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Ladydec .. thanks for the link.. excellent insight into Blockchain.. I don't understand it ...BUT EXCELLENT..LOL
https://www.simplilearn.com/tutorials/blockchain-tutorial/what-is-blockchain?source=sl_frs_nav_user_clicks_on_previous_tutorial
I am stuck in here 75% down no point in selling may as well see what happens in a few years.
SO MANY delusional punters/investors/gamblers on here thinking this will come good.
Yes there are some good analysts/knowledgeable dudes but I honestly think, they too are expecting Jesus to be waiting at the pearly gates. We were miss-led right from day one and once trapped you're in a decision making situation.
This company is a poor oil/gas developer and will never be a 'mid tier' company... it will be a small exploration company FOREVER... unless Nelson gets his eye back that is!
How much can we sell all that water for...DOH!
Live with it.
We have been sat waiting for eons for some info... we have been sat watching this slow demise of the share price... NOBODY knows what the news will be... HOWEVER a serious set of BLUE trades with a 3 day upward trend WILL be without doubt A MASSIVE BUY SIGNAL!
Tests conducted at a series of different flow rates for the purpose of determining well deliverability, typically in gas wells where non-Darcy flow near the well results in a rate-dependent skin effect. Multiple-rate tests are sometimes required by regulatory bodies
Sclumberger
Like I said right at the beginning your either a Ramper or a De-ramper on this BB.. there is no middle ground.
Why pick bones about my pathetic trading and comment about JF's investment and NOT comment on PH's Statements.
There are two many people both here with bags over there heads HOPING that the tiny little bit of info is now game changing. We have Gas to sell so yes BAGO want to buy it.. WOW ASTOUNDING! Who would not want to buy it FFS.
Why did JF buy at nearly 8p if he had leaked news that says we have Oil at Well38 and we drop to 6p.
I WANT TO BE WRONG... I WANT MY 15p BACK
I am just not taking the bait...AGAIN!
GLA DYOR
Guys, FWIW...
I came over here at the first announcement of 16az becasue ADVFN BB was a bag of sh**e.
Unfortunately along the way it did seem to be that posters on here were either a Ramper or a De-Ramper and you could not win either way. I stopped posting after 16az was pretty much a bag of *******s and PH stopped doing interviews becasue I believed it was a very poor company with dodgy directors. I think I can see from WR38's drill approach that they have tried to steady the ship somewhat. This does seem apparent with the cautious RNS's and that they are not going to say they have 'X' amount of oil flowing until they are CATEGORICALLY sure it is OIL and ONLY Oil. But I still have my doubts.
You do not put out a statement like this.."16aZ continues to flow strongly, going from strength to strength with a steady increase in pressure as the well cleans up", ...that will come from a QUALIFIED Analyst not PH.. and then fall flat on your face afterwards.
PH actually said in an interview valuethemarkets’ 2019/07/09...
"We have been running lots of pressure test studies, we’ve been running down hole gauges, for some time…just to get a feel on exactly how we should or should not produce this well…The current expectations we will bring it online anywhere between 800-1000bopd. In fact that’s one of the lowest production rates available to us because if we choke the well back any further is just becomes quite unstable! Because the choke size is not large enough to enable the oil molecules to flow"
This is 4 months AFTER the drill results from 16az. How can he be so wrong? It is impossible!
I have been investing for over 30 years and the last 15 years I have been waiting to get my money back from AIM ****e.. more often than not (hence not learned anything)... but have taking profits a hell of a lot of the time in the latter years..
Anyone who say they are here for the long haul.. GET REAL... NO ONE will become a MILLIONAIRES from an AIM share except the millionaires already putting millions in! I'd LOVE to be proven wrong but I can only see this company being a 12p max share and always drifting back and forth in the single figures zone. I for one will get out as fast as I can if we pass 15p as that is my break even. I know we have signed a Gas agreement and we have gas at 16az and possibly at WR38 too... but it has been SIX months since we got Gas at 16.. DOH!!! The £millions bought into this company by the likes of Jon Fitzpatrick look awesome..BUT he is not expecting to double his money but just to get 10-20% profit... hell if the word was out that we have a gusher... do you really think only JF would be buying a stake?
I doubt very much that 38 will be any more than 300/500bpd.. that is my logical assumption from all the hype this company has sent out. OK that my be cool for the company and add gas as well BRILLIANT... but I doubt we will see the likes of 20p this side of EVER!
I WISH and HOPE to be proved wrong.
GLA DYOR
Maladoni, bear0429, thanks your replies.
Thought I may get slated as a 'doomer'.
I still have little confidence in the board at present.
I would like to think they have made massive mistakes in the past and are trying to rectify them, but I've been bitten on AIM too many times. I would like to still emphasize we have not had any stunning news that makes this a double digit share price... ... GLA!
I wrote this in late July and I still see not difference to much of it. Just becasue we have learned a lesson from 16az regarding well structure and better drilling techniques does not mean we are a 50p/£1 share as some seem to expect. Until we get some sort of Gas announcement or Oil sales in quantity we are still a single share price company. I an still 50% down on my investment and I came here becasue of all the bad hype (didn't know it at the time) that PH spieled out... let's hope there is some black stuff about to come out of the ground and the Gas is not all thin air? DYOR
ALL FACTS announced by PH and the company...
£12m raised to accelerate our program.
…Because we suspended 16az after telling the world it was 1100bpd!
Possible further acquisitions.
…YEP..POSSIBLE!!!
Currently making a profit at this very early stage.
