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Today's Oil and Gas Update - SP Angel's Snapshot of Oil & Gas News

Published: 20:53 23 Jan 2019 AEDT

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23 January 2019

 

 

Summary

In Brief

 

Block Energy (LON:BLOE) – 3.53p

Block’s Light Throws Shade

Zenith Energy (LON:ZEN) – 3.55p

Focus on the Important Issues

 

 

News In Brief

Block Energy

(LON:BLOE) – 3.53p

 

Block’s Light Throws Shade

The continued progress that the Company is making underlines the difference that the application of engineering science and a well thought out programme can bring to an appraisal programme.

While the outcome of the programme will not be known until the flow tests have been completed and analysed, we have growing confidence in the Company’s management to be able to deliver a coherent programme.

The management team have made more progress in advancing the understanding of their asset base in the ~12 months since listing, than Fronterra Resources has in more than 12 years, which continues to make Fronterra’s management look as weak technically as we have always believed them to be.

To that, all credit must be given to Block’s management.

Zenith Energy

(LON:ZEN) – 3.55p

 

Focus on the Important Issues

The update from the Company has demonstrated the difference between management that understands the scale of the issues they are facing, and those that don’t.

The equipment list the Company has disclosed is neither here nor there, nor is it special in the context of well operations, so quite why it demands mention, let alone a whole RNS is beyond us.

To that end, that Zenith’s management has seen fit to announce its arrival in such detail underlines how far wide of the mark the current thinking is. The only thing that matters for the underlying value proposition isn’t the drilling equipment, but the knowledge it unlocks and, ultimately, the revenue that its application delivers.

Consequently, while we are pleased that the Management believes that they have the requisite equipment to execute their task, the execution of the drilling and appraisal programme is the only thing that should matter to management and investors alike.

 
 

 

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