Ann: Lance Production to Restart in 2024 under Revised LOM Plan, page-31

Well it’s pretty poor management (putting it mildly) from Pen to be in this position. Compare the restart execution of Pdn and Boe, on track and on budget. Both those Cos got their raises away with decent terms and haven’t cocked things up and come back to the market cap in hand. I don’t think the market is over reacting, there’s prob worse to come. Pen need to raise cash and have no leverage to negotiate decent terms.

Really asking myself the hard questions now as to why I continue to hold as I have little faith in mgmts ability to execute.