The senior management and directors of PRD Energy are committed to the company and own approximately 25% of the outstanding shares. PRD Energy divested of its producing property in 2008 and maintains a large cash reserve with no debt. This allows us to move quickly once we have determined which projects will return the best value to the PRD Energy shareholders.
PRD Energy is actively pursuing many international opportunities and analysing a number of different hydrocarbon prone basins. We are focusing on those basins that require the type of development that matches the expertise of the senior management. We see a number of excellent opportunities and are confident that a number will transact in the near future.