Prospex Energy Plc · LSE:PXEN
Prospex Energy — Investor Presentation (June 2025)
35 slides from Prospex Energy's investor presentation, June 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 | Q2 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 AIM-quoted Poland Clear growth trajectory 2 11 new gas wells to be drilled, at different stages of permitting company Stable markets and strong demand 3 Focus on natural gas on
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 PRODUCTION EXPECTED TO RESUME IN JUNE/JULY 2025 current development programme >90 BCF estimated gross recoverable reserves • Operated by HEYCO Energy Iberia (with 6.5 Bcf (0.18 Bcm) net to Prospex) • 81.26% owned by
Slide 7: Viura
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 IN PRODUCTION from 2 wells • Prospex owns a 100% indirect working interest, through Tarba Energía S.L. Several small to mid-sized gas fields typically 2-5 Bcf • Operated by Tarba Energía S.L. (which is 100% 8.1 MW power plant operates 24/7 (hybridised with solar panels) own
Slide 9: El Romeral
El Romeral Concessions 1, 2 and 3 • 5 wells for permitting, targeting 18.2 BCF • Expecting update from the regulator before year end • Rig will be mobilised to drill the first five wells as soon as the permits to drill are granted • Rig review for future mobilisation ongoing Enagas 26-inch pipeline
Slide 10: El Romeral
El Romeral Defined development and ESG initiatives ACTIVITY TIMINGS (post Q2 2025 indicative) Environmental Initiation consultation for 18 new infill gas wells, 5 permits to drill submitted Q2 2021 Project Apollo - Solar panels installed on power plant roof (payback in 4 years) Q3 2022 Environmental
Slide 11: 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 12: 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 13: Selva Malvezzi
Selva Malvezzi Concession area of 81 km2 Selva Northern Italy IN PRODUCTION ≈80,000 scm/d Selling gas to BP Gas Marketing delivered to the Well site & Processing Plant Near Bologna national grid operated by SNAM • Prospex owns a 37% interest • Operated by Po Valley Energy Ltd (ASX: PVE), which owns
Slide 14: 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 15: 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 16: 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/Q3 2025 • Focus area: inside foreland basins, which typically host tertiary Foreland/
Slide 17: Reserves and Resources
Reserves and Resources Net 2C Contingent Net Best Estimate Net 2P Reserves Resources Prospective Resources AIM: PXEN 17
Slide 18: Prospex Net Production – Q1 2025
Prospex Net Production – Q1 2025 Net production and revenues have more than doubled since December 2024 • The new Viura-1B well flowed over 500,000 scm/d (17.7 MMscfd) ≈ 72,000 scm/d (2.6 MMscfd) net to Prospex • Flow test gas sold on the market – January rate at ≈323,000 scm/d (≈ 11.7 MMscfd) ≈ 45,
Slide 19: 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 20: 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 – will be immediately placed on 2 new development wells at Viura production Five low-risk gas wells identified at Environmental Impact Assessment study is
Slide 21: Earliest Estimated Drilling Timelines
Earliest Estimated Drilling Timelines 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 BUSINESS DEVELOPMENT OPPORTUNITIES (INCLUDING SOLAR PROJECTS) EL ROMERAL INSTALLATION & PRODUCTION - 5 NEW ENVIRONMENTAL PERMITTING → 5 WELL DRILLING CAMPAIGN DRILLING[1] WELLS[1] INCREASE ELECTRICITY PRODUCTION REVENUES SPAIN DEVE
Slide 22: 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 23: Appendix
Appendix AIM: PXEN 23
Slide 24: Shares Issued and Options
Shares Issued and Options No Debt, No Warrants SHARES ISSUED OPTIONS PXEN Shares Issued 402,539,928 Options at Number % Name Shares in Issue % 5.00p 6,300,000 1.57% HEYCO Energy Group Inc. 41,666,668 10.35% 8.15p 3,600,000 0.89% Simon Chantler 24,540,643 6.10% 7.00p 4,200,000 1.04% Colin Wilson 20,0
Slide 25: 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 26: 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 27: 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 28: Viura
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 29: El Romeral
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 30: El Romeral
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 31: 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 32: 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 32
Slide 33: Selva Malvezzi
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 34: 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 35: www.prospex.energy
www.prospex.energy Email: info@prospex.energy AIM: PXEN 35