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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Prospex Energy Plc | LSE:PXEN | London | Ordinary Share | GB00BMFZVZ53 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.15 | -2.42% | 6.05 | 6.00 | 6.10 | 6.20 | 6.05 | 6.20 | 629,647 | 13:28:16 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 0 | 7.14M | 0.0232 | 2.61 | 18.59M |
From May 2023 to May 2024
By Ian Walker
Shares of Prospex Energy rose 15% in early trading after the company said that production has restarted at the Podere Maiar-1 gas facility of the Selva Field in northern Italy after Po Valley Energy completed ramp-up and commissioning.
Shares at 0715 GMT were up 0.85 pence at 6.60 pence.
The London-listed energy investment company said production at PM-1 has restarted and is forecast to reach 72,000 standard cubic meters a day until all data analysis is complete.
It said gas produced during the ramp-up period is estimated at 1.8 million standard cubic meters, all of which has been sold to BP Gas Marketing under the 18-month supply agreement.
"The final transition to ongoing production at PM-1 is under way which marks a major milestone for both Po Valley and Prospex. The ongoing production from PM-1 is an outstanding platform from which the joint venture can actively pursue the exploration and development of nearby lookalike wells," Chief Executive Mark Routh said.
Prospex has a 37% working interest in the site, with the rest held by PO Valley Energy.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 07, 2023 03:46 ET (07:46 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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