REG - Beacon Energy PLC - Update regarding LNEnergy

Beacon EnergyAnnouncement

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RNS Number : 2845A  Beacon Energy PLC  14 April 2026

14 April 2026

Beacon Energy plc

("Beacon Energy" or the "Company")

Update regarding LNEnergy Limited ("LNEnergy")

Representation on LNEnergy Board

 

Beacon Energy (AIM:BCE) announces that, following the completion of its
strategic investment in LNEnergy in March 2026, Stewart MacDonald, Beacon's
CEO, will join the board of directors of LNEnergy.

The Company also confirms that LNE IOM Limited, in which the Company holds a
49 per cent shareholding, has acquired additional shares in LNEnergy through a
rights offering conducted by LNEnergy to raise up to £780,000.

Given the full participation of other LNEnergy shareholders in the rights
offering, LNE IOM Limited's shareholding in LNEnergy remains approximately 48
per cent. Under the terms of the transaction agreed with Reabold (as announced
on 7 October 2025 and as set out in the Admission Document of 17 February
2026), Beacon's shareholding in LNE IOM Limited will increase to 100 per cent
following the satisfaction of certain conditions, including the award of the
Production Concession, expected mid 2026 (the "Second Acquisition" as defined
in the Admission Document).

LNEnergy will use the proceeds of the rights offering to progress the Colle
Santo project and satisfy working capital. LNEnergy is advancing preparations
to undertake well integrity tests on the two existing Colle Santo wells which
is expected to commence in May 2026. It is also anticipated that LNEnergy will
complete FEED on the Colle Santo project during Q2 2026.

 

In addition, in light of recent commodity price volatility, the Company has
published an updated corporate presentation on its website which includes free
cash flow projections at a range of European gas prices, prepared by RPS
Energy Limited.

The Colle Santo project provides investors with significant exposure to
European gas prices. Based on Beacon's 42.3% indirect economic interest in the
project (assuming the Second Acquisition is completed), RPS Energy Limited
calculate an NPV10 of €37.6m (at €40/MWh) and €52.9m (at €50/MWh),
compared with €26.6m as outlined in the CPR dated December 2025, which used
a price of ~€30/MWh. These figures highlight the value that could be
unlocked as we progress towards production.

Stewart MacDonald, Chief Executive Officer of Beacon Energy, commented:

"Joining the board of LNEnergy marks an important step as we move towards a
Final Investment Decision later this year, and I look forward to working
closely with the LNEnergy team to deliver the Colle Santo project.

The strong take up in the rights offering by the other LNEnergy shareholders
demonstrates their confidence in the Colle Santo project and ensures we are
well funded for the next phase of activity.

With well integrity tests commencing in May and FEED completion targeted for
Q2 2026, we have a clear and active pipeline of milestones ahead, and we look
forward to keeping shareholders updated on our progress."

 Beacon Energy plc                                          +44 (0)20 7466 5000 (via Burson Buchanan)

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

 Rory Murphy / James Bellman / Edward Foulkes
 Burson Buchanan (Financial PR)                             +44 (0)20 7466 5000

 Barry Archer / George Pope
 Tennyson Securities Limited (Broker)                       +44 (0)20 7186 9

 Peter Krens

Enquiries:

 

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

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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