REG - Beacon Energy PLC - Erfelden Operational Update

Beacon EnergyAnnouncement

16/04/2024 07:00

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RNS Number : 7079K  Beacon Energy PLC  16 April 2024

16 April 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 that mobilisation of the drilling rig for
the SCHB2 side track, which had originally been scheduled for mid-April, has
been delayed by approximately two weeks.

The rig is currently contracted to a third-party operator for well operations
located approximately 50km from the Erfelden site.

The Company has received notification from the rig contractor that due to
extended ongoing operations encountered by the current operator, release of
the rig is now expected at the end of April 2024.

The Company will provide a further update once mobilisation of the rig has
commenced. Side track operations are expected to commence around seven days
after mobilisation. The side track operation itself is expected to take
approximately 14 days.

Larry Bottomley, CEO of the Company, said:

"Beacon Energy is obviously unable to control third-party delays of this kind
however it is minor slippage to our previously guided timeline. We continue to
prepare the site for the arrival of the rig so that the side track activities
can commence as soon as possible. We look forward to the commencement of the
side track as we seek to realise the full potential of the SCHB2 well and will
provide further updates on mobilisation as required."

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

To register for Beacon Energy's email alerts, please complete the following
form:  https://www.beaconenergyplc.com/media-centre/news/#alerts
(https://www.beaconenergyplc.com/media-centre/news/#alerts)

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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