- Prospex Oil and Gas said that a key well in Romania did not discover any commercially recoverable resources.

The Bainet-2 well, drilled by venture operator Raffles Energy, had reached a total depth of 656 metres.

'Sarmatian sandstone was encountered by the Well in line with the pre-drill geological model, however, no commercially recoverable hydrocarbons were indicated on the logs,' Prospex said.

Prospex held a 50% non-operated interest in the surrounding concession.

The cost of the well, including plugging and abandoning, was estimated at €520k or €260k net to Prospex.

At 9:23am: [LON:PXOG] Prospex Oil Gas share price was -0.04p at 0.15p

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