Prospex Energy PLC / Index: AIM / Epic: PXEN / Sector: Oil and Gas

THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.  

The communication of this announcement, and any other documents or materials relating to the CLNs is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000.  Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom.  The communication of such documents and/or materials as a financial promotion is only being made to, and may only be acted upon by, those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotion Order")) or persons who are within Article 43 of the Financial Promotion Order (being existing members or creditors of the Company) or any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order.

13 March 2026

Prospex Energy PLC

('Prospex' or the 'Company')

Update:  £1.6 million Convertible Loan Note Fundraise Oversubscribed

Further to yesterday's RNS, Prospex Energy PLC (AIM: PXEN), the AIM-quoted investing company focused on European gas and power projects, is pleased to confirm that its unsecured Convertible Loan Note ("CLN") offering is now oversubscribed. 

Investors wishing to participate in the CLN offering can still do so, but must inform the Company by no later than 5 p.m. today, Friday, 13 March 2026, and can expect to receive a pro rata allocation.

Depending on the quantum of final subscriptions, the Board may elect to increase the total size of the offering.

Tom Reynolds, Prospex's CEO, commented:

"I am pleased by the strong support shown by investors following yesterday's announcement, with commitments received resulting in the CLN fundraise becoming oversubscribed.  A limited opportunity remains for investors to participate, and interested parties should contact the Company before the close of business today. I would like to thank shareholders who have taken part in the fundraising for their continued support."

How to subscribe to the CLN

The CLN will be issued by the Company directly to each subscriber.

To subscribe to the CLN please contact the Company's brokers VSA Capital or Hannam & Partners by email:-

VSA Capital                         email mail@vsacapital.com

Hannam & Partners        email info@hannam.partners 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

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For further information visit www.prospex.energy or contact the following:

Notes

Prospex Energy PLC is an AIM quoted investing company focussed on high impact onshore and shallow offshore European opportunities with short timelines to production. The Company'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.  The Company will rapidly scale up gas production in the short term to generate internal revenues that can then be deployed to develop the asset base and increase production further.