Prospex Eng Share Price (PXEN)

With monthly cash 💰 landing.

Crudely SP should increase 5% per month minimum or circa 1m mcap

Derisked.

Nice to see some decent movement and vol in here! Wonder what caused it - been expecting the usual PXEN (PVE) update Quarter end +1 month since October :) All progressing to plan. £620k more in the bank.

#PXEN - research 🗒

✅ 2 producing assets now from onshore indigenous European gas assets

✅ Balance sheet strengthening month on month - circa £2.5m in bank

✅ Use cashflow to self-finance future drills on both Selva + El Romeral, no raises needed for this activity

✅ No Debt / No Warrants = No Dilution

🔹Italian Selva asset; generating circa €3m* Profit to the bottom line net of Vat, Royalties & Taxes from just 1 well

🔸PXEN own share of entire gas ⛽️ field - the next two targets contain a gross estimate of 10X the initial producing well- drill programme to be planned for next well(s).

🔹Spanish El Romeral asset in production: circa €1m profit per annum to PXEN

🔸11 more wells once permit granted. 3 wells to be drilled immediately.

🔹Only requires 2 wells at 25,000 scm/d to increase 33% to 100% production @powerstation (potential to increase to €3m Rev per annum)

🔸Spanish Tesorillo asset, once license renewed in ‘23, option to increase 15% to 49.9% ownership for €1.725m

🔹Other expansion plans around Spanish El Romeral asset to grow PXEN eg. Solar / blue hydrogen. Solar project to increase output by up to 60%.

🔸All fully funded from cash flow of El Romeral and Selva - no short / medium term raises!

🔹Broker note 20p - based on 1 Selva field & El Romeral @30% production. Rest not priced in.

*Based on TTF at 30

Future growth options:

1) Further organic development of assets

2) Further acquisitions

2) Prospex becoming a ripe takeover target

I have been developing my A.I with my business partner & we are getting some pretty awesome results, using my own unique T.A. system. This is what my A.I said about #PXEN bearing in mind it uses a huge amount of data, including news & multiple RNSs plus the technicals. It is not biased in any way.

### Chart Analysis of Prospex Energy PLC (Ticker: PXEN, 1D Time Frame)

Confidence Level: Moderate

#### 📈 Technical Indicators & Price Action:

1. Exponential Moving Averages (EMAs):

- Bullish Crossover: The 9-day EMA has crossed above the 21-day EMA, signaling potential bullish momentum.

- Price vs. EMAs: Current price is above the 9-day and 21-day EMAs but remains below the 50-day EMA. A break above the 50-day EMA at 5.30 GBP could further confirm bullish momentum.

2. Volume Analysis:

- Increased Volume on Uptick: The recent price surge is supported by a noticeable increase in volume, suggesting strong buying interest.

3. Support and Resistance Levels:

- Immediate Resistance: The next major resistance is around 6.52 GBP, marked by previous highs and the psychological resistance level.

- Support: Current support levels are at 5.30 GBP, coinciding with the 50-day EMA.

4. Trendlines:

- Downward Trendline Break: The price has recently broken out of a long-term downward trendline, potentially indicating a trend reversal.

5. Price Targets:

- Upper Bound: If the bullish momentum continues, a test of the 6.52 GBP resistance level is likely.

- Expansion Potential: A breakout above 6.52 GBP could open a path towards 7.50 GBP, following the trendline projection.

#### 📊 Trading Strategy:

- Short-term Strategy:

- Entry Point: Consider a buy entry if the price retests and holds above the 50-day EMA (5.30 GBP) to confirm support.

- Exit Point: Initial targets could be set near the 6.52 GBP resistance. Extend targets to 7.50 GBP if the price breaks past 6.52 GBP with sustained volume.

- Risk Management:

- Stop Loss: Place a stop loss just below the recent swing low of around 5.20 GBP to protect against a reversal of the breakout.

- Position Sizing: Ensure that the position size is moderated to account for volatility, with risk per trade capped at around 2% of the trading portfolio.

#### Conclusion:

The technical outlook for Prospex Energy PLC is cautiously bullish, with the recent breakout indicating potential for upward movement. The strategy should focus on validating support levels and watching for continued volume support. Keep an eye on the 50-day EMA as a pivotal point for confirming bullish trends. Adjust the trading plan dynamically based on price action at key resistance levels.

📈 Bullish Sentiment: Monitor for sustained price action above key EMAs and the breakout point to maximize potential gains and manage risks effectively.

I stand by my #PXEN chart I dropped here in March. If the SP gets over the 200 then it's gonna test 7p, IMO https://x.com/SwazersC/status/1786323470285955147 https://www.tradingview.com/x/XIOobtvE/