Member Info for Ezhik

Account suspended, maybe posting false information.

@Carrot13. Don't derail mate, it will only end up in a train crash. You could always just de-risk it's less painful. :)

WN. You are quite a funny chap at times and I find myself agreeing with some of what you say. It's never a bad thing to have one or two folk having a negative view when backed up with something factual, it helps with a balanced view. I have saved cash in the past by listening to the resident pain in the r's. on bulletin board. I also expect that BCE will need more cash at some point, that's the sole reason for being listed isnt it. So, if the sidetrack is successful, they may wish to accelerate development by raising cash or perhaps borrowing cash to start the next drill early as opposed to waiting for the income from production. Whatever happens though, the SP has already increased the last 2 days and will increase further before the results of the sidetrack are known, so if you are here to make money, buy some and sell them at a profit.

Its not mathematically possible to be 300% down. 100% down equals zero. I s'pose you mean that the SP needs to gain 3 x current price to return to the figure that you have in mind. Although if you mean the 0.27p reached than it needs 5 x the current price to get back to that figure.

G.P. it was my first thoughts too, leave on the cusp and let someone else carry the can, but he's staying for the sidetrack and presumably the following well test and leaving on a high note. He's had 40 years in the business and you have say enough is enough at some point so that all those millions accumulated can be enjoyed, so I did a reversal of my initial view. ATB

What news is soon?

Should have stuck with my initial thoughts and took the 5p target. Would be buying back almost 20% more shares today

20% haircut for a no debt, self funding development program for the year ahead is shocker. The Obaque 13api was already known and announced previously. C7 is the light oil that seems to extend across the entire region.

@dreaming. I just read in the ZPHR rns of today that helium may be as much as $1000 per 100cuft. so, if that is the case then multiply my figures for income by 5. Hope the EWT proves this all to be the case.

@dreamingforgold. I have taken an approximate $200 per 1000Cu ft. as the price of Helium--tbh, I'm not sure what it is right now, but as a guide:-

500000 cu ft of gas x 4.7% Helium = 23500 cu ft. 23500/1000 = 23.5 x $200 = $4700 per day. or about $1.7m per year.

Gas is coming to surface under its own pressure.

EWT is a test, it won't change the flow. Artificial lift aims to reduce the downhole pressure in the well so that the formation pressure will force more gas into the well without having to overcome the hydrostatic head of pressure sitting on whatever fluids are in the well, so part of the EWT is to determine the liquid content. -- Anyhow--that's how I see it, so if somewhere around $5000 a day is commercial once the CAPEX and OPEX are taken out, I dunno, but it's somewhere between $1.5 and $2m a year income, so I would say it is. - and then there are enhancements to be made and additional wells. But--back to the never ending problem--they will need investors to pay for their progress until they can become self funding.

Yeah, they were different times though, before the car crash and momentum lost. Seems we are gaining traction again--8p then on success at 36-2 and news of the Helium play spud date.

A couple weeks ago, I thought we might get to 5p ish on 36-2 successful drill. Having a re-think :)

BOD acting on their fiduciary duty, responsible behaviour, maintaining shareholders interests, a share of a new revenue stream for little capital exposure. Looks good to me.

Its called tying up your cash on a long term gamble where nothing is guaranteed other than there will be more cash required to progress forwards. Reality.

I have been involved in a couple of high pressure, high temperature wells offshore UK. They are brown underpants times even when expected. Trouble with the 36-2 well was that the H.P was unexpected ( poor planning or interpretation) and the last resort for protection safety control equipment failed. There should have been a thorough and in-depth investigation into the causal factors, human errors, procedural errors, design flaws etc behind the failure. We probably will never learn what the root causes were, but the fact there is a new drilling company tells part of the story.

Yep, Hepseal. Nowt more to say just yet, they have been pretty good on Comms tbf. If someone thinks otherwise, go spend a couple of years with CASP!. Once Beacon get it cracked then we should also be able to obtain verification of increased resources. Not long to wait now t'll kick off. I'll probably be on flippin holiday when all the action comes through and I'll have no internet or phone signal !.

Once they get started, you'll have about 14days as per presentation to wait for initial results. Plug the existing well 1 day, Drilling is 1 day. Running prod tubing and cementing 2 days. Do whatever stimulation they are doing 1 day, set up and install the rod pump 2 days, start pumping, leave it a week to clean up to a decent level, there shouldnt be much to clean up and hey presto 250bbls a day. Let it run for a few weeks and then replace it with the leccy pump and let it build up to its optimum figure. Early success indicators should be around a week after they start poking around in the hole, 2 weeks after kick off should give us a idea of the potential. However you look at it, its not far off. 6 weeks or maybe less depends when they get started in April. Hope they get the mud weight right, heavy enough to hold back the formation. Drill bit seems to have been designed to make fine cuttings which can be brought to surface with the lighter mud.

@The Bold, your post from 11.00am ish today. Nov/Dec maybe early next year. After the extended well test and after they have thought about the results thereof.

Though it was what the call an Aussie pick up truck. Sorry that a UTE

By the way, its not 'the' Ukraine, its just Ukraine, same as its not 'The England'.