Beacon Energy Share Discussion Threads

[gist328] 21/11/2023 15:12

Too many shares in issue, as long as pumpers & dumpers make their 20% margins . Shares will remain stagnant

[haff1] 21/11/2023 10:06

Disappointing experience with this one to date!

[karina] 16/11/2023 15:36

1585 are sells

[cal57] 16/11/2023 15:22

Ye just thinking it should be moving up with the volume of buys.Unless large sell order in background .

[karina] 16/11/2023 14:33

Some decent buys today but seems we are being kept in a range for now? Not much to buy online currently FWIW

[ianjan] 13/11/2023 20:54

Are directors free to buy or are they still in a closed period ? ie inside information only a few directors buys would be nice

[apotheki] 13/11/2023 16:36

30,000,000 BUY !?!?!

[dead duck resources] 13/11/2023 13:40

Next steps

- Installation of rod pump ("a pump is currently being installed")
- completion of clean-up ("expected to continue" through November)
- production to stabilise
- replacement of pump ("The expectation is to install an ESP in the middle of Q1 2024
... once the well is fully cleaned up and production has been sustained for a period")

"The Company 'expects' to provide another update after establishing a stable flowrate"


That's it for 2023 if no update until stable rate is available. See you in 2024 folks!

[dead duck resources] 13/11/2023 13:26

This post on Telegram shows we have a high calibre of investors on board here, not at all looking to sell into any rise. Perish the thought.

i have heard from contacts in drilling world (Halliburton) that the whispers are that all cleaned up and good flow rate- i have had to delve deep into my contacts for this. i am MD of an oil company out of Houston that supply many oils to service companies dealing with offshore and onshore drilling. GLA

[maccamcd] 13/11/2023 12:56

Every spiv and kunt owns this waiting on today's news to sell it for a profit. Me included.Basic stock market small cap news supply/demand playing out

[vatnabrekk] 13/11/2023 12:52

What's going on here? Surely this can't be peeps who bought in at the placing at 15p offloading at a loss? Could it be those who bought in between 6th and 10th October at slightly lower than 15p? Doesn't really seem worth it, especially when the potential is now looking so good.

[euclid5] 13/11/2023 10:45

For a rough estimate, however, we can use the CPR NPV10 unit valuations in the previous high case (which looks broadly consistent with the new, best estimate case) of €18.3/bbl and apply it to the updated reserve numbers.

This suggests an implied NAV of US$141.6m in the best estimate case, and just under US$200m in the high case.

[sos100] 13/11/2023 09:34

those that took part in placing still dumping imo

[vatnabrekk] 13/11/2023 08:48

The sell-on-new mob seem to have rolled up!

[apotheki] 13/11/2023 08:37

New note from Tennyson:

Beacon Energy (BCE LN) announced a substantial increase in reserves at its Erfelden oil field this morning following its successful SCHB-2(2.) well drilled earlier this year.

As previously announced, the well, situated in the upper Rhine basin onshore Germany, encountered a thicker than expected reservoir section with excellent reservoir properties.

Furthermore, the company’s understanding of the subsurface model has improved, with new datapoints tying the reservoir to seismic lines allowing for better mapping of the reservoir across the field (particularly into the adjacent Schwarzbach South segment).

Pressure and gas ratio analysis suggests that there is no material fault offset between the two segments, and accordingly the company expects that the currently defined contingent resources associated with this section to be reclassified as reserves, justified for development.

The upshot of these revisions is that the best estimate (i.e. 2P) reserves will increase to 7.24 mmbbls (+91% from previous estimates), with the high case now above 10 mmbbls recoverable (+77%). These additional reserves will be incorporated into a new full field development plan, from which the full economic impact of the additional volumes could be established.

For a rough estimate, however, we can use the CPR NPV10 unit valuations in the previous high case (which looks broadly consistent with the new, best estimate case) of €18.3/bbl and apply it to the updated reserve numbers. This suggests an implied NAV of US$141.6m in the best estimate case, and just under US$200m in the high case.

Meanwhile, operations to start commercial production from the SCHB-2(2.) well continue, with the rod pump (required to finish clean-up operations) in the process of being installed. Production at the rod pump capacity of around 250 bbls/d is expected in the next fortnight, with an electrical submersible pump (ESP) to be installed once clean-up is complete (anticipated in mid-Q1 next year).

With ESP support the well is expected to produce at rates in excess of 900 bopd based on industry calculations, however the full productivity of this well can only be established once clean-up operations are complete.

The next steps for the company will be an update once the rod pump is installed and producing. Meanwhile adjustments will be made to the original field development plan to account for the additional volumes discovered by SCHB-2(2.), alongside a formal update of the CPR, likely in the new year.

