(Alliance News) - Beacon Energy PLC on Tuesday said it has delayed mobilising the drilling rig for the SCHB2 side track by around two weeks, after it had originally been scheduled for mid-April.

The oil and gas company said the rig is currently contracted to a third-party operator for well operations located around 50 kilometres from the Erfelden site in Germany.

Due to extended ongoing operations encountered by the current operator, Beacon Energy said it was notified by the rig contractor that the release of the rig is now expected at the end of this month.

Beacon Energy said it will provide a further update once mobilisation of the rig has begun, with side track operations expected to begin around seven days after mobilisation.

The side track operation itself is expected to take around 14 days, Beacon Energy said.

"Beacon Energy is obviously unable to control third-party delays of this kind however it is minor slippage to our previously guided timeline. We continue to prepare the site for the arrival of the rig so that the side track activities can commence as soon as possible," said Chief Executive Officer Larry Bottomley.

"We look forward to the commencement of the side track as we seek to realise the full potential of the SCHB2 well and will provide further updates on mobilisation as required."

Shares in Beacon Energy were down 1.9% to 0.052 pence each in London on Tuesday morning.

By Greg Rosenvinge, Alliance News senior reporter

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