RE: Email sent - Peter Levine Reply24 Nov 2020 14:58
Not posted here before but have been in at 9 after a debacle in the one run by Rita, thought this was different. (Northern knows). Here are a couple of extracts from RNS. “The Group is currently well placed with current oil production estimated to increase by 50% annually for the next three years funded through existing resources. Our recently acquired gas assets which are currently largely undeveloped have the potential to generate around 30% of enlarged Group production within the next two years.” PL 25 Feb 19. “In the space of only some 20 months President has enjoyed a period of transformative progress including the successful integration of four valuable acquisitions, a strategic pan-regional pipeline, the bringing on of new production, generation of positive cash flow and attaining good margins. Despite this, President's share price, uncoupled from such progress, has dropped some 35% in value during that time.” PL 6 Aug 19. Look at the placing of hundreds of millions of shares since, “to improve liquidity”, “to have new supportive investors”. Seems PL might think his recent commentaries, including naming individuals, to be cathartic but in light of the seeming distrust here it has backfired. Small hope, he might have big issues trying to get another placing away. GLA (we need it).