16th Aug 2023 22:22
Beacon Energy PLC - Germany-focused upstream oil & gas company – Notes sharp share price on Wednesday and reports that is undertaking operations on the Schwarzbach-2(2.) well. Beacon is targeting hydrocarbons in undeveloped Stockstadt Mitte segment of Erfelden field. Beacon adds: "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."
Current stock price: 0.11 pence, up 25% on Wednesday
12-month change: up 21%
By Eric Cunha, Alliance News news editor
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