Prospex Energy PLC (AIM: PXEN) has secured the San onshore licence in Poland, marking its entry into a third European jurisdiction and reinforcing its strategy to build a diversified gas portfolio across the continent.
The licence is held through its wholly owned subsidiary, PXEN Tatra Sp z.o.o., which retains a 100% working interest. Together with the ongoing Dunajec licence application, the San concession is located in southern Poland—a region with an established track record of gas production and access to existing infrastructure, reducing development risk and potential lead times.
Prospex intends to deploy modern exploration and appraisal techniques to unlock value across these prospective assets. The company also plans to introduce joint venture partners to help fund development and accelerate commercialisation, a strategy that could prove advantageous as European energy demand remains elevated and domestic supply becomes increasingly strategic.
Tom Reynolds, Prospex’s CEO, commented:
“We are delighted to have officially been granted the San licence, formalising our expansion into Poland and adding a third European jurisdiction to our investment portfolio. San and Dunjac are located in one of the most prolific gas regions in Poland and we are confident that our team’s knowledge and experience coupled with the benefit of modern exploration and development techniques will enable us to unlock strategic energy resources at a time of rising market demand in Europe. I look forward to providing further updates on work programmes and our plans to unlock the commercial potential of the licences.”
For further information visit www.prospex.energy
