Prospex Energy Plc · LSE:PXEN
Prospex Energy — Shareholder Meeting (June 2026)
17 slides from Prospex Energy's shareholder meeting presentation, June 2026
Slide 1: AGM, June 2026 – Presentation to shareholders
AGM, June 2026 Presentation to shareholders
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: Corporate investment case
Corporate investment case Prospex offers exposure to the following investment positives: • Extrinsic – rising tides which lift all boats • Real assets – commodities which hold value in currency terms during periods of inflation • Growing energy demand driven by digital infrastructure growth • Energy
Slide 4: Full potential analysis
Full potential analysis The purpose of this analysis is to identify an upper value range for our assets and portfolio This provides a pathway to maximising value Where relevant, the historic investment cost and carry value for each asset is presented alongside the full potential value assessment. As
Slide 5: Asset portfolio
Asset portfolio Multi-jurisdictional portfolio of assets providing strategic exposure to the European energy market country diversification: • Po Valley Italy, 37% non-operated interest in the Selva Malvezzi concession • Viura, 7.24% non-operated interest in a high potential asset, held through a 7.
Slide 6: Selva Malvezzi, Po Valley, Italy
Selva Malvezzi, Po Valley, Italy • Surface well locations and subsurface targets identified for four new wells to be drilled on the concession • Drilling permits lodged with relevant authorities Selva North (9 Bcf) • Environmental update to be lodged Q2 2026 (gas) • Seismic processing expected to be
Slide 7: Selva, full potential
Selva, full potential Investment history – costs repayment & carry value (GBP) Full potential broken down by activity (EUR) ROUTE Increasing production and reserves through drilling programme, de-risked by recent seismic TO Leverage planned CPR to deliver debt funding, potentially reducing project e
Slide 8: El Romeral, Andalucia, Spain
El Romeral, Andalucia, Spain • Applications lodged with regulators to drill 5 wells and connect to export grid for direct export • Near term activity is focused on obtaining the permits and identification of farm-in partner • Since installation of new transformer in Feb ’26 generation revenue has st
Slide 9: El Romeral - full potential
El Romeral - full potential Investment history – costs repayment & carry value (GBP) Full potential broken down by activity (EUR) ROUTE Increasing production and reserves through planned 5 well drilling programme Provide alternative gas sales pathway through direct connection to Enegas natural gas g
Slide 10: Viura, Rioja, Spain
Viura, Rioja, Spain • Dynamic modelling work is now informing development scenarios Wellhead satellite • Next phase of investment likely to include solutions to water handling Viura plant and drilling 3A and 3B wells • Q1 key financials (cash basis) Gas Production (MWhr) 112,000 Condensate (bbl) 2,8
Slide 11: Summary of Prospex ownership structure
Summary of Prospex ownership structure HEI owns 96.4865% of Viura Prospex owns 7.5% of HEI through ownership of 15% of HEI ‘B’ shares Until dividend distribution is declared: • Net cash flow within HEI is retained to fund corporate costs and future capex. Prospex does not receive a share of Viura ca
Slide 12: Viura - full potential
Viura - full potential Investment history – costs repayment & carry value (GBP) Full potential broken down by activity1 (EUR) ROUTE Increasing production and cashflow through additional well stock TO Maximising economic reserve recovery against existing infrastructure VALUE Manage water handling on-
Slide 13: Mniszów, Dunajec licence, Poland
Mniszów, Dunajec licence, Poland IHS/PGI data source • Prospex has reviewed the historic database and identified an initial view of potential in place and recoverable barrels • Updated estimate1 of STOIIP of 13.0 mmbbl • Updated estimate1 of Recoverable Reserves 3.7mmbbl • A 15 well programme has be
Slide 14: Mniszów - full potential
Mniszów - full potential Production build, three well programmes Full potential broken down by activity (EUR) ROUTE Prove “factory model” with first well & completion design & generate additional free cashflow TO 100% ownership position allows introduction of partnership capital through farm-out VAL
Slide 15: Exploration potential
Exploration potential Tesorillo Permit, Southern Spain – high potential asset San and Dunajec licences, Poland – awarded Q2 2026 Licences currently suspended. Key activity is to gain Both licences drill-or-drop, offer significant Miocene gas permission to re-start activity in line with 2021 applicat
Slide 16: Corporate roll-up – full potential
Corporate roll-up – full potential Full potential broken down by asset (€ millions) Prospex has an enviable portfolio of growth opportunities relative to its current market cap There is a clear pathway on each asset to deliver value growth The analysis shows the potential of the assets and their rel
Slide 17: Looking forward
Looking forward Communications • Going forward there will more short updates about the assets and commentary on market conditions Transparent, open • Series of focussed, single-asset “deep dives” over coming months communications Key milestones • Romeral permits • Selva Seismic & CPR Focus on what w