REG - Prospex Energy PLC - Tarba - El Romeral Production Re-start

Prospex EnergyAnnouncement

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RNS Number : 0182T  Prospex Energy PLC  16 February 2026

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

 

16 February 2026

 

Prospex Energy plc

("Prospex" or the "Company")

 

Tarba - El Romeral Production Re-start

 

Prospex Energy plc (AIM: PXEN), the AIM quoted investment company focused on
European gas and power projects, is pleased to announce that further to its
statement issued on 22 January 2026, Tarba Energía S.L. ("Tarba") has
restarted electricity generation and sales at the El Romeral gas to power
plant in Andalucía, Spain. Prospex has a 100% interest in Tarba.

 

Following the delivery and installation of the rental transformer in late
January, Tarba performed a series of testing and recommissioning steps and
regular electricity production has now re-started.  The rental transformer
will remain on contract until the delivery of the new electricity transformer,
which was ordered from a supplier in Spain last November.  Tarba is in
dialogue with that supplier and good progress is being made on the new build.

 

Tom Reynolds, Prospex's CEO, commented:

"The restart of production at Romeral is a welcome result which now allows
Tarba to continue to generate revenue from electricity sales. Tarba will
continue to optimise production, taking account of prevailing conditions in
the Spanish electricity market to maximise revenue.

 

"Since joining the Company on 1 February 2026 I have focused on meeting the
team, our partners and prospective partners with the objective of
understanding how value can be developed from each of our assets. A key
catalyst for Romeral is the ongoing permitting process for the planned well
programme and meeting the relevant teams within the regulators is a priority.
I look forward to keeping shareholders up to date on the permitting process
and our broader strategy in due course."

 

 

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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