Beacon Energy, the full-cycle oil and gas company with a portfolio of onshore German assets through its wholly-owned subsidiary, 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."

KeyFacts Energy: Rhein Petroleum Germany country profile   l   KeyFacts Energy Industry Directory: Beacon Energy