The latest announcement is out from Prospex Oil and Gas ( (GB:PXEN) ).
Prospex Energy PLC has announced a significant 187% increase in net production rates since January 2024, despite a reduction in flow rates from its Viura production facility. The company continues to see a rise in net revenues, aided by increased energy prices. Prospex is progressing with drilling schedules across its European gas assets, including Viura, Selva, and El Romeral, with various operational updates and timelines provided. Additionally, the company has appointed Hannam & Partners as a joint corporate broker to enhance market communications and research capabilities, reflecting its strategic growth and commitment to increasing natural gas production and cash flow.
More about Prospex Oil and Gas
Prospex Energy PLC is an AIM-quoted investment company that focuses on high-impact onshore and shallow offshore European opportunities with short timelines to production. The company aims to acquire undervalued projects with multiple, tangible value trigger points that can be realized within 12 months of acquisition. It employs low-cost re-evaluation techniques to identify and de-risk prospects, rapidly scaling up gas production to generate internal revenues for further asset development and increased production.
YTD Price Performance: -19.86%
Average Trading Volume: 852,276
Technical Sentiment Signal: Strong Buy
Current Market Cap: £24.15M
For an in-depth examination of PXEN stock, go to TipRanks’ Stock Analysis page.