Prospex Energy (LON:PXEN) Posts Quarterly Earnings Results

Prospex Energy (LON:PXEN) issued its earnings results on Thursday. The company reported GBX (0.67) earnings per share for the quarter, Digital Look Earnings reports.

Prospex Energy Trading Down 3.3%

Shares of PXEN opened at GBX 2.90 on Friday. Prospex Energy has a twelve month low of GBX 2.10 and a twelve month high of GBX 5.70. The stock’s 50 day moving average is GBX 3.31 and its two-hundred day moving average is GBX 3.18. The firm has a market capitalization of £12.58 million, a PE ratio of 96.67 and a beta of -0.49.

About Prospex Energy

Prospex Energy Plc (AIM: PXEN) is an investment company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production. The Company is building a sizeable oil and gas investment portfolio and has working interests in three natural gas fields, two in Spain – the Viura gas field and El Romeral, and one in Italy – the Selva Malvezzi concession, which are operated by the Company’s partners. Prospex has also initiated applications for open-acreage exploration permits in Poland.

Prospex’s strategy is to acquire undervalued projects with multiple, tangible value trigger points that can be realised within 12 months of acquisition and then applying low-cost re-evaluation techniques to identify and de-risk prospects.