Last checked at 7 Aug 2023 07:00
7 August 2023
Beacon Energy plc
("Beacon Energy" or the "Company")
Schwarzbach-2(2.) Well Update
Beacon Energy (AIM:BCE), the full-cycle oil and gas company with a portfolio of production, development, appraisal and exploration onshore German assets through its wholly-owned subsidiary, Rhein Petroleum GmbH ("Rhein Petroleum"), announces an update on the Schwarzbach-2(2.) drilling operations.
Drilling is currently underway in the deviated mechanical sidetrack. The well is on track to achieve the primary objectives of testing the reservoir targets and completing this well as a producer as part of the development of the Stockstadt Mitte segment of the Erfelden field.
The Company expects to reach TD in the coming days and will provide a further update on progress of the SCHB-2(2.) well as appropriate.
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Enquiries:
Beacon Energy plc Larry Bottomley (CEO) / Stewart MacDonald (CFO) | +44 (0)20 7466 5000 | ||
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Strand Hanson Limited (Financial and Nominated Adviser) Rory Murphy / James Bellman | +44 (0)20 7409 3494 | ||
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Buchanan (Public Relations) Ben Romney / Barry Archer / George Pope energy@buchanan.uk.com
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Tennyson Securities Limited (Joint Broker) Peter Krens / Ed Haig-Thomas | +44 (0)20 7186 9030 | ||
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Optiva Securities Limited (Joint Broker) Christian Dennis | +44 (0)20 3411 1881 | ||
For further information, please visit www.beaconenergyplc.com and @BeaconEnergyPlc on Twitter
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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.