Prospects for Prospex Energy look good to become a European focused energy player
“…We’re not just a power station in Spain. There’s also the Tesorillo project which is potentially huge with 800 bcf of gas attributed in prospective resources…”
Being a UK-listed, Europe-focused company in a clunky post-Brexit universe isn’t presenting any challenges to management at Prospex Energy.
They’re experienced in far less hospitable locations and historically accustomed to challenges imposed by non-Blighty based bureaucrats.
But, says Chief Executive and Managing Director Ed Dawson, the bureaucrats in Italy and Spain are working through the Covid pandemic and not interfering with progress in commerce. Ministerial approval for the acquisition of a 49.9% interest in El Romeral the integrated gas production and power station operation in southern Spain came at the end of 2020.
And Dawson talks about the metaphorical bike ride across the Alps and the downhill leg towards production with first gas expected at the Selva field in Italy in the first half of 2021.
Ed talks Sarah Lowther through the anticipated highlights of the year and the future growth potential at El Romeral which he says has a lot more gas in the wider production area with additional well defined prospects.
Access Prospex Energy’s Corporate Presentation from Q3 2020 here
Click here to access the company’s interim report 2020
The author was remunerated but does not hold shares in the company
