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

Season 7, Episode 31,   Mar 27, 11:25 AM

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.

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