From Tennyson Research Note (14th Dec)14 Dec 2023 13:14
Beacon shares have been weak over the past few weeks as investors nerves around the clean-up set in. While these operational delays and challenges are frustrating, some investors have been detracted from the fact that the company has a 100% stake in a >7 mmbbls discovery onshore Germany, with an NPV10 of over US$140m. Furthermore, following a small equity raise earlier this year, the company is comfortably funded to raise production from the Schwarzbach well and to organically build cash flow to continue developing the field. This, in our opinion presents an opportunistic buying opportunity for longer sighted investors