Prospex Energy Faces Temporary Production Halt at Viura Field

Prospex Oil and Gas ( (GB:PXEN) ) just unveiled an update.

Prospex Energy PLC announced a temporary cessation of production at the Viura-1B well due to a leak in the completion tubing, impacting the schedule for drilling development wells. The operator, HEYCO Energia Iberia S.L., is mobilizing equipment to perform a workover by mid-June 2025, with plans to resume production and optimize financing options for future drilling. This delay allows Prospex more time to generate cash from other assets, reducing the need for additional market funding.

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 aims to acquire undervalued projects with multiple value trigger points, applying low-cost re-evaluation techniques to identify and de-risk prospects, and rapidly scale up gas production to generate internal revenues for further development.

YTD Price Performance: -17.12%

Average Trading Volume: 868,350

Technical Sentiment Signal: Buy

Current Market Cap: £24.35M

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