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Production was at 3300 BOEPD in January 2019 so not quite correct. The last we heard production was around 2400 BOEPD 3 months ago. We do not know current levels assuming decline rates etc. The problem with PPCs projections is that they never materialise!
Do you remember slide 20 from the August 2018 presentation? We should have been at 7000 BOEPD by the end of this month if that forecast had of been realised!!!
https://www.presidentenergyplc.com/wp-content/uploads/2018/10/2018_August_Corporate_Presentation_Final_Web.pdf
It's worth taking a balanced view here. Negative= SP is at an all time low. Expected workovers in Argentina & Louisiana have been delayed. Marco situation in Argentina is worrying. Nothing has happened in Paraguay for years.
Positive= Production is at an all time high for PPC. Workovers in Argentina & Louisiana are planned. PPC has diversified into Gas as well as Oil, and a further 1750BOEPD will come online in Q1 2020 once the pipe is laid. And Paraguay? Something might happen there next year.....
I think that if PPC's projections could be taken as Given, that if investors had confidence that the planned work would be done, then the SP would be multiples of what it is now. I hope that PPC can achieve this. I hope that the SP can increase massively. If I keep betting on the same horse, it's should win a race sooner or later..... ;-)
Brasso I very much doubt it, surely their inability to generate cash is the big problem
I was merely quoting one kid1’s earlier posts after he suggested I only make intelligent posts going forward. I did look through the board at past posts and thought his one particularly stupid given cancelled drills failed fund raise missed targets etc
I understand a boardroom change is very unlikely I was just trying to stir matters up to see if there was a sensible reason to look to invest. Given the new government is suggesting two fingers to the IMF probably not
Do PPC have £2.5m in cash?
"At 4.5p or better id like to see president buy back some shares. 5% would cost just over $3m"
Looking at the maths & it's not a million miles out: 1,135,000,000 shares in Issue. 5% of shares = 56,750,000 shares. To buy that many shares at 4.5p each = £2,553,750.00
Sadly unless Pl wants to sell back some shares also a buyback will put him over 30%. At these prices I agree That would be a good idea
Fair comment kid, I am not a holder and was playing devils advocate to see others thoughts on a shakeout perhaps a change of roles bringing in a new eco especially after earlier comments on this board board.
As for intelligent posts this one is a gem
"At 4.5p or better id like to see president buy back some shares. 5% would cost just over $3m."
Seeing as this is your first post we will forgive you, but going forward try making intelligent posts please.