Beacon Energy. Share Price (BCE)

the ****** carrot13 is now filtered

Patience is always rewarded, in this case 6 months patience has lost holders 90%.

Well to be fair it is the same for all explorers snd drills whether oil/gold/lithium/ REMS etc but the upsides of 7.2 million barrels is worth waiting for. Patience I strongly believe will pay here. IMHO DYOR GLA

Each and every time we get hit by devastating news, they still always always throw in the line that they’re still waiting for some results or another ?

Presumably this drilling is being done on some Galaxy or Milky Way some billion light years away or something ?

Oh FFS do they really think we were all born yesterday !

DaPropheh you conveniently missed parts out ‘remedial actions will be undertaken on the ESP’

Situation is - it was installed and tested but since deployment it has had intermittent production with frequent stalling. The clean up op could be the remedy. I am sure they are trying a range of methods. IMHO DYOR GLA

From RNS

· In the Lower PBS, the SCHB-2 sidetrack is estimated to be approximately 9 metres from the original wellbore

· Following insertion of the production liner, an electrical submersible pump ("ESP") was successfully installed and tested

· Since deployment, the ESP has produced intermittently with frequent stalling - a stabilised rate has therefore not yet been established

· However, based on bottom hole pressures and flow rates observed, initial response from the reservoir appears to be poor

· The well will now be temporarily shut-in to allow the rig to be demobilised

· During this time, pressure build-up data will be obtained to better inform our understanding of the reservoir response

· Once the rig has left the drilling site, remedial actions will be undertaken on the ESP and the well will be reconnected to the Schwarzbach facility to allow well clean-up and a long-term flow rate to be established.

The Company will provide an update once a stabilised flow rate has been achieved.’

‘Following reconnection to the production facility, a long-term stabilised flow rate should be established. We remain convinced that Erfelden is a material and potentially highly valuable onshore oil discovery with Best Estimated recoverable reserves of 7.2mmbbl. The Company will now consider its options to maximise the value of the resource we have discovered."