Prospex Oil and Gas (GB:PXEN) has released an update.
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Prospex Energy PLC, an AIM-listed investment company operating in the oil and gas sector, reports a loss of £1,231,400 for the year ended 31 December 2023, primarily due to a re-adjustment of commodity prices post the inflated levels seen in 2022. Despite the loss, the company highlights the successful start of gas production from the Selva Field in Italy, and the generation of €1.8 million in revenue from the El Romeral power plant in Spain. Looking ahead, Prospex boasts a debt-free status, cash generation, and a well-positioned strategy for growth.
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