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Hopefully these 3 wells will be in production b4 year end, louisiana with oil prices still high making good contribution too cash, ppc is in far better shape now than has ever been and am confident in time will be reflected in share price,
Not year end may end GLA
Even better than three, it's four new wells that should all be online by end of May. Salta DP2001 & DP2003 and Puesto Guardian PG13-1 and PE-8.
In November 2021 before ATOM, PPC shares were c1.85. We now have 28% of ATOM worth 12.3m and our share price is languishing at 1.72.
It doesn't make sense to me. Ignoring the free shares given to shareholders, is this now a cheap way of buying into ATOM and wait for the market to wake up?
Shoot me down if you wish but I can't work it out.
Dill
It's because the holding company is seen as performing badly or high risk, PPC is a mild mix of both, assets in Argentina don't appear to be giving the returns that they should and a high risk drill, already delayed, due in Paraguay H2. If either those change, full price for Argentina oil and gas or success in Paraguay we're on a winner or if Paraguay is a duster it's going to hurt the sp. I'm hoping we achieve higher argentina oil and gas prices because world events and winter is approaching. A positive is a good management team which why its survived this far.
Not saying it would happen here but its why companies get brought and broken up as the sum of parts is higher than the whole
Ecclescake Let us remember that Paraguay drill is a free carry for PPC Why on a duster would we see it " hurt the sp" when we have no value credited on our SP now.
Yes we will start to see winter pricing for our oil and gas sales, thank goodness for Louisiana .
If the paraquay drill turns out uncomercial it will reflect negatively on the sp justified or not. The cost maybe covered, but success will be transformative so with that upside failure will have a down side the market is not going to shrug it of as no cost. PPC have spent millions on Paraguay surveys, 2 drills I can't check back at the moment but I think that's cost over $30m and because Argentina hasn't supplied the funds shareholders have over several fund raises. Without a plan b the question will be what will the cost be going forward and that will reflect in the sp.
Ecclescake This of course is your opinion, my take on this is we have already been penalised for the delays to Paraguay but it will happen just that we now have to wait till Q4 . You say what is plan B , well we have WATER FLOODING PROJECT RIO NEGRO, MARTINEZ DEL TINEO EXPLORATION, ARGENTINA, ATOM (28%). Plenty going on here and with buoyant hydrocarbons pricing how are we still at only £35 million MC. Lets not forget the Corporate Bond with interest rate 1.24 per cent p.a. very good move to help pay for the recent well's and also production sales at near international levels . It all adds up IMO.
Market cap not include Paraguay drill as of yet, just one off drill that's unlikely too be commercially viable, only reason there going with drill is no real cost too them and wasted much money in pass on drilling Paraguay so may as well see it through,