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News this week, before Wednesdays if they stick to their time frame. But as we all know time frames can slip as well as the sp,
A good post indeed from comeonvog.. and he's had plenty of good posts previously too in fairness..
Great post comeonvog. It will be a real test given all you have listed where the share price will be in 6 months I'm hoping it will be at least 5p
Atb,
Northern
I don't think we will be waiting for news , H2 could/should be interesting . IMO
WTI June 2020 $40
WTI June 2021 $70+
Not really ramping at this stage , more enthusiastic towards where i think this stock will be trading in the next six months.
1. OIL....Puesto Guardian Concession, Salta Province, Argentina.It is anticipated that the seismic work will be awarded before the end of June with work to start during Q3 2021. Discussions are taking place with rig contractors. It is currently anticipated that drilling of the three wells will commence at or around end Q3 2021 subject to all appropriate permissions being in place.
2. ATOM...... It is expected that a further announcement relating to Atome will be made in June with progress being made on two diverse projects.
3. Treatment Plant. New treatment plant and infrastructure set to start first phase operations in Rio Negro by end June bringing immediate cost savings whth an estimated $4/boe reduction in operating costs.
5. More Gas Well's..... Possibility of new wells in the same originally pressured fault block as EV-1002 now being considered for later this year.
6. Waterflooding. Positive results from the secondary recovery pilot project in the main Puesto Flores field .Waterflooding if successful, enables greater levels of oil in mature fields to be produced which otherwise would be left in the ground. By so doing not only does it produce more of the 2P (proven and probable) oil reserves but mitigates the inevitable effect of natural decline in production from existing wells by softening the decline curve.
7. Later in H2, there is a planned 3D seismic data acquisition programme over a formerly prolific Canada Grande field within the Puesto Guardian Concession, Salta Province to find new well locations to target and drill the productive A6 sand there. An initial land survey by potential contractors is currently underway. The best wells in Canada Grande produced initially as much as 1,000 boepd from the clean A6 sands. If the data indicates commercially viable well locations, then it would be President's objective to drill in Canada Grande following on from the H2 drilling in Salta.
7. Paraguay farm-out signed....it is currently projected that drilling will commence in Delray during H1 2022. Further details on timing will be announced as and when it is available.
Mid core ramping is seemingly not getting the job done here, alas... so time for some hard core in q3, perhaps .. and if still not working rampant ramping may be required in q4...Any volunteers ? :-)
H2 next week when things will really start to move , news in abundance is my prediction. Trolls do one.
NorthernMagic Most stock's have a transition period at some point and to me this is what we are experiencing ( stale bulls/traders). This has been a terrible investment/LTH for most and it's mainly down to PL bad judgment in that time, but we move on. We are lucky in one respect and that is the pricing for oil/gas , this is a big brucy bonus and will be making a positive impact to our financials as we are moving into the next phase of drilling. IMO
That's exactly my concern though comeonvog -
the SP never gets a chance to stabilise at a higher price.
Not sure what's going to change that.
Atb,
Northern
NorthernMagic ye i know it's all in the RNS's , i'm just on about last year's subscription by Trafigure. BTW you answered your own question , the problem here is people trading on every little rise the SP never gets a chance to stabilise at a higher price.
"and as my current average is low - 1.8p ish - and through range trading my way out of endless holes over the years"
Morning Northern. Personally I think transparency/information on the accounts, production figures and cash flow are required. It's that simple. The accounts being delayed is bulls**t. Sorry to be callous about covid excuses but donegal has said he's in the business and there shouldn't be a reason (apologies if I've misquoted you), I manage about 70 companies on behalf of other people and haven't had to delay, PPC have a finance director paid to do the finances. Sage/Xero/other account products available do all the work for you if you input the data correctly - really not that difficult. The twitter account feels a bit smoke and mirrors to me. Paraguay was a case in point - we've got this great news but we can't tell you about who we are doing business with. I seem to have a habit of mentioning twitter here and then news coming and given it's gone very quiet of late hopefully something positive will come today. I'm going to hold on the basis that this is firmly in the bottom draw for me. When the accounts get published the first thing I'm going to look at is the salary for PL and RS and call them out if we shareholders have invested in a gravy train for PL and his cronies.
