Beacon Energy jumps with Colle Santo investor in focus as AIM volume stays light
Beacon Energy PLC traded higher on AIM with light volume Tuesday after announcing a major Italian distributor acquired a stake in LNEnergy Italy, the group linked to the Colle Santo gas project in Abruzzo. Beacon said the investor subscribed €1.4 million for a roughly 10% stake in LNEnergy Italy. At the same time, LNEnergy Italy took its working interest in Colle Santo up to 100% from 90%. Beacon said these two moves keep its indirect economic interest in the project at 43.2%, assuming the second acquisition goes through.