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Prospex Oil and Gas ( (GB:PXEN) ) has provided an update.
Prospex Energy has secured committed subscriptions of about £1 million towards its planned £1.6 million issuance of unsecured Convertible Loan Notes and extended the offer period to 16 January 2026, with the notes carrying a 12% annual coupon, a 3p conversion price and staged principal repayments through mid-2028. The company plans to use the net proceeds primarily to fund capital expenditure across its European gas assets, including £800,000 for development at Italy’s Selva Malvezzi concession, £300,000 for a new transformer at Spain’s El Romeral power plant, and settlement of a prior cash call at the Viura project, while signalling confidence that forecast higher gas production will support loan repayments; Chairman Bill Smith’s increased and partially fee-funded participation, cleared as fair and reasonable by the company’s nominated adviser, further underscores board backing for the financing.
The most recent analyst rating on (GB:PXEN) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Prospex Oil and Gas stock, see the GB:PXEN Stock Forecast page.
Spark’s Take on GB:PXEN Stock
According to Spark, TipRanks’ AI Analyst, GB:PXEN is a Neutral.
The score is held down primarily by weak financial fundamentals—persistent operating losses and multi-year negative operating/free cash flow—despite a relatively low-debt balance sheet. Technicals also lean negative with the price below key moving averages and a negative MACD, while valuation is pressured by a very high P/E and no reported dividend yield.
To see Spark’s full report on GB:PXEN stock, click here.
More about Prospex Oil and Gas
Prospex Energy PLC is an AIM-quoted investment company in the oil and gas sector, focused on high-impact onshore and shallow offshore European gas and power opportunities with short timelines to production. Its strategy centres on acquiring undervalued projects with multiple, tangible value catalysts, and it currently generates production income from a portfolio that includes interests in the Selva Malvezzi concession in Italy, the Viura gas project in northern Spain, and the El Romeral power plant in southern Spain.
Average Trading Volume: 1,046,224
Technical Sentiment Signal: Sell
Current Market Cap: £11.79M
For an in-depth examination of PXEN stock, go to TipRanks’ Overview page.