To 'blag', or lie extensively, to a colleague, work mate, spouse or close friend.
Mitch - "I'm Really sorry boss, there's been a; Death in the family/my dogs died/my mother has rabies/it's the apocalypse/I've got aids/I slept with your sister last night (and she was faaannnnttasssstic)
Boss - " That sounds like a fuckin' sick blag to me kid"
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.
"Base we've got some square groupers floating outside of Miami harbor."