Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Well, so we’re literally going to be sidetracked ( means naff all to me tbh) but it seems the rug for this has been secured for April.
Presumably there will be some time required to connect the rig, and then subsequent analysis of what it will help to produce. When can we get an idea - does anyone know ?
My guess would be Mid May or even June perhaps.
This is what Larry said at last RNS :-
“ We are delighted to have secured the rig for April and believe the side-track will result in a flow rate that reflects the quality of the reservoir that we have encountered. The funds raised will ensure Beacon is fully funded for the sidetrack, which in the success case will result in a rapid payback and transform the Company's financial profile.
We look forward to updating the market through the coming months."
I hope you’ve read/understood correctly.
In he meantime I’ve just this instance emailed seeking clarification
“ Hi
I’m still awaiting your response to my previous emails.
In the meantime, please furnish me details of how much oil the company is producing .
Thanks in advance.
Mr Bxxxxx
Hepseal :- “ With reference to the RNS announcement we could be producing a similar amount, plus or minus, at the current time.“
I simply don’t agree with you here. I can only be certain that the historic 30 bpd will be in production the new pull will be slowed down or stopped. We have to await the new rod pump to be installed after the side creation
I’d sent them the following email on 29th January 2024 with a short polite reminder on 18th February 2024 BUT NO REPLY :-
“ Hi Again Barry,
I’ve read the further delays in progress re Erfelden well. I’m now concerned regards viability of funding.
Could you please tell me the minimum breakeven figure you need per year. This can be in £’s; or even the number of barrels of oil need producing.
I hope that’s not too tough an ask but if it is, do let me know and I’ll attempt to find via alternative means including any external regulators
Regards
Mr Bxxxxx ( shareholder with interest)”
Yes John Bell, they’ve been very clear about what’s happening now for about a year. Only problem is, nothing as yet has happened as per what they’ve been clear about.
We still ain’t producing a single barrel of oil, new oil.
This is why I’d have liked a video perhaps with a media person interviewing, and perhaps also allowing one or two pundits like ourselves to ask questions.
They’re certainly not great at answering emails prompt.
I posted an email and subsequent reminder just asking how long they are likely to be liquid. Still got no reply
Heiseal, at the last count I looked they were getting 39 barrels on a long standing basis.
The new well which got polluted and needed sandblasting dint think has yet been rejoined - I think this will be done now after side tracking has been done
Ralladv2 - supposing, just supposing - that the company are good at nothing except exploitation and fraud ?
How much money have they raised so far ? How much of this has been actually used directly for production purposes ? How much of it has been drivelled away in no sense admin and management fees.
Have they as yet produced in any new oil ?
Just keep an open mind for all eventualities - that’s all I’m saying.
Ralladv2 you keep rattling off the various bopd figures and I’m sure it can be helpful. It was useful to me too in the early days and I occasionally indulge in such calculations myself.
But frankly, I’m really not very interested in actual production numbers anymore - it’s more a question of WILL ANY be produced given several attempts have failed. So even if in the next month or two evidence of even just 100 barrels production - I really think the SP will immediately hit the sky. But will any oil be produced or just one more failure ?
As you say, even a small amount can bring some very healthy returns and I think that’s what many are doing now. But not many people with the smart money.
Is it tge opportunity if a lifetime; or as some would say “ throwing more bad money after the bad” ?
Sheephatch : I appreciate Whitenight used bad language to describe a couple of people here - but having his post delayed is a bit childish too in my opinion.
However, the more important thing is that he was a very rare person on here that boldly gave a counter view of the company.
Up to present, there has not been a single person that has come remotely close to matching his share predictions - of that there is not the slightest doubt
If one dies t like another just place them on ignore - getting posts deleted is a bad injustice to the rest
I had kinda expected sp to fall to around 0.0045p or lower but it’s holding. Even if the churn of the latest 5.5 billion mates giveaway shares are not done already, can’t really be much longer.
So anyhows I have topped up a little amount.
NB : it’s still a bloody lot of money but I always invest only what I don’t need back in a hurry ie as if I’ve lost it down a hole.
Fifty Fifty we might end up seeing yet another raise judging by previous experience competence/ fraud.
But it is what it is I guess
Ok, just to break up the gloom. IF and it’s a VERY BUG IF we hit oil than :-
7.2 mill barrels of 2c oil.
About £82 per barrel minus £19 p barrel costs ( approx £60 straight profit)
£60 multiply 7.2 mill barrels = £425 M
IF extraction is 1000 barrels per day :- 1000 x 365 days = 365000 barrels per year meaning can extract this amount for about twenty years.
Let’s say each year they reinvest about 30% to develop Erfelden and other sites ; 30% dividends; and keep rest to improve share value.
I’d guess share price could then be anything between 1pdnce and 10 pence within five years - not to mention all the dividends.
As I keep saying; it’s Monte Carlo or bust.
Next quarter is absolutely crucial for all of us.
PS : it’s weekend and I post thus for a bit of fun, please don’t get carried away and absolutely dyor. There is still a fair chance we all become penniless if the company folds before producing any oil.
What the gell, I’m a big big Leeds United fan and although teetotal I’m feeling a bit giddy today after todays results
(As we say ) : Marching on together
Ralladv I’m actually with you in wanting g to come good with this, believe me I am.
But didn’t we feel it was easy when the SP was about three times what it is now. Didn’t we feel it is easy when Leslie Peterkin said to put the champagne on ice ?
Nothing is easy or straightforward in this game.
But yes, in terms of risk reward well worth a punt at this level if you’re not already in.
But golden rule : Only invest what you don’t need back
Duprophet, you may have noticed from my posts over the last couple of years that I am already in, well in, holding several million shares. I even did a top up yesterday because as you rightly say, it won’t get much lower than this share price wise.
BUT even if the SP was literally a few peanuts per thousands of shares - it won’t matter a jolt if the company goes into liquidation ( unless you’re a special type of shareholder - secured)
IF it goes into admin, we retailers will probably not see one penny if our money back as priority will go to others.
I don’t mean to play doom and gloom but I really understand that most on here are honest people . I wouldn’t want you to go blindly into anything without appreciating potential risks.
FWIW, I’m slightly more than 50% hopeful of achieving Monte Carlo rather than bust. IT IS going to be one or the other.
My optimism increased a bit after yesterday’s presentation. Would increase much more if any finance world experts publically commented on it too.
Good luck all and as always, DYOR
What I do agree with is that this potentially a ten bagger - from present levels even a twenty bagger. And that’s even without the overhyped thoughts given by Larry yesterday about other drills. They do apparently have 7.2 million barrels 2c oil and something like 26 mill of the other kind.
But will this company - our company survive administration before we get there ?
Yes risk any pocket money you can afford to lose but I personally would put the champagne on u e again just yet.