Prospex Energy (PXEN) has been formally awarded the Dunajec onshore licence in southern Poland, marking its second licence win in the country following the San award earlier this month.
The licence is held through the company’s wholly owned subsidiary PXEN Tatra, which now has a 100% working interest in both Dunajec and San. Both assets sit within the Carpathian foredeep, one of Poland’s most prolific gas-producing regions with established infrastructure.
Prospex said the licences offer high prospectivity across multiple geological horizons, with limited modern exploration activity since 2000. The company plans to apply updated imaging, evaluation and development techniques to support resource discovery. In addition, historical data is currently being gathered to guide near-term work programme planning.
The Dunajec licence includes a shallow undeveloped oil discovery with near-term commercial potential. The company intends to assess options for early development at the Mniszów structure.
Prospex’s CEO Tom Reynolds said: “The formal award of Dunajec means that Prospex has been awarded both licences it applied for in Poland which, together with San, provides highly attractive prospectivity. Both licences are located within one of Poland's most prolific gas regions, with Dunajec also presenting near-term development potential through the Mniscow undeveloped oil discovery.
I am excited about the opportunity to apply our technical expertise together with modern exploration and development techniques to unlock strategic energy resources on this acreage. I look forward to providing further updates on work programmes and our plans to unlock the commercial potential of the licences.”
Historically, multiple wells drilled in the 1960s identified a 13 metre oil pay at around 600 metres depth, with an estimated two million barrels of oil originally in place. However, the field remained undeveloped due to its relatively small size compared to nearby producing assets.
Going forward, Prospex indicated it may look to introduce joint venture partners to support development across both Polish licences.
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This is a clean strategic step for Prospex, securing both Polish licences it targeted and consolidating a position in a proven gas basin. The addition of a shallow oil discovery at Dunajec adds potential near-term upside, while the broader gas prospectivity offers longer-term growth. The focus now shifts to how quickly the company can advance technical work and attract partners to help unlock value.