Beacon Energy plc has announced its interim results for the six months ended 30 June 2023. The company has made progress in delivering its strategy to acquire value-enhancing opportunities and grow a self-funding upstream oil and gas company. The drilling of the SCHB2(2.) well has indicated the potential for substantial reserve and production upside for the Stockstadt Mitte segment. The company's priority now is establishing flowrates through clean-up of the wellbore and eventual installation of an Electrical Submersible Pump. The well has the potential to deliver around 900 bopd net production to Beacon, generating operating cash flows in excess of $1.5 million per month. The company completed the acquisition of Rhein Petroleum GmbH in April 2023, which was a transformational, value-enhancing transaction for shareholders. The SCHB-2(2.) well encountered an excellent 34-meter gross interval containing 28 meters of oil-bearing net reservoirs in the Stockstadt Mitte segment of the Erfelden field. These reservoirs were higher and thicker than expected, with no water-bearing sands in the hydrocarbon column. This is likely to result in a material upgrade to recoverable reserves in Stockstadt Mitte and a de-risking of 2.4 million barrels of contingent resources already ascribed to Schwarzbach South.