Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Quite an investment in the wells considering its only $67 a barrel, I guess the range figure is so wide as they remain troublesome.
Quite a way below expections then! No wonder they were keeping quiet. They are only announcing this now as they will be forced to release Argentina figures next month due to the bond committments.
'The three new wells at the Puesto Guardian Concession, Salta Province, Argentina are all on stream and each producing in the range of 125-185 barrels of oil per day.'
22nd Sept 2021 RNS:-
'Each well is estimated to cost US$3.5 million and have a drilling time of 45 days with a mean success case initial projected oil production of 40 m(3) /d (250 bopd).'
I use to trade this stock take my 20 percents on it as was easy to get small profit over a few months. I look at this company now and its rudderless .
Lithium now huh !
Will take years that project and still waiting on Paraguay.
Do we still produce gas? No figures and from recollection quite a bit was spent on "Gas" (drilling & pipeline) in the recent years
that President Energy is still worth buying at these low share prices. Interest seems to be drying up 're volumes bought of the share. No news 're Paraguay today either.
Atb,
Northern
Lol.. lots of **** stirrers here.... nothing wrong with this .
Argentina are all on stream and each producing in the range of 125-185 barrels of oil per day.
That rns this morning is nothing short of pathetic.
Production in Argentina is ' somewhere' between 125 185 bopd.. seriously, can't you take Total barrels produced in a month and divide by 30 and give a precise number, how come companies producing 1000"s of bpd can do that but yhis tiny one. Lousisiana.... no production numbers at all. Does levine even give a toss.. pi55 poor performance, what a carpetbagger
23rd May 2019
In Paraguay, the farm-out process continues whilst preparations are underway in any event to enable drilling operations to commence at Delray Main in late Q4 2019 or Q1 2020
30th September 2019
It remains the intention that exploration drilling will commence in 2020.
22nd June 2020
The planned drilling in Paraguay scheduled for 2020 has been deferred into 2021.
26th August 2020
There is of course no guarantee that such discussions will result in mutually agreeable definitive agreements being signed but, in the event they do so proceed positively, it is currently anticipated that definitive agreements would be concluded before the end of this current year with commencement of drilling during 2021
26th October 2020
Farm out discussions in relation to the Pirity Concession, Paraguay are continuing with a national oil company with a view to drilling an exploration well at the Delray complex of prospects next year.
22nd February 2021
Paraguay farm-in discussions ongoing, targeting completion during H1. Initial well planning to drill the high impact Delray complex exploration well within next 12 months
24th August 2021
Drilling is expected to commence in the first half of 2022 at the high impact Delray complex of prospects internally estimated to contain 230 MMbo of unrisked oil in place.
Ntm
A paragraph from the latest rns.
'GH will consider in each SPV the various monetization possibilities of the equivalent of farm out, joint venturing, venture capital / private equity funding or IPO'
Regards
Dill
So they generated $34m in revenue in 2021 but still needed an additional $13m in debt to cover CAPEX.
You know why , the gas well's were a disaster 2020/21. Time to move on, you will have to let go at some point.
They raised $9m in 2021 and $4m in 2022 through bonds. The 3 well drilling programme in Argentina was supposed to cost $10.5m. It does not add up I am afraid. So where is all the cashflow from 2021 FY and 2022 H1?
You know why , all the drilling these last two years during Covid.
If PPC is profitable why has total debt increased to $33m?
Stop it Brasso3 , no need for a placing we are profitable and starting to build cash reserves.
"turnover projected for 2022 at over US$40 million and significant current operating profits, material exploration opportunities as well as the 28% investment interest in ATOME."
"Whilst it is intended that GH will initially be seeded by President in each of its businesses, subsequent material funding will be determined by the specific needs and characteristics of the relevant business. GH will consider in each SPV the various monetization possibilities of the equivalent of farm out, joint venturing, venture capital / private equity funding or IPO. This will provide flexibility to GH to both mobilise and/or release capital in due course. The structure will also facilitate the ability of the Group to divest itself of any appropriate component parts to the benefit of President shareholders."
Consolidation then placings...
as to how the enlarged group will be funded - presumably the two existing parts will finance themselves but how will the Lithium exploration and deals work, how will these be funded and how does that for in with the consolidation - presumably this will be made clear to us in time but not clear to me at the moment.
Atb,
Northern
Auto correct kicked in , levine of vourse
Levington is the best carpetbagger on aim, best I can say
Assuming now would be a good time for an interview and a little bit of PR?
https://www.fastmarkets.com/insights/argentina-doubles-down-on-lithium-to-meet-surging-global-demand
Interesting RNS today - I wonder why this wasn't announced on Friday at the AGM.
Think this may start to rise a little each day as investors weigh up the opportunities that may be involved here, PPC is a good price to have a go at new venture growth opportunities backed with O & G revenue and profit - I would say it's a good bet TBH. Still seems the seller is still out there, selling into to any rise to try and keep this down as best they can!
An investor/trader purchased 1m shares at 8.05 at 1.35 this am, only for 1m to sold a few minutes later at 1.26 - let's see what happens in the next few weeks to the SP and the trades...
PL made a comment re the small share volumes moving the SP. It easy to resolve, just need a few big buys and this should start off the upward trend.
Good luck All...
Have take risk sometimes, think he was hoping argentina would turn around as an economy but just has not happened, inflation touching on 70% and in danger of defaulting on IMF loan, basket case of a country.
Well well well the guy hasn't even got the cahones to stand up and admit he has made a complete and utterly f#%@ up of ppc, so the city have sent him running with his tail between his legs.
Consolidations never end up going well, they had one years ago and look how well that ended up.
As for lithium, that will not happen overnight, take a look at kzg and they have it in abundance as well as tantalum.
Atome not attributed to sp, its worth nothing until its actually producing something, delusion on a grand scale.
At least I called one thing right over the years, surprised he even had the gaul to stand for re election.
Could he use these bonds too finance these new projects