# BYE - Byron Energy



## System (27 June 2010)

Trojan Equity Limited (TJN) is an investment company with primary investment in undervalued asset situations where there is a likely catalyst for the discount to valuation to be reduced or removed. Trojan Equity is managed by Trojan Investment Management Pty Ltd, a niche investment manager based in Brisbane.

http://www.trojanequity.com.au


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## Agentm (28 June 2010)

*Re: TJN - Trojan Equity*

trojan has a fair holding in buru..

worth watching this one as buru itself has a lot of opportunities in the canning

imho they did their level best in the gfc and have got opportunity left in their portfolio


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## majorca (28 June 2010)

*Re: TJN - Trojan Equity*

Agent, 
        Trojan had substantial holdings in ARC Energy aswell and ADI at one stage. Trojan is basically run by Troy Harry who is normally a pretty conservative investor.


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## System (1 June 2013)

On May 28th, 2013, Trojan Equity Limited (TJN) changed its name to Byron Energy Limited (BYE).


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## piggybank (18 February 2014)

*Operations Update:-*

Byron Energy Limited (“Byron or the Company”) is pleased to report that on 14 February 2014 the Bureau of Safety and Environmental Enforcement (“BSEE”) granted final approval for Byron to drill the Byron Energy SM6 #1 well (“SM6 #1”). On 15 February 2014 Byron completed installation of a seven slot caisson (266 feet in length and 72 inches in diameter) for use at SM6 #1. The caisson was set prior.....

The rest of the report can be read here:- http://stocknessmonster.com/news-item?S=BYE&E=ASX&N=782645


​


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## greggles (28 September 2017)

Byron Energy bouncing all over the place recently. Up and down like a yo-yo. Where this one heads next appears to be anyone's guess.


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## greggles (19 September 2018)

I took my eye off the ball and missed Byron Energy move from around 8.5c to a high of 45c between September 2017 and late March 2018. However, during the next five and a half months the BYE share price declined slowly to around 27c.

Today it saw a nice jump to 35.5c, up 26.79% from yesterday's close of 28c, after the company announced that Metgasco Limited has issued a notice of election to convert A$1 million of its outstanding A$4 million of Convertible Notes into Byron Energy ordinary shares.

On 25 August the company commenced drilling operations on the first test well in the Bivouac Peak Prospect Area, the Byron operated Weiss-Adler, et. al. No. 1 well in the southern Louisiana Gulf Coast. The well is being drilled to 18,000 ft True Vertical Depth and is expected to take 75 days to drill, so it is expected that it will be complete by 8 November. News should follow shortly after that.


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## greggles (5 July 2019)

Byron Energy down 17.5% to 23.5c today after the company announced that the SM74 D14 BP1 exploration well has only hit wet sand after being drilled to 14,933 feet measured depth and 13,591 feet true vertical depth. The well has been deemed uncommercial and plug and abandon operations have begun.

Disappointing news for the company and BYE shareholders.


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## barney (5 July 2019)

greggles said:


> Byron Energy down 17.5% to 23.5c today after the company announced that the SM74 D14 BP1 exploration well has only hit wet sand after being drilled to 14,933 feet measured depth and 13,591 feet true vertical depth. The well has been deemed uncommercial and plug and abandon operations have begun.
> 
> Disappointing news for the company and BYE shareholders.




Certainly been a Roller Coaster …….. I don't dabble in Oilers any more for that reason … no good for the blood pressure


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## peter2 (15 January 2021)

The recent price of trading above $50/bbl seems to have lifted the oil/gas sector. Lots more oil/gas stocks popping up in my scan results. 

*BYE* was one of them. Today's price action is a BO-HR.  I have short term aspirations only with oilers.


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## greggles (12 August 2021)

BYE has been scraping along the bottom at 10c for a couple of months now with what looks to be quite a bit of accumulation. It doesn't seem to want to go below that level. Today it has decided to head north, and is currently trading at 13.5c. 

Is the bottom in for BYE? No news since 5 August, but something is up.


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## debtfree (7 October 2021)

greggles said:


> Is the bottom in for BYE?




Since your last chart @greggles BYE has continued along nicely and has been stronger than XAO with a nice BO yesterday.


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## Telamelo (23 March 2022)

*BYE* announcement..

