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Not invested but keeps spending time knocking the company instead of spending the time researching this and other companies. Enough said as far as I’m concerned
Where steven49 is coming from. As far as I'm aware he sold his shares in this company some time ago but constantly comes on to the board with comments about the poor performance of the company. Admittedly the sp is low but I believe it is undervalued - Argentina production has now steadied the shop and there are still some potentially good drills and other prospects to come.
Am I being too positive? Or is there not much potential here now?
Atb,
Northern
External interest and Argentina realising the oil & gas production is helping with its financial woes.
https://oilprice.com/Energy/Crude-Oil/Vaca-Muertas-Sweet-Crude-Attracts-Global-Energy-Giants.amp.html
Haven’t found the site Pp gets the figures from but they can be viewed on the following link around this time each month.
https://www.energia.gob.ar/contenidos/archivos/Reorganizacion/informacion_del_mercado/mercado_hidrocarburos/tablas_dinamicas/upstream/sescoweb_produccion.zip
Yes give it too peter his grafter tried everything but argentina proved not great country invest in, trying different options invest in, atom still at its placement price,
Piperpeter: REPORTE DE PRODUCCION.
PRESIDENT PETROLEUM S.A.
NEQUINA + NOROESTE.
Enero '23......Petroleo 6.293,033 [m3]
Febrero '23....Petroleo 5.591,383 [m3]
Marzo '23......Petroleo 5.605,134 [m3]
Abril '23......Petroleo 5.800,013 [m3]
Mayo '23.......Petroleo 6.312,953 [m3]
Junio '23......Petroleo 5.875,235 [m3]
Julio '23......Petroleo 6.362,049 [m3]
Enero '23......Gas 2.618,383 [Miles de m3]
Febrero '23....Gas 2.632,217 [Miles de m3]
Marzo '23......Gas 2.817,480 [Miles de m3]
Abril '23......Gas 2.290,194 [Miles de m3]
Mayo '23.......Gas 2.111,117 [Miles de m3]
Junio '23......Gas 1.942,760 [Miles de m3]
Julio '23......Gas 1.986,551 [Miles de m3]
Beware dots and commas!
Equates to approximately 40,081 barrels of oil for the month of July.
Plus approximately 70 million cubic feet of gas for the month of July.
Pp
Can’t be un investable steven49 as I have investments in both countries, I’m sure you meant MEN is just not for you anymore ;-)
I agree track record not great for PPC/MEN, but at least PL is trying to turn this around and not giving up on his med to longer term strategy. Even changing strategies.
I do tend to back proven successful entrepreneurs with plenty of skin in the game. Past achievements are not to be ignored, done it once before, can do it again.
Let’s see….
Spudding is targeted to occur at or around the end of August or beginning of September. news next week mayb got feeling will be delays, no real appetite 4 this drill at moment, possible reason its in Paraguay and levine has poor record, last straw 4 him, been disaster company 4 him, Argentina, Paraguay both un investable countries
This is my main frustration, that clearly PL has the money and probably many established contacts, plus access to new contacts related to new target businesses. When will the city get on board, I am, I see it. Assuming it's just me when looking at the current share price!
I have my % holding now - so more than happy to wait and see what materialises - it may not be walk in the park, but happy to see where this goes for now...
Great successful story back in the day: £2m (Aim) to £1.4billion (FTSE 250) in just 4 years... Please sir can we have we have some more of this!
He's done it before, maybe he's trying to do this again - bloody hope so, considering my % holding!
I know the past is the past, but clearly PL is looking for more of the same with his new stucture!
See below
Peter Levine, the founder and chairman of Imperial, stands to make £90m from his 6.1% stake and share options.
Levine said the offer reflected a "fair value" and was a premium of 62% on Imperial's share price the day before it revealed it had received an approach. The group has grown rapidly from an Aim-listed firm worth £2m in 2004 to a FTSE 250 company.
Thanks, but I don't have this facility with my broker, cant even place a limit order with MEN stock.
I was just placing a dummy trade to see how the price is behaving as I have the % holding I was looking for. Now just waiting for expected news, which is due any time now!
Last year on 12 August was the 'President Energy PLC H1 Argentina Financial Results' so this should also be due at some point very soon!
When it’s like this try a fill or kill. If they decline at the offer try 1p more and so on till it gets filled. I got some before they turned the tap off.
I stand corrected - I can actually buy a staggering ‘2’ shares!!
Not sure what would happen to the share price if any good/encouraging news was finally released. Can’t buy any when placing a dummy buy trade. MM’s need to sort this - been like this for most of the morning, unless it’s just my broker!
Yes, lots to look forward to with MEN. The spud brigade don’t seem to be interested with MEN at all! That may change at actual spud, but clearly no pre spud noise for MEN. Maybe if this was a wild cat drill and was all or nothing with no other business it would be worth x 4 where the SP is about now!
If you search Proactive Investors for President Energy there is a good article about Martinez del Tineo from around January 2012!
At least now the drilling is slowly coming back on to the horizon.
Atb,
Northern
Lots of opportunities with MEN at the moment. Considering the current MC and ATOM holding , this is just crazy. But as i said before, maybe PL has totally lost touch with the city boys & girls etc...
Also, have a feeling that Argentina is just holding its own, by design, re costs v profits, so that they don't get taxed ridiculously high on any profits (similar to the current uk taxation with O & G) why pump the oil and gas now with high profit taxes, just leave in the ground for later when, hopefully, things are that so much better. Plenty of mention of the up and coming elections in RNS!
Anyway, if the share price remains this low, I might put a bid in for the entire company (only joking!) or am I.... :-)
I believe they are going to drill Martinez del Tineo towards the end of this year. Formerly they were looking for a partner to drill this but now are going it alone and I seem to remember it's quite a sizeable prospect.
Atb,
Northern
It is exceedingly long time since I last saw that against President/Molceluar.
Hope for more tomorrow
It’s as if you wrote that post for me!
I’ve been slowly increasing my position here - on the basis on expected news flow from many angles - been buying between 1.20 & 1.30 for a few weeks now and happy to take on more if it reduces to 1.20 area! Looking forward to seeing if the spud creates any interest (if still on time), but luckily this isn’t about one spud/drill here - many angles and so undervalued IMO!
Clearly there is no value attached to MEN MC for the ATOM holding.
Atom SP has dropped quite a bit recently and MEN just continues around 1.20 to 1.30 range. In fact I can’t work out what is valuing MEN as the Paraguay drill doesn’t seem to matter either. Assuming the high debt is the drag, be nice if we had some idea on the size of the debt reduction mentioned in the RNS a little while ago!