Business
Statement Regarding Recent Price Movement
Statement Regarding Recent Price Movement.
About this update from Beacon Energy Plc
[{"type":"text","content":"\n\n16 August 2023\nBeacon Energy plc\n(\"Beacon Energy\" or the \"Company\")\nStatement Regarding Recent Price Movement\nBeacon 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.\nThe 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.\nThe 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.\n We look forward to updating the market in due course.\nEND\n \nEnquiries:\n\n\n\nBeacon Energy plc\nLarry Bottomley (CEO) / Stewart MacDonald (CFO)\n\n\n+44 (0)20 7466 5000\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-Thomas\n\n\n+44 (0)20 7186 9030\n\n\n\n\n \n\n\n\n\n\n\n\nOptiva Securities Limited (Joint Broker)\nChristian Dennis\n\n\n+44 (0)20 3411 1881\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFor further information, please visit www.beaconenergyplc.com and @BeaconEnergyPlc on Twitter\nTo register for Beacon Energy's email alerts, please complete the following form: https://www.beaconenergyplc.com/media-centre/news/#alerts\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under...