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Just for clarity the CPR is being carried out by a independent party and not directed to inform Block Energy but to give assurance of the gas find to 3rd parties.
In other words only been being carried out to farm out well.
Mubinhamrd its been going on for years , Just trust what you read in the RNS.
In brief yes Totally have been caught out by Inflation but all new contracts have this addressed , costs on management staff redundancy have been posted in last quarter and leaner management now in place.
The low value work of upfront payments being replaced by out of hours operations , and other operations with higher margins.
Net cash as per last RNS just under £5 million , 3 divisions of totally of which 2 are higher margin are outpacing organic growth , one outside NHS and one within under pay per operation basis.
Expecting strong 2nd half results and return to net profit , with contract paper base loss as a Totally Asset ( Accounts way of losing profit in prior investments ) but increase cash held in account.
Long Term holder and Totally are minnow's in the private sector to the NHS , its the mix that is attractive with 5 clients in UK & Northern Ireland & Southern Ireland.
We can only go buy the RNS and that's the only fact.
You know that investing in shares has high & Low risks , for me it's balancing that investment across a dozen shares invested.
Had two that went bankrupt and one delisted but still have shares invested.
The point is that in the high risk areas two have factored by x 4 in value , at present running at neutral gains.
For Block Energy I'm Neutral now not the case in the past , the point is i know the risks and with this i am very positive of the future ( Due to RNS announcements )
What you need to know is only the facts and do not listen to non facts being i.e delisted - no oil to extract - greedy CEO etc.
Its my investment and multiple investee have reasons , mine for my children that have Autisms & ADHD , which i spend beyond my means to help.
The education is good at helping but we are in a postcode area that has no funding so mostly private funding by parents.
All i ask is keep to the facts , one de-ramper 138 negative posts.
Remember that's all.
Same last year , news is long in first half of this year.
So making a guess we will hit $13 Million for the new tax year for 2024.
That's without any major manufacturers joining in mainly europe.
Here one go to Boots or Tescos and pick any hair related dye product , be hard now not to find ITX ingredients' in there.
THE IP was sold years ago , its a shell company now.
With no Employees , if you look at costs its mostly directors salaries' good luck.
Mr Gunn had taken its most successfully company off aim due to USA investigation , which trash the share price due to owning the majority % required to take off aim.
Heps has many points and must stay active in discussions as we all bring valid points and in a way the truth comes nearer.
On that point having re-read the RNS there are several points that are questionable.
New drill site or extended horizontal drill update which has not happened - this in part has been address in the statement that the rig from China will be used to drill in Project iii - second that reduction of cost base - would that be we transfer engineers to china company for knowledge and expertises within the area on a temp contact in exchange for loan of rig.
It also is about Chess giving the other the upper hand in check mate , for minor company like ours with large asset base is trying to act as being a giant without cracks and negotiate better terms hench delayed results.
The point is that the clues are there in RNS and this version is of one.
However collectively we can start putting the pieces together by examining theses each examples of which is the truth in the end.
Rocklawn , this is where a advisor consultant will present information and costs spent.
In project iii we know £130 Million was spent on 3D and 2D survey in addition multiple test wells that proved a gas find of over $1 billion. The only reason we ended up with these assets was Covid and collapse of oil and gas price in which the main company was upto to its eyes in debt and retreat from multiple overseas investments and transferred all assets in exchange for shares.
Now back to the question this could end up multiple ways one the Farm out buys a 10% stake and transfers $13 million to Block Energy as this is the cost spent.
Alternative is the farm out pays for a 51% stake and commits to $133 Million drill program of which is held in account only for that project.
Block Energy retain 49% with a fully funded drill program and no cost to Block.
Another arrangement which is payment of a stake for 30% in which Block Energy receives a payment for $20 Million and $19 Million is allocated to the drill.
Which ever is why you need a consultant who can mediate between the two parties , if it is indeed the china buying in then expect that a full buyout is the best option and wave a example $80 for the licence for Project iii.
Of course we know nothing and all is speculation of the farm out.
The figures used are from the extreme point of what has been spent on this project.
PH mention in a interview that M&A activity was active , so Block Energy now have a team dedicated for this sector.
That's about all i know , other case is PH other company has just signed a mayor farm out but can not find the link.
Its not that we are relying on one drill result we have a company that has multiple licences and at present is cash flow positive.
Can see share price achieve 1.25p tomorrow as slowly others start looking why this has been positive for past week in value.
Block Energy are valued at £8.5 Million that is self supporting and drilling with over untapped reserves of $1 Billion.
Just to repeat untapped reserve of $1 Billion may be more but awaint CPR report.
Just look at Jersey Oil & gas not producing gas or oil at present rising from 48.5. to over 200p ( £68 million ), mainly from farm out agreements and still undervalued compared to assets. With our value of £8 million and has oil & Gas worth over $ 1 Billion in the ground already surveyed and awaiting the updated CPR.
With $130 Million already invested by Block Energy the upside for farm out will be masive
Noted spread has increased so shares are harder to buy , may see in the morning moved to 1.2p.
To increase the sells , news is spreading on media regarding Block Energy.
You know when it kicks off when the bashers jump that never comment on here and a repeat in 2019 except this time massive upside in Block Energy potential.
Going to take time to break each level , so should see steady rise.
Looking at Charts with no more news within 7 days we should see 1.4p where this is another break level.
All the best , news on CPR due soon.
THere was many arguments several years ago , one that several including myself was that this was all about gas.
With the legislation in georgia you could not flare gas to extract oil , this was a canny move by Block Energy to start laying gas pipes across its portfolio. End result we are seeing a positive in cash flow and another market which is gas.
The gas extracted was not mind blowing but did allow oil to be received.
If you remember on twitter picture's of Chess was published , now we know why.
Politically Block Energy have imbedded with Georgian Government , also setting up the landscape for a major Investment in a farm out. However to get the farm out the gas find is across multiple licences and this was addressed by Block Energy and indeed a joint venture was formed.
We are near closure to the farm out , two outcomes we drill 4500 ft for a test well and then increase the 30% margin or farm out without the test drill.
The first is maybe true as China is conducting drills and share agreement for said drill mybe in place as per RNS suggested.
In Chess it's about making who has the upper hand and Block Energy have played this very well , End game coming shortly.
If based on assets alone , if you was to look at Block Energy base value of 5p per share in 2020 with a value then around £15 million with share dilution now at just under 3p per share we have also added more licences with pre investment of $130 million and transferred to Block energy in a deal that cost nearly nothing due to the Covid situation.
Our Asset base has to be in real terms worth now over $100 million if we was to sell as a whole or slice up.
Remember tax losses before profit can use the $130 million and above to cancel profits in the future.
It's why cash shells are bought out by companies, not saying that's the case here but showing a example.
To add my be biased here , as own 0.5% of Block Energy and any statement is of my opinion and do your own research.
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Key points - Cash positive in activities on going - Farm out in early stages with government backing - CO2 storage as there is EU funding that can be tapped , if indeed world class - Further M&A activity regarding project IV.
First quarter going to be interesting time.