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Prospex Energy, the investment company formerly Prospex Oil and Gas, has released its audited annual year results for the year ending 31st December 2020.
The company holds total assets of £5,748,211, £593,679 below the 2019 figure (£6,341,890).
The company raised £720,00 through issuance of 600,000,000 new shares, to help fund the companys acquisition of a £49.9% indirect stake in EI Romeral.
Unrealised losses arising on revaluation of investments at fair value amounted to £377,498 compared to £270,220 in unrealised loss in 2019.
Edward Dawson, managing director of Prospex, said: Prospex has emerged from what has been a highly challenging year with strong asset backing in the form of total assets of £5,748,211, a focused portfolio of investments following the acquisition of El Romeral and the disposal of Suceava, and with its roadmap to build a highly cash generative, ESG focused, gas and power investment company very much intact.