IN BRIEF: Prospex Energy annual loss narrows sharply in 2024

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Prospex Energy PLC - Europe-focused gas and power project investor - Pretax loss narrows to £31,824 in 2024 from £1.6 million in 2023. Prospex reports a gain on the revaluation of assets of £713,583 for 2024, compared to a loss of £469,709 in 2023. The company says it is ‘satisfied with the progress made during the year under review and the prospects for the future, with a number of significant activities to be undertaken in each area of operations, subject to regulatory approval.’ Looking ahead, Prospex expects drilling phase 2 at Viura-3A and Viura-3b wells in northern Spain to start in 2026.

Chief Executive Officer Mark Routh says: ‘We remain focused on both organic growth from our existing assets and the pursuit of new opportunities that meet our rigorous investment standards and look forward to a successful 2025.’

Current stock price: 5.02 pence each, down 0.8% on Tuesday afternoon in London

12-month change: down 23%

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