Prospex Energy Plc · LSE:PXEN
Prospex Energy — Investor Presentation (December 2025)
33 slides from Prospex Energy's investor presentation, Dec 1, 2025
Slide 1: Revenue generative energy investor unlocking potential in European natural gas assets
Revenue generative energy investor unlocking potential in European natural gas assets Corporate Presentation | Q4 2025 AIM: PXEN 1
Slide 2: Disclaimer
Disclaimer This Presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitm
Slide 3: Overview
Overview Diversified portfolio 1 Three producing, non-operated, revenue generating, onshore gas investments Applications in Clear growth trajectory AIM-quoted Poland 2 11 new gas wells to be drilled, at different stages of permitting Targeted in the next 12-18 months (2 already permitted on Viura) c
Slide 4: Board and Management
Board and Management Focused on maximising returns from our investments while seeking low- risk growth opportunities to generate shareholder value Mark Routh Richard Jameson Bill Smith Andrew Hay Alasdair Buchanan CEO COO Non-Exec Chairman Independent Independent Non-Exec Director Non-Exec Director
Slide 5: Market Demand
Market Demand Global gas demand reached a new all-time high in 2024 and is expected to expand further in 2025 High gas Increased Energy Lower carbon prices demand security footprint Geopolitical factors amplify the In 2025, European gas Natural gas consumption Natural gas production has a increased
Slide 6: Viura Gas Field
Viura Gas Field Northern Spain • Prospex owns a 7.24% interest by funding 15% of the RESUMPTION OF PRODUCTION ON 17 OCTOBER 2025 current development programme • Well V-1B now producing at a stabilised flow rate of more than 190,000 scm/d (≈27,000 scm/d net to PXEN) with vastly • Operated by HEYCO En
Slide 7: Viura Project Schematic
Viura Project Schematic 2010 • Discovered in 2010 with well Viura-1(TD 3,788m) • Tested with a HPHT reservoir P>500bars • Delivered max. flow rate up to 500,000scm/d • Placed into production at 110,000scm/d 2013 • Viura-3 drilled nearby in 2013, also giving excellent gas shows • 3D seismic survey co
Slide 8: El Romeral
El Romeral Southern Spain NORMALLY IN PRODUCTION from 2 wells • Prospex owns a 100% indirect working interest, through Tarba Energía S.L. Currently shut-in awaiting delivery of replacement transformer • Operated by Tarba Energía S.L. (which is 100% Several small to mid-sized gas fields typically 2-5
Slide 9: El Romeral
El Romeral Concessions 1, 2 and 3 • 5 wells for permitting, targeting 18.2 BCF • Environmental Impact Assessment documentation now with the regulator for final approvals process • Rig will be mobilised to drill the first five wells as soon as the permits to drill are granted • Rig review for future
Slide 10: Tesorillo
Tesorillo Comprises two petroleum exploration licences, the Tesorillo and Southern Spain Ruedalabola Permits, which cover 38,000 ha in total EXPLORATION PROJECT Large mid case prospective resources (830 Bcf) • Prospex owns a 100% indirect working interest through Tarba Energía S.L. • Operated by Tar
Slide 11: Tesorillo
Tesorillo Low Risk Exploration Licence Activity • Contains the Almarchal-1 gas discovery well (drilled • EIA Initiation Document submitted Q4 2021 & in 1957) which logged 212m of net gas pay awaiting feedback • Multiple DST’s flowed gas to surface* • Exploration Permit currently suspended (voluntary
Slide 12: Selva Malvezzi
Selva Malvezzi Concession area of 81 km2 Selva Northern Italy IN PRODUCTION ≈80,000 scm/d Selling gas to Hera Trading at a premium to the TTF Delivered to the national grid operated by SNAM Well site & Processing Plant Near Bologna • Prospex owns a 37% interest • Operated by Po Valley Energy Ltd (AS
Slide 13: Selva Malvezzi
Selva Malvezzi Gas Production ROUTE TO PRODUCTION Selva Gas Pipeline Route Dec 2017 Podere Maiar-1 well (PM-1) drilled Feb 2019 Preliminary Production Concession Jan & Nov 2020 Technical environmental approval July 2022 Production Concession granted by the Regulator Feb 2023 12-month environmental b
Slide 14: Selva Malvezzi
Selva Malvezzi Production Upside Surface well locations and subsurface targets 4 wells being permitted, targeting 88 BCF (Gross) identified for four new wells to be drilled on the concession: Selva North and Selva South • Stratigraphic pinch-outs in the same style as Podere Maiar-1 Selva North • CGG
Slide 15: Poland
Poland C B LICENCE APPLICATIONS Prospex has pre-qualified to apply for licences onshore in Poland Applications have been submitted at 100% Working Interest initially A If successful, licences could be awarded by Q2 2026 • Focus area: inside foreland basins, which typically host tertiary Foreland/For
Slide 16: Reserves and Resources
Reserves and Resources Net 2C Contingent Net Best Estimate Net 2P Reserves Resources Prospective Resources AIM: PXEN 16
Slide 17: Italy Strong growth dynamics
