The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
One thing that was much talked about at the time was when Trafigura came on board. I thought through that relationship there were ways in which they could help President but despite having a Board member now have they delivered tangible benefits to President?
I also agree that it would be good to have some numbers published quarterly. I don't think they do this - do we have to wait till the half year before they can update with numbers. They, by the sound of it are doing well with the current drilling but what i the overall picture and how is improved pricing affecting revenue. These are all positives which the market might start to appreciated.
Atb,
Northern
15 years of wholesale dilution and shareholder destruction.....quite a track record for HIs Smugness Levine
Agreed. This has for sometime had the whiff of a private venture dressed up as a public company where the milch cow is us equity holders, while the American style Chair&CEo treats the company as his own plaything to do what he will based on the notion that as the largest individual s/holder he can do what hell he likes.
I agree this company might well to be in a far better place now than it has been for a long -long- time.. but potential new investors need tangible proof of that and there are too many key things that Peter Levine is awfully slow to give out info on imho..
While good operating cash flow and profitability is one thing that should now - hopefully - be upon us - please elaborate at least somewhat on this quickly instead of us waiting for accounts in future etc - please give real colour on this versus planned well developments expenditure, which may gobble all operating cash flow/ profitibility quickly and more too. If no raise is apparantly planned is there a requirement to grow out of borrowing again towards delivering to resource development plans for eg? etc
The micro wins RNS's he posts are useful to an extent only, but there's too little trust left for them to have real effect on the share price imho.. old well performance/declines and overall field declines he avoids addressing.. overall production levels he's really slow to elaborate on....and, verrsus his past performance, the only thing the market can still be is suspicious/concerned ?
Fevertree man- if you go back another couple of years the SP was trading in the 60-70p range and IIRC it even reached 90p. So yes, in the last 15 years the SP has been destroyed. This is primarily due to share dilution.
On the flip side, production has gone from 400 BOPD to circa 4000 BOEPD. 3rd party debt is nearly all paid off. Production costs per barrel have been greatly reduced. PPC has diversified into Gas, and also now renewables (although we don't know quite how/where yet), there's a chance of exploratory drilling in Paraguay, and in the 2H of this year, there's drilling in Argentina.
Looking at the history the SP has performed terribly. But the company is now profitable, and has many irons in the fire to exponentially increase profits, which should make the SP rise significantly. I'm hoping in 18 months time this company is in a very different situation, and the SP is well into double-digits. Need quite a few things to go right for that to happen of course, but you never know, it might just all work out......
Got to say i agree with both your posts , the history with this company is terrible to say the least but i do believe we are now moving into a totally different phase . As i have posted previously i think having Trafigura involved as a main share holder helps to that affect.
PARAGUAY.....PARAGUAY, the dude has to drill in Paraguay in order to save this Mickey Mouse company with all of their old work-over wells which has no impression upon any stock market. So this is what we get.....a 2 penny stock and 2B outstanding shares.
When I pop onto the President website and see this bull*** strapline it makes me bloody angry and sickened me: " Delivering Sustainable Value Growth in Latin America".
Our esteemed CHairman/CEO has destroyed shareholder value on any time period you care to use. I fail to see how people on here can think he is doing a good job!!! Just look at the facts!!!
Share Price 10 Years Ago (25 May 2011) closing price 20.5p
Share Price 5 Years Ago (18 may 2016) closing price 7.5p
Share price 3 years Ago (18 May 2018) closing price 10.25p
Share Price 1 year Ago (18 May 2020) closing price 1.68p
Share Price 6 months Ago (18 Nov 2020) closing price 1.60p
Share Price 3 months Ago (18 Feb 2021) closing price 2.70p
Share Price 1month Ago (19 Apr 2021) closing price 2.35p
Share Price today: (18 May 2021) closing price 2.15p