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Prospex Energy PLC - exploration investments in Spain and Italy - Raises £500,000 via issuing unsecured convertible loan notes to existing and new investors.
The proceeds will go towards its first gas production at Selva in Italy, London-based firm says.
Says it is on schedule for first gas from Selva field in the second quarter of 2023.
Company holds a 37% working interest in the Podere Maiar licence. In July, Prospex received approval for production concession at Podere Maiar gas field in the Po Valley onshore in northern Italy, within the Selva Malvezzi production concession.
Current stock price: 6.40 pence, up 14% on Monday
12-month change: up 78%
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