Firering Strategic Minerals: From explorer to producer. Watch the video 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.
as already stated by others, no good news there. I thought there was a third drill in Puesto Guardian, something about an agreement to settle old scores? What happened to that?
Just borrowing 4 little reward on earnings, let's P L removed as ceo
The announcement of the Annual Report and Accounts for year-end 2021 will be issued before the end of this month together with an update of current trading with the Annual General Meeting expected to take place in July. LET'S HOPE THIS IS 4 BETTER READING.
well program was over budget and over time, piling on more debt when really should be bringing debt down in these times when oil gas prices high.
So where are we at DP2001 and DP2003 ( and DP 2002.. whatever happened with it ) ?
The first two of these were live testing in Feb/Mar/April I think, and last update - I think - I saw on them was 20th April:
''Testing at wells DP2001/2003 continues to progress, with both already having demonstrated commercial production''
It's now two months further down the line again and they're not even mentioned in this Operations update RNS.
Instead I see a new bond issue for 3.5m usd more debt ??!!
In a ppc balance sheet context, these were expensive wells to begin with.. and are likely over budget now, perhaps way over budget?.. So what's the total expenditure so far on each of these at this stage, please.. and what have the production levels been per well in this - kinda endless - 'live test phase' please ? (And specifics on DP 2002 status too please)
These wells are very material - ie many milions- expenditure for a co the size of ppc.. So, again, what on earth is the current status on these Mr Levine?
Happy to stand corrected on any misunderstanidng / incorrctness in this post ( I don't follow this slock much nowadays etc..)
Generaly, my thoughts at this minute are please not another ppc.l cluster+uck... and thank goodness the price of O&G is high ( not very high alas, as it's Argentina) .. and why do I still even hold this stock.. (out of exasperation, I sold a grands worth at just over 1.50p .. it still feels a bit mad to sell some at this level, granted ....and for all sorts of reasons this could rally from here, granted.. but it could even fall further too, amazingly.... hopefully not for the loing suffering here.. but, at this second, I actually feel pleased to now hold only 3k gbp in this stock.. )
All the doom and gloom, not really......we had an update on DP2001 on the May 13th......"The new well DP2001 has been successfully stimulated as a final part of pre-production testing and is now on stream to the battery. The initial results are encouraging with production estimated at approximately 200 bopd and higher than expected gas which is being used to partially alleviate diesel use and thereby reduce cost in the facility." why update again. ( not a dig at you NicetoMichu )
We have PG13-1 now on production at 200 bopd good news. Realised prices for domestic sale of President's Salta crude continue to increase with prices currently US$66 per barrel, an increase of 12% from the start of the year . More good news.
I like the bond , grab it while they can at 3.89% p.a. interest rate with payments deferred for 16 months. I remember some saying we wouldn't get more updates well that was wrong again. Well done all at PPC.
darientaylor.......Metaphor my dear chap .
fair enough on DP2001 comeonvog .. and I apologise for missing that May update.... and deserve a dig for that, even though you're kindly not giving me one..
DP2003... and clarity on DP2002.. would be nice to know about too.. and total costs situation on the 2 or 3 wells.. total costs versus nett income on oil - and gas - produced from these will be interesting for me .. for payback periods etc..
PS; I said Operational Update RNS in my earlier post .. it wasn't entitled that, in fairness, so my mistake again..
I've not seen anyone question this or provide the reason but it does seem really odd to me that at the moment the company are only getting 66 dollars for a barrel of oil.
Last year they told us for ages that they were carrying out work that would save the company if memory serves me right 4 dollars a barrel. I would have thought with their supposedly very strong relationship with Trafigura that could achieve a much better price than 66 dollars. Am I misunderstanding something?.Surely that would be a great way to add a lot of revenue to the bottom line.
Atb,
Northern