Welcome to Prospex

AIM-quoted Prospex Energy plc is building a sizeable gas production and electricity generation investment portfolio focused on high impact, late stage onshore European opportunities. With a growing portfolio of interests and an expert management team with a proven track record of generating significant value in the sector, Prospex is well positioned to become a European focused energy player centred around natural gas, the transition fuel for a carbon free future.

About Us

Strategy

Prospex is building a sizeable gas production and electricity generation investment portfolio, focused on high impact onshore European opportunities.

Utilising the team’s proven track record and global experience, the Company invests in low capex opportunities in Europe’s energy sector with a particular preference for late stage, drill-ready gas exploration projects; existing fields with significant reworking potential; or failed exploration targets where new ideas and the latest technology can be applied. Once identified and acquired, the Company seeks to create tangible value within a 12-month period in order to maximise the impact of its capital and balance its risk-reward profile.

Investment criteria

  • Regions with working petroleum systems
  • Favourable fiscal regimes with low political risk
  • Resource materiality – scale for acquirers and returns for shareholders
  • Scope for technology to unlock latent value
  • Line of sight catalysts for value re-rating
  • Clear monetisation opportunity after value creation

Prospex is building a sizable oil and gas investment portfolio, focusing on high impact, onshore and shallow, offshore European opportunities located in working hydrocarbon systems.

Utilising the team’s proven track record and global experience, the Company is looking to invest in low capex opportunities in Europe’s oil and gas sector with a particular preference for late stage, drill-ready exploration; reworking of existing fields; or failed exploration targets where new ideas and the latest technology can be applied. Once identified and acquired, the Company will seek to create tangible value across its core projects within a 12 month period in order to maximise the impact of its capital and balance its risk-reward profile.

Investment criteria

  • Regions with working petroleum systems
  • Favourable fiscal regimes with low political risk
  • Resource materiality - scale for acquirers and returns for shareholders
  • Scope for technology to unlock latent value
  • Line of sight catalysts for value re-rating
  • Clear monetisation opportunity after value creation

Board & Management

Mark Routh - Chief Executive Officer

Mark is a Petroleum Engineer with more than 40 years’ experience in the oil & gas industry, covering executive management, commercial/asset management, area management and technical roles. Mark spent eight years as CEO/Chairman of AIM listed Independent Oil & Gas plc. He has more than 15 years’ experience as a Board director in executive and non-executive roles in both private and listed companies. Prior to founding CH4 Energy in 2002, he served 10 years with Hess, six years with BP and five years with Schlumberger in South East Asia and the North Sea. Mark has an MSc in Petroleum Engineering from Imperial College.

Bill Smith - Non-Executive Chairman

Bill is a Canadian solicitor with 40 years of experience in corporate finance and is a director of a number of listed and private companies including: Orca Exploration Group (TSXV); Mosaic Capital Corporation (TSXV); and PFB Corporation (TSX).  He was a senior partner of McCarthy Tetrault LLP in Canada and was subsequently Executive Vice President of two listed international oil companies and a listed investment firm. He has extensive experience including a number of start-up ventures in the oil and gas sector.

Alasdair Buchanan - Independent Non-Executive Director

Alasdair has a BSc in Chemical Engineering and over 40 years of experience in the upstream oil and gas sector. Most recently he was Global Energy Director at Lloyds Register and was COO and a director of Senergy Group plc.  Alasdair was a non-executive director of Warrego Energy from 2012-2019 prior to its public listing on the ASX.  Alasdair worked for Halliburton for three years in Aberdeen and Texas, most recently as Vice President UK and worked for BJ Services for 28 years both in the UK and internationally.

Carlos Venturini - Exploration Manager

Carlos is a geologist (BSc) with an MSc in structural geology and over 25 years in geophysical interpretation and oil prospect generation gained with Schlumberger, ENI, Sipetrol, and from his own Libya-based consultancy working for Petrobras, GDF, OMV amongst others.  He is an expert in Mediterranean and African petroleum geology.

Peter Elliot - Business Development

Peter holds a degree in geology and an MSc in petroleum geology.  He has 22 years’ experience in the international oil and gas industry working in New Ventures and Business Development, most recently building oil company JVs in West Africa, including Senegal AGC, Liberia and Equatorial Guinea.  He has also managed exploration contracts and work programmes.

Andrew Hay - Independent Non-Executive Director

Mr Hay, a graduate of Oxford University, has more than 30 years of experience as a banker in London and New York. He is currently a Senior Adviser at Smith Square Partners, a leading London corporate finance firm. Formerly he was Chairman of LGB Corporate Finance and before that built and led the corporate finance business of Edmond de Rothschild in London. He has in depth experience in corporate banking, the debt and equity capital markets and international M&A.

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Core Investments

El Romeral Project, Spain

Tesorillo Project, Spain

Po Valley, Italy

Information for Investors

AIM Rule 26

The information on this page is being disclosed in accordance with AIM Rule 26.

