Prospex Energy plc has settled the third and final capital repayment plus accrued interest from the September 2022 convertible loan notes of a total £500,000 value. GROWTH Using accumulated cash within the company, a total of £175,239.83 has been paid to the three CLN holders. Chief executive Mark Routh said that Prospex was now completely […]
Tag: Selva gas field – Podere Gallina licence – Po Valley – Italy
Prospex converts £471,000 CLNs for 11m shares
Prospex Energy plc has received notices to convert a total £470,840.17 in four convertible loan notes (CLNs) for 11,078,594 new ordinary shares of 0.1p each in the company. The CLNs, issued in July 2022, are convertible at 4.25p per share. Following admission, the company will have 304,835,746 ordinary shares in issue. Prospex holds gas interests in […]
Prospex marks first gas from Podere Maiar-1
Prospex Energy plc reported first gas on 4 July from the Podere Maiar-1 gas facility at the Selva field within the Podere Gallina licence in the Po Valley region of northern Italy. POTENTIAL First gas follows completion of operational and safety inspections and approvals last week at the joint venture project. Podere Maiar-1 will provide […]
Prospex clears delayed fire safety checks at Selva
Prospex Energy plc has cleared final safety checks to start gas production from Podere Maiar-1 at the Selva gas field in the Po Valley region, northern Italy. MOBILISATION The company had faced delays due to regional severe flooding but has now received formal documentation for operations to begin in eight days following completion of all […]
Prospex recovers €280,090 net performance bonds
Prospex Energy plc has received €280,090 net owed performance bonds from the Italian state for completing the gas pipeline tie-in from the Selva gas field joint venture in Po Valley, Italy. AGREEMENT Project operator Po Valley Operations Pty Ltd (PVO) holds 63% and Prospex has a 37% working interest. PVO recovered gross performance bonds of […]
Prospex to use strong foundations for organic growth
Prospex Energy plc said it had laid the foundations for organic growth at its operations from the Selva gas field in Italy and electricity generation in Spain. FINANCES Audited final results for the year ended 31 December 2022 showed an increase of the company’s total assets to £16,064,640 (2021: £6,697,305). Prospex added that the 240% […]