Beacon Energy PLC Erfelden Operational Update
April 16 2024 - 1:00AM
RNS Regulatory News
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
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.
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