There is a lot of good advice given on these boards and I appreciate people often see things things from their own perspective.
If you are long term holder in President and have lost money because of the price you previously paid when there were less shares available then I can well understand the frustration. Averaging down might work well.
However and this is the thing that doesn't seem to being answered(btw I don't know the answer myself) as the company currently stands with all the good work it has done over the last couple of years it barely gets above 2.10p before dropping again. So, the question is what action can the company take to increase the share price. If incremental addition to production doesn't seem to do it then will acquisitions help? will Atome help? , or do we need to wait till next year and see if we get success from Paraguay(which is a risk anyway).
So, despite all the good things that have happened over the last couple of years I am failing to see how shareholder value is to be increased here - or am I just not seeing something that other people are?
PL can enthuse all he wants but the real test to me is that sp and at the moment it seems to be stuck.
Atb,
Northern
Trafigura started buying in here before last June comeonvog.. see my cut and paste below for eg... (and no doubt they, back then, though 4p was a good first tranche entry price :-))
I'm only still here because i refuse tro let an arrogant little man like PL get the better of me .. and as my current average is low - 1.8p ish - and through range trading my way out of endless holes over the years i'm only a small few k down from my previous 'journey' here.. so I expect/hope i'll do well in the end here.. but, whatever, I'll still remember Pl as Napoleon Bonaparte. And I never did, and never will like Napoleon !
PRESIDENT ENERGY PLC
("President" or the "Company")
Subscription for new Ordinary Shares by Trafigura
Conversion of debt into equity
Immediate reduction of Group debt by US$5.95 million and potentially up to US$14.8 million
Trading update
TRANSACTION HIGHLIGHTS:
·; The international commodity trader Trafigura has agreed to take a significant stake in President pursuant to a subscription to raise up to US$10 million, comprising an initial subscription of US$4 million for 75,997,775 new ordinary shares in President ("Ordinary Shares") at a price of 4.04 pence per share (the "Initial Subscription Shares") and, at Trafigura's option, potential further subscriptions of up to US$6 million through the issue of further new Ordinary Shares at a price of 4.65 pence per Ordinary Share. All subscription monies will be applied in paying down the advances made by the Trafigura group to the Company and its subsidiaries (the "Group") referred to in President's announcement of 25 July 2019.
NicetoMichu "he's got to show that in black and white though because there is no goodwill at all left " i think you have to treat this as a new investment, let the past go and move on . Much has changed with PPC over the last 24 months and POO/Gas is moving in our favour to help support a higher SP, this company as it stands now with all the infrastructure and reserves must be worth way more than £50 million so i'm sticking with it. Plenty saying we could be in for a couple of years of high pricing for all Hydrocarbons, Trafigura could have just timed this right last June or did they know what might happen in 2021.
If hes delivers well to the bottom line for a change this s/p will no doubt go up from here ... I expect his recent RNS words count for so little as there's so little trust in him left .. and it has been gas coming on in H1 too, which is not nearly as big as oil ashuge loss a bottom line contributor.. and he feels obnoxious enough for to perhaps be plenty in the institional world willing hin on to continued failure.. eg the Institution clearing out here in the 1's p at a huge loss that was a in his mind no more than a tiny pimple on his neck type thing, or whatever words he used along those lines ... This has unfortunately been a very bottom line poorly perfoming business for a long time - with endless placing used to try to cover that up - but altogether there's a good opportunity to change that around now.. he's got to show that in black and white though because there is no goodwill at all left ...
Of H1 are upon us, the 6 months of waiting are all but gone as we prepare to drill for oil throw in news on the treatment plant, Water-flood, ATOM ( our green credentials ) "It is expected that a further announcement relating to Atome will be made in June with progress being made on two diverse projects." Update on Group reserves. New 3D seismic data acquisition planned over Canada Grande, a formerly prolific but now non-producing oil field also at Puesto Guardian well the list is endless . o ye and WTI at 5 year high's , going to be an exciting H2 IMO