Midweek Takeaway with Mark Routh, CEO of Prospex Energy (AIM:PXEN) #PXEN

Phil Carroll and Kevin Hornsby are joined by Mark Routh CEO of Prospex Energy after the company announced the Q3 2023 operational update for Selva Field in Italy, where over 5.6 million standard cubic metres gas has been produced and sold to BP Gas Marketing. The PM-1 gas facility began production on July 4, 2023, and is currently running at around 62,000 scm per day, with aims to increase this to 80,000 . The produced gas is sold to BP Gas Marketing with prices recently increasing, resulting in a gross revenue of €1,937,072 for the quarter, €716,717 net to Prospex. Mark emphasises the achievement of stable production rates and cash flows, highlighting the company’s strategy to become a diversified energy producer in lower-risk, onshore European markets, supporting the European Energy sector with assets in Italy and Spain.

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