…DEBATABLE…
Spudding of WR38 possibly this month / early next month. (wrote this in late July).
…But not probably …going by this last 4 months!
Gas off take deal signed shortly….
…Why no mention of Gas since announcement of 16az discovery???
3D siesmic survey of 80 sqKM when we only lease 40 sq KM!
…Let’s See.!
Updated CPR…
…Let’s See.!
I think this bit is AWESOME… from 15th July…
“Block Energy said it will now have greater control over the development of West Rustavi. The company intends to drill as many as four horizontal sidetrack wells and expand production facilities to raise capacity at West Rustavi to between 4,000 and 5,000 barrels per day.”
The quantity is TOTAL GUESSWORK!
Devil if you do .. Devil if you don't!
No matter what you say about this company you will be shot down in flames.
You are segregated into a Ramper or a De-ramper, basically because most people DO LIKE the truth!
Over 4 months ago..(please note April 1st...that's a laugh) we had ASTONISHING results at 16az.
I repeat.... Over 4 months ago......we had ASTONISHING results at 16az.
Following that we have had ... POSSIBILITIES... PROBABILITIES..oh and PROMISSIBILITIES (no such word by the way)!
There is No God (but there may have been a Jesus)... So we need to get real and realise.. there is no 45p, no 30p... I'd like to think we can FOB the market into 25p... but IF I CAN GET MY 15p back, I am out of here like Meat Loaf!
Nooo, I am not going to eat it really fast... DOH.. BAT OUT OF HELL!
Guess that makes me a De-Ramper...
OH I did base my investment on the following!
01 April 2019
Block Energy Plc | Index: AIM | Epic: BLOE.L | Sector: Oil and Gas
West Rustavi 16a well test significantly exceeds forecast delivering over 1,100 bbl/d
It was opened on 26 March 2019 and, after a short period of swabbing, began flowing NATURALLY, producing a combination of oil and returned drilling fluid at average rates of 1,500 bbl/d through a 1/4 inch choke. During the initialSIZ HOUR CLAEN_UP PHASE stable wellhead flowing pressures of 500 to 550 psig were observed.
The flow, limited by the capacity of the testing facilities, quickly STABILISED to a rate of 1,100 bbl/d through the 27/8 inch tubing.
Oh Boy all that Gas we have... errm still waiting!
It is pretty obvious that the next flow news on well 38 will not be 'outstanding'.
The company cannot and will not go overboard now with news as they may **** up all over again.
Any flow rates will be announced with ultimate precaution or they will be taken with a lot of skepticism unless they state precisely all facts which in theory will not be available until various tests, chokes etc have been carried out... we are stuck for a while yet before we see serious accumulation in share price. I'm 50% down and can only hope they get it right.
SORRY TO GO OVER OLD GROUND...
… 1st april…RNS
The formal testing programme was started on 30 March 2019, After a 12.5 hour shut-in period the well was flowed for 11 hours on an 1/8 inch choke. The flow, limited by the capacity of the testing facilities, quickly stabilised to a rate of 1,100 bbl/d
We then announced on 17th April RNS … (TWO WEEKS LATER)
The rate of 1,100 bbl/d produced through an 1/4 inch choke …
OH.. different to announced on April Fools day!!!
…significantly exceeded the Company's target rate of 325 bbl/d, triggering an immediate requirement to upgrade production infrastructure. While the Company addresses production capacity and offtake requirements, the diameter of the choke has been reduced as of 13 April 2019 from 1/4 inches (6 millimetres) to 1/8 inch (at just over 3 millimetres, the smallest size possible), scaling back production from 1,100 bbl/d to a rate of around 700 bbl/d.
This is brilliant because we still have 700 bbl/d. (well not quite its nearly half of the previous flow rate!)
AND THEN…
Chief Executive Officer Paul Haywood said: 'We are very happy to confirm the exceptional test results announced at the beginning of the month. 16aZ continues to flow strongly, going from strength to strength with a steady increase in pressure as the well cleans up.
So lets analyse this…
1st April …Start at 1100… shut in for 12.5 hours.. flow for 11 hours …stabilise at 1100bbl/d on 1/8th choke
17th April we have 1100 bbl/d on a 1/4inch choke.. WOW that’s better is it not?
But more to the point… 'We have been flowing between 1100 and down to 700 for two weeks' and ..
“16aZ continues to flow strongly, going from strength to strength with a steady increase in pressure as the well cleans up”.
Please “HIT ME WITH A BIG STICK”!
Because I invested in this stock due to these type of RNS statements…
…and then YOU SHUT the well down due to storage capacity… and did not announce it! Then told us all… Well has produced at an average rate of approximately 295 bopd on varying choke sizes, The Company is adopting a prudent approach, gradually increasing production to establish a sustainable flow rate as the "Well cleans up".
And now the CLEAN UP will take 90-120 DAYS!!!
YOU CLEANED UP IN 16 days AS ABOVE!
Do not slate me for being a de-ramper, negative poster, or a w***er …all the above are FACTS!
A lot of posters on here are very honest and factual investors, they have EXCELLENT views … AND a lot are actually ‘falling in love’ with the share… I think I am BOTH.. because I did my research and nothing else could have detracted me from the reality of what ‘SHOULD BE” and is “GOING TO BE” be… however there are now holes in this companies statements and I am trying to be ‘honest and factual about my investment.
Yes... the possibility that this may be a great investment in time is there… but you should not be drawn into an investment by mis-information at this early stage which is very apparent from