Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas

27 August 2021

Prospex Energy PLC ('Prospex' or the 'Company')

Board Appointment

Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, is pleased to announce that, further to its 9 August 2021 RNS, Alasdair Buchanan has been appointed as an independent Non-Executive Director of the Company with immediate effect.

Alasdair is a highly experienced upstream oil and gas professional with considerable experience at senior executive and board director level with multi-national global service companies. For further details on Alasdair's background and experience, please refer to the Company's announcement of 9 August 2021.

Bill Smith, Chairman of Prospex commented: "The technical and operational expertise Alasdair brings to the Board will prove invaluable as we look to monetise our asset base and generate shareholder value.  With the Selva gas field in Italy due to come online in 2022, a work programme in place to increase electricity generation at the El Romeral power plant in Spain, and the ongoing evaluation of new ventures, Alasdair's skillset and experience will be put to good use in the period ahead."

Further information on Mr Alasdair Buchanan's appointment

The following details in relation to the appointment of Mr Buchanan are disclosed in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules:

Mr Alasdair Ian Buchanan (aged 60) has held the following directorships and/or partnerships in the past five years.

There is no further information to be disclosed in relation to Mr Buchanan's appointment pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

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For further information visit www.prospex.energy or contact the following: