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Principal Solar Releases Letter to Shareholders
Principal Solar Releases Letter to Shareholders.
About this update from Principal Solar, Inc.
[{"type":"text","content":"Letter Discusses the Company's Latest Heavy EV and Petroleum Sector Activities; Renewed and Refined Strategic Focus; MoreDALLAS, TX / ACCESSWIRE / March 23, 2023 / Principal Solar, Inc. (OTC PINK:PSWW) ("Principal" or "the Company"), a strategic investor in organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today released letter to its shareholders from K. Bryce "Rick" Toussaint, CPA, MBA, the Company's Chairman and CEO.Fellow Shareholders,I believe 2023 is shaping up to be an exciting year for Principal with a number of major milestones on the horizon, both for the Company and its Portfolio Investments. With strategic agility, market potential, and stakeholder value as its driving priorities, our leadership team has recently taken a close look at our existing partnerships, investments, and joint ventures in order to refine Principal's corporate focus and streamline its activities - and ultimately increase the likelihood of the Company's overall success and profitability. As a result, we are in the process of divesting Principal of business activities, investments, and relationships that we feel are not in line with our renewed and sharpened corporate focus.Fortunately, we're already seeing the benefits of this streamlining process in the quality and effectiveness of our new business relationships. Through our recently announced joint venture with Executive Logistics & Transportation ("ELT"), we've been able to focus our efforts on acquiring controlling working interest and assets in the Minerva-Rockdale Oil Field. A major potential win for Principal, this acquisition brings an immediate revenue stream realized from the current production of 200 barrels of oil per day* and huge upside potential with proven reserves of over 4.1 million barrels*, valued at approximately $116,000,000 in today's market.* We plan to immediately begin working to increase daily production to 500 barrels within the first six months of executing our definitive agreement. The Minerva-Rockdale Oil Field is huge - 11,000 gross acres - and in our view, ripe for expansion with mineral rights into two deeper areas with additional oil and natural ...