Update on well integrity & testing at Colle Santo

Beacon Energy (AIM:BCE) announces it has been informed by LNEnergy Limited (“LNEnergy”) that the equipment required to undertake well testing operations on the two existing wells, MP-1 and MP-2, will shortly be mobilised to the Colle Santo site.

Initial well integrity tests were completed in August 2026, with a variety of corrosion and integrity tests conducted. All tests performed on MP-1 and MP-2 indicate integrity. Certain tests on MP-1 could not be performed due to a stuck valve, although those tests will now be performed as part of the well testing operation in October 2026. The wellhead pressure on both MP-1 and MP-2 was recorded at 121 barg, in line with expectations.

A 5-day production test is expected to commence in the coming weeks. The outcome of the production test is anticipated around the end of October 2026.

Stewart MacDonald, Chief Executive Officer of Beacon Energy, commented:

“As a reminder, the Colle Santo field is a fully appraised 73 BCF gas field with eight well penetrations since discovery and, of those, seven wells having flowed gas to surface.

“The most recent wells, MP-1 and MP-2, were drilled and tested in 2007 and 2008 at a combined rate of 20 mmcf/d, far in excess of the 11 mmcf/d planned during the production phase.

“It is reassuring that based on the tests conducted to date, the integrity of the MP-1 and MP-2 wells has been confirmed and that wellhead pressure in both wells is in line with expectations.

“We look forward to the outcome of the 5-day production test around the end of October.”