"Drilling Program & Current Production Update"
 
Enterprise Offshore Drilling 264 jack-up rig is on schedule for an early to mid-April commencement of drilling of the SM58 G3 and G5 wells
 
Permits for the drilling of the SM58 G3 and G5 wells are now approved by BSEE 
 
Byron is in final discussions with EOD for a January 2023 three well drilling program
 
US$11 million prepayment agreement with supermajor executed 
 
Current Byron net daily production from all wells is 1,680 barrels of oil per day & approximatley 4.7 million cubic feet of gas per day

*refer to ASX release for more information


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## Telamelo (1 April 2022)

Telamelo said:


> *BYE* announcement..
> 
> "Drilling Program & Current Production Update"
> 
> ...



Director added/bought another 50,000 shares to his 57.25M holding in trust account


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## Telamelo (5 April 2022)

Telamelo said:


> Director added/bought another 50,000 shares to his 57.25M holding in trust account



Oil up overnight +4.41%


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## Telamelo (13 April 2022)

Telamelo said:


> *BYE* announcement..
> 
> "Drilling Program & Current Production Update"
> 
> ...



Oil price shot up +7.1% overnight to US $101 so more cash flow $$ for BYE


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## Telamelo (19 April 2022)

Telamelo said:


> Oil price shot up +7.1% overnight to US $101 so more cash flow $$ for BYE



Terrific volume/momentum with BYE @ 0.17c +9.68%

Cheers tela


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## Tyre Kicker (19 April 2022)

Hey Tela

Any idea how much it is costing BYE to produce a barrel?


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## Telamelo (19 April 2022)

Tyre Kicker said:


> Hey Tela
> 
> Any idea how much it is costing BYE to produce a barrel?



Unsure @Tyre Kicker off the top of my head so I'll need to look into this detail


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## qldfrog (19 April 2022)

When you roll a dice in the morning between BYE and CVN..and put an order in CVN which promptly collapsed today😊


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## Telamelo (19 April 2022)

qldfrog said:


> When you roll a dice in the morning between BYE and CVN..and put an order in CVN which promptly collapsed today😊



Oh no @qldfrog as I reduced my position in CVN this morning (after Apus-1 drilling update) and bought more BYE instead.









						BYE Share Technical Analysis | Byron Energy Ltd
					

Current Technical Analysis and interactive chart for $BYE stock / shares. See the current trading strategy, trend(s), rating and buy and sell signals.




					asx.swingtradebot.com


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## Telamelo (23 April 2022)

BYE @ 0.175c +6.06%

I'm anticipating/expecting big news likely by 06/05/2022 imo 

*Meanwhile, Quarterly report scheduled next week









						BYE Share Technical Analysis | Byron Energy Ltd
					

Current Technical Analysis and interactive chart for $BYE stock / shares. See the current trading strategy, trend(s), rating and buy and sell signals.




					asx.swingtradebot.com


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## Telamelo (28 April 2022)

BYE Quarterly report:

NET REVENUE FOR MARCH QUARTER $14.7 MILLION VERSUS $13.4 MILLION IN DEC QUARTER
BYRON'S SHARE OF OIL PRODUCTION FOR MARCH QUARTER WAS 143,836 BARRELS OF OIL
BYRON'S SHARE OF GAS PRODUCTION FOR MARCH QUARTER WAS 509,877 MMBTU VERSUS 668,010 MMBTU IN DEC QUARTER


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## Telamelo (5 May 2022)

Telamelo said:


> BYE Quarterly report:
> 
> NET REVENUE FOR MARCH QUARTER $14.7 MILLION VERSUS $13.4 MILLION IN DEC QUARTER
> BYRON'S SHARE OF OIL PRODUCTION FOR MARCH QUARTER WAS 143,836 BARRELS OF OIL
> BYRON'S SHARE OF GAS PRODUCTION FOR MARCH QUARTER WAS 509,877 MMBTU VERSUS 668,010 MMBTU IN DEC QUARTER



Oil pumped higher overnight to US $108


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## Telamelo (6 May 2022)

*Oil* price held up well overnight by the prospect of a European Union ban on Russian crude imports. Brent crude settled +0.7% higher at US$110.90 a barrel.


