11th Feb 2021 13:44
Prospex Energy PLC - exploration investment company with core investments in Spain, Italy, and Romania - Expects acquisition of 50% interest in Spanish gas production and power station operation El Romeral to complete on February 28 instead of January 31. Notes it is acquiring El Romeral, which includes three producing wells that supply gas, through its own network to a 100% project-owned 8.1 megawatts power station via Tarba Energia. Prospex owns a 50% interest in Tarba B shares, with partner Warrego Energy Ltd owning the remaining stake. Says the new completion date is a result of Tarba making slower than anticipated progress during the period following its Christmas break.
"Tarba, which will assume the day-to-day management and control of El Romeral following completion, is utilising the extended time frame to continue its preparatory work so that the operational transfer will go smoothly," says Prospex.
Current stock price: 1.90 pence, down 5.0% on Thursday
Year-to-date change: down 14%
By Zoe Wickens; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Prospex Eng