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Looks like someone didn't want to stay in over the weekend. Flipped to red after close.
All the Best
That 110m sell made me nervous.. I'm sure I'm just over thinking.. GLA
DaProphet you’re over thinking - it’s A ok in Germany- right glass of Rioja and bed - early tee time - have a great weekend troops
daprophet i've always thought that spreadex would want to be completely out before the sidetrack results were known, as they have no reason to take risks. hence why we have seen multiple sales of 10m and 20m for many days...until today that is. my take is that they bundled what they had left and offloaded them in a single tranch as selling their last batch they wouldn't really care what it did to the sp..
so if indeed it was a sale (probably was) and it was them (probably was) and it was their last batch (probably was), then we should all rejoice as they've been an absolute pain in the **** suppressing the sp.
obviously i could be wrong but we'll know on tuesday because when they are finally out the sp should move up rapidly without constraint. certainly nothing to worry about regarding the sidetrack. totally unconnected in my opinion.
IMO any terrible news would have been released last night after 4:30. Nothing was released. I think we're looking good for good news soon.....
Olwi - Agreed, if it was "terrible news" I am pretty sure we would have had it by now.
So the question now is will it be "good news" or "very good news".
Expect ‘good’ and hope for ‘very good’?
GLA - enjoy the w/e
That is exactly how I see it and feeling confident. GLA
C'est la vie.
It’s only good news in that there may not have been any problems.
But the second part regards the flow will simply not be known as it genuinely needs a period of stabilisation.
Will we have had it by now - NO . We’d need to wait well into next week and possibly week after
Which is fine,gives the chance for more interest, more volume and a rising sp...hold for gold guys and gals.
I'm in at least till Xmas.
Hms...Since we have Kellysheroes in here you'd definitely be Moriarty...So...Don't hit me with them negative waves so early in the morning. Think the FLOW will be there and it will be there. It's a mother, beautiful FLOW, and it's gonna be there.
Why don't you knock it off with them negative waves? Why don't you dig how beautiful it is out here? Why don't you say something righteous and hopeful for a change?
Just having a laugh, no offence intended.
All the best to all for next few weeks and months.
Mr Man with no Name : I’m a Leeds United fan and you should see the “CAUTIOUS NOT NEGATIVE” things I write about then.
But still their number one biggest fan and just see how I paint tge town white when we win tomorrow.
But seriously : some on here potentially are vulnerable to rampers that go ott and it sometimes helps to add balance. Some here will almost literally have their houses riding on this share. Personally I’ll just need to flog a granny or three if it fails
Hms, yeah I really was just having a laugh ( and assuming that you were familiar with the movie ) Leeds Utd eh !? big weekend for you then, James Milner was my favourite from Leeds, one tough cookie.
All the best.
Crazy! I mean like so many positive waves maybe we can't lose!
You can always lose investing in small caps but all being well we should all make money here.
We know the reservoir is big and we know oil has already flowed, albeit small volume.
From the data logs from the initial drill, Beacon know where the invasion was, the contractors have been very conservative in what should be a simple sidetrack, to ensure they miss any of the original issues.
There should be absolutely no reason the flow rate is not good. The initial pump has a 250 BOPD throughput so I'm expecting anywhere from 200 to 250.
If its over 200 then it's highly likely they can quickly move up to 700-900 BOPD with the ESP, and that really would be transformational.
Hi there HereforHemo. As you've said, we're told that the reservoir is big, and we know that some oil has already flowed. But I'd still really like to know why we didn’t get a better result from the jetting operation, other than the presence of fairly deep reservoir damage. IMO, a possible answer is that the reservoir isn't anywhere as good as we’ve been told by our board. We were also told some time ago that both the PBS and Meletta Schichten reservoirs were of decent quality. Yet there’s not been a mention of the Meletta reservoir since then. So I do hope that I'm not being over- negative about the well and sidetrack. But I'm beginning to fear the worst. Let's hope I'm wrong.
We should have news this week, possibly as soon as tomorrow morning
Grey Panther - This is what Peter Appel had to say 24th April just PRIOR to the current sidetrack:
“The tested production rates from the existing well do not do justice to the proven petroleum reserves in the Pechelbronn layers. The drilling fluid, which consists primarily of starch, has too tightly sealed the rock pores through which the oil flows into the production line in the immediate vicinity of the borehole. Therefore, the expected quantities of oil are not coming through,” explains Rhein Petroleum managing director Peter Appel. That's why a new entrance is now being laid at a depth of around 1,600 meters. He makes it clear: “The natural porosity, i.e. the permeability of the rock, is good. We are confident that the new short branch line at the end of the well will result in a flow rate that reflects the quality of the reservoir we encountered last August,” emphasizes Appel.
Looking forward to good news very shortly.
Thanks for that Hepseal. However, as a former oil geologist, I remain slightly suspicious of Appel's statement "the natural porosity, i.e. the permeability of the rock, is good". They apparently didn't take a core in the original well so, while the logs can tell them whether the porosity is good, they don't yet know the reservoir permeability. And, in the absence of core data from the well, they won't know this until they get a decent flow rate.
GreyPanther everyone is entitled to an opinion but I'm not sure why you are invested if you 'fear the worst'
Personality I see this as a binary play, 3-5 fold upside if its as good as they've predicted, and losing a fair wedge if it isn't.
A risk well worth taking in my opinion.