Dunajec Licence Award, Poland

Prospex Energy plc / Index: AIM / Epic: PXEN / Sector: Oil and Gas

22 April 2026

Prospex Energy plc

("Prospex" or the "Company")

Dunajec Licence Award, Poland

Prospex Energy plc (AIM: PXEN), the AIM quoted investing company focused on European gas and power projects, is pleased to announce that further to the announcement dated 1 April 2026, its wholly owned subsidiary PXEN Tatra Sp z.o.o. ("PXEN Tatra") has been formally awarded the Dunajec onshore licence area in Poland.

Dunajec is the Company's second licence award in Poland, following the award of the San licence announced on 1 April 2026. The licences are located onshore in southern Poland in areas with proven gas production and associated infrastructure. With high prospectivity across the targeted geological horizons and limited activity since 2000, Prospex intends to use modern imaging, evaluation and development techniques to support resource discovery and development. The Company is currently gathering historical data across both licences to inform and prioritise its work programme planning.

The Dunajec licence also includes a shallow undeveloped oil discovery with near-term commercial potential, where the Company plans to assess the opportunity for early development.

Tom Reynolds, Prospex's CEO, commented:

"The formal award of Dunajec means that Prospex has been awarded both licences it applied for in Poland which, together with San, provides highly attractive prospectivity. Both licences are located within one of Poland's most prolific gas regions, with Dunajec also presenting near-term development potential through the Mniscow undeveloped oil discovery.

I am excited about the opportunity to apply our technical expertise together with modern exploration and development techniques to unlock strategic energy resources on this acreage. I look forward to providing further updates on work programmes and our plans to unlock the commercial potential of the licences."

Background information on Dunajec

Multiple discovery wells drilled in 1966 identified a 13m oil pay within fractured carbonate at approximately 600m depth, with a historically mapped oil-water contact indicating around 2 mmbbl of OOIP. The Mniszów-3 well confirmed a 13m oil-saturated interval and flowed at 45 bbl/d following a cased hole acidised test, but the field remained undeveloped due to its relatively small size and thinner reservoir compared to the nearby Grobla (1962) and Pławowice (1963) fields.

Further Information

PXEN Tatra holds a 100% working interest in both the San and Dunajec licences. Both licences are located in southern Poland within the Carpathian foredeep geological play, one of the most prolific gas plays in the country where many gas fields have been discovered.

As an investment company, Prospex intends to introduce joint venture partners.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

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For further information visit www.prospex.energy or contact the following:

Notes

Prospex Energy PLC is an AIM quoted investing company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production. The Company's strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then applying low-cost re-evaluation techniques to identify and de-risk prospects. The Company will rapidly scale up gas production in the short term to generate internal revenues that can then be deployed to develop the asset base and increase production further.