Shares in Beacon Energy PLC (AIM:BCE) surged 12% in the first hour of trade following an update on its Schwarzbach-2(2.) drilling operations.
The company, which has a portfolio of oil and gas assets in Germany, is currently drilling a deviated mechanical sidetrack.
The well is on track to test the reservoir targets and complete as a producer, contributing to the development of the Stockstadt Mitte segment of the Erfelden field.
Beacon said it expects to reach total depth in the coming days, adding that it will provide further updates "as appropriate".
At 8.59 am, the shares were changing hands for 0.09p, up 0.01p