Beacon Energy Share Discussion Threads

[currypasty] 06/3/2024 12:41

spread bet

[tomoneyfox] 05/3/2024 11:07

reduces holding from 31.8% to 23% due to dilution also reduced 201 million through selling (presumably) No big deal.

[apotheki] 05/3/2024 10:23

Is that due to the recent placement?

[monet] 01/3/2024 14:30

115,000,000 sell at 0.045

[reidy66] 01/3/2024 09:35

93m traded and no.sp.movement !

[gist328] 01/3/2024 02:14

How much are BCE's owners & employees taking out of the money pot to make them raise funds so often?

[bri15] 29/2/2024 14:36

Vrci is a good one to get your losses back,multi bagger,soon.

[apotheki] 29/2/2024 14:20

Absolutely spot on Paul, time and time again this happens to the unwary investor and it's scandalous how easy it is to get away with it. Some of the financial press are complicit in this - on a regular basis. Perhaps they are plain lazy and don't do any research before they write a glowing article for a company promote - or perhaps they are just interested in any old story and just haven't got a conscience. Perhaps they don't have any financial experience at all and are just as unwary as some PIs. My tactic now is that if there is a sudden concerted effort by a co. to ramp its share price and its balance sheet is low on cash then if I'm holding the share I sell into the price spike - more often than not there's a fund raise coming soon.

Fundraises Generally

A pattern seems to be emerging, where speculative companies run out of cash, then they pump the share price with upbeat-sounding RNSs. Shortly afterwards they announce a discounted placing into any subsequent share price rise. Private investors speculating on these shares, buying the price rises, seem to be lambs to the slaughter.

It doesn't seem right to me that shares are still trading, when the company is secretly offering discounted shares to larger investors in placings. It's often obvious from the share price that news has leaked. We really do need the rules changed (and/or enforced), so that shares are suspended when any company decides to do a fundraise. Also we need quicker, cheaper mechanisms for companies to raise cash.

In the meantime, there's a simple way to avoid being clobbered by a discounted placing - don't buy or hold any share where the company doesn't have a cash runway of well over 12 months. Ideally investments should be companies which are profitable and cash generative, hence won't ever need to raise more cash just to keep the lights on.

Jam tomorrow/ blue sky shares are a graveyard for optimistic investors, avoiding these things has been the biggest boost for my personal portfolio returns. That said, the odd one multibags, which is what excites people.

[greypanther2] 29/2/2024 13:48

There are a few things that I find puzzling about yesterday’s disappointing news. The first is that we’ve only now been told that we owe €1.1 million towards the cost of the Schwarzbach-2 well, when not so long ago we were advised that Beacon had sufficient funds to pay for the jetting operation. IMO this was disingenuous, to say the least. If we’d known that €1.1 million was still owed we might have guessed that a placing was more than likely to take place. As a result, some of us might have taken defensive action. My second concern is about the sand jetting operation itself. I’ve been told that this process can penetrate up to a metre into the formation, which is considerably greater than the depth of most reservoir invasion zones. So how come we didn’t get a better result? I strongly suspect the answer is that the reservoir may not be nearly as good as we’ve been told by Beacon. And thirdly, we were told by Beacon that both the Pechelbronner Schichten (PBS) and the Meletta Schichten reservoirs were present and of pretty decent quality. Yet there’s not been a mention of the Meletta reservoir since then. I’m sorry to sound negative about all this, but I’m starting to smell a fish here.

[monet] 29/2/2024 10:06

Bloo have you check your spam email? I got email for primary Bid yesterday.

[bloodhair] 29/2/2024 10:00

I'm registered with Primary Bid and didn't get any notification yesterday of this fund raise so was surprised to see this drop this morning. Turning into a bit of a fiasco this one

[sos100] 29/2/2024 09:12

half of the placing is on wages and paying off some debts....says everything.

"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.


lets see if this produces anything

[officerdigby] 29/2/2024 07:54

All one can say is at least it was done quickly rather than 'he1-ing' it.

[apotheki] 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."

[technowiz] 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.

[vatnabrekk] 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!

[reidy66] 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

[technowiz] 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.

[vatnabrekk] 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?

[technowiz] 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?