Australia's Prominence Energy jumps as project partner gets funding

Prominence Energy

15/03/2022 02:32

** Shares of oil and gas explorer Prominence Energy  PRM.AX 
jump as much as 20.8% to A$0.015, their highest level since Feb.
10 
    ** Says its project partner Western Gas Corporation Pty Ltd
advised PRM that it has secured funding for its share of the
Sasanof-1 exploration well  urn:newsml:reuters.com:*:nASX5hByt0 
    ** Sasanof-1 is a gas exploration project, in which Western
Gas has a 62.5% working interest, Prominence Energy has 12.5%
and Global Oil and Gas has 25% 
    ** Drilling at Sasanof-1 to commence in May 
    ** PRM stock set for its largest single-day percentage climb
since March 7
    ** PRM has added 41.2% YTD as of last close 

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))