Prospex Energy Raises £1.35m via Convertible Notes to Fund European Gas Assets

The latest update is out from Prospex Oil and Gas ( (GB:PXEN) ).

Prospex Energy PLC has completed a £1.35 million fundraising through unsecured Convertible Loan Notes, with proceeds already used to meet its 37% share of the 3D seismic acquisition at the Selva Malvezzi concession in Italy and to clear outstanding obligations at its Viura interest in Spain. The notes, carrying 12% annual interest and convertible at 3p per share, also fund upgrades at the El Romeral power plant and support broader capital expenditure, strengthening Prospex’s balance of growth funding and production-backed cash flow; director participation has been treated as a related-party transaction, with the company’s nominated adviser deeming the terms fair and reasonable for shareholders.

The most recent analyst rating on (GB:PXEN) stock is a Hold with a £2.50 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 European gas and power projects. The company holds interests in production and development concessions including the Selva Malvezzi gas field in Italy, the Viura gas project in northern Spain, and the El Romeral power plant in southern Spain, generating production income that helps fund its operational costs and overheads.

Average Trading Volume: 1,167,722

Technical Sentiment Signal: Sell

Current Market Cap: £12.65M

Learn more about PXEN stock on TipRanks’ Stock Analysis page.