Member Info for yiannakism45

Good morning Shedulike and best wishes for a happy 2024 to you and fellow blogers.

Based on the Quantum leap promise from PH I placed an order for shares of BLOE worth £1400,00 with a limit of 1,25p.The order resulted in purchasing 112100 shares at 9.00 am UT at 1,12p and 11647 shares at 16.40 pm UT at 1,25p.

It seems that at the uncrossing times those were the best purchases to be made. Unfotunately or fortunately this is the result of an illiquid market for BLOE shares.

Hopefully things will improve in the next couple of quarters on the basis of the CNPC stuff.

Best of luck to all LT Holders.

Hepseal,

i do not think the BOD are in a hurry to repay the loan. On the contrary they would be very happy to extend it or even lend us more money at such favourable terms(16% interest rate +++)

Anyhow it will be interesting to see the 4th quarter results and hope that they suceed in maintaining production levels above 600 boepd which will result in a profitable 2023.

Good luck to all LT Holders.

Paul Haywood

(Chief Executive Officer)

Block Energy plc

Tel: +44 (0)20 3468 9891

Nobody is answering the phone

The sooner he is replaced the better for us LT holders.

My interpretation of his actions is as follows:

1)They want the SP as low as possible until the end of the year because I suspect the allocation of grants of shares based on performance (what performance will be calculated using the low SP.

2)They are spending most of the income on maitaining or upgrading existing wells and not on new wells to achieve a profitable 2023(first ever year in profit..

I am sure that some time in January they will announce when they will spud KRT-45Z.

I e-mailed Spark advsory protesting the complete lack of commmunications and in case they reply i will communicate it to the board.

Bitsas004,

We will need about 36240000.(5% of approx 724000000).

it will be a difficult task. I personally hold more than 5 million shares .

Technically how and where would you register your shares to form the 5% group?

Thanks a lot staypositive.

Hopefully we will get a positive RNS in the next few days and things will change for the better.After all it is probably the fourth time in the last 3 years that the share price dipped below 1p but eventually recovered. Best of luck!!!

Staypositive,

At what price will H&L buy the few million shares you mentioned in your post of the 11th November?

I started losing my patience with this joke of a BOD and probably sell out at a substantial loss.

GLA

Hepseal,

Your comparison table would be pragmatic if you included the No. of shares and options in issue and the relevant numbers for Paul Haywood and the Emploee Benefit Trustee fund.

Shareholder value is dropping rapidly and the reason is that PH policy is to keep the share value low so that he can allocate to himself and his cronies shares on the cheap. The only way to have a decent share valuation is to get rid of PH and friends.

Although I sent e-mails to the major share holders before the last AGM asking them to vote against the relevant resolutions they do not ssem to care.

Best of luck

From 3rd qt RNS.

During the quarter, the Company's financial position continued to improve on the back of strong sales and a higher, relative to last period, oil price.

Sales were worse both volumewise and pricewise.Especially the latter. Average brent price for the quarter was about $85 and they sold at an average of $69,8.

The Big Chief and the chief of Finance should let us know what the hell is happening !!!

Much lower sales at fishy prices and a much higher inventory.

Perhaps another loan from the usual bunch is in the offing.

Best of Luck but this will come if we get rid of the Chief and his cronies

As always the information provided is confusing.On the one hand they tell us that the previous two wells are still performing above expectations and that the overall production is only 20 boepd above the 2nd quarter average.

Fortunately the price of oil will make the difference as far as income.

I estimate this will come to circa $3800000 which will most propably cover the operations cost.

Patience is the key for those who want to make a profit on their investment.

Currently Brent is trading above $93 per barrel and analysts are forcasting it will exceed $100 by year end.

Windfall profit for BLOE, especially if flowrates from WR 34 are good.We wiil know soon.

GLA

Rock,

Flow results of circa 320 boepd will get the SP to 2,50p and any news about the next drill will move it above 3p

I expect news will come in the next 4-8 days.

GLA

Based on JKT-01Z history total depth was reached in about 4 weeks and initial testing results were released after 5-6 weeks from spud date.

I expect that TD of WR-34Z has already been reached and initial testing results will be announced next week.

Hopefully results will be at the high end of expectations!!!

Hi Bitsas004,

Based on current oil and gas revenues, if current production in the 3rd quarter is the same as in the second we will definitely make a profit. I estmate 3rd quarter rvenue to be circa $3200000 and expendture circa $2900000 not taking into account any production from WR34-ST.

By the way,did you spot the whereabouts of the A-80 drilling rig? It will be interesting to know if it is still in our assets or it has been sold to meet the cost of the very aggressive drilling plan of PH and company.

On 13th October 2022 Block Energy plc's Chief Executive Officer, Paul Haywood, said:

"Q3 saw the Company deliver robust production, good cashflows and end the period with cash and oil inventory that will support the ongoing and self-funding development of its three-project strategy. The successful deepening of well JSR-01 saw the progression of this strategy and reflected the Company's technical and operational excellence. Block is better placed than ever to progress and realise the value opportunity that exists across its portfolio, whilst testing JSR-01 DEEP and preparing for drilling the next well in our multi well drilling programme.

What happened to the self funding course set out by the big chief.We now owe him and his associates about $2,0million and he is granting himself a few million shares after failing on his promises.

Gary 1960,

agree with you 100%

Anyhow hopefully the WR34-ST will be successgul and the oil price will be above $90 by the time they announce the results.

Personally I will sell out given the opportunity as I cannot trust PH and the BOD.

GLA

Bullish sentiment has been building for weeks in oil markets, and it seems most analysts expect supply constraints to push prices higher.Most analysts expect the price of Brent crude to be around $86 per barrel in the 3rd quarter and $92 in the 4th quarter 2023. In such a case BLOE will be cash positive in the next two quarters irrespective of the outcome of WR34-ST.

GLA

Hopefully with the experience gained by the drilling team over the last several months and based on the time frame required for drilling and testing of JKT-01Z we will get news of reaching TD in mid-August and testing results in early September .By that time hopefully we will get concrete news for the other projects.

I wish to express mine and other LT Holders appreciation to Bitsas004, Shedulike,Hepseal and other contributors in clearing the everlasting fog created by the agressive boss of BLOE regarding current and future operations.No concrete plans for the near future announced with this RNS apart from the promise of an agressive drilling plan for the next 18 months .

Bitsas004 may be you should start looking via satellite for the upgraded A-80 service rig which has gone missing after deepening the JSR -01 well many months ago.

GLA

Well I think we should all pray that GOLDFISH PH will regain his voice before the end of the month.

Shed,

"Two new wells will be drilled from existing pads of Wells JKT-01Z and WR-34 respectively".

This suggests that there is an existing pad at the location of WR-34. That is why I think KRT-45 will be spud with a newly constructed concrete pad.

As i said previously at this moment in time we need concrete news for all projects from a goldfish named PH.

GLA