sometimes you have to go through the worst to get to the Best!19 Oct 2021 19:13
Here are my 2 cents on the hot topic.
This is AIM and I am not expecting miracles. However if I look back , I can pinpoint the negative sentiment back to the decline in production (or high water cut) from WR-16AZ . I am giving the PH benefit of doubt here (he was not very experienced in O&G at that point) . He probably became over excited and made the announcement too soon.Share holders have paid the price for this mistake.
I am invested here for the long term and I know that there are many O&G companies on AIM ,which are producing 0 BOPD , yet value much more than BLOE. We are still producing approx 370 boepd and this is likely going up once the latest flow rates are announced . Brent crude price may reach 100$ a barrel this winter. If WR-B1 meets its target production , we should see an improvement in share price.
Am i averaging down ? I wish I had more money . To me this is no brainer at the price. DYOR