Member Info for BaysilHope

Last point EasyRoad 3 side track wells boost exit production from ARG to say 1,600 bopd Dec 16 - and then a 2017 drilling campaign ignoring Farmin In option MDT say 2,500 bopd what do you think our forecasted EPS is and SP bearing in mind the Arg GP% 65% at $58/ Oil - reduced overheads and allow for a $20m working capital loan funding ARG production, excludes any wildcat exploration finds. To me $20m NPBT EPS adjusted 2.5 PE 15 and so on but that's at Oil$50 and no major fing in Paraguay and Gas in MDT at 7p I'm happy. GL GN Please elaborate. Thx

One thing I have learned in business is the pressure of lack of cash. Best ideas, talented management, unique opportunity - lack of cash is the juggler and he who can hold the threat wins. Not my style, I prefer creativity, imagination and make more with co-operation - Master Po. What I dislike is the Ape treatment - throw away paragraphs on a strategic issues as Demattei - same as Brexit - Turkey joining the EU 7pm Next Monday FFS dis-information. Whether there were or no hydrocarbons found - is unlikely its nil why fight on - until we get it real I don't think the SP will move. It's Ok gesturing & posturing for land tenure & concession gain and the need for reduced media coverage - when are we going to go beyond this and see a cohesive plan not surrounded in mystery and pressured dealings - finish it. Get rid of the turf wars and produce oil GN Sorry for being blunt to anyone I apologise unreservedly especially Brasso3 I was out of order. Frustration. GN

See Gaffney 2014 report - the majority of Jacaranda 65% whole enclosure is in D block & 35% in P block a smaller of % for Lapacho = I've researched joint ownership of 2 concessions straddling a reservoir and the legal maul. End PL needs to be open up why walk away from $50m of drilling 2 wells for a $10m write down - does not make sense shared reservoirs - we are giving away 65% of Jac and say 30% of Lapocho (MMBL barrels of OIl !!!) to maybe a new operator as Mr G ain't got the funding - don't buy it, D block extension refused - work the numbers . Last post good night. PL don't buy the throw away paragraph in the 2015 Accounts sweet pea uk uh. HNY PL we are not dull. Luv Baz

Sorry I disagree on the info PPC provides, Yes the wells are not in D block but the reservoirs are !!!!!! - which could be wrong but Lapacho Reservoir Clearly straddles P & D block - look at Gaffney Clyne reserve reports balance concession based upon reservoirs %' main thing is Political disruption - & If I were Mr G target Jacaranda dispute (on reservoir details) and prove it - look at a negative campaign for Jacaranda and provide territorial proof for no reservoir Coalescence - i.e concession border integrity on Reservoirs WOW - would cost $millions to prove while production drilling is begging project delays and tie PPC down for months. Cool head negotiate and resolve. PL strategist - why did he drop Demattei with +12 potential targets?? To pressurise Mr G from both sides - IMO ruthless it may be but PL would not drop D block without an ulterior commercial negotiating motive IMO - its a move in a bigger game of chess, which he has won before - look beyond the soft target - he wins this saves millions in Piirty and opens it up for farm out and frees up future production of a 1bn concession - Only my opinion that's why he is gone in hard, when the opponent cash is tight and a need to compromise - hopefully both win - forget drill see Reservoir.. GN GL.

Sorry last post, - my mistake Farm Out Not Farm in - throughout last 18m posts - key issue O/s Quote b) In the event of a farm-out taking place in relation to Pirity and back costs being paid ( but not further or otherwise), a sum limited to the first US$2.7m of back costs received by President to be paid to the seller; (c) A Net Profits Interest of 3% of net revenues after deducting inter alia royalties and operational expenditure generated from successful commercial production of hydrocarbons in the Pirity Concession to be paid to the seller; End Why important - just look at other targets - quote ' A third drill ready location exists in Pirity at the Tapir Cretaceous prospect, forming part of the Jurumi complex of five large dip enclosures across the border from the producing Cretaceous Palmar Largo fields in Argentina. The complex has independently assessed aggregate gross mean unrisked Prospective Resources of 453 MMBbl which were defined by high quality 3D seismic acquired by President in 2013. GL Hope this helps I've rabbited as the AGM is soon and all this needs answers. I'm there with my note pad and will report back. Baz - for any sense see previous thread.

Sorry last point - can't re-enter our 2 wells Lapacho & Jacaranda as they straddle disputed Demattei - so there is unfinished business that does blight any potential farmin of Pirirty (cross boarder dispute with Demattei) see August 15 Investor Pres -so Gonzo still has a mega role - IMO the Pirity border is closed for development/Drilling & Farmin options and current negotiations are Work in Progress.. However - H Block is clean but you don't want to hit a gusher anywhere in the big P or in Pirirty when Gonzo is ramping up a legal battle clinging on to D block FFS - sweet pea. Last post sorry - not a quick thing to explain GN. END Its like my Ex wife she was great at dampening down expectations.

