Member Info for HereforHemo

Just another tick in the box, another milestone achieved on the route to fully derisking Cascabel thus adding further value to the asset.

At this moment in time patience required, as with all investments.

People are getting confused. SOLG registered to apply for a Phase Change on Cascabel from Exploration to Exploitation on the 6th December 2023. The company then has up to six months AFTER the approval of the Phase Change to execute the Exploitation Contract.

SOLG expects the Exploitation Contract to be finalised and announced prior to the end of the current financial year, ie by the end of this month.

Hepseal fair point but they also said 600-900 BOPD. I simply don't believe a word they say anymore.

With that I'll leave this board, good luck to anyone who invests here.

No money left in the bank after the sidetrack.

150 BOPD to break even, highly unlikely imo.

€1.4m balance to pay contractors over next 4 months out of non existent revenue.

A placing with severe dilution or the company folds. They are the only two options available, highly likely its the latter. There's high risk and there's madness!

NAL best post you've ever done. There are indeed some very sad individuals on here.

Shame they think Twitter has been renamed LSE and not X.

Response from the reservoir appears to be poor.

€1.4m bill outstanding from sidetrack.

No money left in the bank.

They're finished.

Whiteknight there's me thinking an ESP must mean decent volume and there's you saying the opposite. Well you were correct all along and I congratulate you for your call. Me, after the lies at Bluejay and this shambles I'm completely wiped out, no coming back.

AIM is a very dangerous place and when it goes wrong it's a total car crash. I gambled, I lost. Tread carefully everyone.

Hms whilst that's true we'll over 90% will use a pump. As I understand it, one of the positives if they have used an ESP is that they're not really economical to use at low volumes like 150 BOPD, they're really for moderate to high volume so I'd expect in excess of 400 BOPD in the RNS. Enough chat, let's wait now till they can extract it, and at what volume.

Hopefully an exciting week ahead.

Hms whilst I've always believed the RNS flow rates will be based on the ESP, it certainly won't have been free flowing for days at 900 without a pump being used.

Regardless of who is saying what we'll know the flow rates next week. Let's hope they're good.

On the contrary, from another poster who certainly appears to know exactly what is going on.

Fill your boots31 May 2024 12:34

Another £5K bought at 0.0530 - an absolute steal, the works done and the ESP in the ground for the tea lady tells me

Think you mean the ESP and I think its in, so just how many days to stabilise the flow rate now. Could get an RNS Monday, most likely Tuesday or Wednesday though.

If this takes off on Monday we'll certainly know the oil is flowing!

Well as we know on pretty good authority first oil should flow tomorrow with the ESP, its safe to say they'll be no RNS until Tuesday at earliest, so I for one will reject your bet. The tea lady knows all.

Looking forward to seeing if i was right next week lol

Flow rates29 May 2024 23:26

Here's the interesting thing about anticipated flow rates.

The contractors only received €1.1m prior to the end of the sidetrack and agreed to receive the balance of €1.4m net of VAT post sidetrack from production revenue, to be paid over the next four months.

That tells me both parties are confident in the sidetrack being successful and that the RNS will be based on the ESP, because if you take the four monthly payments due to the contractors (starting June) and add Beacons monthly costs the flow rates will have to exceed 300 BOPD, although I've only done an approximate calculation.

If that level is achieved after the four months Beacon would have a minimum of $400,000 profit per month to spend on additional drilling, thus increasing revenues further.

So although the share price is of concern I am in no doubt this well will deliver big numbers.

Jumped in with another 14.6m. Feeling lucky lol

700.

BBG ar this stage its irrelevant whether the strategic review has completed or not. Its pretty obvious to most what it would say, sell off non core assets, Cascabel and or the company.

The question is not whether the review has concluded but does anyone want to buy them. I think we have a 12/18 month wait so best sit back and let things play out.

Here's the interesting thing about anticipated flow rates.

The contractors only received €1.1m prior to the end of the sidetrack and agreed to receive the balance of €1.4m net of VAT post sidetrack from production revenue, to be paid over the next four months.

That tells me both parties are confident in the sidetrack being successful and that the RNS will be based on the ESP, because if you take the four monthly payments due to the contractors (starting June) and add Beacons monthly costs the flow rates will have to exceed 300 BOPD, although I've only done an approximate calculation.

If that level is achieved after the four months Beacon would have a minimum of $400,000 profit per month to spend on additional drilling, thus increasing revenues further.

So although the share price is of concern I am in no doubt this well will deliver big numbers. GLA.

Fever with the upside potential here I can't see anything but a decent rise before results early next week. Only a matter of time.

Fever, having gone over Beacons most recent presentations and webinar again, I noticed something that I'd previously missed, which I thought was quite exciting. They actually state using the rod pump before the sidetrack and then state the sidetrack is 'to achieve rates materially in excess of 250 BOPD' Therefore one can conclude that they will be using the ESP immediately, especially when on their presentation slides they have an immediate flow rate projection of 900 BOPD (although their financial projections are based upon 600 BOPD).

So I have a question for you. Do you think they'll still use a rod pump for the initial RNS. Or do you think they'll surprise everyone with a flow rate far higher than 250 BOPD from the ESP? I now suspect they might do the latter..at least I'm hoping they do.

So with lies about the finance and lies about the reservoir, all of Germany contaminated, someone leaving albeit before the flow rates are even known, somethings not right, I fear the worst amongst others...it makes you think.

Well I've thought and Beacon said they'd stabilise the flow rates the last week of May. That's this week. Personally I'll wait to see what they are but thanks so much for the informed input.