An announcement from Prospex Oil and Gas ( (GB:PXEN) ) is now available.
Prospex Energy plc has reported steady gas production and revenues from its Selva Malvezzi production concession in Italy, with the Podere Maiar-1 well maintaining an average daily production rate of 77,292 scm. The company has also submitted drilling applications for four new wells and is preparing for a 3D geophysical survey, which is expected to optimize subsurface drilling targets. These developments are part of Prospex’s broader strategy to enhance shareholder value by expanding its production capabilities and leveraging strong market conditions.
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. Prospex applies low-cost re-evaluation techniques to identify and de-risk prospects, with the goal of rapidly scaling up gas production to generate internal revenues for further asset development and increased production.
YTD Price Performance: -23.97%
Average Trading Volume: 889,627
Technical Sentiment Signal: Buy
Current Market Cap: £22.34M
For an in-depth examination of PXEN stock, go to TipRanks’ Stock Analysis page.