Prospex Oil and Gas (GB:PXEN) has released an update.
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Prospex Energy PLC has successfully completed an oversubscribed fundraising initiative, securing approximately £4.20 million through the issuance of new ordinary shares, which will enable the company to acquire a 7.5% interest in the Viura gas field in Spain. The fundraising also received strong support from existing shareholders, reflecting confidence in Prospex’s potential to become a leading gas producer in Spain. The funds are expected to significantly enhance the company’s gas reserves, production, and cash flow.
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