Prospex Energy plc has to date received £985,000 committed subscriptions, of a targeted £1.6 million, for its offering of its unsecured convertible loan notes. DIRECTOR DEALINGS The figure includes the £565,000 from 22 December 2025. The company said it had extended the offering until 16 January 2026. The unsecured CLN, each of £1 and due […]
Tag: Prospex Energy plc
Prospex CEO retires
Prospex Energy plc chief executive officer and director Mark Routh will retire from the end of January. Mr Routh, who took up the post in July 2021, will be replaced by former CEO of Scirocco Energy plc, Tom Reynolds, with effect from no later than 1 February 2026. Prospex said: “The board is very grateful […]
Prospex raises £565,000
Prospex Energy plc has issued £565,000 in unsecured convertible loan notes to existing and new investors, including the company’s directors, as part of a proposed fundraise of up to £1.6 million. DIRECTORS’ DEALINGS Directors who participated in the 19 December fundraise include non-executive chairman Bill Smith for £25,000, independent non-executive director Alasdair Buchanan, £25,000; chief […]
Prospex JV resumes production at Viura-1B
Prospex Energy plc’s joint venture has retrieved testing equipment left inside the Viura-1B well and restarted gas production in Northern Spain. CASHFLOW Partner and operator Heyco Energía Iberia S.L. resumed production on 17 October and three days later reached 120,000 cubic metres per day. The JV aims for 180,000 cmd plateau production this week. “The […]
Prospex faces further production delays at Viura
Prospex Energy plc said that equipment left inside the tubing of the Viura-1 well during testing had further delayed resumption of production from the gas field in northern Spain. SAFETY In August, operator Heyco Energia Iberia S.L. completed a well workover, but a “failure in the pressure control equipment” needed safe and controlled cutting of […]
Prospex’s Viura-1B production restart delayed
Prospex Energy plc said that technical and equipment issues had delayed the restart of production from the Viura-1B well, which completed successful flow tests, in northern Spain. FLOW RATES Problems initially began in April when operator Heyco Energia Iberia SL shut in the well following a leak in the completion tubing, which was replaced in […]