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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Beacon Energy Plc | LSE:BCE | London | Ordinary Share | IM00BKSCP798 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0025 | -4.55% | 0.0525 | 0.05 | 0.055 | 0.055 | 0.05125 | 0.06 | 255,499,210 | 12:47:18 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Offices-holdng Companies,nec | 0 | -1.05M | -0.0001 | -5.00 | 5.25M |
Date | Subject | Author | Discuss |
---|---|---|---|
29/2/2024 07:54 | All one can say is at least it was done quickly rather than 'he1-ing' it. | officerdigby | |
29/2/2024 07:21 | Larry Bottomley, CEO of Beacon Energy, commented: "We're pleased to have completed this fundraise and thank our new and existing shareholders for their support in the process. Having attempted various low-cost remedial works to bring the SCHB-2(2.) well into production at the volumes expected from the sub-surface results of that well, it became clear that the proposed side-track would be required. As previously guided, based on the excellent reservoir properties and light oil recovered by the well, and the higher rates of production achieved on historic wells in the area, management maintains belief that the well can produce at materially higher levels. The SCHB-2(2.) well demonstrated a material reserve in the Erfelden field, ranging from 4.7 - 7.2 - 10.2 million barrels in the Low, Best Estimate and High case respectively in the Company's assessment. 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." | apotheki | |
28/2/2024 20:22 | the sand blasting was never 100% guaranteed to product a good result. this side track gonna cost just under £2m. mcap at close today £10m? so one way to look at this is that it should not drop the mcap by more than 20%. but then there are new shares placed at discount but in safe hands? i.e. IIs. they aren't likely to flip for small gains imo. | technowiz | |
28/2/2024 20:03 | I lost a substantial amount on BCE's predecessor, and foolishly bought some of this one to re-coup a small part of my losses. Now I'm down even further! Fool! | vatnabrekk | |
28/2/2024 19:49 | The raise is going to be used to do the side track as drilling fluids are hindering the flow rates ...another ball ache Don't bother subscribing to the 500.00 min as the share price usually.hits the fundraise price or less so you can pick and choose hiw much you want to throw In..Very disappointing. PJ | reidy66 | |
28/2/2024 19:18 | I know.. wish they had done it last week when share price was 0.009 why it taken 2 weeks to RNS.. maybe II investors wanted the lowest price possible. well the 0.05p shares don't trade tomorrow. maybe some IIs might be tempted to flip them for profit. so anybody selling tomorrow at 0.05p is selling at a massive loss. been adding to my holding over last couple weeks. last one today at 0.0726 so raise is £2.6m but retail via primary bid is what 10%? thats 260k. if 200 investors subscribe thats only 1.3K each. | technowiz | |
28/2/2024 18:57 | FFS, they give them a 28% discount on yesterday's share price when the share price is already 70% down on where it was last autumn! A great demonstration on how to destroy shareholders' value! Where will it go tomorrow? | vatnabrekk | |
28/2/2024 18:53 | I'm with ii too. there box asks for an amount. don't have much spare funds. either 2K this evening or maybe sell some other shares tomorrow and put in a bit more. the RNS doesn't say how much retail investors will be able to apply for. likely get scalled back? if so any idea what to? | technowiz | |
28/2/2024 17:45 | trust ii to mess things up "BEACON ENERGY PLC ORD NPV Event TypeOffer for Subscription DescriptionBeacon Energy Plc Price per new share: GBP0.0007 (0.07 pence) Expected issue date: 5th March 2024" ii have 0.7, the company 0.5 | currypasty | |
28/2/2024 17:38 | Not looking good. I think this will drop below the placing price!! Background to and Reasons for the Placing On 14 December 2023, the Company announced that as a consequence of operational issues encountered while drilling the SCHB-2(2.) well, the reservoir near the wellbore has been invaded with drilling fluids which are restricting flow rates. The Company subsequently undertook a sand jetting operation with the aim of creating deeper perforations which would increase communication between the oil-bearing reservoir and the wellbore, and therefore increase production rates. Following completion of the sand jetting operation, as announced by the Company on 12 February 2024, a rod pump was installed to clean the well. Disappointingly, although there is not a stabilised rate as yet, it is likely that any sustained flow rate from the well would remain materially below the flow rate expected given the excellent reservoir quality encountered. These encountered flow rates suggest that the reservoir near the wellbore remains invaded with drilling fluids, which is continuing to restrict oil flow. This invasion of drilling fluids has been further confirmed by pressure data which demonstrates that the reservoir remains at original pressure of approximately 172 bar, consistent with the neighbouring Stockstadt field prior to production, and that the well has a significant "skin" effect which is impeding flow. As a result, the Company has taken the decision to undertake a side-track operation of approximately 100 meter length in order to by-pass the damaged reservoir by between 2 and 10 meters. A rig, all long-lead items and the relevant oil field service contractors have been secured to undertake the side track which is expected to commence in the first half of April 2024 | monet | |
28/2/2024 17:25 | the Placing to raise approximately £2.6 million (before expenses) through the issue of approximately 5,137,000,000 new ordinary shares of no par value in the capital of the Company ("Ordinary Shares") (the "Placing Shares") at a price of 0.05 pence per Placing Share (the "Issue Price"); | currypasty | |
28/2/2024 13:30 | Digby - you can also look at it that way..... They used twitter just 2 weeks ago so why not just give another update on progress? | sos100 | |
28/2/2024 13:26 | I disagree.RNS reads as interim update coming once stable flow achieved (that's late late)Then April for final clean up and submersible pump install, and maximal rate. | officerdigby | |
28/2/2024 13:22 | Thanks SOS. | vatnabrekk | |
28/2/2024 13:01 | Really poor investment but I thought next RNS would be April? "The impact of the sand jetting will only be known once production has been restored and a stabilised and sustained flowrate from the rod pump has been achieved, at which time the company will provide an update. Once the well has been fully cleaned up following the sand jetting operations, which is anticipated to take several weeks, it is expected that the rod pump will be replaced with an Electrical Submersible Pump ("ESP") to maximise production - this is currently scheduled to take place in April 2024." | sos100 | |
28/2/2024 11:39 | I hope this isn't going the same way as its predecessor! | vatnabrekk | |
28/2/2024 11:07 | recommencement of production should (according to last RNS) have started a couple of weeks ago now... where is the update ? | currypasty | |
12/2/2024 21:36 | deffo flow rate news within next 2 weeks. then clean up 4-5 weeks that brings us into april. | technowiz | |
12/2/2024 08:02 | if all goes well then this is suppose make substantial profits🤞 | sos100 | |
12/2/2024 07:47 | Clean up several weeks..back to sleep. | whoppy | |
12/2/2024 07:13 | yup. so expecting another RNS with stable flow rates this week? RNS says coming days. | technowiz |
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