Erfelden Operational Update

Beacon Energy PLC

12 February 2024

 

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."

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Enquiries:

Beacon Energy plc Larry Bottomley (CEO) / Stewart MacDonald (CFO)	[phone]
Strand Hanson Limited (Financial and Nominated Adviser) Rory Murphy / James Bellman	[phone]
Buchanan (Public Relations) Ben Romney / Barry Archer / George Pope	[phone]
Tennyson Securities Limited (Broker) Peter Krens / Ed Haig-Thomas	[phone]

For further information, please visit  www.beaconenergyplc.com  and @BeaconEnergyPlc on Twitter

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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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