Beacon Energy PLC Statement Regarding Recent Price Movement (5582J)
16 Agosto 2023 - 6:49PM
UK Regulatory
TIDMBCE
RNS Number : 5582J
Beacon Energy PLC
16 August 2023
16 August 2023
Beacon Energy plc
("Beacon Energy" or the "Company")
Statement Regarding Recent Price Movement
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"), notes the recent movement in
the price of the Company's shares on AIM.
The Company is currently undertaking operations on the
Schwarzbach-2(2.) ("SCHB-2(2.)") well to target hydrocarbons in the
undeveloped Stockstadt Mitte segment of the Erfelden field, with 2P
oil reserves of 3.784mmbbls assigned to this segment from the
independent Competent Person's Report ("CPR") published by the
Company in December 2022.
The SCHB-2(2.) well has reached total drill depth of 2255 metres
measured depth (1717 metres True Vertical Depth) and the Company is
currently undertaking electric wireline logging in the well. Until
the electric wireline logging programme has been completed and the
results analysed, the implications for the future cash generative
potential of the Erfelden field and the Company's aspiration to
build a self-funding platform for growth will not be known.
We look forward to updating the market in due course.
END
Enquiries:
Beacon Energy plc
L arry Bottomley (CEO) / Stewart MacDonald (CFO) +44 (0)20 7466 5000
Strand Hanson Limited (Financial and Nominated Adviser)
Rory Murphy / James Bellman +44 (0)20 7409 3494
Buchanan (Public Relations)
Ben Romney / George Pope +44 (0)20 7466 5000
Tennyson Securities Limited (Joint Broker)
Peter Krens / Ed Haig-Thomas +44 (0)20 7186 9030
Optiva Securities Limited (Joint Broker)
Christian Dennis +44 (0)20 3411 1881
For further information, please visit 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
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
SPMGPUQCRUPWGQQ
(END) Dow Jones Newswires
August 16, 2023 12:49 ET (16:49 GMT)
Grafico Azioni Beacon Energy (LSE:BCE)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Beacon Energy (LSE:BCE)
Storico
Da Giu 2023 a Giu 2024