I have taken a punt on Prospex Oil and Gas, a £4m market cap minnow. It has 3 projects with production set to flow according to company guidance in Q3 from its Romanian (50% stake in the Suceava Concession) gas find in late 2017, this is expected to generate around 0.6m Euros per year for the company initially.

It has a much bigger play and find in Italy (17% interest in the Selva gas field) which is expected to be in production by 2020.

The big project it is associated with is the Tesorillo area in Spain which contains a large gas discovery estimated to contain 830 BCF with upside of over 2 TCF, it can earn up to 49.9% of this project on certain bits of work and progress.

Here is a copy of the Peterhouse broker report

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