Prospex has a 7.5% stake in HEYCO Energy Iberia (HEI), the operator of the Viura gas field in La Rioja, northern Spain. HEI owns c. 96.5% of the Viura concession, giving Prospex’s implied, indirect interest at c. 7.24%.

Viura, discovered in 2010, is one of only two producing onshore gas fields in Spain and provides over 80% of the country’s domestic gas production. The field has 105 Bcf (3 Bcm) of reserves, with 6.5 Bcf (0.18 Bcm) net to Prospex.

Production comes from a single main well (Viura-1ST3). New wells are planned with the objective of increasing production.

US$87 million has been invested in development and infrastructure, connected to Spain’s national gas pipeline system. With HEI’s 20+ years of operational experience, the project offers Prospex a low-risk investment.