Member Info for Ezhik

Plenty to decipher in there !. Significant reserves upgrade for a small company. Time ( as usual) will see it developed and monetised. AXL are at least 'getting on with it' which is more than many small Co's that do plenty of talking and no 'doing'.

Average Dave. Welcome to the TXP world, you obviously are not aufait with the history here which is excusable of course. There is no 'cleaning up' to do and the capacity of the plant and gas distribution has been built to accommodate additional wells in the hopefully near-ish future. They are ramping up the flow of gas from the existing well so as not to blow the bl**dy doors off the plant by opening up the well on full bore and creating a shock wave down the pipework. But, you are correct about wells needing time to clean up, this one has had about 2 years so far though, so if its not clean yet then it never will be. ATB and make a mint.

Slawson next few weeks--replenishing lost production and adding a bit more.$$.

Ohh, and it did during my post ! .

Mainly buys on the list of trades in any case. No obvious sells, so it will have to tick up before long at this rate.

Tidd. Just drafted much the same post so I have cancelled it. Income from the wall of cash on the balance sheet cannot be ignored by the market once reported. All systems go on the development of casc and some more $$ to spend on coaxing Royston into releasing its treasures from the tight rocks. ATB by the way

Buy some and they will ;)

Overall good result. Poor cement job enabling water to enter the oil production zones. Ubaque is proven as a producing zone. Cn7 does its own thing and makes us $$.

Nice one Photo !.

@fiah. Yes, that was the chap. Writing was on the wall after his departure.

Probably got Siemens trying to talk to Honeywell controls via Enraf .

Mla. Christmas presents all round if they actually complete a deal. Only caveat is that 2p reserves of 4 million does not equate to being able to recover 4m bbls The mix between proven and probable is not known--to the market and recoverable amounts are likely to be less than 50%. Nevertheless, if they get the deal completed and if there are not too many conditions attached, and they obtain the licence to operate the thing they have bought, and if they can re-kindle the production then they could be making their current mcap per annum or potentially better. At the speed of Zen, this would be somewhere around the middle of next year before you see anything produced. In the meantime, who knows.

Scarlet. All words are made up though are they not?. There are hundreds of new made-up words added to da inglish dikshunry every year and if the words were not originally made-up then they would not exist.

Yeah. RNS Monday. 800bbls well hooked up tied back and with a bow on it. Reserves upgrade, Vultures swooping happy days. Well--maybe innit.

It'll flow, don't worry. Monday should reveal what we have. With luck a reserves upgrade from the company from 2c to 2p. After hours rns today would be interesting, would give the weekend to whip up a frenzy.

To me, it just meant as an indication of the magnitude of the task they have been up against. Initially, the first sections of pipe would have come out of the hole cleanly as there was little/no damage. i.e. the first 7000ft was likely to be little more than pulling out very slowly, breaking the tool joint and chucking the pipe section out onto the piperack for inspection. The deeper they went, the increased damage to the point that we can see from the photo. The deeper pipework has obviously broken out from their tool joints and is in the bottom of the hole in various bits, shapes and sizes as I have mentioned here previously. To fish that stuff out is difficult and very slow and worsened by the high pressures downhole. It would have been quicker to cement it in and drill around it, but then they may miss the target or the sweet spot they seem to have stumbled upon and of course hindsight is a wonderful thing. I said a couple months ago that once the sh8te has been removed, they will need to circulate mud through the sysytem to try and get the last few debris items up from the bottom, then inspect the casing and the bottom of the well for damage post pipe removal and then set it up for cement and then test the integrity of the cement again before they think about running a completion and doing a well test. I said couple months ago, hopefully by Oct--still a long way to go and no guarantee of success hence the SP is now back to below my average paid for the shares in my SIPP which is a level that I never thought I would see again. When its all ready to test, I'll bet the farm in the hope of seeing 7/8p again this side of christmas.

Casper. I agree with you that we are in the period where news can drop and that it can come at any time. The timeframes given originally were perhaps before the two zones were identified hence why I was saying if they test both it will take longer. Previously it was just going straight to production without bothering with lengthy test but what they got wasn't quite what they expected as it was better than. I'm trying to dispel the doom mongers heading off down the late, overdue, problem, negative rocky road and to say take a chill pill, feet up and have a cuppa. :).

Panman

That was just one piece. Of course it has all been stuck and they have to draw out each separate broken piece from depp underground, pull it to the surface without dropping it again and then go all the way back down the hole to try and catch the next piece of scrap using various types of tools. Not all tolls are the right thing for the next piece of scrap therefore thye have to come all the way back out, change the fishing tool and go back in and try again. All the time that this is going on, they have to keep the well under control using the hydrostatic head of pressure from the column of drilling mud sitting on top pf the scrap. The mud characteristics will be gradually changing as some of the solids will start to separate from the mix as they wont be able to recirculate the whole depth of the well and the effect of running in and pulling out of the well with the drill string will be affecting the downward pressure on the well. If they make it to heavy just to kill it entirely, they will make it impossible for the fishing tools and drill string to operate. Very slow indeed and it could take them 12 hours just to remove one piece of scrap--.

46million at 9p adds 4m plus to the cash and about 20% more shares to the pot. So rough approximation taking into account sentiment and prospects and CN3 results next week, more like 15p or thereabouts--but who knows, markets at this level are sentiment driven.

Except the well clean up occurs during testing and is not a precursor. I'm sticking with the possibility of their being 2 tests being conducted to explore the potential of the Meletta sandstones and the 34m of oil bearing sandstones in the PBS.

Testing two zones independently will take more time ( if thats what they are indeed doing). Then they may comingle the two zones and put into production. Separate tests will tell them if they have a new reservoir above the PBS which would add to their reserves figures and give additional zones for the next well to target. They will have or will be doing pressure build up tests which involves shutting in the well for a period or periods of time--they can do this over hours, days or weeks. If we get the full flow details, reservoir estimates and into production next week, we will be doing quite well. No point rushing it, this well is hugely important to Beacon. If you take a look at TXP they wee 'testing' their latest drill for about 2 months and they still haven't finished playing with it.