**Summary**
Prospex Energy plc (AIMPXEN) announced that its joint venture partners, including Po Valley Operations Pty Limited (PVO), have signed a new **Gas Sales Agreement (GSA)** with **Hera Trading S.r.l.** (part of Hera Group), effective **October 1, 2025**. The agreement replaces the existing GSA with **BP Gas Marketing**, which expires on the same date.
**Key Highlights**
The 12-month contract covers the supply of **approximately 27.963 million standard cubic metres of gas** from the **Podere Maiar-1d well** in Italy’s Selva Malvezzi production concession.
Gas pricing is linked to the **Italian Gas Index (IG INDEX GME)**, expected to yield a premium compared to the Dutch TTF gas price.
The agreement strengthens local engagement, as Hera Group is a major Italian multi-utility company headquartered in Bologna.
Prospex holds a **17% interest** through PXOG Marshall Limited and a **20% interest** through UOG Italia Srl in the Selva Malvezzi joint venture.
The GSA was secured through a competitive tender process, with Hera Trading emerging as the successful bidder.
**Background**
The Selva Malvezzi joint venture has successfully delivered **≈54.4 million standard cubic metres of gas** since production began in July 2023.
Prospex’s CEO, Mark Routh, emphasized the agreement’s significance in strengthening regional relationships and supplying locally sourced energy.
**Contract Details**
**Start Date:** October 12025
**End Date:** October 12026 (with no automatic extension
discussions to begin 30 days before expiration).
**Delivery Point** Budrio 50202301 via SNAM.
**Payment Terms** Settlement 20 days after month-end, with detailed invoicing for gas sales and transport costs.
This announcement constitutes **inside information** under the Market Abuse Regulation (EU) No. 596/2014.