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Prospex Oil and Gas ( (GB:PXEN) ) has shared an update.
Prospex Energy plc reported significant growth in gas production and revenue from its Selva Malvezzi Production Concession in Italy during Q4 2024, with a 91% year-on-year increase in gross production. The PM-1 gas facility’s robust production and increased gas prices contributed to a notable revenue boost, enhancing the company’s ability to fund future development projects. Additionally, Prospex has made substantial progress in its drilling applications and environmental studies for four new wells, positioning the company for further expansion and value creation for shareholders.
More about Prospex Oil and Gas
Prospex Energy plc is an AIM quoted investment company focused on high-impact onshore and shallow offshore European opportunities with short timelines to production. The company’s strategy involves acquiring undervalued projects that can be developed rapidly to generate internal revenues, which are then used to further develop their asset base. Prospex holds a 37% working interest in the Selva Malvezzi Production Concession in Italy, which contains the Selva gas field and other exploration opportunities.
YTD Price Performance: 0.0%
Average Trading Volume: 1,143,758
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £29.39M
See more insights into PXEN stock on TipRanks’ Stock Analysis page.
