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Prospex Oil and Gas ( (GB:PXEN) ) has shared an announcement.
Prospex Energy plc has announced a fundraising initiative to raise a minimum of £550,000 through a Placing and Subscription, with an additional retail offer aiming to raise up to £500,000. The funds will support ongoing operations in Spain and Italy, including workover activities at the Viura field and preparations for the 2026 drilling campaign. This strategic move is part of Prospex’s efforts to strengthen its market position and enhance production capabilities, leveraging recent acquisitions and investor support to become a mid-tier independent European energy producer.
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, tangible value trigger points that can be realized within 12 months of acquisition, applying low-cost re-evaluation techniques to identify and de-risk prospects, and rapidly scaling up gas production to generate internal revenues for further asset development.
Average Trading Volume: 934,514
Technical Sentiment Signal: Sell
Current Market Cap: £21.33M
See more data about PXEN stock on TipRanks’ Stock Analysis page.