Prospex Energy Provides Operational Update, Appoints Joint Broker
Why we think this is neutral
This RNS announcement provides an operational update on Prospex Energy's portfolio of gas and power assets in Europe, as well as the appointment of a new joint corporate broker. While the update highlights increased production and revenue, it does not contain any of the mandatory news types that would warrant a more positive or negative sentiment score.
Key Points
- Net production across Prospex's portfolio now at ≈70,000 scm/d (≈2.5 MMscfd ≈424 Boe/d)
- Appointment of Hannam & Partners as Joint Corporate Broker
- Drilling schedules provided for Viura, Selva and El Romeral assets
Summary
Prospex Energy plc (AIM: PXEN), the AIM quoted investment company focused on European gas and power projects, has provided an operational update on its production, development and drilling schedules across its portfolio of three producing natural gas assets onshore Europe: Viura, Selva and El Romeral. The company's net production has increased by 187% since January 2024, leading to a commensurate increase in net revenues. Prospex has also announced the appointment of Hannam & Partners as Joint Corporate Broker to the Company.