Viura Field - Planned Reinstatement of Production

Prospex Energy plc / Index: AIM / Epic: PXEN / Sector: Oil and Gas

9 June 2025

Prospex Energy plc

("Prospex" or the "Company")

Viura Field Work Over - Planned Reinstatement of Production

Prospex Energy plc (AIM: PXEN), the AIM quoted investing company focused on European gas and power projects, is pleased to inform shareholders that it has been advised by the Operator of the Viura field, HEYCO Energia Iberia S.L.  ("HEI" or the "Operator"), that the workover rig to repair a leak in the completion tubing in the Viura-1B well is currently on site and operational.  The Operator has also advised that the reinstatement of production from the Viura-1B well is therefore imminent.  The Viura‑1B well was shut in during April-2025 owing to a leak in the completion tubing which required a rig intervention to reinstate production. 

Prospex owns 7.24% of the Viura field through its ownership of 7.5% of HEI.  Prospex is accruing 14.47% of the production income from the Viura gas field until payback of its capital investment (expected to be ≈£8 million) plus the accrued 10% p.a. interest thereon.

Mark Routh, Prospex's CEO, commented:

"This is good news from HEYCO that the planned workover is on target to deliver the resumption of production from the Viura field later this month.

"I will continue to keep shareholders updated with regular progress reports as the well interventions proceed."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

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