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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
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
Or is it X, anyways, here it is -
https://x.com/beaconenergyplc/status/1752294041713094956?s=46
IN BRIEF: Beacon Energy shares drop on downbeat Erfelden update
Mon, 29th Jan 2024 10:47Alliance News
Beacon Energy PLC - Isle of Man-registered oil and gas company - Says Schwarzbach-2(2.) well in the Erfelden field in Germany continues to clean-up, although production remains at a rate of approximately 40 barrels of oil per day. Says the "low" output rate indicates that the reservoir near the well bore has been invaded with drilling fluids which are restricting flow rates. Additionally, Beacon says it has now started sand jetting operations with a coiled tubing unit to stimulate the well. Sand jetting will focus on the oil-bearing reservoirs in the Pechelbronner-Schichten sandstones.
Chief Executive Officer Larry Bottomleu says: "While the SCHB-2(2.) well encountered excellent oil-bearing reservoirs with thickness and properties in excess of pre-drill prognosis, drilling fluids that invaded the reservoir near the well bore during operations are currently impeding production. The retrieval of the downhole pressure data will inform our understanding of the impact that the drilling fluid invasion has had on productivity.
"We remain fully focused on establishing optimal production from the SCHB-2(2.) well as quickly as possible through the rod pump and ultimately the installation of the [electrical submersible pump]. Despite these operating challenges, the exceptional technical results of the SCHB-2(2.) well have materially increased the potential reserves of the Erfelden field and provided confidence on the productivity potential from this and future wells."
Current stock price: 0.079 pence, down 9.7%
12-month change: down 39%
By Sabrina Penty, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Oh I’m expecting more than double from here, much much much more- double barely takes to the placing price.
From here it’s easily a ten bagger. Ten bagger or bust. No real in-between - though not necessarily in a straight line.
I want Larry to stop his flirting around and concentrate on business - action not words no more - otherwise he’ll be looking at jail bars if another Buffalo is being concocted
Would love to have done more but did do a small top up just now @ 0.75 pence
Just need to observe whatever shananigans now u til reaching the promised destination of good free flowing gold
At the moment that seems April and as long as it’s April 2024, I’m still happy
I must agree with Whitenight - what a sham, what a joke. They must be doing the cleaning with an old mop and duster. He really needs to spend less time with someone else’s mrs - ficus more on his day job.
Having said that, it could’ve been worse as no major funding or structural issues have been identified.
How the markets react, I have absolutely no idea but there is still light at the end of a lengthening tunnel and I reckon some buying opportunities might again be offered and taken
In my opinion, everything but the very worst of bad news has now been built in including Larry Bottomley running off with the neighbours mrs.
We’ve also been terribly affected by short positions being opened and then closed giving false impressions of what’s actually happening.
Also the Boards position to stay largely stum has been unforgivable.
👍
TBH I’m also expecting some sort of bad news but NOT any devastating news. Possibly another minor delay in operations but none requiring any funds input.
May present the best top up opportunity.
But in the other hand, surprise positive update about clean up should see this rocket - probably double immediately
As far as the markets is concerned (as reflected in the share price) all presentations may have well be written in fiction by AI
Why, I don’t know, but obviously track record and relative silence of the company will have come into it
Personally I remain a loyal shareholder and will continue to do so
The risk reward is just too good but dyor etc
ANC the upside us that the company have been announcing even a shred if truth eg 10 million barrels of oil, near term flow of 250 - 900 bpd
And then there is all new potential drills
Only downside is that company have criminally misled the markets / us