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Timing here seems perfect! Come on Bloe let’s have some production rates:)
https://www.bbc.co.uk/news/topics/cmjpj223708t/oil

Any news on the interview?

Here’s what Malcy last said about Block. Isn’t 360bopd a good start though? Surely, based on the initial analysis we’ll be pumping up to 1100bopd over the next few weeks.
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The news around Block in recent weeks has been incredibly confusing and yesterday’s announcement did not address that matter at all. It merely said that the company was preparing to horizontally sidetrack 38Z on the West Rustavi field and is one of four such wells.

I get the impression that the market is more interested to hear about the 16aZ well and what it is producing at the moment, as much has been written about it on social media recently. As far as I am aware some investors hadn’t expected the well to be suspended and when it ‘came back’ it was at a much lower rate of 360 bopd. Yesterday CEO Paul Haywood spoke to Proactive Investors and whilst the excellent Andrew Scott pushed hard he was unable to get a number from him as to current production. I have had a reply from the company and am hopefully going to see Paul Haywood shortly, which should sort things out, in the meantime it is Confused.com all around.

Just a little comfort for all of those who bought in high, and awaiting the SP to recover (which it will) and go onto great things. Here's the directors buys from 5th June at 15p!! So, don't worry they are on the case, we're simply in the 'roll the sleeves up' period where results matter and they know it! My average is 10.9p, however I'm not bothered about now until we see at least 20p+ which hopefully will be by year end, or early next year.
https://www.lse.co.uk/DirectorsDeals.asp?shareprice=BLOE&share=Block-Energy-P

Can anyone answer when will we expect results from w38? Just appx.. Is fine thanks in advance:)

I just read this https://total-market-solutions.com/2019/08/16/junior-oil-gas-review/ with a section on Bkock.

Does anyone have an idea on when we would get the test results on w38?

https://www.britishbulls.com/m/SignalPage.aspx?lang=en&Ticker=BLOE.L

Just been re-reading the building blocks doc and I like this section evaluated by the broker with a 35p SP target. Again, I feel happy with my investment despite short term volatility, as I believe it’s just a matter of time before all 4 wells will be flowing nicely with oil + gas production. The recent RNS was completely taken wrong by the market as the report states below the current geological conditions and the company know this. Here it is:

‘The reservoir horizons at West Rustavi can be categorised into Upper, Middle and Lower Eocene, and the Upper Cretaceous. Arguably the most prospective horizon, and the horizon in which Block’s recent sidetrack produced over 1,000 bbls/d, is the Middle Eocene. The Middle Eocene is characterised by volcaniclastic sediments (clastic units, like sandstone, but comprising sediments originally derived from volcanic activity, such as ash). The Upper Eocene comprises sandstone, clays, siltstone and mudstone. Like the Middle Eocene, Upper Eocene matrix porosities are relatively low, at <5-12%, and accordingly an element of natural fracturing is necessary for economically viable flow rates’.

The lower Eocene holds the gas! Onwards and upwards from here:) IMHO

Just remember the recent broker target of 35p SP. with the drilling and production programme coming up and increased flow rates it’s not a question of if, but when:) IMHO

PH has never said the company would be blue sky in the next few weeks. Read all the previous RNS’s. There is a clear production strategy plan where the oil has first been identified and is now being produced increasingly. From what I read, the timescale has been towards the end of this year and into next for all 4 wells to be producing at the same time + gas + potential acquisitions. The market is down as a whole not just bloe for now. If you asked my opinion the price now is a massive buying opportunity for great returns in what lies ahead. I’d like to see 20p by Christmas based on 16az and 38:) that’s a 3-4 bagger from here.

This has been copied from the previous Bookbuild RNS. There’s lots of impatient investors on here.
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‘We have designed a rigorous programme promising rapid paybacks. The upgrade of production facilities will provide capacity for production from three new sidetracked wells. In Q4 this year we will sidetrack West Rustavi well 38, a neighbour and analogue to 16aZ. Two further wells, West Rustavi 30 and 3 will be sidetracked through H1 next year, and their associated gas discoveries tested. We will acquire a 3D seismic survey this year which will allow us to identify optimal locations for new gas wells and horizontal oil wells to be explored next year. We will also continue our ongoing workover programme at Norio, and have scheduled the field's well 60 for sidetracking later this year.

