Member Info for BaysilHope

Am looking at your links - many thx, great help - A very nice surprise and under selling by PPC. GL GN

I'm to bed - Last point you can understand Gonzo relinquishing Pirity 2015 with P)V stock market pressure knowing he has 90% D block up his sleeve, cross reservoirs etc ect .second chance - No longer in Petro Victory Mkt mode but Gonzo personal involvement . IMHO I think its Godzilla & Kong are fighting it out now and there is a common green space of commercialism to view - watch this space next 3 months before we start drilling in Paraguay. GN I hope common sense prevails and good news + SP XXXXx

Sorry about the Paraguay game loony toons - I totally agree Brasso ARG is a cash flow life line with very real potential and will at some $58/ bpd give profit and Reserves increases as you say. I'm on your side totally. Please let the SP have a good run, we've all been here for too long. Always appreciate your views Bays. GL Thx for your time.

Alexander the Great - battle of Gaugamela 331BC out numbered - used the enemy's weight of numbers against itself and won . IMH PL has used the opposition greed the same way 10:90% . D block was given a 4 yr extension to 2008 the fact 'HE'' sold 64% Pirirty & then held 90% of cross borders reservoir areas - the opposition held court, Until there was NO licence extension - -commercial opportunity now Gonzo limited time to hold fort or relinquish that's we held our 10% - the reality of low oil and lack of their independent income streams for PV & Gonzo - gave PL a window - that distracted PPC from normal business models. You must chase down the deal for long term value corrections. We are starting back on track +9p mega happy. This feels like a start - hope it may continue. GL

Last Last point - it's not as simple as walk away from D block, I think PL has taken the Pxxxxxxx really telling us the shareholders have paid for 2 drills in joint reservoirs and he's walking away for no good reason explained . Can't leave Demattei to our competitors of Boris Johnson type antics. In a perfect world PPC started with 64% Pirity and 10% D block, with great skill a business objective would be 100% x 2 we have the first good luck PL. As I tried to say then we have Paraguay, we don't at the moment - need to deal with this and get it sorted. Gonzo needs the cash- we need the clarity and combined unencumbered reserves. P D & H block. Soon.

Last point - why drill 2 wells straddling your weakest WI concession D block 10 % with on going $40m add ons Here endeth the lesson - when they seriously impact you NAV unless there is a plan. HNY GN Loving it, GL PL. We gained Pirity fingers crossed.

Hi Brasso, going to the Gaffney Cline Paraguay Report 2014' The Jacaranda Paleozoic Prospect lies across the Pirity and Demattei licence boundary. As currently mapped the mean case trap geometry is 35% Pirity & 65% Demattei. As we all know come to any Farm in in pirity Gonzo will play up. Bad neighbour always Fx the deal. In this Case with Jac 1 Demattei is +65% of the potential olL in my mind is targeting D block as a second curve whilst the primary is ARG Cashflow . We all know Petro Victory cash flow I think PL will do a Miss Marple. When the ompetition is weak then you strike the best bargains. PL has dumped the 90% WI on Gonzo Who does not have the £$40 E & P IMHO - it is an oppo PL will not allow to pass. Get marriage value of the land clear any joint reservoir issues - and take a competitor and potential bad neighbour out n one go. Cant let this pass surely GL GN HNY