IMO guess only, PL objectives - Pirity buy out Petro Victory 3% royalty clause cash for future production saving millions , Demattei - renegotiate % concession with cash incentive another gain, Drill H block get past 80% threshold $10m and understand Don Q split from H block not explained in the Accounts - do we have 100%?? Whats that deal? - we will get answers at the AGM. ARG Materially ramp up path of least resistance production - whilst talk to possible partners for Paraguay. Whats changed with Oil irrevocably going up as it seems - we'll be approached and not beg. GN sorry for the comedy - couldn't help it.

Quote the series David Carradine - Shoalin Apprentice Grasshopper - Quote ' Caine (Grasshopper): Is it good to seek the past, Master Po? Does it not rob the present? Master Po: Grasshopper - If a man dwells on the SP of the past, then he robs the SP of the present. But if a man ignores the SP of the past, he may rob the future of the SP. The seeds of our destiny are nurtured by the roots of our past investment. PPC? OPEC’s future Master? - From the crane we learn grace and self-control. The snake teaches us suppleness and rhythmic endurance. The praying mantis teaches us speed and patience. And from the tiger, tenacity and power. And from the dragon we learn to ride the wind. - & from my Cat we learn the secrets of the Litter tray. Master Po - PPC shares I don’t understand the insult? I'm laughing too much sorry - but at 7.5p I;m crying inside.

Now ARG is opening up - 2k bpd by Q1 2017 would give PPC +$20m Net Profit p.a for 2017 minimum in sterling 2.5p EPS multiple of 15 = 37p a share, that would allow a +$150m RNL for ARG and Paraguay. IMO PL will have learnt massively from the severe drilling activities in Paraguay and could hit a much easier H block target 2500m, whilst Pirity & Demattei issues rage on - the ARG drilling is into existing shut in wells for side tracks, my gran could hit that after a night out. I think or biggest problem is cash and the apathy of the market - got bored last night and read the G Clyne Reserves report June 15 -it is all dependent upon drilling to prove reserves and production. Of which to date nadar!! So PL needs to hit the target of production as PPO recovers beautifully, it is a testimony of the lack of faith in our drilling appetite that Oils' up +$15 and our SP is down and we DONT have any debt. FFS. Hope that helps it is only my very limited opinion. But there is bad blood between PL and our former Country manager Mr G understandably and I guess PL is playing a patient waiting game developing cash & funding farmin options.

Secondly, PPC have thrown the towel in Demattei although certain enclosures cross boarders see Jacaranda potential reserves - Crescent Oil is owned by Gonzo who PL fought against (He is big in Petro Victory) so there is still a slugging match going in on. Part of which we wrote off $10m in the accounts. So there is another territorial dispute in progress albeit a waiting game. So PL can move on H block for next drilling but needs cash and wait for a settlement deal or tenure agreement. PL has dumped the onerous concession commitments of Cres Oil - so stay clear of Paraguay until things calm down and the POO recovers.

Only IMO and I need to be very guarded not to upset anyone. My take on the deliberate dampening of Paraguay are 1. Petro Victory - financial position well know well publicised Quote -On SEDAR... GOING CONCERN ISSUES? Going Concern Issues As of March 31, 2016, the Company had negative working capital of ($4,915,792) and cash of $165,450, amounts insufficient to meet the expected capital needs in the next twelve months. In addition, the Company has incurred losses since inception and has no revenues. Management and the board realize that additional funds must be raised in the next twelve months in order to fund future operating costs, any potential work program and to pay general and administrative costs. Unless the Company is successful in raising capital, it may not be able to continue as a going concern.' - IMO - Although we have acquired 100% there is a royalty clause in place future production .............. wait and see End.

Last point, I understand at the point of the ARG devaluation Dec 15 PL could not put in debt into the business - before assets fell 33% on currency issues alone + then external US$ Debt increases by 33% purely F/Exch double whammy - hence PL equity Nov 15 - since then POO +90% and after a $29m write down translation reserve on ARG peso Dominated assets fall say 10 peso to 16 (will slowly be written back) - now at 13.5 going forward with new funding in US$ debt (lower interest rates not in country) are matched for new peso investment on project review = liabilities net difference on F/EX i.e safe to invest especially short term from PPC point of view in 6- 9mths F/Ex trend safer to borrow more, if stable. Yet our SP doesn't reflect the new varied options/liquidity for funding FX investment in ARG nor in country asset value increases post devaluation. Bottom line ARG is a new financial hydrocarbon province yet to be rated in the UK - the US investors are charging onward - in country. GN

Quote' Argentina is pushing back against a tide of short-term foreign investment driven by confidence in center-right President Mauricio Macri's reform drive and big profits. In the last three auctions, the central bank has exercised the curbs on foreign purchases and has also cut interest rates to 34.25 percent from 38 percent..He said the measures are designed to ensure the currency strengthens "along with the real economy... and not at the pace of the financial world." Right direction. Get Arg Interest rates down & Inflation all help if you are in PPC long term. GN GL

First thanks AParky - don't want PPC SP side tracked on mud !! Joke. It is a Sad state of affairs when my pixxx top up is the largest trade on LSE today - I feel cheated, or like a million Lira - it sets it up in the future - one for the Grand kids - Gramps remember when you lost all that money on........... Good Night.

