REG - Prospex Energy PLC - CEO takes up post

Prospex EnergyAnnouncement

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RNS Number : 2706R  Prospex Energy PLC  02 February 2026

Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas

 

 

2 February 2026

 

Prospex Energy PLC

("Prospex" or the "Company")

 

Senior Management Changes: CEO takes up post

 

Further to the 6 January 2026 RNS, Prospex Energy PLC (AIM: PXEN), the
AIM-quoted investment company focused on European gas and power projects,
confirms the appointment of Tom Reynolds as director and Chief Executive
Officer with immediate effect.

 

Mark Routh has retired as a director and will remain available to support a
smooth and orderly transition over the next three months.

 

William Smith, Non-Executive Chair of Prospex, commented:

"I would like to thank Mark for his significant contribution to the Company
and, in particular, for his achievements in diversifying the Company's asset
base over his tenure. On behalf of the Board, I wish him the best for the
future. We welcome Tom Reynolds to Prospex.  He brings a value and
investment focused approach to the Company, and I am confident in his ability
to deliver value to shareholders going forward. "

 

Tom Reynolds, CEO said:

"Since my appointment was announced in early January, I have  spent
significant time with the Prospex team, and I have been consistently impressed
by the team's high technical standards and professionalism. Initially, my
priority will be to work with the team and our partners to build an asset by
asset plan with the objective of growing value. I look forward to engaging
with Prospex stakeholders as the Board, team and I develop this plan over the
coming months, building on the existing solid foundation."

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

 

* * ENDS * *

 

For further information visit www.prospex.energy (http://www.prospex.energy)
or contact the following:

 

 Tom Reynolds                      Prospex Energy PLC            Tel: +44 (Tel:+44) (0) 20 7236 1177
 Ritchie Balmer                    Strand Hanson Limited         Tel: +44 (0) 20 7409 3494

Rory Murphy
 Andrew Monk (Corporate Broking)   VSA Capital Limited           Tel: +44 (0) 20 3005 5000

Andrew Raca (Corporate Finance)
 Neil Passmore                     Hannam & Partners             Tel: +44 (0) 20 7907 8500

 Leif Powis
 Ana Ribeiro / Charlotte Page      St Brides Partners Limited    Tel: +44 (0) 20 7236 1177

 

Notes

 

Prospex Energy PLC is an AIM quoted investment company focussed on high impact
onshore and shallow offshore European opportunities with short timelines to
production.  The Company's strategy is to acquire undervalued projects with
multiple, tangible value trigger points that can be realised within 12 months
of acquisition and then applying low-cost re-evaluation techniques to identify
and de-risk prospects.  The Company will rapidly scale up gas production in
the short term to generate internal revenues that can then be deployed to
develop the asset base and increase production further.

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