Doc Chats Over Lunch With Prospex Oil & Gas
We caught up with Ed Dawson MD of Prospex Oil & Gas to talk through the recently released news from the company. Doc and Ed met for lunch to talk about the recent news coupled to the firm’s outlook for 2019, Prospex clearly has a roster of high impact assets however we learn more about the companies outlook and strategy.
During the interview we look at the gravity of the recent news which in essence will throw off-net revenue to Prospex of £2.5m p/y on Selva alone, the business alludes to be in incredible shape given the current cash flow from Romania along with potential future cash flow in Italy, feel free to join the duo in the latest audio interview.
Prospex non-executive Chairman, Bill Smith, said, “Our 2.26bcf share of the Selva Gas Field’s reserves represents another first for Prospex. While bringing the Bainet gas field in Romania online generated our first production and revenues in 2018, Selva is the first time that valuable reserves have been assigned to one of our projects by an independent third party. Not only is this a major milestone for the Company, it provides Prospex with significant asset backing, particularly when compared to our current market valuation of approximately £3.3m.
We spoke to Ed on Thursday afternoon to run the rule over the company.