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Of course I’ve not really studied all the details but we have various types of big shareholders - directors; company we’ve taken over from; freebie holders after various transactions or decisions.
Now, some of these people may simply have the need to sell to free up their own cash flow - it might be nothing to do with Beacon Energy.
I’d say that this may well be happening right now. Some might recognise it in other words as an “ overhang”
All the more reason that I’m happy to hold longer term
Yes it does seem insane that despite everything as described there seems to be only downward pressure on the SP. I personally don’t accept it’s because buys are disguised as sells and vice versa or anything like that. So why ?
In my experience it could be several reasons - usually short term :-
1. Simple shirt selling;
2. MMs and/or brokers scheming to keep prices down for them to buy at these almist firesale prices;
3. Some big, very big holders wishing to exit. End of tge day, our whole total market cap is almist an insignificant amount if you’re a big player.
What I think it is NOT is a reflection on company performance or insider knowledge.
The simplest thing in my view is just to do nothing ( although personally I’d still do tiny top ups when cash flow allows)
SRBS : you should consider asking the company directly, as I did. There is NO PLACEMENT ! The following was the response I received about just that last Friday :-
“ Thank you for your email, which we are responding to in our capacity as IR/PR for Beacon Energy.
On your first question, the Company have sought such authority for the last 3 years so it is consistent with previous AGM/EGMs, they have no current intention of using it but it provides flexibility and a competitive advantage as Beacon look at new opportunities or funding options for Erfelden. “
Hope that helps 👍
Their communication with me stated there is no plans for any placings ( if there are any then it will be for some very exciting potential opportunity). Debt I think will be eliminated if we but oil ( or get conformation).
I e resisted using the term ever since Buffalo but I’m saying it again now - this could well be be a mid market cap in the next year or two .
So even a small amount tucked away here longer term would be to seriously think about
It’s not what I do every day, but I think tge mm’s are manipulating things so much that I’m gonna do @ a bit of a Casper” in his absence.
New best reserves 7.2 billion barrels. @ $70 = $500M+. Current mcap £18M
Flow rates @ 900 bopd = £60,000 per day x 30 = £1.8M per month. So effectively we get MORE than our current market cap back in just one year.
So let the clean up take AS LONG AS IT NEEDS (and even longer if necessary) is what I say. Once that’s done, nothing to stop us getting us about £0.5 Billion just from Erfelden
Even the wisest if worse scenarios and the flow is somehow just 100 bopd, tv hats still worth about £2.5M pa forever and almost forever
Good luck all
But it’s not correct to say “ no news”.
It was confirmed to me in writing that the rod pump has been installed. The bopd will be stated once the flow has been stabilised. We have also been told already that the actual faster pump (900 bopd)will be next Q1 (about February 2024)
We had also been told that reserves has effectively been doubled to about 7.2mb and that’s just in the immediate vicinity Erfelden.
The only hang up so far is the reservoir clean up which is being done in parallel.
We all really should be scraping under the sofa to pick up more shares at these prices instead of letting the mm’s get their hands on them.
The company told be it’s as stated in the RNS if 13th November which outlines in great detail the information including the company and to optimise output. Worth reading again for those if you that haven’t.
As far as tge clean up is concerned, I’m just a layman but we’ve had one or two with experience in the area who say it shouldn’t take too long.
My guess is that all should be much clearer by the AGM if not earlier.
Fao Roger; Ralladev + any others.
I had asked investor relations two main questions ( I will resist complete copy and paste if reply) :-
1. Regards general progress . The response was consistent with response given to others on here as per their posts. Basically the rod has been installed and clean up continues. An update will be provided once flow is stabilised and consistent .
2. Over 6 billion share issue option -
This is apparently consistent with previous years and is more used as an option to be built in for future progress rather than any firm plans.
They’d already told us the company will have up to 15 months to excercise the option if and after approval at the AGM
Basically, I am much reassured now
👍
AGM is now only a couple of weeks away and actually I’m not too worried about either any oil discoveries or their rates of flow - I think we already know these to be exceptional.
But the SP is massively underperforming so earlier I wrote to the company myself. Particularly I’m interested in the allocation of over 6 billion shares to be issued .
Thank you Burnemc, that is very heartening. So it would seem very reasonable to expect salient updates from our Chairman at the AGM in a fortnights time if not earlier.
This also means I can look forward to what plans the Biard has given their proposed motion to issue up to 50% more shares in our company. We know this option for shares will last upto 15 months so what weird or wonderful things can we look forward to hearing.
As the saying goes : You got to be in it, to win it.
It seems that the ROD has now been fitted and that the pump that drastically increases flow of oil production will be early next year. So yes, belated but still the only outstanding part is the clean up.
Tbh I’m not personally too worried if this is taking more time than anticipated. BUT I would be worried if the delays add too much costs.
So is there anyone on here with knowledge that can give any idea of possible time and costs that could be involved here ?
As a layman I haven’t got the foggiest
The last RNS did state commercial production by now but if that has not happened then they’d be expected to RNS, so as I said before, in a way, no news is good news. Though some update by press rather than RNS wouldn’t go amiss.
Anyways, probably the AGM could be the best time to look forward to and particularly the plans for over 6 billion shares.
Well Professonal one thing we can be agreed on is that we’ll get some sort of update soon. The 6 billion+ potential number of shares is too precise a number. And it will increase circulation shares by 50% so yeah, more insight from the company is needed albeit