REG - Prospex Energy PLC - Viura Field - Planned Reinstatement of Production

Prospex EnergyAnnouncement

09/06/2025 07:00

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RNS Number : 8968L  Prospex Energy PLC  09 June 2025

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

 

9 June 2025

 

Prospex Energy plc

("Prospex" or the "Company")

 

Viura Field Work Over - Planned Reinstatement of Production

 

Prospex Energy plc (AIM: PXEN), the AIM quoted investing company focused on
European gas and power projects, is pleased to inform shareholders that it has
been advised by the Operator of the Viura field, HEYCO Energia Iberia S.L.
 ("HEI" or the "Operator"), that the workover rig to repair a leak in the
completion tubing in the Viura-1B well is currently on site and operational.
The Operator has also advised that the reinstatement of production from the
Viura-1B well is therefore imminent.  The Viura‑1B well was shut in during
April-2025 owing to a leak in the completion tubing which required a rig
intervention to reinstate production.

 

Prospex owns 7.24% of the Viura field through its ownership of 7.5% of HEI.
Prospex is accruing 14.47% of the production income from the Viura gas field
until payback of its capital investment (expected to be ≈£8 million) plus
the accrued 10% p.a. interest thereon.

 

Mark Routh, Prospex's CEO, commented:

"This is good news from HEYCO that the planned workover is on target to
deliver the resumption of production from the Viura field later this month.

"I will continue to keep shareholders updated with regular progress reports as
the well interventions proceed."

 

 

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

 

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