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

Phil Carroll and Kevin Hornsby and joined by Mark Routh, CEO of Prospex Energy after the company announced that it has completed the final payment on Convertible Loan Notes issued in September 2022, marking the company's transition to being debt-free. The repayment, totaling £175,239.83, covered the last of three quarterly installments and accrued interest. Originally valued at £500,000, these loans were provided by three individuals and convertible at 5.5p per share. CEO Mark Routh highlighted this achievement as a crucial step for Prospex, which now enjoys a stable financial base thanks to monthly income from gas production in Italy and electricity sales from its Spanish power plant. With a debt-free status, the company is exploring various European energy projects, focusing on natural gas, power, and renewable energy. Prospex is actively preparing for future expansions, including drilling projects in Italy and Spain, leveraging surplus funds for investment in potential opportunities.


Disclaimer & Declaration of Interest

The information, investment views, and recommendations in this podcast are provided for general information purposes only. Nothing in this podcast should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.