Prospex Energy plc has settled the third and final capital repayment plus accrued interest from the September 2022 convertible loan notes of a total £500,000 value.
GROWTH
Using accumulated cash within the company, a total of £175,239.83 has been paid to the three CLN holders.
Chief executive Mark Routh said that Prospex was now completely debt free.
“With regular monthly income from our two producing assets – gas in Italy and electricity sold from our gas production into our power plant in southern Spain, the company has established a sound footing for the growth and development of its activities.”
Prospex is also reviewing European energy investment opportunities while surplus funds will finance future projects, in particular three wells planned in Italy and five wells in Spain.