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## Telamelo (13 May 2022)

Telamelo said:


> *Oil* price held up well overnight by the prospect of a European Union ban on Russian crude imports. Brent crude settled +0.7% higher at US$110.90 a barrel.



Awaiting the moment of truth due any day now (on pending oil drill results).. will be a defining moment in shaping BYE's future potential (finger's crossed).


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## Telamelo (15 May 2022)

Surely anticipating/expecting results this week ahead..

BYE chart looks primed/bullish









						BYE Share Technical Analysis | Byron Energy Ltd
					

Current Technical Analysis and interactive chart for $BYE stock / shares. See the current trading strategy, trend(s), rating and buy and sell signals.




					asx.swingtradebot.com
				




P.S. Oil price up again last Friday night to US $110 +3.8%


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## Telamelo (16 May 2022)

Release Date: 16/05/22 08:36
Summary: SM58 G3 Well Logs Hydrocarbon Pay, Production Casing Set

SM58 G3 Well Logs Hydrocarbon Pay, Production Casing Set

58 feet of True Vertical Thickness pay has been logged in the SM58 G3 well

27 feet of TVT pay in the primary J Sand

31 feet of TVT pay in the secondary K4/B65 Sand

Production casing has been run & cemented in place to total depth

The EOD 264 rig will now skid to the SM58 G5 well & drill to total depth prior toc ommencement of completion operations

G3 first production is expected in July 2022 after the drilling of the G5 well

Byron is revising a previously announced rig contract to become a 3 well
program with an optional 4th well commencing in late 2022 or early 2023

Byron's CEO Maynard Smith said:

"I am very pleased with the results of the G3 well and the overall efficiency of our drilling operations to date. 

This drilling success is an example of utilizing Byron’s cash flow to maximize production at a time of high oil and gas prices. 

The operational efficiencies are a result of good planning by our Lafayette based team in conjunction with our long-term contract drilling engineers. 

I look forward to the results of the G5 and getting both wells into production.

We are also pleased to secure the EDO 264 for an additional well early next year at a time of limited drilling rig inventory and probable high commodity prices.”


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## Telamelo (17 May 2022)

BYE line wipe @ 0.18c +9.09%


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## Telamelo (17 May 2022)

Spoke to soon.. BYE now @ 0.185c +12.12%


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## Telamelo (17 May 2022)

Made a fresh 52 week high today! & oil price almost US $116 as we speak.. Gas up +4.2% & Byron producing that too 
------------
Is Byron Energy (BYE) stock's recent performance being led by it's attractive financial prospects?









						Is Byron Energy Limited's (ASX:BYE) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
					

Byron Energy (ASX:BYE) has had a great run on the share market with its stock up by a significant 19% over the last...




					finance.yahoo.com


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## Telamelo (19 May 2022)

We should receive potential exciting news about G5 drilling within the next 6-9 day's imo can't wait

*Recent drilling success has roughly added US $100K per day "extra cash flow" earned!

Cheers tela


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## Telamelo (25 May 2022)

Telamelo said:


> We should receive potential exciting news about G5 drilling within the next 6-9 day's imo can't wait
> 
> *Recent drilling success has roughly added US $100K per day "extra cash flow" earned!
> 
> Cheers tela



BYE resumed it's "next leg up" so to speak @ 0.18c +12.5%
(past 6 month bullish uptrend looks good to continue as believe we'll see 0.20c+ soon imo)

P.S. G5 appraisal well results due later this week/early next week..


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## Telamelo (26 May 2022)

