Member Info for BaysilHope

What do I fear? Myself? There’s none else by. Richard loves Richard; that is, I and I. Is there a murderer here? No. Yes, I am. Then fly! What, from myself? Great reason why: Lest I revenge. What, myself upon myself? Alack, I love myself. Wherefore? For any good That I myself have done unto myself? O, no! Alas, I rather hate myself For hateful deeds committed by myself. I am a villain. Yet I lie. I am not. AND Fool, of thyself speak well. Fool, do not flatter: My conscience hath a thousand several tongues, And every tongue brings in a several tale, And every tale condemns me for a villain. Perjury, perjury, in the highest degree; Murder, stern murder, in the direst degree; All several sins, all used in each degree, Throng to the bar, crying all, “Guilty! guilty!” I shall despair. There is no creature loves me, And if I die no soul will pity me. And wherefore should they, since that I myself Find in myself no pity to myself?” GL HNY FFS self inflicted.7p ******xxx

“Now is the winter of our discontent Made glorious summer by this sun of York; And all the clouds that lour'd upon our house In the deep bosom of the ocean buried.”

Thanks CJ appreciate that, one thing I forgot to mention PPC can handle 6k bofpb this will have to increase proportionately inline with more drilling and prod'n capacity brought online. This will naturally limit the rate of expansion reinforcing the controlled slightly slower pace. Probably why PL put the loans out to 2019 and as prod'n gets thru 1kbpd operating free cash will be sufficient to sustain progressive managed growth for both Capex disciplines whilst a static US helps cover G&A. If PPC averaged 500k H1 we should show a modest Interim trading profit with a large fall off in G&A despite the collapse of Oil to $26-8/b in Jan-Feb not bad EH! GN Tonight is Sport.

Over the last 2 years I thought maybe PPC were well on the fast track, on the District Line to South Kensington in a 24 mth journey , I have now revised the plan - the tube goes a lot further to Upminster which by definition is a much longer profitable journey, totally more rewarding and there are many refreshments on the route. With a known route you can potentially plan your stops, so to speak. HNY GN

One point I did get across, the +500bpd extra production for 3 wells is ridiculously understated, especially when you insert a 500m horizontal drill per well , if you think a vertical well in a 50m payzone is producing 30bpd, then a revamp should get +250bpd executed correctly. Secondly, IMO how can you state in 20 RNS's that you will make MATERIAL INCREASES in production with such a whimpering first statement. So if we get +1250bpd plus 200 from Louisianna with Oil now $50 PPC is nearly 1500bpd , AMER is 5,000 yet they are 10 times our MKT Cap, another 6 wells by May 17 and it's a game changer. At 1500bpd PPC makes say $15m profit (Free cashflow) with a massively reduced G & A, which I think maybe overdone in the UK to make room in Country ARG. GN Sorry if I've missed something - From an investment point of View I prefer - The Rhythmic pace of Bolero and the mood change of Elgar's Nimrod Variations, rather than the immediate uncontrollable impact of 'Welcome to the Jungle'. GN Last post messenger dead. Did enjoy it though.

PPC still needs work to perfect its exposure in ARG & Paraguay. ARG needs pure operating investment to tempt more risky JV's such as MDT. IMO given the current limited state of BOD resources and senior management - more risky plays are over a 12mth off, and allows for stronger negotiations, so IMO next 12 mths action - are low risk prod'n drilling and value for money. Paraguay Demattei needs to be sorted, which is in essence a time line stand off and a timescale well before 2017 Paraguay drilling campaign. New concessions will need attention next 6-9mths so there is no need to posture and court partnerships, +1kbpd company cash flow is +ve, making profit and gaining operational expertise for further expansion. Future partnerships could be peer group or Global or a stepped approach to progress with both.

I did not realise when PL sold Imp Energy for $1.4bn (He only got $90m) they were in negotiations with Gazprom Russia & Sinopec of China, these are not Gonzo type entities, so when discussions revolve around government level - PL can turn heads with his contact base and medium term potential. What I really genuinely admire is his financial discipline. How our man can exhaust the same effort on a $500k deal as $1.4bn. IMO I think PL is looking to massively improve on before with a far bigger slice of a larger cake and a second cherry, but it will take time. GL GN

