REG - Prospex Energy PLC - Prospex Advances European Growth Strategy

Prospex EnergyAnnouncement

Wed 07:00

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RNS Number : 2796E  Prospex Energy PLC  22 October 2025

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

 

22 October 2025

 

Prospex Energy plc

("Prospex" or the "Company")

 

Prospex Advances European Growth Strategy

with Polish Licence Applications Published in EU Gazette

 

Prospex Energy plc (AIM: PXEN), the AIM quoted investing company focused on
European gas and power projects, is pleased to announce that its applications
for two onshore licence areas in Poland were published in the official EU
Journal on 14 October 2025.

 

Prospex, through its wholly owned subsidiary PXEN Tatra Sp z.o.o. has applied
for two licence areas onshore in southern Poland which have been named 'San'
and 'Dunajec'.  The projects meet the Company's stringent investment
criteria, being areas which have proven gas production, high potential
prospectivity in the targeted geological horizons, high potential for new
reserves to be unlocked and can be brought onstream within two to three years.

 

Under EU laws, the application to licence open areas for hydrocarbon
exploration and exploitation must be subject to a competitive process.  The
EU Journal announcement provides information about the opportunity to make a
competitive offer for the defined exploration areas.  A 90-day application
window now follows the publication, where interested entities must submit
concession applications to Poland's Ministry of Climate and Environment.
 Only companies that have pre-qualified to apply for licences may make such
submissions.  Prospex has already pre-qualified to apply for onshore open
acreage hydrocarbon exploration licences in Poland.  (Ref RNS_4_October_2024
(https://polaris.brighterir.com/public/prospex_energy_plc/news/rns/story/rg1mejr)
.)

 

The bidding process is fully confidential and the selection criteria are
defined.  If competitive applications are received the ultimate selection to
award is determined by the regulator.  There is no opportunity to improve an
offer or argue a specific case.

 

Full details of the proposed work programmes and the licence areas remain
confidential until such time as the Ministry awards the licences.  The 90-day
application window ends in January 2026.  Then the administrative procedure
to award the licences will take approximately three months meaning that the
earliest that the licences can be awarded is April/May 2026.  If Prospex is
awarded the licences further details will be disclosed.

 

Mark Routh, Prospex's CEO, commented:

"Our planned expansion into Poland marks an important step in our active
growth strategy and would add a third European nation to our portfolio reach.
 The publication of our Polish licence applications in the EU Gazette is a
positive step forward.  Our team has extensive exploration experience in
Poland and so is very familiar with the regional geology and the regulatory
environment.  Poland is well known for its hydrocarbon resources and has a
regulatory regime which is supportive of natural gas investment as the nation
focusses on its security of energy supply, so we are extremely excited by the
development opportunities these new licences would present should they be
awarded to Prospex."

 

Further Information

The licence applications have been submitted with PXEN Tatra initially having
a 100% working interest.  Should the applications be successful, the
Company's primary strategy will be to establish joint ventures to manage and
operate the blocks.

 

PXEN Tatra has proposed an appropriate work programme in order to achieve
licence award and maximise the chances of success of commercial discoveries.
The Company has an experienced Country Manager in Poland and consultant
Reservoir Geologist based in Poland to manage and advance the applications.

 

'San' Licence Application

https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C_202505529
(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C_202505529)

'Dunajec' Licence Application

https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C_202505530
(https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C_202505530)

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

* * ENDS * *

 

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

 

 Mark Routh                        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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