Member Info for Iwonttell

Bad for me as a gas user in Spain, gas delivered in great big orange bottles.

Good for me as a CHAR shareholder.

If only they would get on with the flow resting and tell us what is there!

Why do you come on here with your negativity, especially on Friday.

Who wants closure anyway?

I want a well that is open and flowing, like most people here.

Or is Halliburton just delivering the acid a chemicals?

If so it has taken a long time.

Https://www.api.org/~/media/files/oil-and-gas/hydraulic-fracturing/acidizing-oil-natural-gas-briefing-papar-v2.pdf.

Sorry, old timer, not tech savy so can’t add as link.

Alternatively, go to ZPHR chat page today where I found the link.

If you can connect then very informative regarding the well acid wash.

If I interpret this correctly, they believe that a lateral well is now needed to penetrate the main reservoir.

Good morning.

Looking for money.

It is a legal requirement in Germany to commence insolvency proceedings within a prescribed period of the insolvency becoming known.

It is Rhein Petroleum that has started proceedings. This should not affect BCE’s ability to continue trading on AIM if it re-lists. Two separate legal identities, albeit interconnected.

Mattpr

I can only assume that the BOD have done you some sort of serious harm, or that your losses here are substantial leaving you embittered. Your posts regarding them are so vitriolic!

There are good and bad guys everywhere, even on this chat board. The directors will be making decisions in what they believe is the best interests of the company I.e. Themselves initially and us shareholders eventually. Bad decisions are not criminal. If you have proof that any of the BOD are criminals, perhaps you should share it with us all.

I have run several successful companies and have been guilty of some very bad decisions, but I am not a criminal. I tend to skip your posts as they are mainly nasty and unsubstantiated.

Jasper

Thank you for your reply. You are privileged, This gives more reason for hope and aligns with my thoughts and conclusions.

Alan.

Please share ‘all the dirt on them’. I would be interested to read it.

Itsawrap

Agree with your calculations, more or less. This assumes no extra production as a result of the clean up attempt. On this sort of revenue, the company could continue and perhaps attract money for a lateral drill. They may have missed the main reservoir indicated by the seismic geological survey.

Hello Sparky,

You may well be correct.

I have always had a positive outlook. If this present funding falls through, it will probably be because something ominous has turned up.

In the audit?

However;

The audit has to be finalised at some stage allowing the possibility of a re-list.

The company probably has some scant reserves, and if one investor saw promise here, there is always another.

Until we are told that it is over, it is not over.

As for not investing what you cannot afford to loose, that always seemed to me to be a platitude. None of us can afford to loose except pocket change, the odd ten bob punt.

It is when people borrow to invest, a real contradiction, that the saying is appropriate.

I will wait until four this afternoon, and then some.

You don’t get locked anywhere for declaring bankruptcy.

Hello Ripley,

If I understand your post correctly,

You own a load of shares here that you overpaid for, and are now trying to lower your average. Good luck.

Courdelion.

When the Moors were defeated in 1492 in Spain, they were made to convert or suffer.

I live in a beautiful, fruitful, peaceful part of Spain thanks to the crusades, (your lot), thanks, whether you understand Ripley or not.

What one has to take into account is that a company may reach a point where they are incapable, either due to lack of finance or expertise, of taking the project further alone.

ZPHR is still currently an explorer, not a producer. Even if the results of the testing are positive, once proven, a jv is often sought to speed up development.

CHAR recently brought in a FTSE 250 company to help develop their offshore finds. That entailed giving a big chunk of the cake away, but production is now so much closer, and real revenue with it.

I’m coming to the end of my seventh decade, I would willingly give some of the pie or cake away to get some cash in the bank more quickly.

Really depends on your perspective.

They have to continue as Beacon Energy while under the jurisdiction of the insolvency Court.

If they are eventually declared insolvent, the court will supervise the winding up and the sale or distribution of any assets.

As I understand the situation, the company is legally bound to enter into preliminary insolvency proceedings within a prescribed period of learning of the insolvency.

The Court will then review the situation as presented by the company.

If the company can show their capability of continuing in business, with restructuring, and no creditor objects, then the Court can approve the repayment proposals based on the submitted business plan.

It is very early to be calling the kettle black. Murky grey perhaps.

Let us all be a little more patient and see just how this unravels. The company and its directors will now be under the scrutiny of the Court.

Time will tell, until that time, all is not lost.

Also, when was it issued?

May I ask. Was that a private communication or a public source?

Ezhic. Keyboard or fumbling fingers. Sorry.

Ethic,

A well balanced post. Appreciated.

More strange happenings!

My AJ Bell share account recently went from showing a value of 0.272p to zero.

Today, it is now showing a value of 0.23p.

I have written to Robbie, just now waiting to see if there is any reply to clarify funding situation.

More strange happenings!

My AJ Bell share account recently went from showing a value of 0.272p to zero.

Today, it is now showing a value of 0.23p.

I have written to Robbie, just now waiting to see if there is any reply to clarify funding situation.

Hi Surfit,

You are very welcome to your opinion of the current state of affairs, and I welcome your input to this CHAR chat. That is what it is after all, a chat by shareholders and others who do not have in depth or privileged knowledge regarding the company. Just what we have managed to glean and pick up from odds and ends of research.

However, I assume the outcome of that research was positive, and that is why we are invested here.

Anchois success may re rate the sp but it will take a long time to produce the income that you allude to.

I did mention onshore, and we all await the well test and results. Profits may well be limited to the short term but are likely to be quick, given the closeness of the necessary infrastructure. As more wells are drilled, assuming the current well produces, the income stream will multiply.

Meanwhile there is depth of value in all the other sectors that in time will either make money or be sold in one manner or another, as the BOD deem appropriate.

People are obviously still willing and keen to invest in the company, producing working capital for it. Many companies trade and raise money without profitable income in the formative years. That is why markets such as AIM are there.

I believe that the farm in with a FTSE 250 company with proven experience in successful offshore drilling, with assets and the ability to move the project forward was a master stroke.

If one of the majors had bought in, everything may have been stacked on the asset shelf for another day.

We, on the other hand, are fast approaching the offshore drill, unthinkable a few months ago. Well done CHAR.

My view of things is obviously diametrically different to yours. That why we are here.

No harm in some wishful thinking.

The lack of information here is deafening.

I have up to now been supportive of the company.

However, like an over ripe plum, this is starting to taste sour.