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An update from Prospex Oil and Gas ( (GB:PXEN) ) is now available.
Prospex Energy PLC announced that Po Valley Energy Limited has received regional approval to commence a 3D seismic campaign in the Selva Malvezzi Production Concession in Italy. This campaign is crucial for the development program, which includes drilling four new wells, enhancing the current Podere Maiar-1 well, and ensuring the environmental footprint is minimal. The seismic data will help optimize drilling locations for wells targeting significant gas resources. The company anticipates obtaining the necessary drilling permits in the second half of 2025, indicating potential growth and positioning in the European gas market.
More about Prospex Oil and Gas
Prospex Energy PLC is an AIM-quoted investment company concentrating on significant onshore and shallow offshore European opportunities with short timelines to production. The company’s strategy involves acquiring undervalued projects with multiple tangible value trigger points, realized within 12 months of acquisition, and using low-cost re-evaluation techniques to identify and de-risk prospects. Prospex aims to rapidly scale up gas production to generate internal revenues for further asset development and increased production.
YTD Price Performance: -1.37%
Average Trading Volume: 1,146,968
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £28.58M
For a thorough assessment of PXEN stock, go to TipRanks’ Stock Analysis page.
