25th Sep 2020 11:07
Prospex Energy PLC - exploration investment company with core investments in Spain, Italy, and Romania - Reports widened pretax loss for six months ended June 30 of GBP1.0 million compared with GBP655,876 loss the year before. This results from a GBP644,949 loss on revaluation of investments and loans versus just GBP207,999 the prior year. Predicts annual production could reach 7.8 million standard cubic metres net to Prospex in 2021, which would translate into a significant revenue stream even at current gas. Covid-19 may impact exact timings, but the roadmap for a highly cash flow generative investment company focused on cleaner natural gas and power projects remains very much in place.
Current stock price: 1.90 pence
Year-to-date change: up more than 100% from 0.13p on December 31.
By Anna Farley; annafarley@alliancenews.com
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