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SHEL / Beacon Energy posts half-yearly report for period during which the cash shell refocused its strategy

Beacon Energy posts half-yearly report for period during which the cash shell refocused its strategy
Beacon Energy PLC (AIM:BCE) has announced its half-yearly report for the six months ended 31 October 2022, a period during which the cash shell company refocused its strategy and substantially reduced its cost base in order to preserve cash and assess its next steps following the disappointing outcome on the Buffalo well announced in January 2022. To implement this strategy, on 26 July 2022, the company successfully raised £425,000 from new and existing shareholders, including £80,000 from directors of the company, to support the pursuit of value-enhancing acquisition opportunities, and on 9 September, the company announced that it had entered into a non-binding heads of terms agreement with the majority owner of a European oil and gas company. Read More
Posted: Jan 13 2023, 03:46
Author Name: Proactive Investors
Views: 110627

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