Prime has distributed a
"Prime has performed very well during what has been one of the most challenging years for our industry. As well as its dividend distributions, I am also pleased to see Prime deleveraging its balance sheet. It has reduced its RBL debt by
As we look forward to the new year there is increasing optimism for the global economy to emerge from the impact of COVID-19 pandemic, and for a sustained recovery in the energy markets. We have put the Company in a strong position to benefit in this recovery phase, with our high-quality producing assets supporting our growth opportunities. These include our indirect interest in Block 11B/12B, offshore
We are also working closely with the
It has been a tremendously difficult year for everyone, and while we are quite hopeful for a full recovery in the New Year, we will continue our policy of hope for the best but plan for the worst with respect to the economy and resultant oil price. I would like to take this opportunity to thank our shareholders for their continuing support and to wish you all a happy festive period."
This information is information that
Forward Looking Information
Certain statements and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation). Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities.
All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, ongoing uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. Actual results may differ materially from those expressed or implied by such forward-looking statements.
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