focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Year end results due out in a couple of weeks, maybe we might get some sort of news then.
Someone that’s impatient I guess. I am holding for news and flow rates of sidetrack & 2nd Quarter update.
Tbilisi hosts 54th meeting of Continental Europe Energy Council
200 delegates from more than 70 oil and gas companies are participating in the forum.
One of the main issues of the conference is the potential of Georgian carbon resources and the prospects of their adoption, which are the largest oil companies such as "ExxonMobil", "OMV PETROM", "DMT", "Block energy" and so on. S T H I N G I N G It's the cause of interest.
54th meeting of the Energy Council was opened by Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili.
According to the minister's assessment, the direction of energy due to the created geopolitical situations is especially relevant when energy independence is becoming more and more important all over the world, including in Georgia.
"Georgia has quite solid oil and gas resources, this is proven by past experience - at the peak of the 20th century Georgia would have produced more than 3 million tons of oil on the Samgori field alone. This is a prerequisite that we can increase oil production in several perspectives today,” the vice premier noted.
The meeting also discussed information about the geological condition of oil and gas potential wells in Georgia and ongoing search and search work on existing wells. The presentation, which was presented by the Head of the Oil and Gas Agency Giorgi Tatishvili, aroused special interest. It is planned to announce an open international tender on licensed areas of Georgia.
At the working meeting, major oil companies presented their views on their activities and future projects in the region.
"This meeting will be a big step in further investments, there are already first results, yesterday a contract was signed between Polish State Oil Company and Georgian Oil on Seismic Geophysical Works in the Tbilisi region A memorandum was signed between SA and Gas, as a result of which the state and two private companies will work on the development of new perspective structures in Kartli region and further About conducting work there," said Giorgi Tatishvili, the head of the State Oil and Gas Agency.
Am I being impatient or does anyone else think an update on progress of the Spud and vital mining and pipeline equipment ordered is now overdue . Or should I extract more patience, Quarterly update due in 6/7 wks . My expectations are held in the confidence that Directors and employees have taken part salary in share options. News would be welcome when there’s something to say.
Frustrating though it is, hold on ! GLA
NASDAQ listing coming soon , GLA
Bloe’s favoured day for an RNS has been Thursday lately. GLA
With directors and staff still happy to take part salary in share options is a sign of what’s to come . When the good News comes , which it will the we are looking at 2p end of May & 3p by the end June and 5p end of July. GLA
Looking forward to this week and the next couple of months , growing confidence that we can expect some good news and us LTH’s along with recent new investors will get rewarded with an increased SP. Next Quarterly review is due beginning of July which is only 7/8 weeks away.
GLA
I am hoping after good news we will be knocking on 3p
Anticipation ahead of news next week. GLA
Meanwhile Oil reaches $110 a barrel showing its reluctance to fall below $100 a barrel.
Now that’s out of the way an RNS on Spud must not be far away, next week I reckon . GLA
Someone knows something
TLH1,
YES , on this discussion board, two weeks ago our friend in Georgia stated the long lead time equipment had arrived and staff were ready to start the Spud. Who am I to argue ? It’s only a month since our last quarterly update and only 10 weeks before our next but we should get news soon on progress as the pipeline was almost complete back then. GLA
I believe they started the sidetrack about 2 weeks ago, News must be imminent, this week or next. GLA
A successful sidetrack should lift the SP to 5p, market cap circa £30m. If they have cracked the geology then it will support a premium of say 7p-10p SP especially with all the current assets, then if further sidetracks and wells can be successfully opened up then exponential growth will take us to new highs. GLA
Chesh, Hawkspear, and all LTH’s our patience is being rewarded . The next two weeks will be good I hope, the next two months will be even better, Bloe is still massively undervalued. GLA
1.5p on the bid soon , afternoon rally as nobody wants to be out of this over the long weekend. GLA
Looks like anticipation for a positive RNS next week should be a 1.5p + finish before the BH weekend. GLA
The Announcement regarding the sidetrack spud can’t be far away, hence the recent rise in the SP. Looking like next week now, then when flow rates are disclosed and if good the SP will double from here at least.