Member Info for Hms687

You know, as ever, if I tried I could still put a very positive spin on this investment if I wanted to. There is still half a billion £’s worth of oil just waiting to be brought up. It’s all onshore in a good location in terms of licence and registration.Global prices are also very favourable.

But consistently we have seen a prolonged continuation of loss of share value. It’s absolutely obvious that some are in the know well in advance of the majority.

And the CEO remains in forever hibernation.

It really is getting behind a joke now.

According to RNS dated 14th December, 2023, tge best estimates for oil reserves was increased to 7.2 MILLION barrels ( even upto 10 million).

NAV was £140M (oil @$80b)

Current market cap is just about £12M

As a long termer, even I worse case scenario of delays and market raises - this should still be one of the best performers on the market once it finally sees the real McCoy oil flowing.

But all I’m wondering right now is why are we likened to a Crunchie instead of an Aero

Flow rates just arent important to me looking at the long term because what we do know (have been told) is that there are 7 - 8 MILLION barrels of good oil to bring up. At pure income of circa £60 per barrel that’s a heck of a lot of money.

All I’m looking for is that everything can still be as per planned albeit slightly delayed.

Should or Could be a very very exciting few weeks to come.

I’m agreed too, there is an element of “No news, is good news”

Yes Hepseal. And o resumption of production we should be able to see instantly if it’s still at just 40 bpd or much higher.

Sheephatch: do you have some kind if problem in responding to a point on the thread it has been mentioned in ?

You don’t really need to start a new thread every time you wish to put in one of your posts.

Of course if you are suffering from some sort of understanding issues then u apologise.

For me, I’m only interested in knowing that the sand jetting part of the recovery has been completed without any new ( previously unheard complication being presented).

I really have no idea how many days production in to total were lost to the sand jetting operation but income will restart to flow in once the rig is reset - I think that deserves some form of. Communication

Hopefully the rig should be reconnected by now and should be exciting few weeks now. Probably exploding any moment even before esp as punters start the realisation that this could be a real McCoy goer.

As I understand, extracting 250 bopd would add about £2.5M to the coffers so obviously 1000 bopd would get about £10M

Current market cap us still sub £15M

Estimates would obviously shoot yo much higher with extra successful drills (as is planned).

Sand jetting : ✔️

Reconnection of rig : ?

Cleaning to be completed ?

ESP : April 2024

SP target by end of year WITHOUT extra drills : minimum 0.70 pence ( my target)

Best of luck folks

…. and what actually was Malcy’s comment ?

Anyways, the sand jetting is done obviously within the £500K allocated I expect. It really shouldn’t take very long now for the rod pump to be reinstalled.

The last return was a mere 40 bpd and I’m fairly sure that this goes up into triple figures for now pre esp.

I think we may see sp swings because as ever there will be fairly luminated swings in sp well before formal release of data via leaks.

At this moment I’m happy not least because this was another day and another RNS which did not contain details of any car crash

April is a long time away from summer of 2023 when first promises were made, BUT for all us long term mashocists April is just a handful of weeks away.

It’s at this point I feel that there will be no point of return for any not already bought in with tickets for a hopefully exciting ride.

PS I have made a small top up this morning

Firstly, the full RNS dies t even appear on some news flows including HL brokers and even on here - very bad management again. But anyways, the gist including Larrys comments is the following ( with the usual we remain focused blah blah blah - it is what it is) :-

Erfelden Operational Update

Beacon Energy (AIM:BCE), the full-cycle oil and gas company with a portfolio of onshore German assets through its wholly-owned subsidiary, Rhein Petroleum GmbH ("Rhein Petroleum"), announces an operational update on the Schwarzbach-2(2.) ("SCHB-2(2.)") well in the Erfelden field.

Further to the Company's announcement of 29 January 2024, the sand jetting operations with a coiled tubing unit has now been completed and the Company expects to recommence production in the coming days following reinstallation of the rod pump.

The impact of the sand jetting will only be known once production has been restored and a stabilised and sustained flowrate from the rod pump has been achieved, at which time the company will provide an update. Once the well has been fully cleaned up following the sand jetting operations, which is anticipated to take several weeks, it is expected that the rod pump will be replaced with an Electrical Submersible Pump ("ESP") to maximise production - this is currently scheduled to take place in April 2024.

Beacon Energy Chief Executive Officer, Larry Bottomley commented:

"We are pleased to have safely completed the sand jetting operations to stimulate the well and are now working to recommence production in the coming days with the rod pump."

"We remain fully focused on establishing optimal production from the SCHB-2(2.) well as quickly as possible following this well stimulation operation and ultimately the installation of the ESP."

"We look forward to the results of this operation and providing an update to shareholders in due course."

END

In some ways, Larry is actually worse than Peterkin because he offered shareholder value back in June 2023 yet targets have been missed again and again and again. Even now we barely have no more than what’s probably been filled in a bucket using a teaspoon (40 bpd and dwindling)

But we all left with no choice really and must hope he finally delivers - 250 then 900. Mind you, if he does, we’re easily looking at mcap over £100 mill

It’s still binary as far as I’m concerned :-

10 - 20 bagger or bust.

Everything revolves around getting some sort of hard evidence that the company is able to start extracting efficiently those 10 billion barrels of oil

Well Ralladv - I’m sure glad you have some sort of next steps in place irrespective of what happens here.

But I still feel though that you might be caught up a bit too much with what these companies tell us / promise us.

It’s all about timing and being brutal; Larry actually hinted we’d have gained some riches last summer but all we’ve had is delay upon delay, promise after promise.

I’m both long term as well as well diversified as far as I’m concerned and followed my golden rule that I must accept every penny I invest might be lost.

As far as the markets are concerned, yes of course they’re interested in flow rates; reserves, geo politics and everything else. But the main thing for them I feel will be a binary outcome : Is Beacon credible or will it find another way to go bust as in the Buffalo scenario.

Right now, it seems getter vetting in the latter

Ralladv : you say “ Mid Feb operation should be done 100% “ . That’s a very bold statement, and I hope for my sake as much as yours that you are right.

Listen mate, hypothetically of course, what would you do, if this doesn’t work out as planned. It is ALWAYS.a good idea to have contingency planning in life.

I would say potentially go to zero if the board turn out to be crooks as they were during Buffalo.

But more likely, come end of the year, it will be nearer one whole pence.

There is millions of barrels of good oil reserves underground, and potential still to get it up at 1000 bopd

Overall volume remains strong and SP hardly affected especially for people like me who might have anticipated a follow through downwards after the RNS.

Like one or two others on here, I think it’s looking very good - and that’s without the publication of any updates clean up news

47 mill shares - someone must desperately need cash to pay gas man or something

But other than that we seem to be coping well with this recent delay in operations