SM58 G5 Well Logs Hydrocarbon Pay and Preparing to Run Casing
• 81 feet of True Vertical Thickness pay has been logged in the SM58 G5 well
o 11 feet of TVT pay in the secondary I2 Sand
o 23 feet of TVT pay in the secondary K4/B65 Sand
o 47 feet of TVT pay in the secondary L2 Sand
• The primary N2 Sand has not been reached yet
• Following a failure of the transmission for the rig’s top drive, current operations are 
preparing to run 7” casing to preserve the pay sands for completion
• Drilling operations to evaluate the N2 Sand will begin once casing is run and rig 
repairs are complete - 600 feet of drilling remain to reach total depth
• First production from the G3 and G5 wells is expected in July 2022
Byron Energy Limited (Byron or the Company) (ASX: BYE) is pleased to provide the following update 
on the Company’s 100% owned and operated South Marsh Island 58 G3 (G3) and South Marsh Island 
58 G5 (G5) drilling program at its South Marsh Island 58 G Platform.
SM58 G5 Results to Date
The Enterprise Offshore Drilling (EOD) 264 jack-up rig arrived at Byron’s 100% owned South Marsh 
Island 58 G Platform at 0830 hours on 18 April 2022 (USCDT) to drill the G3 and G5 wells. Byron is 
batch drilling these wells to increase efficiency and cost savings. Since arriving on location, the G3 
well was drilled to total depth on 13 May2022 and production casing was run across the productive J 
and K4 sands. 
As of 1800 hours on 24 May 22 (USCDT), the G5 has been drilled to a depth of 9,650 feet Measured 
Depth (MD)/7,672 feet True Vertical Depth (TVD). At that depth, during a planned, routine hole 
cleaning operation, the top drive transmission on the EOD 264 suffered a complete failure. Because 
the drill pipe cannot be rotated without a top drive, the drill string and Log While Drilling (LWD) tools 
have been pulled to surface and the decision to run 7” production casing has been made to preserve 
the hydrocarbon sands logged to date. Currently, operations are focussed on running and cementing 
casing before the top drive is replaced which can take 3 - 4 days. Once the top drive has been replaced, 
Byron will drill ahead to test the primary N2 Sand. The G5 is expected to reach a final total depth of 
10,240 feet MD/ 8,196 feet TVD.
The G5 well, drilling the Smoked Trout prospect, has penetrated two of the three pre-drill objectives 
and logged hydrocarbon (most likely oil based on mudlog and LWD responses) in one of those
objectives, the K4 Sand. Another secondary target, the J Sand, was found to be pinched-out with no 
sand in the G5 well. However, hydrocarbons were logged in two other sands, the I2 Sand (most likely 
gas), and more importantly, the L2 Sand (most likely oil).

The secondary K4 Sand logged 23 feet TVT net pay. Pre-drill gross 1P reserves of 275,000 barrels of 
oil (mbo) (net 230 mmbo) were provided by Byron’s third-party reserve estimator, Collarini Associates 
(Collarini) as disclosed in the ASX release of 1 February 2022 for the K4 Sand. Collarini predicted 30
feet TVT net pay at the G5 location as a basis for these reserves. The G5 logged very clean K4 sand 
which is connected to oil downdip as an attic accumulation to previous K4 Sand production. K4 Sand 
production rates are estimated to fall in the range of 400 to 500 barrels of oil per day (bopd) depending 
on reservoir drawdown across the perforations. Long term stability of the initial rate will depend on 
the ultimate strength of the aquifer support. The Company will complete the K4 Sand after producing 
the downhole L2 and N2 sands using modern frac pack sand control techniques. 
The G5 also logged 47 feet TVT hydrocarbon (most likely oil) in the L2 Sand. Correlation of this sand 
with older wells and Byron’s 3D seismic data indicates the L2 Sand in the G5 is part of the Steelhead 
South prospect. As previously mapped, the L2 Sand was not expected to be well developed in the G5, 
but in fact, the L2 Sand is a clean, high-quality sand. The G5 L2 Sand penetration is part of a large 
accumulation of oil that is further proved by two other wells down-dip, but never produced.
Collarini ascribed 291 mbo to the L2 Sand in the Steelhead South prospect and used 15 feet TVT of oil 
at that location for that assessment. This result in the G5 has substantially increased both the area 
and volume of the Steelhead South L2 Sand prospect and is a very positive outcome in the G5 well. 
The oil logged in the L2 Sand was the driving factor in deciding to run casing prior to replacing the top 
drive. Historical production rates from the L2 Sand in the area range from 700 to 1000 bopd, 
depending on reservoir drawdown across the perforations. Long term stability of the initial rate will 
depend on the ultimate strength of the aquifer support. The Company will complete the L2 Sand using 
modern frac pack sand control techniques. 
The thin pay in the I2 Sand will be a future through tubing completion in the G5 well. The I2 Sand is 
expected to be a modest gas producer many years in the future and lies updip to old I2 Sand 
production.
The G3 and G5 well results will be reflected in the Company’s June 30, 2022, reserves report, expected 
to be released in late August/early September 2022.
To put the results of the G5 thus far in the regional context of the South Marsh Island 73 Field area, it 
is interesting to look at historical averages for both the K4 and L2 Sands. The K4/B65 sand has 
produced 12.3 mmbo from 19 wells in the field with an average TVT of 34 feet. The average K4/B65 
Sand completion has produced 647 mbo with a range of 152 mbo to 1,700 mbo. The L2 Sand (also 
called the C10 Sand) has produced a total of 4.5 mmbo from 17 wells in the field with an average TVT 
net pay of 25 feet. The average L2 Sand completion has produced 267 mbo with a range of 17 mbo to 
689 mbo. 
The presence of the L2 Sand in the G5 well could lead to an acceleration well if the primary N2 Sand 
is present as expected. Production from the N2 Sand would push the uphole recompletion of the L2 
Sand out several years and with current commodity prices, it may make economic sense to bring the 
L2 Sand production forward.

