Prospex Energy Expands into Poland, Eyes Onshore Gas Exploration Opportunities

2 min read | October 04, 2024 08:53 PM AEST | By Team Kalkine Media

Prospex Energy Expands into Poland, Eyes Onshore Gas Exploration Opportunities — Image source: Shutterstock

Key Milestones and Future Plans

Prospex, which incorporated PXEN Tatra in March, had initiated the application process in May 2024 by submitting a request to the Warsaw regulator for pre-qualification. On 3 October 2024, PXEN Tatra officially secured the qualification, enabling it to apply for licences that cover onshore open acreage hydrocarbon exploration. The company has identified high-potential areas with proven gas production and significant geological prospectivity.

Prospex plans to submit formal applications to the Polish Ministry of Climate and Environment by the end of October 2024, with the goal of unlocking new gas reserves and bringing them onstream within the next two to three years.

CEO's Outlook and Strategic Expansion

Mark Routh, the CEO of Prospex Energy, expressed optimism about the company's expansion into Poland, noting that the technical team has identified attractive onshore areas for exploration. "This expansion is a significant step for Prospex, and we are eager to see the positive results of the applications, with an anticipated outcome in Q1 2025," Routh said.

Next Steps and Timeline

Further details on the specific blocks Prospex aims to acquire will be provided once formal applications are submitted. If successful, the company could see gas production coming online in the next few years, further solidifying its presence in the European energy sector.

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