REG - Prospex Energy PLC - Dunajec Licence Award, Poland

Prospex EnergyAnnouncement

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RNS Number : 3840B  Prospex Energy PLC  22 April 2026

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

 

22 April 2026

 

Prospex Energy plc

("Prospex" or the "Company")

 

Dunajec 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 1 April 2026, its wholly owned subsidiary PXEN Tatra Sp
z.o.o. ("PXEN Tatra") has been formally awarded the Dunajec onshore licence
area in Poland.

 

Dunajec is the Company's second licence award in Poland, following the award
of the San licence announced on 1 April 2026. The licences are located onshore
in southern Poland in areas with proven gas production and associated
infrastructure. With high prospectivity across the targeted 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 historical data across
both licences to inform and prioritise its work programme planning.

 

The Dunajec licence also includes a shallow undeveloped oil discovery with
near-term commercial potential, where the Company plans to assess the
opportunity for early development.

 

Tom Reynolds, Prospex's CEO, commented:

"The formal award of Dunajec means that Prospex has been awarded both licences
it applied for in Poland  which, together with San, provides  highly
attractive prospectivity. Both licences are located within one of  Poland's
most prolific gas regions, with  Dunajec also presenting near-term
development potential through the Mniscow undeveloped oil discovery.

 

I am excited about the opportunity to apply our technical expertise together
with modern exploration and development techniques to unlock strategic energy
resources on this acreage. I look forward to providing further updates on work
programmes and our plans to unlock the commercial potential of the licences."

 

Background information on Dunajec

Multiple discovery wells drilled in 1966 identified a 13m oil pay within
fractured carbonate at approximately 600m depth, with a historically mapped
oil-water contact indicating around 2 mmbbl of OOIP. The Mniszów-3 well
confirmed a 13m oil-saturated interval and flowed at 45 bbl/d following a
cased hole acidised test, but the field remained undeveloped due to its
relatively small size and thinner reservoir compared to the nearby Grobla
(1962) and Pławowice (1963) fields.

 

Further Information

PXEN Tatra holds a 100% working interest in both the San and Dunajec licences.
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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