The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Suggest any potential investors to look at the latest presentation https://beaconenergyplc.com/media-centre/print-digital/
Nobody knows as they were below 3%, but the last RNS mentioned that they went below 3% on the 25th April, so we had 6 trading days since and we all know that they are among the sellers, hence their position is coming down all time, assuming the want to be full out sooner rather than holding some for the results. Add to that an increase in interest and volume and May will as we know be very interesting DYOR and enjoy the long weekend
Just the start, hold until drill in Q3 and sell all or part before results dyor
Personally think we will break above that range soon, we would have done so already had we not had Spreadex selling 600,000,000 which they picked up in the raise at 0.05. Finally the rig is been mobilised, drilling side track thereafter soon, long wait but May will provide the excitement and the market makers know it.
Very interesting that from this morning all market makers have increased their minimum bid ask size from 1.5 mio to 3 mio shares, guess in anticipation of growing volumes into May.
Very good interview with CEO 48mins in https://twitter.com/RoastPR/status/1784532225821675864
As mentioned May will be interesting, we all have different views but in my mind this is the time to add or hold if already invested. Depending on risk appetite sell out fully or reduce position ahead of results and clearly if you hold some into results be prepared to a larger move higher or lower depending on flows.
Interesting also the end of the RNS where Larry states 'debt': ".....once a sustained flow rate is achieved....Company aims to move swiftly to optimise and update the Erfelden Field Development Plan, a Competent Persons Report and debt funding workstreams required to accelerate further development drilling to realise the full potential of the Erfelden field"
In any case, one step at the time, side track and increase of flows as first goal.
From a chart perspective, 0.07p to close the gap down and thereafter 0.1p as further short term target.
Spreadex is now below 3% so they will offload further into any strength as they like without any more TR1 RNS required, once the market knows that they are out of what they want to sell over the next week or so, the shares should have a further push higher before results. The upside is great but also the risks, so do invest considering this still a high risk proposition even if we have at least the starting point of having found oil which would make the asset worth something in any case. Enough from me. DYOR
May will get very interesting. Great RNSs on both fronts, Spreadex now below 3% and operational coming together as per below:
29 April 2024
Beacon Energy plc
("Beacon Energy" or the "Company")
Erfelden Operational Update
Beacon Energy (AIM:BCE), the full-cycle oil and gas company with a portfolio of onshore German assets through its wholly-owned subsidiary, Rhein Petroleum GmbH ("Rhein Petroleum"), announces that the drilling rig for the SCHB2 sidetrack has been released by the previous operator and will shortly commence mobilisation to the Erfelden site.
Sidetrack operations are expected to commence on or around 8 May 2024. The sidetrack operation itself is expected to take approximately 14 days. Once the rig has been demobilised from the Erfelden site, production is expected to re-commence during the last week of May 2024.
A further update will be provided following completion of sidetrack operation and once a stabilised and sustained flowrate has been achieved.
Larry Bottomley, CEO of the Company, said:
"We look forward to the commencement of the sidetrack operation and remain fully focussed on establishing the optimal production capacity of the SCHB-2 well. Once a sustained flow rate is achieved, the Company aims to move swiftly to optimise and update the Erfelden Field Development Plan, a Competent Persons Report and debt funding workstreams required to accelerate further development drilling to realise the full potential of the Erfelden field. We look forward to the results of this operation and providing an update to shareholders in due course."
Only guessing and only a TR1 will confirm but would suspect that Spreadex must have reduced their position further over the last week and an RNS update might be due soon, which in turn could move the share upwards next week. Let’s see and enjoy the weekend first DYOR
Level 2 looking stronger with 3 market makers bidding now at 0.05, let’s see but usually leads to an uptick dyor
Very interesting product, well done #ACRM
ID78 There are no set rules, but a buy appearing as a sell does usually happen when the execution price is below the mid between bid and ask at that time. The 'unknown' are often larger trades done during a day or more by a market maker and booked either at the end of the day or the following morning.
As expected. Buy and hold your nerve for a few weeks and exit before drill results in May if you want to take less risk, as with any drill the result is a gamble, but at least we know there is oil which is clearly increases the chance of success vs an exploration or appraisal drill DYOR
Buying increasing, ask to move soon upwards and in my mind buying at or below 0.05p will be a thing of the past soon. DYOR
Added some more at 0.05, nothing has changed. Blubay post raise they have Euro 4.2mio and of that Euro 1.1mio is for the payables, so that amount is taken care already. See last presentation from 13mins 30secs https://www.beaconenergyplc.com/media-centre/print-digital/
2 week delay out of their control is neither here nor there, personally happy about it as Spreadex will have another 2 weeks to slowly churn and sell their remaining position, which will finally allow for the brakes to come off pre drill DYOR
Looks as if peak in Sep 2022 was around 87p and around 80p again in Feb 2023
Some more yesterday, some resistance around 40-42p but once that is broken shares could move towards the 80p previous highs. In my mind one of the cheapest plays out there DYOR
Good to see Spreadex reducing by another tranche up to 5 April. Another week or so and the brakes could come off once they have done most of their selling, as usual some will position ahead of their exit.
They wanted to raise £5-6mio, order book of £22mio and took only £7.5mio. Reality is that MCAP is only £12mio or so at admission whereby HE1 is between £60-70mio. Time will tell, let's the churn start but with the interest around helium HEX could move to 20p over the coming weeks and higher into the Q3 drill. Check out the US location, great board experienced in the sector and with a clear plan with drill in Q3. DYOR