PRM - Prominence Energy: diversifying into the future of energy

(NewsDirect)

Prominence Energy (ASX:PRM) CEO andManaging Director Alex Parks joins Proactive's Stephen Gunnionwith more on how the company is expanding its footprint in the globalenergy market.

The Perth,Australia-based company has a diversified portfolio that includes oiland gas projects primarily in the US, alongside ventures inunderground salt cavern storage in Australia, and a uraniumrehabilitation project in Kazakhstan through an investment in startupcompany Umine.

The company isactively seeking partnerships to develop its large Big Apple gasprospect in the Gulf of Mexico and a small oil project in Louisiana,aiming to transition towards a lower carbon future.

It has invested in Ecossaus, a pre-IPOcompany focusing on creating salt caverns for hydrocarbon or hydrogenstorage, and has taken a 20% stake in Umine, which aims torehabilitate uranium stockpiles left from the Soviet era inKazakhstan.

The recent capital raiseof $1.55 million will further support these initiatives, particularlythe development of the Big Apple gas prospect in the Gulf ofMexico.

Prominence Energy'sstrategy reflects a blend of developing traditional energy resourceswhile positioning itself for the future energytransition.

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