Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Julien Balkany’s Nanes Balkany Partners Getting More Involved in Panoro Energy

Nanes Balkany Partners, an activist hedge fund which invests primarily in O&G companies and one of the largest shareholders of Panoro Energy is getting more involved.  Panoro in 2013 had retained Evercore to review strategic alternatives, other shareholders had called an EGM, and now the Board is being reconstituted adding Julien Balkany and others. Here is a copy of their press release:

Nanes Balkany Partners I LP (“Nanes Balkany”), the New York-based activist hedge fund which invests primarily in oil and gas companies and one of the largest shareholders of Panoro Energy ASA (OSX:PEN) (“Panoro” or the “Company”), today announced its full support and endorsement for the election to the Board of the nominees recommended by Panoro’s Nomination Committee. The five person slate includes: Ms. Silje Augustson, Ms. Rosa Whitaker, Ms. Alexandra Hergen, Mr. Julien Balkany and Mr. Lars Brandeggen. Ms. Auguston, an incumbent director, has been nominated by the Company in recognition of the importance of board continuity.

Julien Balkany, Managing Member and Chief Investment Officer of Nanes Balkany Partners, stated, “We believe the recommendation put forward by the Nomination Committee of Panoro is an extremely positive step for the Company.  Panoro has a very exciting portfolio of oil and gas exploration and development assets in West Africa and we are confident that under the leadership of a renewed Board the Company can achieve its true potential.”

Added Balkany: “I personally look forward to working constructively and diligently with the other directors, the management team, the employees and all the stakeholders towards our common objective of maximizing stockholder value and to position the Company for immediate success.  I also would like to thank the departing Board members for their contributions to the Company.”

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!