Member Info for Hms687

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

At least double from here (16pence) by July next year

Hoped sooner but looks like company busy tossing this year

Looks like mm’s being tight with the many who are obliged to sell positions now. Pity they can’t wait another week or two poor souls

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

Of course sellers at THIS point of time are weak sellers. In fact, probably firesale sellers.

PS : Crude oil prices now struggling to hold $80 pb

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.

Yeah ?

And I’m still the President of the United States of America

Haha after the event Charlie strikes again

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

Vista man, you can easily do the calculations for ourself. 250 barrels x (oil price per barrel minus costs) then multiply that figure by thirty for monthly income

In a previous post I did say 0.00195 might be a hurdle which in fact we did briefly touch today.

If by close we retest and hold thereabouts pre RNS news then it’s 0.0035p to come I guess

But dyor, this us just my guess

Don’t know who this Aim Investirs is on Twitter but he thinks alike to me

https://x.com/abc202324/status/1720347566733242530?s=46

Whitenight - I’ll give you an opportunity.

When you say “This could just as easy be a duster.”

Please explain in which scenario it could be another duster given the many confirmations already made by the company ( indeed some independently)

In reply to Infinity :

If production gets underway problem free then from memory the company has itself stated minimum income of £1.5M per month amounting to almost tge full market cap as if present in just over a year.But that is production just at tge very basic level.

Resistance wise I see almost instantaneous 0.0035p; then 0.60p then 0.96p. More progress after this will be dependent on further drilling and development.

But these are just my figures and everyone must dyor obviously.

My best advice would be to remain holding for at least a year or two

Burnerec : we will be derisked anyway even at 250 bd once it is confirmed - we should see a very big rise in SP once this happens

Go on then, pass me their number - it won’t be private.

Bce bod as much as their bad points not only have PROVEN reserves but also soon to be very decent flow rates that WILL see the SP in multiples albeit not in a straight line

But first you need to understand what is meant by “reserves” and I’m sure deep down you probably DO understand. Put simply, the number of millions of barrels of proven oil owned by Beacon just awaiting extrapolation. No need to go offshore to find, no need to remote parts of the world like Alaska or some desert. It’s all here in mainland Europe.

Just to warm up 6 million barrels at $85 = ????

Current market cap £20M