The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
It seems that the presentation has been released on purpose in succession to the RNS of the infamous funding provided by the board suited for their pockets.
It now looks certain that the results of the current sidetrack drilling will be below our expectations .
I will be very happy if proved wrong but the lack of news in this instance point to bad news .
GLA
Snouts in the trough galore.
I suspect the SP is being kept low to maximize the number of shares alloted to the beneficiaries.
Additionally 12 947 264 Bonus Options were alloted based on performance.!!!
What performance? May we ask.
Unfortunately we are being diluted Big Time based on very poor performance.
GLA
Sorry,
average for 4th qrt was 374 bopd.
Grower,
Current production must be around 360 bopd (average for 4th qrt was 704 bopd)
Plus 45 bopd from the deepening of JSR-01
GL with your investment .We ill definitely need it.
I figure we will get an RNS on Thursday 26/1/2023 hopefully analogous if not better than the one of 24/1/2022.if not on Thursday then next week for sure.
A bit of luck is all we need at this point.
From previous drills I estimate that the horizontal part should not take more than twelve days. I guess they will want to test for at least one week and then issue an RNS. So I expect an RNS by the end of the month or first week of February.
((The ongoing JSR-01 DEEP testing programme has been designed to systematically evaluate three independent intervals of the reservoir, with different fracture characteristics and, as such, differs from the programmes used in the Company's West Rustavi/Krtsanisi oil field. The primary objective of the testing programme is the accurate definition of the oil-productive zones, to support the optimal design of future horizontal wells in the Project II full-field redevelopment.))From the above I guess it will take 2-4 weeks to evaluate which zone they will side track horizontally to achieve best production.I hope patience and perseverance will be rewarded soon.GLA
It makes sense Tony.
Hopefully we will get an RNS regarding flow results next Tuesday or Thursday.
GLA
I hope that flow results at JSR -01 new drill will be announced on Tuesday or Thursday . 22 to 24 days of testing should indicate if the well is commercially successful.
If it flows at over 200 bopd I think the next drill will also be in the Patardzeuli field in the vincinity of JSR -01 commencing before the end of October and this will see the share price at around 3p.
Of course better numbers will be most welcome.
GLA
Most probably we will get 3rd Quarter Review and well flow test rerults tomorrow.
Fingers crossed for a substantial rise in the SP.
GLA
My take of sellers at this stage at 1.70 is that they need cash at the end of the month and probably have bought in the last ten months at 1.00 to 1.40. So they also make a handsome profit .After the end of the month I think sellers will disappear.
GLA
I expect a 3rd quarter operations update on Thursday Oct 6 or Monday Oct 10 when we will know first test results.
Definitely not a duster and hope for the best . GLA
Bring on Guram !!!
Dum spiro spero
I hope we will get 4p in the next couple of quarters.
GLA
My view on the departure(sacking) of the CFO is that:
1.He did not manage to get the Finance package we have been promised in the past few months.
2.Revenues from current sales are decreasing due to lower prices and possibly lower production hence the neccecity to lower expenses.
The package they offered him is very attractive provided BLOE will succeed in its current drilling campain and i am sure he will be well off if the share price gets anywhere near two 5p by September next year.
Hopefully this will be the last dip at this giveaway SP level.
GLA
Astec 123 SEE RNS NO 6152U DATED 2 AUG 2022.MOST PLOBABLY WE WILL HAVE A FEW MORE
Chesh,
I refer to RNS No.4367R dated 6th July2022 vis-a-vis
RNS No.7368L dated 4th May 2020.
I am invested to make some profit in the next few months . Not in the next few years.
I started buying BLOE in April 2019 and my last buy was on 12/July 2022.I am here to make some profit in a reasonable time frame, not to make PH a multimillionaire.
GLA
Going through the information provided through RNS,s I have come to a conclusion that they will maintain a low SP as long as they can to take advantage of the nil options granted each month in lieu of cash.
PH managed with this scheme and especially the bonus options granted for his good performance!! (RNS of 8th April 22) to accumulate on the cheap 45 458 994 options. In May 2020 he had 12 564 315. So do not expect a good RNS before mid-October.
GLA
Does anybody know where exactly JSR-01 is located?
Is it near existing infrastructure to connect to if gas is found?
Unfortunately a lot of data that should be communicated to shareholders are veiled in secrecy.
Personally I am heavily invested in Block and might be interested in buying additional shares to bring down my average if only PH were straight. So I will stay on the sidelines for the next 6 months hoping for a good outcome of the next drills.
I must say that we are lucky because energy prices are that high and Block is making a profit just enough to fund the next couple of drills.Otherwise the share would have been well below 1p.
The assets are definetly worth alot more than the market evaluates.