Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Even a broken clocks right twice a day!
Slight delay then, not anything BCE can do, at least they kept us informed. A bit more patience is needed before we get over the line
7 or 8 out of 10 for me, we know the oil it there and lots of it, just have to hope this time they can get it flowing at a decent rate.
Many of us will need to hang on now, still April isn’t that far away
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 think RNS Monday with good news on flow rates, BCE do seem to like a Monday RNS
Indeed, there could be news next week.
Assuming the sand jetting operation has a level of success and we have a flow rate of somewhere between 100 and 200 bopd once the rod pump has be reinstalled, out of the longer term holders, who feels they would be tempted to sell then and who would hold on for the ESP to be installed in April and wait for results?
The RNS is just to keep us all informed of progress, should be taken as a positive as good news will eventually come to those who wait
And not one from white night today!
More of your negative spin whitenight, I don’t think the RNS implied they were expecting the flow rate to improve to much on its own, that’s why they are sandjetting and installing a ESP eventually. Still a bit more patience required by investors here
Yoglet are you white night Ind disguise?
Reckon white knight is just a shorter and a bit of a misery, he/she/they know their getting to a few on here and no doubt taking pleasure from it.
We’re all here to make money by whatever means, live and let live and what will be will be. White knight won’t influence that but might give a few the jitters! It’s all a game really, just stick to the reason you invested here if you still believe things will come good
I believe they will eventually arrive at their destination but I don’t necessarily trust the road they are taking.
The oil is there and lots of it, just don’t like the leaky news before us PIs get updated
After the events of this week, I DO know that BCE is now producing oil albeit less than they predicted already due to the mentioned delays, I DO know eventually they will produce up to 900 bopd. However, I DONT trust Larry Bottomley and his board, he’s just as shady as Leslie Peterkin was.
The share price WILL recover here once the clear up is finished and they improve the flow rates in Q1.
I WILL continue to be patient until they reach their predicted flow rates and I WONT sell a share until this has been achieved.
People got spooked by the selling and no news! Now we have the explanation as to why the delay and in the long term nothing has changed!
“The low production rate indicates that the reservoir near the wellbore has been invaded with drilling fluids which are restricting flow rates. This is not uncommon in situations where hole stability issues have occurred during drilling due to the use of high-density drilling fluids to stabilise the hole.
· The well continues to clean-up, albeit currently at a slow rate. Even at these low flow rates, production is commercial with field revenues exceeding field operating costs.
· The Company will undertake industry-standard well stimulation in the fourth week of January 2024, which is expected to improve production”
Will wait and see what January and beyond brings.
Not sure if you have the ability to read yet Pboo? There was an RNS this morning explaining the delay!! Once clear up is complete they will get to 900bopd. It’s commercial nothing you can say otherwise now
Perhaps this will settle a few nerves or the doubters, still a good investment long term
That explains yesterdays sell off then, must have been leaked to Larry’s Mates about the delay, still once the fluids are cleared up then they are still on for faster flow rates and 900bopd at some stage, overall a good RNS
For some one who just drops in once a week you still manage to post 3 or 4 times a day 😉
Be patient, news will land soon enough
Well said RJ, patience is what’s needed, we know it’s down there and we know it’s coming out soon, the RNS will arrive when the company has an operational update. Any LTH shouldn’t be bothered by the daily noise here
We all know it’s coming, perhaps a steady rise from here on