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An update from Prospex Oil and Gas ( (GB:PXEN) ) is now available.
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.
More about Prospex Oil and Gas
Prospex Energy PLC is an AIM quoted investment company focused on high-impact onshore and shallow offshore European opportunities with short timelines to production. The company’s strategy involves acquiring undervalued projects with multiple, tangible value trigger points, applying low-cost re-evaluation techniques to identify and de-risk prospects, and rapidly scaling up gas production to generate internal revenues for further development.
Average Trading Volume: 878,217
Technical Sentiment Signal: Sell
Current Market Cap: £19.08M
For detailed information about PXEN stock, go to TipRanks’ Stock Analysis page.