The most important thing I perceived from the meeting was the pace at which the company will move forward. That is first evidenced by the limited element of NEW funding +$6m and the cautious expectation of production growth+1,000 bpd. Having time to think it through the following points are important to long term investors and are based solely on my guesswork/observations/Discussions. Why is the production start up pace so slow? 1. PPC are team building in ARG - they are a new team, limited management resources - IMO is part of why PL is out there and needs Jorge input. 2. Limited funding - is a firm budgetary control directive when management resources are untested and limited. 3. Horizontal Drilling is a new untested engineering technique in PG, with an untested In House, In Country team, hence play down expectations of production & allow for initial start up inefficiencies - then move on. 4. Slower pace of growth is easier to control whilst there are no timeline urgency events 5. As In House expertise develops inline with cash flow - step by step incremental drilling can happen - there is a drilling rank list and the future rate of change can accelerate. 6. Found out the RBL lending market is still on the back burner - needs +9mths time. 7. POO will firm in the next 9 mths and will funding 8. Paraguay needs little attention for 9 mths 9. Leaves time to negotiate Demattei from a pure PPC stand point excluding all others. 10. Profitable cashflow +500bpb and growing trading profits ensue so the SP should be OK 11. Increasing output should help reserves Mkt valuation 12. Argentine liquidity and transference to Emergent Market status 9 mths away. It all makes sense to align the companies trading profile to these partnering time line projects & processes and marry the pace of change to available resources. IMO we've now left the Car park and we are definitely on the tube. The train won't start running until the first drilling results happen. Once moving (with all the tailwinds adding momentum) PPC faithful should be rewarded. GL GN

Sorry if last post sounded -ve - the transition from Exploration to a more production based model - takes cash and effort, what I will next update is on is potential partnering - don't want the BB depressed there's lots to look up to need realtistic time frames. Last post.

One mjor great point I learned by the visit. I always(mistakenly thought the ARG 90% Discount on P1 Reserves) was sley due to Frontier status/Dollar Clamp capital control ARG Debt defaults and so on. BUT. What was made clear is self evident ( I over looked because of reading TOO much into the Gaffney lets take 4kbpd for granted) if you have 11m barrels of oil reserves and are producing 500bpd it would take 50 years to dent it, so discounted cashflows valuation models fail so PPC are -vely hit by both models 'In country & Token output. Hence attack operational output - I'll comment on the get it over a 1kbpd tmz, did get ask. GN

Was there, as promised, I've just got back after prayers at St Paul's (to give ARG emergent financial status in 2017 advancing from frontier) and then the Severn bridge jet lag has hit me. I thought chancery Lane was an online betting game . PL rather than wear the same shirt - was not there but transformed into a small black phone on a conference call from ARG. Some good questions asked . 1. I did speak briefly to Board members & then the operating accountant at length who is a real gent and all NON price sensitive stuff to get a deeper insight into the 2015 accounts - which is our right . . I have to go to bed now and dictate the experience which will unfold in due course. 2. I miss read the RNS which appeared to say +$20m extra funding - it has taken me a day to get over it - I did find my pants. 3. PPC & all the Brokers RNS interpretation?? - Why do they start with Loan Restructuring? sounds like a Creditors Voluntary Arrangement and NOT to SAY PL is advancing $6m new money for output GROWTH FFS I'll get the points for this week. Thanks the BB it will be a slow burn but surely upward. I'm BXXxxcks the cycling killed me. GL GN Baysil.

Brexit no brexit sad the quality of debate failures both sides - GN John Charles playin in Europe in the 60's Great song 16 Ton. You load sixteen tons, what do you get Another day older and deeper in debt Saint Peter (PL ) don't you call me 'cause I can't go I owe my soul to the company store GN.

Last point - PPC hunter sacrificing short term gains to develop long term deep field gains allowing a liquid partner to dove tail and exploit for mutual benefit. PPC shareholders have endured the worst H1 RNS outflow and stunted range capped the Sp. Blocked by POO, ill-liquidity in ARG dollar Clamp, Paraguay disputes investment limited options to work overs as ARG Capital controls. All these factors are receding where's the SP bounce post Brexit. GN

Sorry for the HFD mid summer solstice - bottom line if PPC & AMER ever get together (Shared Paraguay concessions) with a domestic market needing 30k bpd onshore low cost low tax then both companies (Assuming PPC develop ARG same time) SP will be nearly be +$1bn Mkt Cap each H! for PPC as all liquidity oppositions curtailed, POO, Paraguay Disputes, ARG Dollar Clamp, frontier status undervaluing our NPV and limited to work-overs to get 500bpd.If PPC start drilling and can take the cash from ARG to Paraguay game over - we win. GL GN HNY.x

HFD My favourite band -when Aspirationsl and work load does not meet achievement. Quote My favourite track maybe 40 yrs old does not age. Wheels Of Confusion Long ago I wandered through my mind In the land of fairy tales and stories Lost in happiness I had no fears Innocence and love was all I knew Was it illusion? Soon the days went passing into years Happiness just didn't come so easy Life was born of fairy tales and daydreams Innocence was just another word Was it illusion? Lost in the wheels of confusion Running through furnace of tears Eyes full of angered illusion Hiding in everyday fears So I found that life is just a game But you know there's never been a winner Try your hardest, just to be a loser The world will still be turning when you're gone Yeah when you're gone! Amen & an Omen for brilliant times ahead. GL We've turned.

