27th Sep 2021 14:04
Prospex Energy PLC - Essex-based investor in onshore and shallow offshore European gas and power projects - Joint venture with Tarba Energia SL sends application to Spanish authorities to convert Tesorillo exploration permit in southern Spain to exploitation concession. Prompted by Spain's Climate Change Act in May, law aims to reduce carbon emissions and promote development of renewable energy. Tarba sought specialist legal advice over fears the law didn't accept applications from existing permits to convert into an exploitation concession.
"Tarba's application is being considered by the regulators at a time of significantly rising prices for gas and LNG imports in Spain, which the board believes should work in the company's favour," says Prospex.
Current stock price: 3.80 pence
Year-to-date change: up 73%
By Josie O'Brien; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Prospex Eng