Beacon Energy plc expects its German subsidiary Rhein Petroleum GmbH, with debts of €7.5 million, will be sold following a 20% drop in production. CAPITAL The company said it was looking to other areas in Europe as well as Africa and the Far East for new opportunities which it has been assessing for the past […]
Tag: Schwarzbach licence – Hessen
Beacon trims board as part of cost cutting
Beacon Energy plc has trimmed its board and plans to reduce operating costs following lower than expected oil flow from the Schwarzbach-2 sidetrack well in the Erfelden field, Hessen. CREDITORS The departure of NEDs Larry Bottomley, previously CEO, and Stephen Whyte leaves non-executive chairman Mark Rollins, CEO Stewart MacDonald, independent NED Ross Warner and NED […]
Union Jack invests in Beacon Energy
Union Jack Oil plc has purchased its first international interest with a 3.22% stake in onshore Germany-focused oil and gas company Beacon Energy plc. SYNERGY The purchase is equivalent to 439 million shares in the production, development, appraisal and exploration company through its wholly owned subsidiary, Rhein Petroleum GmbH. Union Jack’s acquisition was part of […]