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Prospex Oil and Gas
(LSE:PXEN)
Prospex Oil and Gas (PXEN) vs. iShares MSCI United Kingdom ETF (EWC)
Prospex Oil and Gas Business Overview & Revenue Model
Prospex Oil and Gas Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | 243.59K | 0.00 | 50.27K | -839.00K | 2.38M | -1.76M |
| Net Income | 48.26K | -46.76K | -1.23M | 7.14M | 2.26M | -1.81M |
Balance Sheet | ||||||
| Total Assets | 26.52M | 25.76M | 21.80M | 23.06M | 8.98M | 5.75M |
| Cash, Cash Equivalents and Short-Term Investments | 147.23K | 1.19M | 3.29K | 1.48M | 220.06K | 220.62K |
| Total Debt | 0.00 | 0.00 | 168.49K | 2.61M | 388.20K | 867.57K |
| Total Liabilities | 992.70K | 1.17M | 1.22M | 3.91M | 481.49K | 1.03M |
| Stockholders Equity | 25.53M | 24.59M | 20.58M | 19.15M | 8.50M | 4.72M |
Cash Flow | ||||||
| Free Cash Flow | -4.11K | -2.61M | -1.16M | -4.24M | -1.05M | -1.16M |
| Operating Cash Flow | -4.11K | -2.61M | -1.16M | -4.24M | -1.05M | -1.16M |
| Investing Cash Flow | 57.00 | -6.33K | -161.43K | -122.00 | -106.72K | -51.66K |
| Financing Cash Flow | 4.25M | 3.79M | -156.44K | 5.50M | 1.05M | 1.31M |
Prospex Oil and Gas Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
54 Neutral | £11.97M | -1.14 | -21.11% | ― | -12.15% | -200.00% | |
52 Neutral | £10.67M | -2.40 | -16.91% | ― | -29.63% | -427.78% | |
44 Neutral | £8.88M | -2.70 | -5.14% | ― | ― | ― | |
43 Neutral | £12.25M | -13.48 | ― | ― | ― | 27.27% | |
42 Neutral | £11.79M | 275.00 | 0.21% | ― | ― | ― |
Prospex Oil and Gas Corporate Events
Prospex Energy has secured committed subscriptions of about £1 million towards its planned £1.6 million issuance of unsecured Convertible Loan Notes and extended the offer period to 16 January 2026, with the notes carrying a 12% annual coupon, a 3p conversion price and staged principal repayments through mid-2028. The company plans to use the net proceeds primarily to fund capital expenditure across its European gas assets, including £800,000 for development at Italy’s Selva Malvezzi concession, £300,000 for a new transformer at Spain’s El Romeral power plant, and settlement of a prior cash call at the Viura project, while signalling confidence that forecast higher gas production will support loan repayments; Chairman Bill Smith’s increased and partially fee-funded participation, cleared as fair and reasonable by the company’s nominated adviser, further underscores board backing for the financing.
The most recent analyst rating on (GB:PXEN) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Prospex Oil and Gas stock, see the GB:PXEN Stock Forecast page.
Prospex Energy has announced the retirement of CEO Mark Routh and the appointment of Tom Reynolds as its new chief executive and board director, effective by 1 February 2026, with Routh supporting a short transition period. Reynolds, a seasoned energy-sector executive with prior leadership roles at Scirocco Energy and Bridge Energy and current non-executive duties at Zephyr Energy, will receive a remuneration package that includes salary, equity, a signing bonus via convertible loan notes, and nil-cost options tied to a future liquidity event, underscoring the Board’s drive to align management incentives with long-term value creation. Alongside the leadership change, Prospex confirmed that its previously announced up to £1.6 million convertible loan note offering remains open, signaling the company’s ongoing efforts to strengthen its capital base as it seeks to grow its European gas and power asset portfolio and deliver increased returns for shareholders.
The most recent analyst rating on (GB:PXEN) stock is a Hold with a £3.00 price target. To see the full list of analyst forecasts on Prospex Oil and Gas stock, see the GB:PXEN Stock Forecast page.
Prospex Energy has raised £565,000 through the issue of unsecured convertible loan notes and is opening the offering to existing shareholders and qualified investors to increase the total subscription to up to £1.6 million. The notes, which pay 12% annual interest and are convertible at 3p per share with staged capital repayments by mid-2028, will primarily finance the company’s 37% share of 3D seismic costs at the Selva Malvezzi gas concession in Italy, a new transformer for the El Romeral power plant in southern Spain, and the previously deferred £200,000 cash call on the Viura asset in northern Spain. With directors and a major partner, HEYCO Energy Group, participating in the issue, the funding is intended to support Prospex’s growth-focused capital expenditure while production income continues to cover operating expenses, underscoring management’s confidence in the long‑term value potential of its European gas and power portfolio.
