Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas
6 May 2022
Prospex Energy PLC
('Prospex' or the 'Company')
Appointment of VSA Capital as Corporate Broker
Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, is pleased to announce the appointment of VSA Capital Limited ('VSA Capital'), effective immediately, as Joint Financial Adviser and Joint Corporate Broker to the Company.
As part of an enhanced package of services VSA Capital will, among other things, initiate research on Prospex, with periodic updates on corporate developments and assist with the Company's market communications.
VSA Capital is acting in a Joint Corporate Broker capacity alongside Novum Securities Limited.
Mark Routh, Prospex's CEO, commented:
"We are extremely pleased to be taking on VSA Capital as our joint corporate broker and joint financial adviser. VSA Capital will provide the Company with an enhanced package of services including the preparation of an analyst's research note on the Company for our existing and potential investors.
"VSA Capital will also provide Prospex with invaluable market intelligence and specialist financial advice in the energy and resources sector, generally enhancing the Company's investor relations and market reach. I am excited to be working closely with the team at VSA Capital in the coming months as we transition to increase natural gas production in the near term from our existing asset portfolio in both
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of
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For further information visit www.prospex.energy or contact the following:
Mark Routh |
Prospex Energy PLC |
Tel: +44 (0) 20 7236 1177 |
Ritchie Balmer |
Strand Hanson Limited |
Tel: +44 (0) 20 7409 3494 |
Andrew Monk (Corporate Broking) |
VSA Capital Limited |
Tel: +44 (0) 20 3005 5000 |
Colin Rowbury |
Novum Securities Limited |
Tel: +44 (0) 20 7399 9427 |
Susie Geliher |
St Brides Partners Limited
|
Tel: +44 (0) 20 7236 1177 |
Notes
Prospex Energy PLC is an AIM quoted investment company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production. The Company's strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then applying low-cost re-evaluation techniques to identify and de-risk prospects. The Company will rapidly scale up gas production in the short term to generate internal revenues that can then be deployed to develop the asset base and increase production further.
About El Romeral and Tarba
The El Romeral gas and power project in
About Selva:
The Podere Gallina Licence is in the Po Valley region of
The Podere Gallina Licence holds independently verified 2P gross reserves of 13.4 Bcf (5.0 Bcf net to Prospex at 37% WI), gross Contingent 2C Resources of 14.1 Bcf (5.2 Bcf net) and a further 91.5 Bcf of gross Best Estimate Prospective Resources (33.9 Bcf net).
An independent Competent Person's Report of the Podere Gallina Licence was prepared by CGG Services (
The CPR also attributed Best Estimate gross prospective (un-risked) gas resources of 1,493 MMscm (52.7 Bcf) on the Podere Gallina Licence in three separate structures.
References:
[1] Source: "Competent Person's Report Podere Gallina Licence,
Glossary:
scm Standard cubic metres
MMscm Million standard cubic metres
Bcf Billion standard cubic feet
Qualified Person Signoff
In accordance with the AIM notice for Mining and Oil and Gas Companies, the Company discloses that Mark Routh, the CEO and a director of Prospex Energy plc has reviewed the technical information contained herein. Mark Routh has an MSc in Petroleum Engineering and has been a member of the Society of Petroleum Engineers since 1985. He has over 40 years operating experience in the upstream oil and gas industry. Mark Routh consents to the inclusion of the information in the form and context in which it appears.
The updated Corporate Presentation for Q2-2022 is available on the Company's website at https://bit.ly/3vhTXwL.
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