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And that’s the reason I bought another £10k this morning!
These guys have done their due diligence and wouldn’t be buying at these levels if there was a risk to their capital.
Further more this individual has contacts all over the industry....I would suggest he knows a lot more than we do!
Once the storage is complete they will be turning up the taps on 16az and continuing with the ‘fully funded’ next drilling campaign. Including the much coveted gas drill.
It's no panic guys!
Georgia Oil and Gas were always likely to win the tenders, however what will work for us is the impending 'Farm In' & PSC that we will get from GOG.
They won't develop them all themselves and often share them out amongst other companies.
And as Georgia Oil and Gas own 8% of Block Energy.....I would be surprised if we didn't get a slice of the pie
:-)
I'm wondering if today's drop isn't pre-empting an RNS that's leaked out? We have often seen a drop just before news is due. And just because today's price is a drop....it doesn't mean its bad news.
Lets see if it rises back up in the last hour.
I read it that he has either not changed his holding, OR he has increased his holdings a small amount.
The reason for that is because he owned 5.89% of the total shares before the 22nd. The company issued 42.8m shares on the 21st, which means an increase of shares in issue by 15% (approximately).
This would have an effect of reducing his % he owns of the total shares in issue by 15%....which works out to just over 5% of the total shares in issue.
He actually now has 5.38% an increase of 0.38% approximately.
It's play time for the Traders on this one!!!
Just looking at the charts and it appears over the last few days that the technical traders are playing with BLOE. Tuesday we hit and bounced hard off the 50 day EMA (moving average) and today we have hit and bounced off the 20 day EMA.
If I knew how to post a chart on here I would. But I'll leave that to the PC savy amongst you.
:-)
Bigbench,
70p is tempting for sure, although I believe it would truly undervalue the future potential we have here. The gas alone is worth an SP of upwards £1 (even after the latest shares are issued).
Just my opinion :-)
Zib,
I'm not so sure it would go to a major. Think cash...and PSC. GOG will get a much better deal if they went with a small fledgling company rather than the greedy majors.
Other than a PR tool that is.
We are all second guessing here. No one knows what license/ land or acquisition Bloe are (if any) going for.
Just to clarify, I am also in FRR.
....and no I don't think we will see it rise from the ashes.
However this isn't about FRR. It's about a fresh start for many who have done their research in country...and Bloe is an exciting play in the region. Lets hope Bloe does what we all think it will do and recover those FRR losses.
It's good to have GOG on board as a big share holder! :-D
Aren't they the same people that owned the Licence for FRR's block 12....with the 13 TCF of gas reserves?
Didn't they also have to go to arbitration with FRR because they were concerned about the PSC?
Have FRR lost block 12?
Did we fundraise for acquisitions recently?
Interesting times!
There is an interesting comment Paul says (5m 55sec) in the Video....
"Has led to the company gaining a hell of a lot of attention. And I for one can say the Company has been inundated with calls from other companies to seeking to explore what Block has in country."
To me that reads other oilers are sniffing out what they have....ask yourself why they want to know?
This is now a take over target!!
NigelHaemoglobin
Sea7 is NOT correct in his comment that the well maybe shut in. Check the video again....5mins in. Paul states that they are currently producing 16az to the limits that their facilities can cope with.
There appears to be a lot of misleading topics and statements being made of late on this board. All made by nothing more than greedy con men wanting to buy in a few pence lower than the current price.
They do this, because they are stupid & lazy enough to have not done any research prior to the price rise. They are now trying to play on people’s fears so that they sell out, just so they can buy in before the next rise.
They call themselves traders....but true traders use either technical or fundamentals to trade off. Not trying to scare joe public into selling their shares cheap.
Con men pure and simple. :-)
I can’t understand why anyone would be selling now. You’ve just seen some institutional investors (who’s main job is assessing risk and investing carefully) buy 110m shares at 11p.
Ask yourself the question....would they sell at 11p? No way. These boys will not flip this for a small percentage, these boys will be pumping this all the way back up to its proper value, and I would suggest they will be doing that within a short time period.