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Exactly Tony. Current Mkt cap 17Mil assets worth £30mil (as it stands) not including this drill and the 2nd drill they were only going to go ahead with if the first drill was a success.. Christ I hope it goes down 10% just so you side liners get onboard... This is aim FFS look at some 7dig as a pos example lol we are on the cusp of potentially something transformation schlumberger ain't gonna want 29% of nothing...... Oh that coming up soon as well
From the 7th April Q1 RNS 'If successful, Block has identified a number of options for the second well in its work programme but will await results from the well at WR-BA before making a final decision. In the success case with the well at WR-BA, Block Energy will progress with the drilling of a well at WR-BB location, which would access a further volume of oil and gas in the West Rustavi Middle Eocene core area.'
From today's interim's 'Two-well programme progressing, with WR-B1a well, spudded in June 2021, currently testing and preparations for the second well underway' looks good to me hold for gold not long now.
Chart is shaping up nicely as well GLA.
Stav
Ever the negative spin... new chapter with heavy weight partners which is about to bear fruit. This absolute bargain basement for what they have. Worst case scenario no oil from the current well they already confirmed current product is covering 95% of corporate spend which means we will now be in profit thanks to the current oil/gas price. Not long to wait
Hope so Rocklawn got a lot in this feeling very confident. PH mentioned in one of his recent interviews that the current well was being drilled with baker Hughes Well assurance hxxps://Xxx.bakerhughes.com/oilfield-services-digital/well-construction/welllink-assurance
The baker Hughes partnership gives huge confidence. The fact they are talking about the second well location would suggest we have hit gold it's just a matter of how much..
GLA Stav
Can't believe we are back at my buy in price.
Current mkt cap is 17mil if the well flows at estimated levels 600bpd at $70 it's 15.3 million dollars pa. (Not sure how much it cost to produce a barrel With the work over program and rise in oil and gas prices the company should be making a profit at a corporate level without this well meaning this well is pure profit. Should find out about the 16az well work over as well mid October.
If it all goes tits up (highly doubtful) we have another crack at the cherry.
I do think this has been kept low to feather the nest but if we all so well then happy for the staff and Paul to benefit
GLA Stav
Amazeballs surely a good day today..
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My buy is still not showing first one of the day??
My buy isn't showing yet but hoping for a good run from here surprised ujo hasn't risen more tbh
Just bought in off the back of the ujo half year report. Wressle is obviously exceeding expectations 6m mkt cap with 2.5m income pa from wressle seems very cheap indeed especially with biscathorpe on the horizon.. gla
From what I read that was the plan they are also looking to purchase a producing North sea asset. I was looking into eog and edr both with similar mkt caps but this had much better prospects. The potential is awesome hopefully they can deliver