Agreed 1st 7 drills hit Oil with IEC in Russia Co had 100% of the land - and then 2 Paraguay dusters?? Why the inaccuracy !! Maybe the commercial oil find was not the primary objective in hindsight in Paraguay but understanding the topography! If this was not the first objective - then research by drill and then succeed in the much more important longer term territory negotiation - in terms of Territory the gains outweigh the dusters - . IMO PL exacted acute management skills getting 100% of Pirirty for $500k genius saving potentially 360MMB sacrificed research and a longer timeline for the concession. Given his background and knowledge for him to fight off Gonzo and risk getting thrown out of Paraguay 12mths ago - IMO there is commercial Oil there is no doubt. IMHO 100% of Pirirty is a better result than finding 1st Oil. Then take H Block which is huge after we earned the 80% and new concessions plus with government backing and term extensions. I think Demattei is next. PL In Russia I think he had 100% different game timeline and to prove a concept quickly. ARG agreed - IMO is only a potential cash cow for exploration in Paraguay. Our SP is suffering from the land execution deals rather than first oil - in the longer term the various Land deals + 100% concession gain outweights a 1kbpd short term. As I said before Land is the key and the gains PL has made last 15mths make a joke of the SP. It is relatively easy to fund additional drill and produce and so on. Quality prospective Land (In a very competitive market) is the most difficult acquisition and tenure - and PL has given PPC ' A very Cheap entrance level opportunities in Paraguay & Arg)' - which is the KEY to the next 10 years!! There is now a concise viable platform from which to produce Oil - at varying levels & markets only the speed of which is dictated to by Money and the amount thereof. Ask the Duke of Westminster if he wants to sell any. HNY GL. I disagree about the success last 5 years - yes in the SP but I think our potential Oil & Gas reserves could be larger than IEC 2008 and will value up in a recovered oil market 2019 which should be less challenging. I share the frustration - I think we are one more deal away Demattei and Paraguay is sown up ( Cross licence reservoirs) - news next 2 mths I guess. forget the shale - first get prod'n up in ARG to finance New Exploration drilling in Paraguay. IMO PL is working to a clear plan, from which in time we gain, its for the brave, patient and the crazy. GL

Thx Aparky -as an aside news on OBA soon AMER. Very briefly where I failed last night quickly -for many reasons PL has in past implemented everything skill in developing a E & P Co - Drilling/Pipeline In Country Bank Low Oil/ Credit Crunch/ Concession Deals /Disputes and so on - in Imperial - bodes well for PPC - his undoubted experience reliving the same tasks in a new guise, new territory, only more rewarding - and its not Siberia!!.. Events 2008 cut short his potential and MKt Cap hence measured approach today, Banks showed their true colours withdrew support 2008 - going forward not Venture Caps in PPC as in IEC 2008 but long term investors 2012-16 IFC . As with any business the rate of growth (depending the Mkt ) relies on available cash for Investment. The Good news PL is the Bank short term - pace slow but no dilution or loss of control. Phase II - I guess IMO IFC RBL once we've proved production and go forward. IMO PL sold IEC it was an incomplete project failed on production targets revenue profits - now these can be put right and with the NEW 2nd Chance PPC SP 7p and not £16/share with Imperial - enjoy the growth train at a slower but known controllable space without the Bank Monkeys diving for profit or pixxing with funding. GN PS Oil is only going 'One Way Baby next 3 years albeit slow hence PL no rush GN Hope this help will be quiet for a month. HNY

Imperial Energy See last 10 posts make no sense unless read last to forward or give up - but PL view. Caine: Is it good to seek the past, Master Po? Does it not rob the present? - See Rights Issue 2008 and make amend Master Po: If a man dwells on the past, then he robs the present. But if a man ignores the past, he may rob the future. The seeds of our destiny are nurtured by the roots of our past. Yes Grasshopper and so it is with PL - he must seek his roots and from which • we learn to frack with grace and self-control. This teaches us suppleness and rhythmic endurance. The praying mantis teaches us horizontal drilling in well and with much patience. And from the work over , tenacity and power. And from the Placing we learn to ride the wind., ignore the media and take another hit on the chin - & from my shareholding we learn the tortoise 100 yr lifespan. and is full of crap. GN . When you can take this share from my hand - it is time for you to leave. GN GL