Prospex Energy PLC announced the successful completion of a 3D geophysical acquisition campaign over the Selva Malvezzi production concession in Italy, conducted by Po Valley Operations Pty Limited. This campaign, covering approximately 140 square kilometers, is crucial for refining the joint venture’s four-well development program. The data acquired will undergo processing to create a high-resolution subsurface model, supporting future field development and potential resource upgrades. The completion of this project, ahead of schedule and on budget, highlights Prospex’s operational efficiency and strategic focus on enhancing its asset base in the European gas sector.
Prospex Energy PLC has made significant financial strides in 2025, investing £3.763 million in its assets, primarily funded through internal resources and equity raises. The company has expanded its holdings, including full ownership of the El Romeral power plant and further investments in the Viura gas field. With ongoing projects in Italy and new ventures in Poland, Prospex aims to capitalize on the growing European gas market, while planning to finance future capital expenditures through various means to enhance shareholder value.
Prospex Energy PLC has announced an operational update for the Viura gas field in northern Spain, where it holds a 7.24% interest. The field is producing gas at a steady rate of over 190,000 standard cubic meters per day, with a reduced water production due to recent well improvements. This performance supports the company’s view of Viura as a strong asset. The operator is reprocessing 3D seismic data to optimize the structural model, aiming to secure a debt facility for future development wells scheduled for late 2026 or early 2027. This update underscores Prospex’s strategic focus on enhancing its energy portfolio and securing financial backing for further development.
Prospex Energy PLC has announced significant progress in the Selva Malvezzi production concession in Italy, where a 3D seismic survey is underway to enhance geological understanding and optimize future drilling targets. The PM-1 well continues to perform robustly, producing 61 million scm of natural gas since July 2023, and recent operational improvements, including noise reduction measures and vegetation screening, have strengthened community relations.
Prospex Energy PLC has completed the statutory Environmental Impact Assessment (EIA) consultation process for drilling five new natural gas wells on the El Romeral concessions in Spain, with no objections from 29 statutory consultees. The Ministry for the Ecological Transition and the Demographic Challenge in Madrid (MITECO) now has the full EIA documentation to assess, with a timeline of 90-180 days for final approval. This development is crucial for Prospex, as the El Romeral power plant will reach full output capacity from the production of just two of the proposed wells, supporting expansion plans and the ability to supply natural gas directly to the gas grid.
Prospex Energy PLC has reported consistent gas production from the Podere Maiar-1 well in the Selva Malvezzi Production Concession in Italy, contributing to strong operating cash flows. The company transitioned to a new gas sales agreement with Hera Trading starting October 2025. Additionally, Prospex is advancing its development plans for four new wells and a 3D geophysical survey, with permitting processes nearing completion. These developments are expected to enhance Prospex’s operational capabilities and market positioning in the European gas sector.
Prospex Energy PLC announced that gas production from the Viura-1B well in the Viura gas field in northern Spain has reached the planned plateau rate of 180,000 normal cubic metres per day. This achievement confirms the Viura field’s potential as a prolific gas source, significantly increasing Prospex’s estimated reserves and expected to continue production and cash flows long into the future. The company’s ownership in the field and the successful production rates highlight its strategic focus on expanding its asset base and enhancing its market position.
Prospex Energy PLC has announced its applications for two onshore licence areas in Poland, named ‘San’ and ‘Dunajec’, have been published in the EU Journal. This move is part of Prospex’s European growth strategy, aiming to expand its portfolio to a third European nation. The company has pre-qualified for the competitive bidding process required under EU laws, with the application window closing in January 2026. If successful, the licences will allow Prospex to unlock new gas reserves and potentially establish joint ventures to manage the blocks. This expansion into Poland aligns with the country’s supportive regulatory regime for natural gas investment, enhancing Prospex’s positioning in the European energy market.
Prospex Energy PLC has announced the resumption of gas production from the Viura-1B well in the Viura gas field in northern Spain, operated by HEYCO Energía Iberia S.L. The production restart follows successful retrieval operations after a pressure control equipment failure in August. Prospex, owning 7.24% of the Viura field, is set to accrue 14.47% of the production income until its initial capital investment is repaid. This development significantly contributes to Prospex’s portfolio, enhancing cash flow and reinforcing its market position in European gas projects.
Prospex Energy PLC announced the resumption of gas production from the Viura-1B well in the Viura gas field, northern Spain, operated by HEYCO Energía Iberia S.L. The well, which had been shut down due to equipment failure, is now back in production, reaching 120,000 cubic meters per day with plans to increase to 180,000 cubic meters per day. Prospex holds a 7.24% interest in the field and is accruing 14.47% of the production income until its initial capital investment is repaid. This development is significant for Prospex as the Viura field represents the largest contribution to its portfolio, reinstating cash flow and enhancing its market position. The Viura acquisition has notably increased Prospex’s estimated reserves, with further evaluation expected to increase recoverable reserves.