Beacon Energy Share Discussion Threads

[apotheki] 18/8/2023 09:53

Beacon Energy Chief Executive Officer, Larry Bottomley commented:

"The SCHB-2(2.) well has now been safely, effectively and successfully drilled and logged, a testament to the quality of the Rhein Petroleum operating team who delivered a positive outcome despite encountering certain technical challenges through the drill. The well has encountered oil bearing reservoir in the Meletta and PBS sandstones, both shallower than predicted with the PBS being a thicker interval with more sand and of better quality than pre-drill estimates. These results imply significant upside to the reserve range assigned to the Stockstadt Mitte segment in the CPR published by the Company in December 2022, and this will be the focus of one of the post-well projects.

"The electrical wireline logs demonstrate that this well has the capacity to materially increase the Company's production and revenue as the well is brought onstream through our wholly-owned and operated existing facilities. This is a very important step in the Company's aspiration to build a self-funding platform for growth.

"In addition, the data provided from the SCHB-2(2.) well will help to de-risk the 2C contingent resources of 2.4mmbbls assigned to the adjacent Schwarzbach South segment which will be targeted during the further development of the Erfelden field.

"The operations team will now focus on completing the well for production and we will update the market as appropriate".

[z1co] 18/8/2023 09:53

Today's news was excellent , the share price will continue to rise higher in anticipation of good flow rates.

[jameschilds176] 18/8/2023 09:52

Placing likely to be 0.001

[jameschilds176] 18/8/2023 09:52

Think its wise to sell now its up 80% from 0.0008

[apotheki] 18/8/2023 09:50

If you are still around smcl could you please not only MODERATE but also BAN the recently formed TROLL from your thread?

[z1co] 18/8/2023 09:50

The other thread has become infested and that's why i have started a new one.

[steephill cove] 18/8/2023 09:49

GOOD QUALITY oil-bearing reservoir in the Meletta and the PBS reservoirs with porosity ranges ABOVE pre-drill expectations

The initial evaluation of the logs over the PBS indicates a 34-metre gross interval containing 28 metres of oil-bearing net reservoir, with porosities averaging 18% and up to 28%, all of which SIGNIFICANTLY EXCEED pre-drill estimates.

The target reservoirs were encountered approximately 25 metres HIGHER than prognosis and oil was seen on the shale shakers and in the mud pit whilst drilling these intervals. NO water-bearing sands were encountered in any of the target reservoirs.

[apotheki] 18/8/2023 09:47

Only ask due to the recently formed TROLL on the other threads!

[johnjames876] 18/8/2023 09:46

Are they banning rampers now too

[johnjames876] 18/8/2023 09:46

Dnt buy now

[johnjames876] 18/8/2023 09:46

Buying has stopped

[apotheki] 18/8/2023 09:46

Is this a MODERATED [and therefore potentially a BANNING] thread?

[johnjames876] 18/8/2023 09:46

No wonder the morning rampers have disappeared

[johnjames876] 18/8/2023 09:45

Placing confirmed at 0.0007

[z1co] 18/8/2023 09:45

NT for any decent size at 0.135p

[apotheki] 18/8/2023 09:44

Beacon Energy Chief Executive Officer, Larry Bottomley commented:

"The SCHB-2(2.) well has now been safely, effectively and successfully drilled and logged, a testament to the quality of the Rhein Petroleum operating team who delivered a positive outcome despite encountering certain technical challenges through the drill. The well has encountered oil bearing reservoir in the Meletta and PBS sandstones, both shallower than predicted with the PBS being a thicker interval with more sand and of better quality than pre-drill estimates. These results imply significant upside to the reserve range assigned to the Stockstadt Mitte segment in the CPR published by the Company in December 2022, and this will be the focus of one of the post-well projects.

"The electrical wireline logs demonstrate that this well has the capacity to materially increase the Company's production and revenue as the well is brought onstream through our wholly-owned and operated existing facilities. This is a very important step in the Company's aspiration to build a self-funding platform for growth.

"In addition, the data provided from the SCHB-2(2.) well will help to de-risk the 2C contingent resources of 2.4mmbbls assigned to the adjacent Schwarzbach South segment which will be targeted during the further development of the Erfelden field.

"The operations team will now focus on completing the well for production and we will update the market as appropriate".

[johnjames876] 18/8/2023 09:40

Buy in on placing like those in the know

[johnjames876] 18/8/2023 09:40

Crazy buying now

[johnjames876] 18/8/2023 09:40

Time to bail