Exploration & Production | People | People-Resignation | People-Promotion
Argent Refocuses Direction; Reduce Capex and Growth for 2014
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Argent Energy Trust has announced a change in strategic direction and provides details of its 2014 updated capital expenditure and production forecast following its recent Board of Directors meeting on April 9, 2014.
With recent market activity resulting in a significantly lower unit price, the Trust's balanced financial structure has changed significantly. The original model of double digit yield and growth is not supported in the current market, and as such, management believes changes must be incorporated into the forward strategic direction. The following actions are intended to strengthen Argent's financial position and sustainability:
Argent's unit price has severely declined over the past few weeks, from close to a Net Asset Value (NAV) trading valuation to…
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