Beacon Energy announces an update on the Schwarzbach-2(2.) well. The well has encountered good quality oil-bearing reservoirs in the Meletta-Schichten ("Meletta") sandstones and the Pechelbronner-Schichten ("PBS") sandstones within the Stockstadt Mitte segment of the Erfelden field. The electric wireline logging program shows good quality oil-bearing reservoirs with porosity ranges above pre-drill expectations. The logs indicate a 34-meter gross interval containing 28 meters of oil-bearing net reservoir, with porosities averaging 18% and up to 28%, exceeding pre-drill estimates. No water-bearing sands were encountered. The thicker oil-bearing net reservoir and higher range of porosities have positive implications for reserves and future cash generation. The well will undergo reservoir clean-up, production testing, and installation of the production liner to bring it into production. The Company expects to provide a further update on progress after the clean-up operation and production testing.