[bad gateway] 13/11/2023 08:36

re my concerns from the interims..

"Management's base case is that the SCHB-2 well will continue to clean-up and by the end of November 2023 production flow rates from the well will be consistent with, or exceed, the "best estimate" outlined in the Competent Persons Report ("CPR") published in December 2022.

Management have also considered a number of downside scenarios, including scenarios where the well clean-up is more protracted, the production flow rate from the well is materially below the "best estimate" outlined in the CPR, or additional activities (and expenditure) are required in order to increase flow rates.

Under the base case forecast, the Group will have sufficient financial headroom to meet forecast cash requirements for the 12 months from the date of approval of these consolidated financial statements.

However, in the downside scenarios, in the absence of any mitigating actions, the Group may have insufficient funds to meet its forecast cash requirements. Potential mitigants include deferral and/or reduction of expenditure and raising additional equity or debt funding."

Note the base case being the "best estimate" from the Dec 22 CPR which I believe was 800bopd and they expected that by end of Nov.
Obviously not going to happen now hence my questions about funding.

[wally27] 13/11/2023 08:22

#BCE currently around £20 mil mcap...


New note from Tennyson:

Beacon Energy (BCE LN) announced a substantial increase in reserves at its Erfelden oil field this morning following its successful SCHB-2(2.) well drilled earlier this year. As previously announced, the well, situated in the upper Rhine basin onshore Germany, encountered a thicker than expected reservoir section with excellent reservoir properties. Furthermore, the company’s understanding of the subsurface model has improved, with new datapoints tying the reservoir to seismic lines allowing for better mapping of the reservoir across the field (particularly into the adjacent Schwarzbach South segment). Pressure and gas ratio analysis suggests that there is no material fault offset between the two segments, and accordingly the company expects that the currently defined contingent resources associated with this section to be reclassified as reserves, justified for development.    The upshot of these revisions is that the best estimate (i.e. 2P) reserves will increase to 7.24 mmbbls (+91% from previous estimates), with the high case now above 10 mmbbls recoverable (+77%). These additional reserves will be incorporated into a new full field development plan, from which the full economic impact of the additional volumes could be established. For a rough estimate, however, we can use the CPR NPV10 unit valuations in the previous high case (which looks broadly consistent with the new, best estimate case) of €18.3/bbl and apply it to the updated reserve numbers. This suggests an implied NAV of US$141.6m in the best estimate case, and just under US$200m in the high case.  Meanwhile, operations to start commercial production from the SCHB-2(2.) well continue, with the rod pump (required to finish clean-up operations) in the process of being installed. Production at the rod pump capacity of around 250 bbls/d is expected in the next fortnight, with an electrical submersible pump (ESP) to be installed once clean-up is complete (anticipated in mid-Q1 next year). With ESP support the well is expected to produce at rates in excess of 900 bopd based on industry calculations, however the full productivity of this well can only be established once clean-up operations are complete. The next steps for the company will be an update once the rod pump is installed and producing. Meanwhile adjustments will be made to the original field development plan to account for the additional volumes discovered by SCHB-2(2.), alongside a formal update of the CPR, likely in the new year.

[apotheki] 13/11/2023 08:13

Beacon Energy Chief Executive Officer, Larry Bottomley commented:

"This internal assessment following the drilling of SCHB-2(2.) confirms the material impact the well has had on our reserve base in both the Stockstadt Mitte segment of the Erfelden field and the de-risked adjacent Schwarzbach South segment. As a result of the SCHB-2(2.) well, the Company believes that the Best Estimate reserves on the Erfelden field have increased from 3.8 mmbbls (pre-drill) to 7.2 mmbbls. The development of both segments that make up the central part of the Erfelden field will now be incorporated into a revised field development plan to realise the value from the material upgrade in the Company's assessment of reserves.

"We remain fully focused on bringing SCHB-2(2.) into optimal production as quickly as possible. We are working hard across all aspects of the subsurface evaluation and we are undertaking a comprehensive review of the drilling and completion operations to incorporate these learnings into an updated field development plan to deliver this additional value.

"We look forward to providing an update on the clean-up and production from the well in due course."

[steephill cove] 13/11/2023 08:03

BCE reserves nearly DOUBLED from 3.8 to 7.2M Barrels of Oil.

The high estimate nearly TRIPLES it to 10M Barrels of Oil.

Well done BCE Management Team 👏

BCE share price 📈⬆5039;🆙✅;💪

[steephill cove] 13/11/2023 08:01

BCE fundraised GBP4.3 million with new and existing shareholders on 15 September 2023.

They do not need further funding 😆

Ignore the derampers trying to suppress the very positive BCE RNS news today 📈⬆5039;🆙✅;👍