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Kolo licence could be a “key company-maker”, claims Prospex MD

Ed Dawson, managing director at natural resources investor Prospex Oil and Gas PLC (LON:PXOG), says the firm’s acquisition of a 49% stake in Hutton Poland could prove to be “a key company-maker”.

Hutton Poland owns 100% of the Kolo licence in Poland, and Dawson tells Proactive that he is “very pleased” with the investment so far.

“It was a key first investment,” he says.

“There’s 87 billion cubic feet [of natural gas] on a mid-case [at Kolo], so if it comes in it will be a meaningful gas field in Europe.”

Dawson describes the project as “relatively low-risk”, and hopes that a well will be drilled there at some point in the fourth quarter of this year.

The managing director also talks about new transactions, explaining that the Prospex team has already looked at numerous potential opportunities.

He adds that the firm will continue to “actively” explore other “relatively late” projects.

Quick facts: Prospex Energy PLC

Price: 2.3 GBX

AIM:PXEN
Market: AIM
Market Cap: £2.04 m
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