Prospex Oil and Gas (GB:PXEN) has released an update.
Prospex Energy PLC reports steady production and revenue growth from its Selva Malvezzi Production Concession in Italy, with Q1/Q2 2024 gross production reaching 20.61 MMscm and generating €2.6 million in revenue. The company benefits from a favorable regulatory shift in Italy, which has lifted certain exploration and extraction restrictions, enabling more cost-effective and lower-risk drilling opportunities. These developments, in conjunction with high gas prices, position Prospex to potentially increase future cash flow by advancing ambitious drilling programs.
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