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A before B every time then C, D, and E
Pump installation comes first before any flow numbers
Tge much awaited pump installation- fir ne at keast anyway as I don’t take anything fir granted as far as this company is concerned. So too, frankly, will the markets
As of next week, or starting from, we could see the pump installed anytime, anyday
Both volume and share price seem to be stuck just now.
I would t st all be surprised if there was a slight tick up going into the close today in anticipation of next week
👍
Fair enough, thank you all.
So first quarter for Beacon is January to April 24 - mid point is sometime February 2024 for the esp to come in play and hopefully 900bpd of oil ; that’s gonna be nice. Albeit still about three months away.
Blubay : and the first quarter of 2024 isn’t until April 2024, and the middle of that quarter is May 2024 - that’s a whole frucking seven months away.
Make no wonder the SP is getting hammered.
Why should it take this long ? ANY TECHNICAL EXPERTS HERE ?
I do agree with Ezhik in that the company is performing exceptionally badly in many ways especially in missing some targets after having raised expectations. I seem to remember a presentation by Larry way back early part if the year when he implied we’ll see oil in June.
To date TIDAY we still haven’t and I suppose it is that which is preventing the larger investors (in the main) to stay away.
I actually am a bit puzzled why they keep us waiting in silence for so long and then they tell us oul oriduction is imminent. But still no announcement of actual oil. Games might be being played.
But anyhow - it just goes to prove how dangerous trading can be - most traders, vast vast majority lose !
I remain very happy with my hold albeit I may need to wait longer for my gold at tge end of the rainbow - but gold there will be
COMMERCIAL PRODUCTION expected later this month : pretty clear :-
“ · A rod pump is currently being installed. Commercial production is expected in the second half of November aided by the rod pump which has the capacity deliver up to a maximum rate of 250 barrels of oil per day ("bopd").
· It is expected that once the well is fully cleaned up and production has been sustained for a period, the rod pump will be replaced with an Electrical Submersible Pump ("ESP") which has higher capacity. As previously announced, based on the excellent reservoir properties and the light oil recovered from the SCHB-2(2.) well, standard oil-industry analysis indicates that an initial production rate in excess of 900bopd could be achieved with the installation of an ESP.“
The 200M is net actual value . Current mcap only £20M
250bpd this month means £1.5M income monthly - no need fir fundraisers anymore.
By July next year monthly income should be over £5M
But yes, SP will now go up steadily instead of straight line, and that’s because no urgency in the company- I suppose I can understand that, they know they’re sitting in a goldmine almost literally
Let’s clear out first all tge free loaders from placements
should have 250bpd this month; extending to 900bpd by (april 24 to) july 2024.
2p reserves nearly doubled (91%) to 7.2 mb
another cpr early next year
but in simple words, wow 900bpd middle of next year. current crude price still approx $80pb
that would equate to monthly income over £5m. nav increased to upto 200 m
load up boys; window for any more **** ups very limited now
The news is that there is NO news ! This must imply that everything is going according to schedule. That translated means that by the end of this month we are well progressed to pumping up over 600 bpd of oil - not just the beer 250 bpd
So, in a way, no news is good news. In other ways ALL IS WELL
An update of course would’ve been nice but ive always said that we potentially have a wait until tge end of November ( see Notes to the last six monthly results RNS.
They would only be obliged to say anything before then if either there was a real significant move in share price (either way); or there were some other material events or happenings eg oil production progress.
It seems sp is short term rangeboung for now, fairly tight range of 0.0015 - 0.00195 pence. Await the hoovering up of shares if price goes much lower.
On the news front, tbh I’m happy that there is no update - it should mean that all is well.
Volume looking very solid.
Who knows, SP might open up double on Monday morning as there certainly seems to be a cluster expecting news very very soon.
But whether there’s an announcement soon or not - I’d as use people to buy in for a bit of a hold .
If you’re gonna trade on T3’s, T10’s or even T21’s - Markets are extremely experienced in smoking you out
Yes Vista man, my post was not meant to have a pop at you.
Instead I wanted to highlight how sometimes a good bit of arithmetic can help especially when using VARIABLE figures such as global price of oil, and flow rate