Go-Forward Plans
Once casing has been run and cemented, EOD will completely replace the top drive, an operation that 
may take 3 or 4 days. During that time, Byron will prepare to drill out of casing and evaluate the 
primary objective of the Smoked Trout prospect, the N2 Sand. Only 600 feet of drilling remains to 
reach total depth. If successful, a 5” liner will be run to total depth to allow production from the N2 
Sand if it is hydrocarbon bearing.

Concurrently, Byron’s completion engineers are finishing up completion designs for the G3 and the G5 
wells. Completion operations will begin as soon as the G5 drilling operations are over. First production 
from both wells is expected in July 2022 after some topside work is finished on the SM58 platform and 
the wells are tied into the production system. 
Further operational updates will be provided as the project progresses.
SM71 F4 and F2 Recompletion
Byron has been informed by the owner of the lift boat needed to recomplete the South Marsh Island 
Block 71 F4 and F2 wells that the liftboat has been delayed until late June due to an expanded program 
by the current operator. Further details on the SM71 F2 and F4 recompletions can be found in the 
Company’s March Quarterly Activities and Cashflow Report, released to the ASX on 28 April 2022.
Byron's CEO Maynard Smith said:
"The presence of the L2 Sand in the G5 well is very good news. Steelhead South was one of our top oil 
prospects and while we hoped the L2 might be present in the G5, we did not expect the quality and 
thickness of the L2 oil that was logged. Additionally, the K4 Sand is better developed in the G5 than 
anticipated and will provide a straw into the downdip K4 Sand accumulation in the future.
The top drive failure was very disappointing as the EOD 264 had been performing well. We have had 
virtually no downtime caused by the rig during this program and to be so close to total depth and have 
this happen is frustrating. But running casing here preserves the L2 and K4 Sands and allows us to 
reach the N2 Sand with only a modest increase in cost. Our engineering team and vendors have done 
a tremendous job adjusting the program to get ready to run the casing.
The current two well program at SM58 can already be considered a success and we look forward to 
the increased cashflow to Byron once these wells are on line in July.”


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## Telamelo (26 May 2022)

Telamelo said:


> SM58 G5 Well Logs Hydrocarbon Pay and Preparing to Run Casing
> • 81 feet of True Vertical Thickness pay has been logged in the SM58 G5 well
> o 11 feet of TVT pay in the secondary I2 Sand
> o 23 feet of TVT pay in the secondary K4/B65 Sand
> ...



BYE @ 0.19c +11.76% on 3.4M+ volume traded already!

Seems that my 0.20c-0.25c range price target definitely likely in the foreseeable future as July only 5 week's away!


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## Telamelo (26 May 2022)

*BYE closed up +8.82% on 6.39 times normal volume.

The bulls were able to push it to a new 52-week high!*

*Our system’s recommendation today is to STAY LONG.



			http://asx.swingtradebot.com/equities/BYE:ASX


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## Telamelo (30 May 2022)

Need BYE to do a few big line wipes by tomorrow lol to have a chance of sneaking into 3rd in May tipping comp. Grapevine rumour is big news due by tomorrow so am told... 

P.S. Not complaining as am up +40% from my entry a couple of month's ago


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