Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas
30 December 2021
Prospex Energy PLC
El Romeral: Income Update
Prospex Energy PLC, ('Prospex' or the 'Company') the AIM quoted investment company (AIM: PXEN) focused on European gas and power projects, is pleased to provide an update on the El Romeral power plant in southern
Highlights:
· Loan repayment made by Tarba to its shareholders of
· Prospex's share of this is
· Tarba has now repaid its shareholders 40% of the
· Further loan repayments expected in 2022
As a direct result of the strong electricity prices which have been realised in Q4 2021, on 29 December 2021, Tarba made a loan repayment of
From September to December 2021 gross monthly income from El Romeral has averaged more than
The high income from electricity generation at the plant has been augmented by the ability of the plant to run 24-hour operations regularly. The initial outlay by Tarba for the plant optimisation and automation project of
Since the El Romeral plant is now comfortably meeting its running costs and since forward curve electricity prices are looking very strong, Prospex expects that during 2022 further loan repayments are likely to be passed up to its shareholders.
Mark Routh, Prospex's CEO, commented:
"This loan repayment by Tarba Energía to its two shareholders is 40% of the
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of
* * ENDS * *
For further information visit www.prospex.energy or contact the following:
Mark Routh |
Prospex Energy PLC |
Tel: +44 (0) 20 7236 1177 |
Rory Murphy |
Strand Hanson Limited
|
Tel: +44 (0) 20 7409 3494 |
Colin Rowbury |
Novum Securities Limited |
Tel: +44 (0) 20 7399 9427 |
Duncan Vasey |
Peterhouse Capital Limited |
Tel: +44 (0) 20 7220 9797 |
Susie Geliher |
St Brides Partners Ltd
|
Tel: +44 (0) 20 7236 1177 |
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