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https://www.ft.com/content/e8c4b618-0093-4bc1-ade5-81bd4bf1cbb0
Chevron, Petronas and Shell will be among the international companies to benefit if Argentina’s Vaca Muerta (Dead Cow) petroleum development finally takes off. Gas production “could surge?.?.?.?to make Argentina a rival to Australia and Qatar in the LNG market at a time when demand is growing”
Write up on Argentina by Michael Stott in todays paper, did not realise Sinopec threw the towel in.
I wonder where the share price would be today if we had of just paid off the IYA loan instead of spending $12m+ on these 3 Argentine wells?
I'm pleased we didn't get an update today. A quiet week with two bank holidays would not be good timing.
I'd rather see an update when the markets are in full swing.
Dill
Dissappointed no rns today, but this lot continually dissappoint , as much as they come over as a profesdional crew they are in fact carpegbaggers
Don't forget June! Month of strawberries & cream at Wimbledon, mud & music at Glastonbury, and if FIFA wasn't so corrupt it would also be the start of the World Cup in one of Australia/Japan/US. Anyway.....hopefully in June PPC can give us an RNS confirming the 4 wells in Salta that were coming online in May are now up and running and tell us the flow rates. An update on Paraguay would also be nice, no news there makes me worry the dates are drifting. Hopefully some good news to come....
Q3 stars tomorrow and we move into the news rich period . This small cap O&G has been forgotten by the market but with our PARAGUAY DRILL ,WATER FLOODING PROJECT RIO NEGRO,MARTINEZ DEL TINEO EXPLORATION , ATOM and winter pricing plenty to look forward to . IMO
rns wednesday....
in the last production update PPCstates that there's 300,000 barrels of oil still to be produced, so at 180 bopd that's 4 more years
Believe reserves on this r 7 years as from when 1st bought in back in 2017, raking money in on this with oil prices this level, but will run out 2024,so limited supply
Profit before tax for the first three months of US$5.3 million, after tax US$4.5 million
Personally i think we have plenty to go for in our existing acreages and this years accounts will finally move us forward.
Paraguay drill Q4
WATER FLOODING PROJECT RIO NEGRO
This important project has been planned in detail and discussions with the relevant province are expected shortly whereupon, subject to the Province of Rio Negro approval, commencement of the initial work can be programmed. At the same time the management team, has implemented cost saving initiatives to improve margins in parallel with a fresh look at the principal fields in Rio Negro through external consultants. Whilst this work, as with the water flooding secondary recovery programme will take time for the effects seen, it is believed that all of these efforts will be rewarded in the future and are in the medium to long term interests of the Rio Negro Concessions.
MARTINEZ DEL TINEO EXPLORATION, ARGENTINA
an updated Company internal estimate in 2016 after further geological and geophysical work upgrading those figures to approximately 2.8 Tcf of gas and 69 MMbbls of condensate from two independent formations.
the Martinez del Tineo gas farm out process is now being re-activated with steps to be taken to update the offering and data room and promote the same to the market with such marketing both domestically and internationally likely to commence before the end of Q3 2022.
Needs cash 4 acquisitions, and be in good financial position, as krth said let's see there financial position
Totally agree! I think this share needs all the good news being highlighted all the time. There are a number of potential good things in the company's strategy but personally I would like to see them pick up some assets, even away from Argentina and start to get revenue coming in from those. Some time ago reasonable size acquisitions were talked about but more recently the focus appears to have moved to very slow organic growth. Maybe the right time for a change in strategy . I appreciate what they have done with Atome but that's going to take about 18months before we see meaningful progress - would be good if they can get some more deals in the pipeline too which is probably very achievable.
Atb,
Northern
There has been a zero shares traded day in the last 6-12 months, so close but not quite! Been saying it for a while but I think this needs to have the figures (production and cash arriving into bank) spelt out once there is good news. When that will happen though is the million dollar question..........
Lowest value in trades i can remember , this must be the low. FYR next month might get some interest.
to add some back here around now.. did one top up around 1.55p recently and another one today at 1.57p ish .. but my position is still small here.. and I don't really want to have a decent position here .. BUT... if this goes under 1.50p I'll absolutely add back more again.. and maybe plenty more again..
Including all the bad things i've said about this share over the years.. altogether, 1.55p ish seems awfully low for this around now to me..
IMHO and DYOR
Oil prices look too be reaching New high bodes well 4 Wells louisiana
Lets see what pg13 comes up with in the next few days
All we can do is keep producing oil & gas while the prices are at a record high and the rest will follow (we all hope)!
the news on windfall tax will help here as people look t alternatives to UK producing oilers
2,113,753 sold at 1.505 did the damage today….
steven49 Great to see a comment with decent grammar, maybe AIM but not the wider market UK large caps? Shell Aviva BP HSBC
The answer is to get this sp moving. There's talk of 4.5p yet this share price is slowly drifting down. Doesn't look like people are inspired to buy this stock even at what everyone says is a very low value. Maybe this is the time to buy?
Atb,
Northern
Markets disconnected at moment, real bear market affecting all stocks