Business
Letter to Shareholders
Letter to Shareholders.
About this update from Prospex Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8564O\n Prospex Energy PLC\n 13 October 2021\n \n \n \n \n Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas\n \n \n \n \n \n 13 October 2021\n \n \n \n \n \n Prospex Energy PLC ('Prospex' or the 'Company')\n \n \n \n \n \n Letter to Shareholders\n \n \n \n Prospex Energy PLC, the AIM quoted investment company (AIM:PXEN) focused on European gas and power projects, announces that Mark Routh, Prospex's CEO, has written to all shareholders to re-confirm the Board's plans and vision for Prospex Energy.\n \n His letter has been pasted below and can also be viewed on the Prospex Energy website at: https://bit.ly/3atY8dF.\n \n Mark Routh commented:\n \n To all Prospex Energy Shareholders.\n \n I am writing to you all to re-confirm the Board's plans and vision for Prospex Energy which we believe will achieve the common aim of growing the Company and increasing value for all shareholders. Now that the requisitioned general meeting is behind us, we need to move forward at pace. As a Board we are determined to grow Prospex with an aim to become an operator focussing on development and production gas assets across Europe at a time of unprecedentedly high gas and electricity prices. We have also reviewed our working practices, consulting with our advisers, to improve our corporate governance.\n \n Forward-plan and strategy\n Prospex is focused on upstream gas developments & production and electricity generation in North-West Europe.\n \n We intend to expand our portfolio, which includes our currently producing gas-to-power facility at El Romeral and our advanced stage gas interests, with further gas-to-power projects and other suitable energy projects.\n \n The Company will target appraisal and development assets not exploration. We will be evaluating assets already in production for acquisition at fair market value. We are now underway with optimising the assets already in the portfolio.\n \n Deal Activity \n Prospex's current portfolio is a springboard for further growth opportunities. Organic growth is happening and new investments are being considered.\n \n All our assets are onshore. We would however look at offshore gas projects but access to infrastructur...