REG - Beacon Energy PLC - Acquisition, Fundraise & Trading Recommencement

Reabold ResourcesAnnouncement

06/03/2026 08:15

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RNS Number : 5812V  Beacon Energy PLC  06 March 2026

6 March 2026

Beacon Energy plc

("Beacon Energy" or the "Company")

Completion of Acquisition of a significant interest in LNEnergy

Completion of Fundraise

and

Re-admission to AIM and re-commencement of trading

 

Beacon Energy (AIM:BCE) is pleased to announce the completion of the proposed
acquisition of a significant strategic investment in LNEnergy Limited
("LNEnergy") and the Company's re-admission to trading on AIM, with the
re-commencement of dealings in its Ordinary Shares expected to take place at
8:00 a.m. today, 6 March 2026 ("Admission").

At Admission, Beacon Energy will complete the acquisition of an indirect
interest of approximately 24 per cent in LNEnergy. Subject to the award of the
Production Concession for the Colle Santo Asset (by LNEnergy Srl, a 100 per
cent owned subsidiary of LNEnergy), Beacon Energy will acquire a further
indirect interest of approximately 24 per cent in LNEnergy, taking the
Company's indirect interest to approximately 48 per cent in LNEnergy
(equivalent to a 43.2 per cent indirect interest in the Colle Santo Asset).
Reabold Resources plc, through its shareholding in Beacon Energy plc, will
remain the largest ultimate beneficial owner of the Colle Santo Asset.

The Admission Document was published on 17 February 2026 and is available on
the Company's website https://beaconenergyplc.com/
(https://beaconenergyplc.com/)

Highlights of the Acquisition:

●       Material European gas asset: The Proposed Acquisition
provides Beacon with an indirect interest in the Colle Santo Asset, a
material, substantially de-risked development ready onshore gas field. The
Colle Santo gas field, located in the Abruzzo region of central Italy, is one
of the largest onshore proven undeveloped gas accumulations in mainland
Western Europe, with gross Proved plus Probable (2P) reserves of 73.3 Bscf as
independently estimated by RPS (October 2025).

●       Clear and well-advanced development pathway: The Proposed
Acquisition provides exposure to a high-margin small-scale LNG project
("Project") operated by LNEnergy Srl, which holds the Colle Santo Asset. In
January 2026, the Project received a positive Environmental Impact Assessment
from the Italian Ministry of the Environment and Energy Security ("MASE") - a
critical milestone on the path to securing the Production Concession. The
Project benefits from substantial sunk capital, including two wells that have
already been drilled and completed, eliminating the need for any additional
drilling to reach first gas. A near-term work programme has been submitted to
MASE for approval, with the objective of reaching Final Investment Decision
("FID") in mid-2026.

●    Attractive economics: The Board considers the Colle Santo Asset to
be commercially and economically attractive. On a 100 per cent. working
interest basis, RPS calculated a post-tax NPV(10) for the Proved plus Probable
(2P) reserves of €61.7 million and on a 43.2 per cent. economic interest
basis (which assumes the Second Acquisition has occurred), a post-tax NPV(10)
of €26.6 million. The Colle Santo development is expected to deliver
substantial and sustained cash flows. RPS estimates post-tax pre-financing
free cash flow of approximately €10 million per annum by 2028.

●      Experienced development team and operating partners: LNEnergy
and its major contractor, Italfluid, bring a proven track record of
development and production operations coupled with a strong HSE record and a
firm commitment to environmentally responsible hydrocarbon production

 

Offtake and financing arrangements

In addition, the Company is pleased to announce that LNEnergy Srl has entered
into an offtake and financing arrangement with a leading Italian based
wholesaler and distributer of energy products (the "Offtake Agreement").

Under the terms of the Offtake Agreement, LNEnergy Srl has secured additional
capital to be used to fund project costs, including well service and well
integrity test, prior to FID.

 

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

"Completion of our strategic investment in LNEnergy marks a transformative
step for Beacon, providing the Company exposure to a material European gas
development with proven reserves, a clear pathway to production and a strong
pipeline of value catalysts over the next 18 months.

The Board considers the Colle Santo Asset to be commercially and economically
attractive. On a 100 per cent working interest basis, RPS calculated a
post-tax NPV(10) for the Proved plus Probable (2P) reserves of €61.7 million
and based on a 48 per cent shareholding in LNEnergy (43.2 per cent economic
interest basis), a post-tax NPV(10) of €26.6 million.

The signing of the offtake and financing agreement further validates the
quality of the Colle Santo project and its interest to industry investors.

We look forward to updating Shareholders and the market as we progress the
Colle Santo project over the coming months."

Enquiries:

 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

 

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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