PL Imperial Energy history - Same thread couldn't get to the bottom of PL' s 6% Imperial Oil 2004-09 Read this and it does give a clear Modus Operandi to PL new- I think it describes his reinforcing buy in motives where he sold as before - it is now his baby not before. Interesting I think - sorry if not. game structure Quote 'Chairman re-invests £19m in Imperial 17 Apr 2008 . The chairman of oil explorer Imperial Energy, Peter Levine, is re-investing £19m in the company just three months after taking out £25m (mega syn-nacle selling at £16 buying at £6 Bad Boy!!!!) .. Mr Levine said yesterday that he would subscribe to a heavily discounted rights issue at £6 a share. In January, the founder of Imperial sold a third of his stake for £16.75 a share. Imperial launched a rights issue after plans to raise money in the debt markets failed because of the credit crisis. The company unveiled details of the issue yesterday, saying that it planned to raise £306m before expenses to use for debt repayments and to fund further oil exploration in Siberia. At £6 a share, the one-for-one rights issues price is a 41pc discount to Imperial's close on Tuesday of £10.26. When Imperial announced two weeks ago that it needed an equity issue, shares in the FTSE 250 company plunged 29pc to 899p. Mr Levine said yesterday that he was under no pressure from Imperial's big shareholders to subscribe to the issue, saying: "No one has asked me to do this." He added that it "demonstrates I have a huge amount of faith in the company's future". Mr Levine, who owns 6.1pc of Imperial, is taking up his full subscription and will buy 3.14m shares. The company's shares closed down 35p at 991p yesterday. The shares stood at £18.14 on January 14, but have fallen amid concerns about Imperial's ability to meet a £100m debt repayment. Mr Levine said Imperial now had enough money to meet the repayment and finance its exploration programme. "With the proceeds of the fully underwritten rights issue, the company will be fully funded to the time when it is expected to be cash flow positive, and strongly capitalised and the proceeds of the rights issue will mean that the company will be free of all bank debt." Imperial reported a pre-tax loss of $41.9m (£20m) in 2007, against a loss of $14.3m the previous year. Revenue grew to $19.9m from $3.1m on the back of higher oil prices. Great Insight in my mind and will shape future events - $25m take out error & understands Bank Wxxxability. That's it hope this helps - it is not mad up crap - all quotes verbatim unlike the Tory leadership.

Falling back on earlier thread PL has massive experience of Credit Crunch issues - lack of liquidity Quote Rights Issue 2008 Sorry for the editing - But makes a clear point .' Imperial resorts to emergency rights issue Shares nosedive as Russia-focused company feels credit pinch, writes Helen Power 2008.Imperial Energy shares have plummeted after the company conceded it has been forced to embark on an emergency rights issue because the debt markets have seized up. The Russia-focused oil company said it had signed an irrevocable standby share underwriting facility with Merrill Lynch and ABN Amro's Hoare Govett for a $600m (£300m) share issue. The market believes the issue will be deeply discounted and shares in Imperial plunged by 367, or 29pc, to 900p a share.The company's chairman, Peter Levine, blamed Imperial's inability to secure a refinancing deal on the credit crunch. "Bank debt was not available on what we would consider to be appropriate terms and in the quantity we needed to take us forward to a position where we are cash-positive," said Mr Levine. The company said its relatively short history of production also made it harder to raise debt finance on good terms. Mr Levine refused to comment on whether the rights issue will be discounted, saying price has not yet been discussed. "The reaction of the market is exaggerated by the mischievousness - mischievousness within the boundaries of proper dealing - by hedge funds," Mr Levine said. Mr Levine said he will discuss share price with Imperial's key shareholder in the run-up to the issue, adding that they have been supportive of the company's decision to turn to the equity markets. Imperial's move is one of the first examples of the credit crunch hitting the oil and gas sector. History repeating itself except our Main Shareholder is the Bank - great news -MM's build in FFS HNY Come PL second chance son drill it baby.

Sorry last point - note the movement towards new funding = a proportion of CLN's keeping 23% ownership in touch - to be fair PL excluded himself from last Option scheme. Given RBL funding is 12 mths away for most of the industry PL can/will progress on both fronts with convertible loans . His team has massive experience of all disciplines and In Country negotiations and time scales - a huge skill which is new to me - so progress builds at his mega controlled pace - whilst territory games play out. GL GN last post. I have a warm feeling in my pants - its In Continent', so to speak.

