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

29 June 2021

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

Notice of AGM

Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, is pleased to give notice that its Annual General Meeting ('AGM') will be held at 9:30 at the offices of Charles Russell Speechlys LLP, 5 Fleet Place, London, EC4M 7RD on 27 July 2021. The Notice of AGM will be posted to shareholders shortly and will be available to download from the Company's website later today.

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

Notes

Prospex Energy PLC is an AIM quoted investment company focussed on high impact onshore and shallow offshore European gas and power opportunities. The Company acquires undervalued projects and then applies low-cost re-evaluation techniques to identify and de-risk prospects.  Prospex currently holds a portfolio of three projects: the Podere Gallina Permit in Italy where first gas at the Selva field is targeted for early 2022; the El Romeral gas and power project in Spain, which includes three producing wells that supply gas to a 100% project-owned 8.1MW power plant; and the large scale Tesorillo gas project in southern Spain, which has the potential to hold gross un-risked Prospective Resources of 830 Bcf of gas (Best Estimate), with upside in excess of 2 Tcf. The Company's strategy is to 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.