Beacon Energy plc, a full-cycle oil and gas company with onshore German assets, has successfully completed an oversubscribed fundraise to raise approximately £4.3 million. The fundraise was conducted through a placing with new and existing institutional investors and a PrimaryBid offer. The company issued 2,667,000,000 placing shares and 200,000,000 PrimaryBid shares at the issue price. The fundraise will provide additional working capital to support bringing the SCHB-2(2.) well into commercial production. The CEO of Beacon Energy, Larry Bottomley, expressed delight at the strong support received from investors and the oversubscription of the fundraise. The company plans to provide further updates on its operational progress in due course. The admission of the fundraise shares to trading on AIM is subject to approval and is expected to occur on or around September 20, 2023. After admission, the company will have 13,374,679,620 ordinary shares in issue. The fundraise shares will represent approximately 21.4% of the company's enlarged share capital.