Understand - well explained, I'll cancel the Geo-Phys course - I totally missed that point! Cheers GN.

This news is very early only spudded 22nd April - does affect PPC - Quote RNS ' Positive indications of oil and gas in potential reservoir sections were seen in the mud logs while drilling and as a result the Company is currently acquiring electrical logs in the well in order to define reservoir and fluid characteristics. A decision to complete and test the well will be taken once those logs have been interpreted. The potential reservoirs of the Lima and Santa Elena formations were encountered slightly deeper than anticipated, and from initial mud logs appear to be complete in their development. CEO - I am pleased to report the successful drilling to TD of the Jaguarete-1 (Paraguay) exploration well. Although still at an early stage, we are encouraged by the evidence of a working hydrocarbon system and I look forward to the interpreted electrical logs and being able to update the market following the analysis. Must be good for PPC - I'm clueless on Reservoir issues can anyone help?? To report so early from Mud logs is good surely or just keep silent for the electric logs!? GL

In my ramblings - need to realise PL going unsecured on this first round of production based lending leads a clear path to secure Reserve Based Lending for more aggressive growth, that's why PL is targeting reserves recovery as well as production as a pathway to growth and more resources = more lending sustainability . Reminds me of the Pre War & hostilities - RAF build up 1936-38 here we go - needed for PPC to break the trading and trending range and let it fly. not long IMO.!!! All respect to the RAF analogy - only a guide sorry. GL.

2016 PPC production wise are not far off Amerisur in Feb 2011 - built on old sites, they drilled many new wells (limited options) and surveyed Paraguay. AMR then quickly increased output and secured a $175m RBL facility early 2014 - admittedly in a high Oil envor. PPC can mirror that dynamic - they took over an old system and added new techniques , the formula is there, PPC has however more gas in PG & potential reserves - Amerisur grew strongly 12-14 and PPC will in the new Oil enviro repeat the success IML fingers crossed. Both companies have between 2009-2016 data on Paraguay - which will be witnessed with the San Pedro TD which is today ish and lets see the findings. Bottom line - this is the base of the elevator, if OPEC grow up and their New head wants to float part of a $2triillion Saudi Aramco for reform, lets be civil sweet pea , this is a global economy I'm not investing my $2bn in a local skirmish - GL I think by 28th June we've turned and bottomed. As Churchill said, this is not the END, nor the beginning of the END , BUT PERHAPS IS THE END OF THE BEGINNING. hny gn fkum

Hi DRichi in answer to your query - I think - Quote RNS -The wells will be side tracks from existing shut in wells with horizontal producing sections, will comprise one well each from the Company’s Dos Puntitos, Pozo Escondido and Puesto Guardian fields, and will target both proven and probable oil reserves'. Vertical well work overs (whilst necessary - and great for learnings) are no match for horizontal/side track drilling, they drain the reservoir maybe x3 than vertical (guess for Old wells but what I've read) more quickly and enhance reserves by increased recovery rates. That's why PL IMO is targeting 3 different producing areas - leaving out MDT which needs higher risk new drilling. PPC can't afford risk at the is juncture - prod'n too weak so IMO its play safe into Known reservoirs with 21st Century high yield technology which is less risk for him to fund and cheaper (side track will be a first for PG and more bang for the $) fingers crossed - get strong production growth H2 2016 which could make way for a greater magnitude RBL funding for a more aggressive expansion campaign early 2017 - which should include an element of New drilling into know opportunities. I think?? and as you state Prod'n increase = +ve SP - PL will need to explain this far more clearly and I agree it is causing doubt and unnecessary guess work. and speculation. GL New will out soon.

Net assets $138m = £95m @ $1.45 gearing $8.3m. to $138m = 6% plenty of scope - What's the bet Demattiei resurfaces 2017 as new acreage. GN GL Mkt Cap £38m discount to NAV 60% - it will be a a long, long road with many a winding turn, that leads us to Who, Who know's where but I'm ......... OPEC 2nd June - according to the press a Non event all eyes on Saudi - pressure is on them & the Iranian stand of - its positioning between Sunni, Shia & Shaka Hahn. I personally like -' Ain't nobody' does it better. Failure could lead to $60 oil in 3 months. HNY