AIM reversal: Beacon Energy

Shares in Beacon Energy were readmitted following the acquisition of Rhein Petroleum. This brings with it a producing oilfield with potential production of up to 4,000 barrels of oil per day in the coming years.

A drilling rig has been contracted for the onshore Schwarzbach-2 well and it should mobilise in June. Drilling should take 25 days to reach a depth of 2,255 metres and then there will be 12 days of testing. A tie-in to existing production facilities would take 12 days. The cash raise...

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