REG - Prospex Energy PLC - San Licence Award, Poland

Prospex EnergyAnnouncement

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RNS Number : 9384Y  Prospex Energy PLC  01 April 2026

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

 

1 April 2026

 

Prospex Energy plc

("Prospex" or the "Company")

 

San Licence Award, Poland

 

Prospex Energy plc (AIM: PXEN), the AIM quoted investing company focused on
European gas and power projects, is pleased to announce that further to the
announcement dated 24 March 2026, its wholly owned subsidiary PXEN Tatra Sp
z.o.o. ("PXEN Tatra") has been formally awarded the San onshore licence area
in Poland.  The administrative process for the award of the Dunajec licence
is ongoing, and Prospex will provide further updates in due course.

 

This first licence award is the next step in Prospex's strategic expansion
into a third European country. The San and Dunajec licences are located
onshore in southern Poland in areas with proven gas production and associated
infrastructure. With high prospectivity in the target geological horizons and
limited activity since 2000, Prospex intends to use modern imaging, evaluation
and development techniques to support resource discovery and development. The
Company is currently gathering historic information on both licences to assist
work programme planning.

 

Tom Reynolds, Prospex's CEO, commented:

"We are delighted to have officially been granted the San licence, formalising
our expansion into Poland and adding a third European jurisdiction to our
investment portfolio. San and Dunjac are located in one of the most prolific
gas regions in Poland and we are confident that our team's knowledge and
experience coupled with the benefit of modern exploration and development
techniques will enable us to unlock strategic energy resources at a time of
rising market demand in Europe. I look forward to providing further updates on
work programmes and our plans to unlock the commercial potential of the
licences."

 

Further Information

PXEN Tatra holds a 100% working interest in the San licence and subject to the
licence being formally granted, will hold a 100% working interest the Dunajec
licence. Both licences are located in southern Poland within the Carpathian
foredeep geological play, one of the most prolific gas plays in the country
where many gas fields have been discovered.

 

As an investment company, Prospex intends to introduce joint venture partners.
 

 

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:

 

 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 investing 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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