Prospex Energy (PXEN) H1 2024 earnings summary
Event summary combining transcript, slides, and related documents.
H1 2024 earnings summary
24 Sep, 2025Executive summary
Investment portfolio projects operated on a fully self-funded basis, with no serious health, safety, or environmental incidents in Italy and Spain.
Acquisition of a 7.2365% interest in the Viura gas field in Spain, adding a third onshore producing asset.
Ten-year extension granted for El Romeral gas concessions in Spain and a 12-month extension to the Selva Malvezzi gas supply contract in Italy.
Actively advancing permitting for new wells in both Spain and Italy to increase production capacity.
Financial highlights
Net loss after taxation for H1 2024 was £275,120, a significant improvement from H1 2023 loss of £888,473.
All interest-bearing debt and accrued interest repaid; company is now debt-free.
Cash and cash equivalents at 30 June 2024 were £10,991, with €794,762 held in non-consolidated investments and joint ventures.
Administrative expenses increased to £521,209 in H1 2024 from £461,322 in H1 2023.
Basic and diluted loss per share for H1 2024 was (0.08)p, compared to (0.31)p in H1 2023.
Outlook and guidance
Focus remains on growing the asset portfolio and income streams by increasing productivity of existing assets and seeking new investments.
Ongoing development at Viura with one well being drilled and two more planned for next year.
Applications submitted for five new wells at El Romeral and preparations underway for four new wells at Selva Malvezzi.
Latest events from Prospex Energy
- 2024 saw a sharp reduction in losses, asset growth, and a strengthened, debt-free balance sheet.PXEN
H2 202419 Feb 2026 - Production growth and expansion in three countries, with drilling funded by rising income.PXEN
Investor Update19 Jan 2026 - Viura repairs delay production until June, but growth and funding remain on track across all assets.PXEN
Investor Update7 Jan 2026 - All resolutions passed; growth, funding, and shareholder concerns addressed in detail.PXEN
AGM 20256 Jan 2026 - Viura restart delayed, Selva steady, El Romeral offline but compensated, Poland expansion ongoing.PXEN
Investor Update6 Jan 2026 - Losses narrowed and asset value grew as new investments and premium gas sales drive future upside.PXEN
H1 202524 Sep 2025