Brief: Crown Energy Provides Operational And Covid-19 Update

Crown Energy AB

12/05/2020 07:49

May 12 (Reuters) - Crown Energy AB  CRWEN.NGM :
    * CROWN ENERGY: OPERATIONAL AND COVID-19 UPDATE
    * BOARD AND MANAGEMENT RECOGNISE THAT WE ARE GOING THOUGH
VERY
CHALLENGING TIMES AT MOMENT AND WE WISH TO REASSURE OUR
SHAREHOLDERS THAT WE ARE RUNNING COMPANY WITH PRUDENCE
    * PRICES IN LUANDA PROPERTY MARKET ARE STARTING TO LOOK
ATTRACTIVE.
    * ARE EXAMINING AND INITIATING MEASURES TO REDUCE COMPANY'S
COST
BASE AT A CORPORATE AND OPERATIONAL LEVEL TO PRESERVE OUR CASH
BALANCES
    * WE ARE ALSO LOOKING AT DEFERRING FUTURE COSTS WHERE
APPROPRIATE
FOR REST OF THIS YEAR AND GOING INTO 2021
    * IS NOW CONSIDERING OPTION TO DISPOSE OF, OR REFURBISH
CERTAIN
LOWER REVENUE GENERATING ELEMENTS OF ITS PORTFOLIO,
    * LOOKING TO TAKE ADVANTAGE OF ITS STRONG CASH POSITION IN
ANGOLA
TO IDENTIFY AND POSSIBLY ACQUIRE CERTAIN NEWER PROPERTIES

Source text for Eikon:  ID:nWkr4nXbY9 
Further company coverage:  CRWEN.NGM 

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