RE:RE:RE:RE:big sell orderchu chua is worth all of ZERO!
what they have is three oil producing horizons, so many sites across the lands... the operator has only drilled maybe 10 horizontals and I bet there are hundreds of sites. they built this production on verticals and horizontals will flow much better and what is not commercial with vertical drills will be with horizontal drills. I am pretty encouraged when they keep announcing new wells that flow 1500 bopd! those are friggin monster wells. Hell there was a clown here called petroexplorer that suggested Bauer was all they really had and how that field was winding down... obvioulsy a doubter and not too bright... he was wrong and left this board...LOL don't care what you think cause you don't know... actually Beach has no obligation to tell even NWX about the wells or plans etc.,. but when you see updates and they are always very positive... well... that is what I like to see. They have over $8 mill in cash.... and another $1.5mill coming in every qtr.... ex cash that is about 22 cents a share and for that 22 cents you are seeing over $6 mill after tax coming in... some cheap... these are special divies, so they can not pay... but they have paid every year... and they did mention they might go a qtrly dividend when they get a handle on the maturity and flows of the fields... these two execs running the company seem to like getting cash each year.. I like it too... oh yes those fields are all on pel91 subject to the GOR you also miss the gas potential... Santos is involved and they are a biggie in OZ and own the LNG plant in OZ... gas prices there are decent.. early days in gas exploration on their lands but so far they have grown it pretty steadily and have expanded the processing plant and the plant is at max thru put so maybe they expand the plant again... natgas is decent there.. it is another cash flow source going forward.