RE:How does it feel to be duped ? Outlook
Energy security and independence has become a material focus for much of Europe as a result of the changing
geopolitical landscape, as evidenced in the Russia-Ukraine conflict. Countries like Austria and Germany, among others,
are having to re-evaluate their energy needs, consumption, and sourcing.
Based on current government policies and market trends, it is management’s view that petroleum and natural gas
demand will continue to grow within Europe, from sources that are regionally produced. While commodity price volatility is
expected, an underlying focus on energy security will continue to drive strong demand for locally produced energy.
Management believes that the most impactful catalysts for the Company in 2024 are appraisal drilling results, follow-on
exploration, and accretive acquisitions focused on developing long-term European energy security and independence.