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
Larry
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 / Barry Archer / George
Pope
|
+44 (0)20
7466 5000
|
|
|
|
|
Tennyson Securities Limited (Broker)
Peter Krens / Ed
Haig-Thomas
|
+44 (0)20
7186 9030
|
|
|
|
|
|
|
|
|
|
|
|
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.