The Board of Petsec Energy Ltd and I express our gratitude for the continuing support of the Convertible Noteholders, in the expectation of a restart of oil production from the Damis Block S-1 in the not-too-distant future.The Operator has secured all essential approvals, assembled a qualified team, and is poised to return to the site promptly upon resolution of the Houthi/Saudi conflict. Recent developments in Houthi behaviour have drawn the attention of numerous countries, raising the possibility of a swift resolution to the conflict.We remain committed to navigating the challenges, optimistic about the prospects for restarting operations, and delivering value to our shareholders. Furthermore, our resolve remains strong, and we appreciate your continued support.
Well it is now 10 years since the permits were imminent and the Annual Report continues to provide no end of comic relief.
so now it is in ‘the not too distant future’ !! So is that in the next 10 years or so ??
PSA Price at posting:
2.1¢ Sentiment: None Disclosure: Not Held
