Prospex Energy submits EIA for drilling at El Romeral project

Core Viewpoint - Prospex Energy has submitted a complete environmental impact assessment for five new natural gas wells at the El Romeral concessions, moving forward in the permitting process without objections from statutory consultees [1][2][5] Group 1: Environmental Impact Assessment and Permitting Process - The environmental impact assessment (EIA) consultation process was completed without objections from any of the 29 statutory consultees, which included local stakeholders and NGOs [1][2] - The Ministry for the Ecological Transition and the Demographic Challenge (MITECO) will review the documentation and is expected to take 90 to 180 days for the final approval [2] - The EIA documentation was submitted after a lengthy and complex application process, which began in May of the previous year [5][6] Group 2: Project Details and Resource Estimates - Prospex owns 100% of Tarba Energía, which operates the El Romeral site, consisting of three production concessions [3] - The five proposed wells aim to target low-risk geological structures, with an estimated contingent and prospective gas resource of 18.2 billion cubic feet [3] - The El Romeral site has an identified resource base exceeding 90 billion cubic feet of gas [3] Group 3: Company Statements and Preparatory Work - The CEO of Prospex expressed confidence in the value and future development potential of the El Romeral asset, noting significant progress in the permitting process [4] - Preparatory work for drilling has continued, including well design and sourcing essential long-lead items [5] - A project to record background seismicity across the concessions has been initiated to establish baseline conditions [6]