Sorry Fathers Day must have a comedic outburst - My favourite Kung Fu series should have been with the Great Bruce Lee ( not David Carridene) but they needed a Yank wh ended up dying in a >>>>> Quote & adjusted for Oil. Caine (Grasshopper): Is it good that OPEC Disintegrate? Is $50 Oil the way forward master – onshore low production cost with side track drilling? Or? Master Po? Does it not rob the investment of the present and the future of skilled work? Brexit – Master Po is it time to leave? As no two elements of nature are in conflict so when we perceive the ways of nature, we remove conflict within ourselves and discover a harmony of body. ► ‘Of all things, to live in darkness must be the worst.’ -Young Caine ‘Fear (Brexit) is the only darkness.’ -Master Po ‘Never assume that because a man has no eyes, he cannot see.’ -Master Po ‘Close your eyes. What do you hear?’ -Master Po ‘I hear the water. I hear the birds.’ -Young Caine ‘Do you hear your own heartbeat?’ -Master Po ‘No.’ -Young Caine ‘Do you hear the grasshopper which at your feet?’ -Master Po ‘Old Man, how is it that you hear these things?’ -Young Caine ‘Young Man, how is it that you do not?’ -Master Po. I do not have Sky sports or a Galacxy 27 ipad. Those were the days of great ignorance.. Great TV if a little stunted.

Moulder & Fox X files conspiracy - why raise $35m Amerisur Mar 16 - accelerate Paraguay drilling non core area , Demattei concession expiring April 16 , whilst in conflict with known reservoirs - Gonzo left with $40m drill contingency D block and no lease extension - he has been paid for back costs baby - and struggling with PV in Pirirty 3% Net Profit royalty - that on-going with mega commercial opportunity when the OBA needs to be complete & TLC ??? Why switch focus relatively quickly in a low oil enviro to Paraguay and not money towards production with the OBA - takes priority surely. Why side show Paraguay. GLGN Is there a mega game afoot. or am I fully or Sxxx. News will flow.

What I could not fit in is the other positives - San Pedro drill gives mega geological info & science $9m worth to Paraguay Govt & Amerisur team - at the same reducing Amersiur potential Capital commitments if the concession proves to be not commercial *- so this is a great team builder within Paraguay - helps in potential future deals maybe and the opportunity of working with PPC at the head of the table - pre drill Amerisur were IMO an empty vessels within Paraguay - no commitment so to speak. Timing drilling whilst D block term expires - co=incidence or just cogones as the OBA explodes ?? I think there will be an acceleration of Paraguay q4 2016 IMO GL HNY HFD.

RNS - always thought why pick the furthest away from PPC drilling especially when there is a Pirity superblock on offer??????? . One drilling benefit - Guarantees Amerisur is in the small elite Drilling fraternity and are one of a very small bunch with PPC to have put money where mouth is and get the respect of the country government - especially when it comes to changes in known concessions or those up for Renewal !!!!! - so to speak or future farm outs or ins. Timing bril as Amerisur needs the OBA to be complete to reduce opex and generate profit and support a campaign push in a more lucrative part of Paraguay reserves . I bet they'll be in Demattei next 12-15 months and Amerisur have a $275m RBL facility - Gonzo needs to be properly sorted. Only a guess obviously. GL Only my opinion. IMO this San Pedro drill is more important as it plays Amerisur in to the Paraguay authorities as a serious player, the pre-results were known really , there were clearer mega shots available but benefitted opposing forces, so avoid. PPC has suffered from these dispute timing options which, once sorted in the long term will deliver and so Amerisur IMO will start co-joining with PPC in Pirity sorting out joint reservoir issues is a win win win. Happy Fathers Day HFD Baby. GL

Just a guess - we at PPC have had a long time together. Sorry if I'm out of order. Baz I'm the odd one but I've gazed at the very unhealthy obsetchmuch every 3 minute post at PMO and I don't want that here - so I'll de-ramp and keep PPC clean and not post anymore - what we have here is very healthy debate I'm the idiot, thers great people here on the BB . GL GN