Business
Prospex Advances European Growth Strategy
Prospex Energy PLC announced that its applications for two onshore license areas in Poland, named 'San' and 'Dunajec', were published in the official EU Journal on October 14, 2025. The applications, submitted through its subsidiary PXEN Tatra Sp z.o.o., are for areas with proven gas production and high potential for new reserves. A 90-day application window follows the publication, requiring interested entities to submit concession applications to Poland's Ministry of Climate and Environment. PXEN Tatra will initially have a 100% working interest and intends to establish joint ventures if the applications are successful. The administrative procedure to award the licenses is expected to take approximately three months, with the earliest award date in April/May 2026. Disclaimer*
About this update from Prospex Energy Plc
[{"type":"text","content":"\n\nProspex Energy plc / Index: AIM / Epic: PXEN / Sector: Oil and Gas\n \n22 October 2025\n \nProspex Energy plc\n(\"Prospex\" or the \"Company\")\n \nProspex Advances European Growth Strategy\nwith Polish Licence Applications Published in EU Gazette\n \nProspex Energy plc (AIM: PXEN), the AIM quoted investing company focused on European gas and power projects, is pleased to announce that its applications for two onshore licence areas in Poland were published in the official EU Journal on 14 October 2025.\n \nProspex, through its wholly owned subsidiary PXEN Tatra Sp z.o.o. has applied for two licence areas onshore in southern Poland which have been named 'San' and 'Dunajec'. The projects meet the Company's stringent investment criteria, being areas which have proven gas production, high potential prospectivity in the targeted geological horizons, high potential for new reserves to be unlocked and can be brought onstream within two to three years.\n \nUnder EU laws, the application to licence open areas for hydrocarbon exploration and exploitation must be subject to a competitive process. The EU Journal announcement provides information about the opportunity to make a competitive offer for the defined exploration areas. A 90-day application window now follows the publication, where interested entities must submit concession applications to Poland's Ministry of Climate and Environment. Only companies that have pre-qualified to apply for licences may make such submissions. Prospex has already pre-qualified to apply for onshore open acreage hydrocarbon exploration licences in Poland. (Ref RNS_4_October_2024.)\n \nThe bidding process is fully confidential and the selection criteria are defined. If competitive applications are received the ultimate selection to award is determined by the regulator. There is no opportunity to improve an offer or argue a specific case.\n \nFull details of the proposed work programmes and the licence areas remain confidential until such time as the Ministry awards the licences. The 90-day application window ends in January 2026. Then the administrative procedure to award the licences will take approximately three months meaning that the earliest that the licences can be awarded is April/May 2026. I...