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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Beacon Energy Plc | BCE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.0036 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.0036 |
| Industry Sector |
|---|
| CONSTRUCTION & MATERIALS |
| Top Posts |
|---|
Posted at 30/10/2024 12:22 by gist328 Shoot BCE in the back of the head and put it out of its misery |
Posted at 09/10/2024 13:19 by steephill cove Upon relisting, I expect fairly soon after, a positive BCE RNS about the well clean up & improved flow rates ✅Post this, I expect a BCE share consolidation to increase the share price & improve market perception 📈 |
Posted at 09/10/2024 08:20 by steephill cove BCE 2023 Annual Report and H1 2024 Interim Results during the week commencing 7 October 2024.Relisting by Friday 11/10 ✅📈 |
Posted at 20/8/2024 12:16 by gist328 BCE should get Chinese drillers, they'll do the job super fast rather than the mates rates which is ridiculously amateurish |
Posted at 29/6/2024 06:14 by pwhite73 HMS687 - "Anyways, the point I were trying to ram home to SeeetK is to NOT get carried away by emotion"sweet karolina is not getting carried away by emotion. He simply doesn't understand the difference between an investment and a punt. You would invest in BCE only if the company met the critieria he clearly explained and understands. You would take a punt on BCE because the share price has dropped 70% and there is a slim chance the company will come to an agreement with its creditors, sign off the accounts in August as a going concern and stablelise the oil flow between 50 - 100 bopd. |
Posted at 28/6/2024 14:23 by citys2874 BMN and BCE breaking out today |
Posted at 28/6/2024 09:53 by transact2018 Tennyson Broker Note Beacon Energy (BCE LN) announced another update this morning while the SCHB-2 well continues to clean up. The company has reiterated its expectation that the well will stabilise at a rate in the region of 50-100 bopd, which, including a small amount of production from elsewhere in its portfolio, is expected to generate around 2.3-3.7m of sales per annum (at US$85/bbl Brent). With cost cutting initiatives underway, cash operating costs are expected to fall to the region of 1.3m within the next 3-6 months (down from 2.5m currently), which will mean that the company should have a platform to grow from. There are creditors to pay, including current deferred drilling expenses which we estimate total in the low single digit millions. Beacon has engaged with 90% of these, in order to establish a deferred payment plan which will fit with the production profile of SCHB-2. Once agreements are in place, the company should be able to sign off on its accounts, which were due by this coming Monday. The shares therefore will be suspended on 1 July (Monday morning), with the expectation that the accounts will be published, and the suspension lifted, during the first half of August. Ultimately, while the results from SCHB-2 are clearly very disappointing, we believe that there is enough for the company to build from. Understandably, the share price action has reflected the uncertainties around the company's ability to survive, however we now see a clear plan to keep a grip on what still could be a valuable asse |
Posted at 24/6/2024 09:34 by sweet karolina2 PWhite,The oil may well be there, but the question is can it be extracted economically. On the performance so far the answer is a resounding no. The original well did not produce much, declined quickly and left massive debts - "The Company will also look to commence discussions with the creditors of Rhein Petroleum." We are not told what security they have over the assets only that there are no parent company guarantees. Could Rhein's creditors take the field and the plant? The 100-50 BOPD being guessed at will not sustain the company and there are significant BCE bills outstanding. With the share price crash there is no chance of getting funding in place before suspension and suspension will make it very difficult to secure any funding. When the annual report does come out, it would be very surprising if the auditors sign off on the company being a going concern - it has no realistic way of paying its bills when due. Why is 0.006p "worth a punt"? by far and away the most likely outcome is 0p and if by some miracle they can achieve funding to both survive and to drill again, the only guarantee would be of massive dilution. Remember when a share goes to 0p you lose 100% regardless of what price you bought in at. |
Posted at 22/6/2024 10:11 by sweet karolina2 It does amaze me that people would rather listen to rumours than to read the CPR.In terms of complying with AIM rules 10 and 11, BCE are not bad and by overall AIM microcap standards are actually very good (it is a low bar). Some sort of RNS update on the well and possibly how they intend to finance ongoing operations (assuming there are going to be any ongoing operations) is likely to released next week. Some unscrupulous people have tried to profit be releasing positive rumours and others have tried to do so by releasing negative rumours. Wait for the RNS and then you will know one way or the other. In the meantime read the CPR in particular this bit: "It is important to highlight the significant faulting that is affecting the area. This is obviously linked to the complex tectonic evolution of the area that was affected by an extensional event in late Eocene and Oligocene which lead to the development of the Rhein Graben, subsequently replaced by a strike slip regime in the early Miocene. This change of tectonic regime has caused the re-orientation of the fault pattern from NNE-SSW oriented normal faults to a set of NNW-SSE oriented en-echelon faults. The complexity of the faulting can be considered one of the main reasons for the failure of some drilling projects (e.g. STKM-1) but can also be a key factor in isolating compartments within a field, such as Schwarzbach Main in the Erfelden field that sees a different, shallower oil-water contact (perched water) than in the neighbouring fault blocks. These structural and stratigraphic complexities have been mitigated and partially resolved by the acquisition and interpretation of 3D seismic data." "The 3D data used for this evaluation is a pre-stack time-migrated volume which has had Q compensation applied to reduce the effects of energy attenuation and wavelet distortion due to velocity dispersion. The entire field area is covered by these data. Overall, the seismic imaging at the target Oligocene levels is fair to good for interpretation, with good amplitude and reflector continuity observed. However, part of the Schwarzbach South block lies in the fault shadow of a major antithetic fault complex. It has been suggested that the amplitude ‘chaos’ observed here might be due to intense faulting, but it is perhaps more likely that the reflector continuity here has been reduced due to the complex ray paths and attenuation caused by the overlying fault (Figure 5-1). Given this block’s proximity to the major fault, it is possible that the reservoir is highly fractured here, although it is uncertain how this will affect the continuity or dynamic properties of the reservoir." It is highly likely that the problems establishing decent stable flow rates are associated with the highly faulted nature of the area. There is not a clear picture of where a good target might be, so any further drilling has the same risk of failure for the same reason. That will impact both operational decisions and whether further finance can be raised and at what price. |
Posted at 31/5/2024 16:43 by lageraemia HarryHaven's first post on BCE since August 23........Interesting. I'm a UJO holder with a few BCE shares with punt money (down a lot) so will be interesting to see what RNS we get on Monday. |
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