REG - Beacon Energy PLC - Erfelden Operational Update

Beacon EnergyAnnouncement

12/02/2024 07:00

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RNS Number : 7299C  Beacon Energy PLC  12 February 2024

12 February 2024

Beacon Energy plc

("Beacon Energy" or the "Company")

Erfelden Operational Update

Beacon Energy (AIM:BCE), the full-cycle oil and gas company with a portfolio
of onshore German assets through its wholly-owned subsidiary, Rhein Petroleum
GmbH ("Rhein Petroleum"), announces an operational update on the
Schwarzbach-2(2.) ("SCHB-2(2.)") well in the Erfelden field.

Further to the Company's announcement of 29 January 2024, the sand jetting
operations with a coiled tubing unit has now been completed and the Company
expects to recommence production in the coming days following reinstallation
of the rod pump.

The impact of the sand jetting will only be known once production has been
restored and a stabilised and sustained flowrate from the rod pump has been
achieved, at which time the company will provide an update. Once the well has
been fully cleaned up following the sand jetting operations, which is
anticipated to take several weeks, it is expected that the rod pump will be
replaced with an Electrical Submersible Pump ("ESP") to maximise production -
this is currently scheduled to take place in April 2024.

Beacon Energy Chief Executive Officer, Larry Bottomley commented:

"We are pleased to have safely completed the sand jetting operations to
stimulate the well and are now working to recommence production in the coming
days with the rod pump."

 

"We remain fully focused on establishing optimal production from the
SCHB-2(2.) well as quickly as possible following this well stimulation
operation and ultimately the installation of the ESP."

 

"We look forward to the results of this operation and providing an update to
shareholders in due course."

 

END

Enquiries:

 Beacon Energy plc                                        +44 (0)20 7466 5000

 Larry Bottomley (CEO) / Stewart MacDonald (CFO)

 Strand Hanson Limited (Financial and Nominated Adviser)  +44 (0)20 7409 3494

 Rory Murphy / James Bellman

 Buchanan (Public Relations)                              +44 (0)20 7466 5000

 Ben Romney / Barry Archer / George Pope

 Tennyson Securities Limited (Broker)                     +44 (0)20 7186 9030

 Peter Krens / Ed Haig-Thomas

For further information, please visit  www.beaconenergyplc.com
(http://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.

 

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