price of oil? This is the best coverage we have had in years and sets out in a ton of detail what our plans are.
I’m assuming some of this detail will be RNSd next week, it just surprises me that the PR team aren’t all over this, shoving in on to anyone and everyone’s radar. It dispels any nervousness about a short term fund raise and highlights significant free cash flow opportunities if the oil price remains steady. This is huge for us, so why isn’t it being shouted about from the Block rooftops?!

Linked to strength of sterling? Not sure but surely we turn a corner soon, this is crazy

Sorry to hear that but potentially this answers the conundrum around why the SP weakness after such positive update

Hi DBurton. When you next speak with Block can you ask about their hedging strategy for oil sales? I’d be really keen to understand what insurance policy we are taking out to protect our income stream over the next 24 months as we enter a phase of critical growth. Much appreciated.

Good summary. The sp action over past week has surprised me, but maybe it’s a combo of ‘show me the money’ which happens once we get the first payment from BAGO, plus an overhang from the placing. I can’t see how a company generating this sort of income with an additional 5m in the bank sitting at 20m MCAp for much longer.

Any thoughts about locking in the buoyant oil price by hedging oil sales? Do we know what the appetite from Block is to do this? Everyone will have their own views on where the price is going but I would happily lock in current oil price minus hedging fees for the bulk of our production. It will provide huge certainty around our ability to break even over the next 12 months during our expansion plans. I know the big boys hedge, anyone know of Block will be tempted?

A cracking update, the future looks bright. Share price appreciation will undoubtedly follow, whether it’s today, tomorrow or weeks down the line who knows. But if we maintain this level of production as a baseline, then successful new drills is when things start to get really interesting.

20p+ is 130m+ market cap - would love to get there in 12 months - you think that’s realistic- genuinely?

My gut is telling me this week is a big one for our future. The switching on of the gas is a symbolic moment, not so much for the instant monetary hit, but for what it says about our ability to scale up. 4 more wells to match the capacity of the gas processor and then who knows what after that. Everything should get easier from this point as we’ve done the groundwork, literally.
My gut also tells me I’ve eaten too much this weekend.

Agreed, there’s a stonking appetite to take shares so can only think a big buy order being worked through, knowing that the placing overhang creates some weakness