S6 Ep17: Midweek Takeaway with Mark Routh, CEO of Prospex Energy (AIM:PXEN) #PXEN

Phil Carroll and Kevin Hornsby are joined by Mark Routh CEO of Prospex Energy after the company announced the Q3 2023 operational update for Selva Field in Italy, where over 5.6 million standard cubic metres gas has been produced and sold to BP Gas Marketing. The PM-1 gas facility began production on July 4, 2023, and is currently running at around 62,000 scm per day, with aims to increase this to 80,000 . The produced gas is sold to BP Gas Marketing with prices recently increasing, resulting in a gross revenue of €1,937,072 for the quarter, €716,717 net to Prospex. Mark emphasises the achievement of stable production rates and cash flows, highlighting the company’s strategy to become a diversified energy producer in lower-risk, onshore European markets, supporting the European Energy sector with assets in Italy and Spain.Disclaimer & Declaration of InterestThe information, investment views, and recommendations in this podcast are provided for general information purposes only. Nothing in this podcast should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.