IMHO PL did the quick sale with 6% in a market downturn 2008-9 with ONGC £1.4bn, this time he is in control with IFC - executed everthing 'In Country' drilling rig ownership & In Country team (Same Arg 2016) pipeline $600m rights issue in April 2008 diluted his share massively. As stated earlier PL is now on the Tube first class with a Zone 7 ticket train in station, Oil will recover so will RBL and his global major oil contacts are always in the background. No rush - slow build at a comfortable pace and Max Value IMO target FTSE 250 and gain 25% of +£1bn even if it takes 5 years and squeeze out everything - good enough for me, there's not many Paraguay oppos or Arg left no rush. I'm in. GN GL

The Indians have shrugged off challenges from China's Sinopec and KNOC of Korea. The FTSE 250 firm has 450m barrels of Russian registered reserves, according to a July company statement.

RNS Post 2006-7 Since commencing operations in 2004, IEC has launched production of crude from a number of newly completed wells at its Nord Imperial subsidiary, where production now exceeds 2.2mbpd. The first horizontal well recently completed at Maiskaya prospect flows at a respectable 1.5mbpd, well above the rates seen from vertical wells. The company projects production of 20mbpd in 2008 and around 30mbpd by 2010. Sept 09

2005-08 Imperial built many pipelines in Russia - and ran its own Rig business. Imperial Energy, the oil company, today announces the successful completion of the laying of its two pipelines in the Tomsk Region, Western Siberia. The laying of the two pipelines, a total of 208km in length, is a major step towards being able to deliver on Imperial’s planned production target of 6,000bopd by end of summer 2007.

Imperial Energy Signs Contract to Purchase three Rigs and Announces Senior Appointments/Board Change. A new experienced management team for RIG, has been recruited and has already started work, all based in Tomsk. Senior Appointment/Board Change Imperial has appointed Vladimir Shaftelski (59) as General Director of its Tomsk registered subsidiaries with effect from 1 February 2007. He previously occupied very senior management positions with Tomskneft where he worked for over 24 years as well as the Tomsk subsidiary of ZAO Russneft. In 2006 he was named Oil Man of the Year for the Tomsk Region. Peter Levine, Chairman, commented: We continue to recruit first class in-country professionals and a very experienced team is now in place at the head of Rus Imperial Group as we continue to progress plans for this important new venture. Replaying in ARG Jorge Carlos etc

History does reveal commercial traits and as a relatively new PPC PI I'd thought I would very briefly highlight PL's success in Russia 2004-8 and examine some remarkable similarities persist and may give a deeper motivation as to where PPC's heading. 1st quote .Peter Levine, Chairman and Chief Executive, commented: July 14 2006. “Step by step Imperial continues to make progress both in early production and gaining commendable drilling results from its so far identified fields. In this, the excellent Maiskaya 394 is particularly notable. With some US$200 million of cash as a result of the recent placing, no debt and nil gearing, production and significant exploration upside, we continue to view the future with great confidence, and remain on track to achieve our stated production target of 25,000 bopd by end 2008. ” Stepped approach with production targets. Secondly A successful deal could generate a windfall of nearly £80m for chairman Peter Levine, who founded Imperial Energy in 2004 and owns a 6pc stake. Note only 6%!! is key to me.

So markets collide but PPC trade in $US so the only affect is world wide demand hitting POO. Lest we forget and we are guarantee $58/barrel WOW , the massive global Capex curtailment +500bn and then the Saudi & Russia can't pump much more forget outages. These Mkt short term chancers sway the market as we know, what we look for is true indicators. PPC market is 'In Country' not on a $1bn offshore rig - others can afford that - we can't so I think we've bottomed especially throwing Brexit into the Sp - IMHO our time coming soon. HNY GL Have faith.