Advisers

Nominated Adviser & Joint Financial Adviser
Strand Hanson Ltd
26 Mount Row, Mayfair, London W1K 3SQ
020 7409 3494

Joint Broker & Joint Financial Adviser
VSA Capital Limited
Park House, 16-18 Finsbury Circus, London EC2M 7EB
020 3005 5000

Joint Broker
Fox-Davies Capital Limited
Devonshire House, 1 Mayfair Place, London W1J 8AJ
020 3884 7447

Reporting Accountant and Auditor
Adler Shine LLP
Aston House, Cornwall Avenue, London N3 1LF
020 8371 3000

Legal Advisers
Charles Russell Speechlys LLP
Fleet Place, London EC4M 7RD
020 7203 5000

Public and Investor Relations
St Brides Partners Ltd
Warnford Court, 29 Throgmorton Street EC2N 2AT
0207 236 1177

Registrar
Neville Registrars
Neville House, Steelpark Road, Halesowen B62 8HD
0121 585 1131

Company Secretary
Ben Harber
60 Gracechurch Street, London EC3V 0HR
0207 264 4366

Corporate Governance

The Board is committed to maintaining high standards of corporate governance. To assist the Board in reporting to shareholders the Company has adopted the QCA Corporate Governance Code, which is widely recognised. The Board believes that the governance practices at Prospex are aligned with the ten principles of good governance set out in the Code, which are explained in the Company’s Corporate Governance Report. This report also explains some variations in Prospex’s adoption of the Code where they exist. To read Prospex’s Corporate Governance Report, please CLICK HERE.

Furthermore, as part of the Company’s Corporate Governance policy, the Board has established Audit and Remuneration Committees.

The Board is committed to creating value for shareholders; determining strategy, investment and acquisition policy; approving significant items of expenditure; and considering significant financing and legal matters.

The Board has referred certain responsibilities to the Board Committees, which operate within defined terms. The current composition and responsibility of Board Committees is as follows:

Remuneration Committee

The Remuneration Committee consists of Bill Smith, Andrew Hay and Alasdair Buchanan, who also chairs the committee, and is responsible for making recommendations to the Board, within agreed terms of reference, on the Company’s framework of executive remuneration and its cost. The Committee determines the contract terms, remuneration and other benefits for any executive directors, including performance related bonus schemes, pension rights and compensation payments. The Board itself determines the remuneration of the non-executive directors.

Audit Committee

The Audit Committee consists of  Alasdair Buchanan, Andrew Hay and Bill Smith, who also chairs the committee, and provides a forum for reporting by the Company’s external auditors. The Committee is responsible for reviewing a wide range of matters, including half-year and annual results before their submission to the Board, and for monitoring the controls that are in force to ensure the integrity of information reported to shareholders. The Committee advises the Board on the appointment of external auditors and on their remuneration for both audit and non-audit work, and discusses the nature, scope and results of the audit with the external auditors. The Committee keeps under review the cost effectiveness and the independence and objectivity of the external auditors.

Date of last review June 2023.

 

Corporate Documents

Financial Reports

Circulars

Corporate and Constitutional Documents

Equity Research

These reports are intended for Professional Clients.
Peterhouse Capital Limited is Authorised and Regulated by the Financial Conduct Authority.

Independent Evaluations

Presentations

Company Description and Investment Proposition

Prospex Energy Plc is an AIM-quoted Oil & Gas investment company. For a full description of the Company, please go to About Us.

The Company’s Investment Policy, which was adopted on 1 July 2017, can be found here.

Country of Incorporation and Main Country of Operation

The Company was Incorporated in the United Kingdom and the Main Country of Operation is the United Kingdom.

The Company is subject to the UK city code on Takeovers and Mergers.

Details of any other exchanges or trading platforms

The Company is not listed on any other exchanges or trading platforms.

The Company is listed on AIM, under ticker PXEN.

Securities in issue and Restrictions

The number of securities in issue is 285,020,669. There are no restrictions on the transfer of the Company’s shares.

Significant Shareholders

Shareholdings in the Company of greater than 3% and those of directors as advised on 28 April are as follows:

PXEN Shares Issued 285,020,669  
     
Name Shares in Issue %
Colin Wilson   20,073,557 7.04%
James & Olga Simmons 17,150,000 6.02%
Simon Chantler 14,158,029 4.97%
James Smith 9,874,483 3.46%
Grant Glanfield 8,847,500 3.10%
Bill Smith* 6,447,517 2.26%
Alasdair Buchanan* 3,428,571 1.20%
Mark Routh* 1,428,571 0.50%
Total  81,408,228  28.56%
Remainder  203,612,441  71.44%

*Director

Shares not in Public Hands

The total percentage of shares not in public hands is 11,304,659 representing 3.97% defined as being beneficial holdings of shares held by shareholders holding above 10% and the director’s holdings.

In addition, Management hold 14,346,897 options representing 5.03% of the current issued share capital.

Total shares in issue to calculate % voting rights - 285,020,669

 

Current constitutional documents

For the Company’s current constitutional documents, please go to the corporate documents

Admission Documents and Circulars

For the Company’s admission document and circulars, please go to the corporate documents

News


Historical News

2017

2016

2015

2014

Final Results.pdf
02/06/2014

Director
17/04/2014

Issue of Equity.pdf
20/01/2014

2013

2012

2011

2010

Video
Prospex Energy present at the Proactive One2One Investor Forum
Roast PR-12 Stocks for the 12 Days of Christmas featuring Mark Routh
Vox Markets Podcast, 29 July 2022
Midweek Takeaway with Mark Routh, CEO of Prospex Energy, 08 August 2022
Vox Markets Podcast, 11 April 2022
Vox Markets- Mark Routh of Prospex Energy discusses Selva Field Update & answers shareholders questions
VSA Capital’s Andrew Monk speaks to Mark Routh, CEO & Managing Director of Prospex Energy plc, 01 August 2022
Vox Markets Podcast, 1 December 2021
Vox Markets Podcast, 24 August 2021
Gallery

Po Valley, Italy

Contact

T.020 7236 1177

Registered Office Address
60 Gracechurch Street,
London,
EC3V 0HR