Beacon Energy PLC
LLSE:BCE2.35
GBX
+0.00
(-0.21%)
Beacon Energy PLC
LSE:BCE
(London Stock Exchange)
Recent
price
2.35
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Semi-annual Revenue
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in mil. unless spec.Semi-annual Earnings Per Share
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in mil. unless spec.Semi-annual Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- Beacon Energy plc (BCE.L) is an Isle of Man-based upstream oil and gas exploration and production company focused on growth through acquisition or farm-in to non-operated interests in discovered projects, primarily targeting onshore assets in Europe. Headquartered at 55 Athol Street, Douglas, IM1 1LA, the company, formerly known as Advance Energy plc until its name change in November 2022, holds a portfolio of production, development, appraisal, and exploration assets onshore in Germany through its beneficial interest in Rhein Petroleum Assets; these include core licences across Steig, Erfelden, Graben, and Lauben with 2P net reserves of 3.85 million barrels of oil and 2C net contingent resources of 22.96 million barrels, supported by near-term development such as the SCHB-2 well at Erfelden alongside existing production generating immediate revenue. The company operates with a workforce of four and emphasizes high-margin, low-to-medium risk opportunities in a region offering substantial growth potential via low-cost exploration and appraisal targets. In a transformative reverse takeover announced in late 2024, Beacon Energy executed a share purchase agreement to acquire the entire issued and to be issued share capital of Rhein Petroleum from Tulip Oil Netherlands B.V. and Deutsche Rohstoff AG, issuing 3.49 billion consideration shares representing 33.2% of the enlarged share capital alongside contingent earn-out payments tied to net production proceeds; the deal, conditional on shareholder approval at an extraordinary general meeting and German licence extensions, includes a concurrent fundraise of 5.49 billion new shares at 0.1 pence each raising gross proceeds of GBP5.75 million to fund the SCHB-2 development well, working capital, and operations, with net proceeds estimated at GBP5.7 million. Tulip, post-transaction, holds approximately 40.5% of the company under lock-in and relationship agreements, while proposed board changes incorporate experienced executives with regional expertise; prior to this, Beacon announced a strategic investment to acquire a 49% stake in LNEnergy Limited for an indirect interest in European onshore gas assets.