Italy Strong growth dynamics €2.6 >€4 4 new million million wells Projected net post-tax post- The 2024 net annual post- Applications for the royalty cashflows per year tax, post-royalty cashflow environmental and drilling based on Prospex’s 37% figure, according to PXEN permits have been interest,
Slide 18: Spain Poised for growth
Spain Poised for growth Viura is a major new project Bought in at the right time, significantly increased reserves To be drilled on Viura in 2026/2027 – will be immediately placed on 2 new development wells at Viura production Five low-risk gas wells identified at Environmental Impact Assessment stu
Slide 19: Targeted Earliest Drilling Timelines
Targeted Earliest Drilling Timelines 2025 2026 2027 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 BUSINESS DEVELOPMENT OPPORTUNITIES (INCLUDING SOLAR PROJECTS & BATTERY ENERGY STORAGE SYSTEMS) EL ROMERAL FINALISE LONG-LEAD ITEMS → 5 WELLS EIA PERMITS[1] RIG PROCUREMENT & MOBILISATION DRILLING[1] INSTALL INCREASE GAS PROD
Slide 20: Unique Investment Proposition
Unique Investment Proposition Stable Debt free and Low Cash production no warrants overheads accumulating income From 3 onshore gas Solid foundation for Comfortably For re-investment into projects in two stable value uplift covered by the three production European nations production income concessio
Slide 21: Appendix
Appendix AIM: PXEN 21
Slide 22: Shares Issued and Options
Shares Issued and Options No Warrants SHARES ISSUED OPTIONS PXEN Shares Issued 428,710,121 Options at Expiry Number % Name Shares in Issue % 5.00p 17/03/2027 6,300,000 1.47% HEYCO Energy Group Inc. 46,166,668 10.77% 8.15p 22/09/2027 3,600,000 0.84% Simon Chantler 26,129,533 6.09% 12.25p 27/02/2028 3
Slide 23: The Board
The Board Mark Routh Mark is a Petroleum Engineer with more than 40 years of experience in the oil & gas industry. He has an MSc in Petroleum Engineering. He spent eight years as CEO/Chairman of AIM quoted IOG plc and seven years as Chairman/NED of Warrego Energy Ltd. Founded CH4 CEO & Managing Dire
Slide 24: Executive Management Team
Executive Management Team Mark Routh Mark is a Petroleum Engineer with more than 40 years of experience in the oil & gas industry. He has an MSc in Petroleum Engineering. He spent eight years as CEO/Chairman of AIM quoted IOG plc and seven years as Chairman/NED of Warrego Energy Ltd. Founded CH4 CEO
Slide 25: Technical Team
Technical Team Carlos Venturini Carlos is a Petroleum Geoscientist (BSc) with an MSc in structural geology and near 40 years' experience in G&G, interpretation and prospect generation gained with Schlumberger, ENI, Sipetrol, and his own Libya-based consultancy working for Petrobras, GDF and OMV Chie
Slide 26: Viura Geology
Viura Geology • The Upper Cretaceous reservoir (Utrillas formation c.150m thick) is made of fan-delta sandstones with interlayered shales with top of the reservoir @3,550 m depth TVDGL • It has a moderate matrix porosity of 5-8% and permeability of 11-32 mD, possibly enhanced by fractures, all effic
Slide 27: El Romeral Seismic Processing
El Romeral Seismic Processing • Full reprocessing of El Romeral 2D Seismic using modern, broad bandwidth processing flow and new methods for noise attenuation • Resulted in a significant uplift of imaging quality • Project was delivered on time and in budget • Re-interpretation is now complete, and
Slide 28: El Romeral Prospect de-risking
El Romeral Examining the seismic amplitude with increasing angle, at gathers Prospect de-risking The 2022 interpretation of re-processed seismic data resulted in a list of 20 targets In 2023, these targets were further de-risked by examining AVO anomalies at the pre-stack level with the help of a sp
Slide 29: El Romeral
El Romeral Gas ready for development 11 low risk prospects 2 undeveloped discoveries Fully owned local Capacity at plant for certified by CPR* from the 1980s pipeline network more gas ▪ BEST TECHNICAL CASE SHOWN IN SOLID COLOUR ▪ LOW AND HIGH CASES SHOWN ON EITHER SIDE ▪ PROVEN UNDEVELOPED DISCOVERI
Slide 30: Selva Malvezzi
Selva Malvezzi Well site & Processing Plant Near Bologna Nitrogen, Compressed air and water tanks Separator and Control Panel Dehydration Columns PM-1 Wellhead AIM: PXEN 30
Slide 31: Selva Malvezzi Timeline
Selva Malvezzi Timeline 2022 2023 2024 2025 Permitting for further drilling on Acquire, process and interpret ‘Intesa’ sent by MiTE[1] to the Selva 37% development activity the concession - Selva North, 3D survey data to finalise drilling Emilia Romagna Regional & costs (started in Q2 2022) Selva So
Slide 32: Strong Management Unlocking Shareholder Value
In Summary • Secured reserves/ • Diversified • Focus on mature • Highly Investment Case Strong Management Unlocking Shareholder Value European Focussed commercial portfolio markets with experienced team revenue assembled existing of technically led generation infrastructure professionals • Risk mana
Slide 33: www.prospex.energy
www.prospex.energy Email: info@prospex.energy AIM: PXEN 33
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