Prospex has applied for 2 licences onshore Poland, named San and Dunajec, through its wholly-owned subsidiary PXEN Tatra Sp z.o.o. The applications were published in the EU journal on 14 October 2025, triggering a 90-day window for other interested parties to submit competitive bids to Poland’s Ministry of Climate and Environment.

Competitors would have to be pre-qualified to apply (Prospex had already completed this process in 2024). In order for a competitor to be awarded the licence over PXEN Tatra, they would also have to submit a more attractive work programme, so the details of our programme will remain confidential until such time that the licences are awarded.

Once the 90-day period has passed and all the applications have been received, the regulator will deliberate for a period of 3 months, so the earliest the licences can be awarded is April/May 2026.

The licence areas have been selected because they align with our rigorous investment criteria, namely:

– Proven gas production

– High prospectivity within targeted geological horizons

– Significant potential for unlocking new reserves

– Near-term production potential, with a timeline of 2–3 years

From a geological standpoint, the areas are in the Carpathian foreland, leveraging Prospex knowledge from other PXEN assets in foreland basis such as the Po Valley in Italy, the Guadalquivir in Spain, and even the Carpathian foreland itself from when the company participated in the Suceava licence in Romania. There are clear parallels between exploration plays in existing PXEN assets and the new areas in Poland. Dunajec in particular has more than one viable play, with known discoveries in the Miocene and a separate play in the Mesozoic. The other area, San, has shallower and more accessible targets. Both San and Dunajec are named after rivers.

In support of future development, Prospex has bolstered its in-country team and undertaken a number of studies.  The company conducted comprehensive geological analysis at the Polish Geological Institute and has engaged a local geotechnical firm to develop compliant geological work programmes, ensuring alignment with industry and regulatory standards.  Prospex has also appointed a Country Manager, incorporated local expertise into its technical team and has formed a partnership with AGH University of Kraków, leveraging the institution’s academic capabilities in geology to enhance its technical and research capacity.

Why Poland?

– Low Geological Risk: Single-event depositional reservoirs reduce exploration uncertainties.

– Cost-Effective Drilling: Shallow, young reservoirs minimise operational costs.

– Favourable Business Climate: Poland’s fiscal regime supports natural gas investment and energy security goals.

Prospex has previous operational experience in Poland, as well as local staff with experience and an established network in the country. Drone photos of the well drilled in 2016 can be seen at the bottom of this page.

Why PXEN Tatra?

In March 2024, Prospex registered a wholly owned subsidiary company called PXEN Tatra Spółka Z Ograniczoną Odpowiedzialnością (“PXEN Tatra”) or PXEN Tatra Sp. Z o. o. (which translates to PXEN Tatra Limited Liability Company).  The company has been named after the Tatra National Park and the Tatra mountain range in southern Poland, which form a natural border between Slovakia and Poland.