Business
Arrival of Drilling Rig & Site Visit
Arrival of Drilling Rig & Site Visit.
About this update from Beacon Energy Plc
[{"type":"text","content":"\n\n13 June 2023\nBeacon Energy plc\n(\"Beacon Energy\" or the \"Company\")\nArrival of Schwarzbach-2 Development Well Drilling Rig & Site Visit\nBeacon Energy (AIM:BCE) is pleased to announce the arrival of the E202 drilling rig to the Schwarzbach Production Facility for the planned Schwarzbach-2 (\"SCHB-2\") development well within the Erfelden Field, onshore South West Germany. This rig is fully crewed and has been contracted from RED Drilling & Services GmbH .\nThe Company also announces that it will host an analyst site visit on Wednesday 21 June 2023. The visit will involve a tour of the Schwarzbach facility which is owned and operated by Rhein Petroleum GmbH, the Company's wholly owned subsidiary, as well as an overview of the SCHB-2 development well which is located on an adjacent drilling pad and is expected to be drilling ahead at this time. No inside information will be provided at the site visit.\nLarry Bottomley, Chief Executive Officer of Beacon Energy, commented:\n\"We are pleased to report that preparations for this highly important well are on track meaning we are well placed to spud on or around the 19 June 2023. In the success case, this well has the potential to be truly transformative for Beacon as we seek to deliver a step-change in our production and cash flow. The proximity to the Schwarzbach facility means increased volumes can be tied-back to these existing production facilities enabling immediate benefits to our investment proposition and financial capabilities as we seek to establish a self-funding business model.\n \n\"We are also looking forward to hosting an analyst site visit later this month during which we will provide a more detailed overview of Beacon's operations to this important market audience.\"\n \n \nEnquiries:\n\n\n\nBeacon Energy plc\nLarry Bottomley (CEO) / Stewart MacDonald (CFO)\n\n\n+44 (0)1624 681 250\n\n\n\n\n \n\n\n\n\nStrand Hanson Limited (Financial and Nominated Adviser)\nRory Murphy / James Bellman\n\n\n+44 (0)20 7409 3494\n\n\n\n\n \n\n\n\n\n\n\n\nBuchanan (Public Relations)\nBen Romney / George Pope \n\n\n+44 (0)20 7466 5000\n\n\n\n\n \n\n\n \n\n\n\n\nTennyson Securities Limited (Joint Broker)\nPeter Krens / Ed Haig-...