PH24 Apr 2019 07:20
Also said in a recent interview that, "we have our asset acquisition team looking at other opportunities." This could be the next Tullow Oil, given time. In the next couple of months it is likely we could be producing around 2300 bopd plus gas which should return around $2.2M per month, before moving on to the $1.4bn major gas play. Back at the IPO BLOE raised $5m, with a view that it would have enough cash for 18-24 months, so we still have 8-14 months of cash without this revenue which we have now.
This post is not meant as a ramp, but I truly believe if we replicate the results at well 38 of 16A then people will really start to notice that we mean business. My only regret here is I didn't invest the kitchen sink when I bought in at 2.85p but at that time BLOE was a higher risk, albeit higher rewards. Hindsight is a great thing!!
9pence entry point now for what we have is very cheap as this is now de-risked and moving forward rapidly. Look what we have achieved in 10 months, and look what most AIM oilers achieve in 10 years.
I firmly believe that there will be no placings here and if cash is required short term, main stream lenders will be queing at the door to give us cash at favourable interest rates as we are generating revenue to repay any credit facility.
PH is clearly a breath of fresh air in interviews the way he presents himself, but do remember this is team work, so a massive well done to everybody involved.
Final note: I do wish I had a spare £1.5M like Mr Ferguson to drop in the pool, but I don't so I had better trot onto work now.
GLA
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