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@Brasso- I have a daughter, good shout probably best to move all the shares into her Junior ISA forget all about PPC, and just invest in Amazon.
@Ohmetoe- Agreed, probably if you've heard of PPC for the 1st time now and can get in at sub 2p there could be a huge upside and good returns to be made. Just it has to go 5x for me to break even. It might happen. I'm still hoping it does. Just probably not in the very near future....
That the issue with being LTH here unlikely to get money back whereas if you bought in over last month probably good earner here with the stock
DRichi
Do you have kids or grandchildren? :)
Good summary I would say DRichi, might have to add a an additional very to your last sentence and weirdly I'm still a believer in Levine - are their any cults listed on AIM?
Production is down. Price of oil is down. More share dilution. No updates this year on what PPC have been working on, expect all the workovers and exploratory drills have been pushed back. All very disappointing.
Trying to look on the positive side, PPC have weathered a huge storm with COVID19 impacting business, and oil prices crashing to unprecedented lows. Trafigura have come on board, and despite them not having a whiter than white track record, they will bring knowledge, contacts and opportunities for PPC to expand.
Maybe it's not all bad then. But as a long term holder not wanting to sell at a loss, it looks like I will have to become a very very long term holder.......
Hi Brasso3 welcome back, yep all the rampers do is say how cheap they are and what the price is going to be without looking at the facts . Not heard the phone In not sure i want to listen to the same old drivel that we've had time and time again
Its impossible to put a forward looking valuation on PPC as past evidence suggests that it never follows through on a strategy and meets targets.
How much are reserves in the ground worth with oil at sub $40/ barrel? Maybe $2 - $3 / barrel on a P2 basis especially for Argentina. Therefore PPCs reserves are around $40 - $60m (£30m - £40m). If you take the cash and debt into the equation then maybe 2p is fair value. There is an added complication in that the bulk of PPCs reserves are in the Vaco Muerta region where our current license is 7 years.
What the rampers have missed conveniently in the past 24 hours is that production is down to 3000 BOEPD with all wells online. 1000 BOEPD of that is gas so oil production is now 2000 BOEPD. 18 months ago oil production alone was 3300 BOEPD (Jan 2019). Not only are we being constantly diluted but the BoD are managing to reduce production and more importantly revenue and profitability.