Prospex Oil and Gas (GB:PXEN) has released an update.
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Prospex Energy PLC has completed the acquisition of a 7.5% stake in HEYCO Energy Iberia S.L., giving them a significant share in the Viura gas field in Spain, which is poised to enhance the company’s strategy to become a leading European energy group. The deal, fueled by an investment of approximately £4.2 million, positions Prospex to benefit from the estimated 90 billion cubic feet of remaining gas reserves in Viura. The development well Viura 1B is on track to initiate production as early as October 2024, marking a strategic advancement for Prospex in the energy sector.
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