Activist Demands Changes At Panoro Energy – Sources

An activist investor, Julien Balkany, has taken an interest in a 3 million share position in a European-based oil exploration company with plans to oust four members of the current board of directors, sources familiar with the situation tell ValueWalk. Panoro Energy ASA (OTCMKTS:PESAF) is a oil company that has struggled mightily in 2014.  With exploration assets near Ebola ravaged West African nations, the company’s stock price has seen a drop from a peak of 3.680 on the Oslo exchange to drop to a yearly low of 2.7 amid what is characterized as a lack of focus to capture opportunity. Unnamed activist…