Mark Routh of Prospex Energy discusses the approval of El Romeral well workover & corporate actions

Mark Routh CEO of Prospex Energy #PXEN discusses the approval of El Romeral well workover & corporate actions.

Prospex Energy PLC, the AIM quoted investment company focused on European gas and power projects, is pleased to announce that its joint venture company Tarba Energía S.L. has fully approved the budget for well intervention work at its gas to power project at El Romeral in Southern Spain. Tarba is the operator of the plant. Upon success, the well workover has the potential to increase gas production by up to 15,000 cubic metres per day and allow the subsequent start-up of a second generator to double electrical output.

Highlights

- Gross budget of €89,000 fully approved by Tarba

- Tarba is in advanced stages of selecting contractors

- Contract awards are expected within two weeks

- Chemicals for the workover have been ordered by Tarba in anticipation of contract awards

- The workover is scheduled for the week commencing 18 October 2021

About Prospex Energy
AIM-quoted Prospex Energy plc is building a sizeable gas production and electricity generation investment portfolio focused on high impact, late stage onshore European opportunities. With a growing portfolio of interests and an expert management team with a proven track record of generating significant value in the sector, Prospex is well positioned to become a European focused energy player centred around natural gas, the transition fuel for a carbon free future.