Prospex Oil and Gas (GB:PXEN) has released an update.
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Prospex Energy PLC has successfully qualified to apply for onshore exploration licenses in Poland, marking its expansion into a third European country. The company, which seeks to acquire blocks with proven gas production and high potential for new reserves, expects to submit official applications by the end of October 2024 and hopes to secure the licenses by Q1 2025. Prospex’s strategy involves funding this growth through production income, with plans to establish joint ventures for block management and operation.
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