RE: PXOG11 Oct 2019 17:01
Prospex non-executive Chairman, Bill Smith, said, "With an historic gas discovery, exposure to the European fore deep play, excellent access to infrastructure and local markets, Tesorillo shares many similar characteristics to our interests in Romania and Italy where over the last 12 months commercial gas discoveries have been made at both projects. One major difference however is the potential size of the field at Tesorillo. Whereas prospective resources on the near term producing Podere Gallina permit in Italy and the Suceava permit in Romania are estimated in terms of tens of BCF of gas, there could be up to two trillion cubic feet of gas at Tesorillo. We consider potential resources at Tesorillo to be on a far larger scale and success here would therefore be game-changing for Prospex. With this in mind, we are looking forward to commencing the MT Survey, the results of which will inform a planned drilling campaign focused on unlocking the huge volumes of recoverable gas we believe the field holds."
Gla