Beacon Energy plc has announced a proposed fundraise of approximately £4 million through a conditional placing to institutional and other investors, as well as a retail offer through PrimaryBid. The fundraise will consist of the issuance of approximately 2,667,000,000 new ordinary shares at a price of 0.15 pence per share. The Placing is subject to the terms and conditions set out in the announcement. The proceeds from the fundraise will be used to further develop the company's onshore German assets and accelerate drilling activities. The Placing is not underwritten.