London · Delayed Price · Currency is GBP · Price in GBX Prospex Energy Earnings Call Transcripts
Fiscal Year 2026
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A new CEO outlined a disciplined, value-driven strategy focused on European gas assets, emphasizing non-dilutive funding and active asset management. Key projects in Italy, Spain, and Poland are advancing toward major milestones, with 2027 set for significant drilling activity.
Fiscal Year 2025
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Production at key assets is temporarily impacted by operational delays, but significant reserves and future drilling plans underpin long-term value. Management is increasing transparency with quarterly updates and remains focused on European gas growth, viewing the company as materially undervalued.
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The meeting approved all resolutions, including director and auditor reappointments and share allotment authorities. Management addressed shareholder concerns on dilution, communications, and growth, highlighting asset acquisitions, imminent production restarts, and strategic plans for expansion and funding.
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Production at Viura is paused for repairs, with resumption expected in June, while other assets in Spain and Italy continue to perform and expand. Funding for repairs and new drilling is expected from existing income, with debt and farm-in options available if needed. Management remains focused on organic growth and transparent shareholder communication.
Fiscal Year 2024
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Assets in Italy and Spain are producing, with Viura set to come online soon and expansion into Poland underway. Drilling campaigns are planned for 2025, funded mainly from production income, while management explores further growth and financing options.