The funds raised also give us the freedom to explore fresh opportunities: we are a young, ambitious company keen to apply the low cost, innovative drilling technologies we have deployed in Georgia to new ventures in the region and beyond. Today marks a major step forward for Block as we move towards our objective of becoming one of AIM's newest mid-tier oil and gas producers."

Schlumberger seem happy to be in Georgia and get oil out the ground so what’s wrong? Seems like impatience to me.

PH said not long ago 15million per month for Block in the future and we have a well experienced board to make that happen.

We know they are fully funded for all 4 wells going into production. I would imagine the pressure on the board from the placing at 11p must quite high at the moment. There are large stakeholders out there now watching very closely. With that said, I think we just need to let them get on with the job in hand and launch some good quality RNS’s into the market! I’ve always been long on this I believe in the management and I’ll review each time the accounts are issued:) Growing healthy profits, no debt and cash in the bank is always a winner.

I remember just a few months back when we were bobbling between 8p-10p and then BAM up we went. Sentiment can return fast here and these days will be forgotten! We have a lot of news to look forward to and do agree clarification from PH would be good.

Recent overview on LinkedIn Block Energy page. I like it that they’re opening up production with due caution. Sounds good to me:) I look forward to hearing the RNS on stabilised production figures. I still think the market has over reacted IMHO
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#bloe resumes production at well 16aZ, one of several West Rustavi wells to be drilled through the company's 2019/20 back-to-back drilling programme.

CEO Paul Haywood said: 'We are pleased to resume production at well 16aZ and look forward to establishing with due caution a stable production rate for our best performing well to date. The Well produced exceptional test rates earlier this year and offers excellent netbacks of $35/bbl at $65/bbl Brent.'
https://lnkd.in/dvuZ29D

Join the block newsletter and get an overview on the latest RNS - can’t understand why the market reacted on Friday the way it did. It just seems like standard procedure with an update. See here:
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Resumption of production at West Rustavi well 16aZ
Block is pleased to announce the resumption of production at well 16aZ at its flagship West Rustavi field. Production resumed on 11 July and since testing began the Well has produced at an average rate of approximately 360 boepd (295 bopd plus 390 Mcf/d) on varying choke sizes, with an average water cut of 25%, considered to be mainly returned drilling fluid.

Paul Haywood, Block Energy Chief Executive Officer, said: 'We are pleased to resume production at well 16aZ and look forward to establishing with due caution a stable production rate for our best performing well to date. The Well produced exceptional test rates earlier this year and offers excellent netbacks of $35/bbl at $65/bbl Brent.

'With the resumption of production at well 16aZ our fully-funded back-to-back multi-well drilling programme continues to gather momentum. We now keenly anticipate ramping up production with the sidetracking this summer of well 16aZ's neighbouring well, 38Z. Three of West Rustavi's other wells will also be sidetracked in the Middle Eocene structure, and two of them tested for their historic gas discoveries in the Lower Eocene. We also look forward to acquiring a 3D seismic survey that will identify optimal locations for new horizontal oil and gas wells across the Field and support an upgrade of the Company's CPR, prepared back in January 2018.'

Sure, they take them for less (build up large stock) and sell them for more when the news comes. They want to take them for a low price therefore while there’s no news they’re making the most of it. IMHO

https://total-market-solutions.com/2019/07/15/block-energy-four-well-program/

Good find on the Amati link! PH will be well aware he needs to get the news out and he is committed to regularly updating the market. It needs to be done right though! And there’s a lot of impatient investors on here. MM’s are using the to take the price down as they want your shares. Soon the news and a re-rate will come. The patient holders will reap the rewards:)

Look at Mitons share graph, maybe they desperately need to cash back some money from their assets, BLOE being one of them. This is no reflection on BLOE who know exactly what growth direction they are heading in. RNS coming very soon guys:)

https://www.lse.co.uk/SharePrice.asp?shareprice=MGR