Member Info for bigsmoke

lol - deduct expenses ... and .....

Appetite for these shares is like lard at an anorexia convention.

not the start i imagined.

Here’s to the (hopeful) start of our next big climb.

IWNWTBOOTOTW

I’ll eat my hat - and mines a 10 gallon with with leather band.

Hold on ... rewind - DRichi, I’m now a tad freaked about that 1 AT trade .....

Must be. Even with a risk discount, surely we must be 16p?

Guess the key point is:

“Combined with Management estimates of value for Louisiana reserves, the Group's net 2P reserves value calculated on an NPV10 basis ignoring all exploration resources is now nearly US$300 million as at 31 December 2018, representing an approximate 200% premium to the Company's total enterprise value taking into account its current market capitalisation and total gross debt of approximately US$30 million.”

Commentary

President has now received from its independent Argentine regulated reserves auditor the Report over its producing areas in Argentina including those in the Rio Negro Province, Neuquén Basin and the Salta Province, North West Basin.

The Report focuses only on producing assets in Argentina and does not take account of (1) the significant prospective resources of President's exploration areas in Argentina (2) the Company's producing hydrocarbon reserves and prospective resources in Louisiana nor (3) the extensive prospective resources in President's Paraguay exploration areas.

A table showing the independently certified reserves in Argentina by Province as well as management estimates of the Louisiana reserves is set out below.

NET RESERVES TABLE
(MMboe)
1P
2P
3P
Puesto Guardian, Salta
7.3
13.6
16.7
Rio Negro, Neuquen Basin
8.1
11.4
13.8
Total Argentina
15.4
25
30.5
Louisiana
0.6
0.6
0.6
Group Net reserves
16
25.6
31.1

Note- for the purposes of this table and the reserve figures, fraction numbers are rounded up if 0.05 or more or down if less than 0.05.

Peter Levine, Chairman and Group CEO commented:

"The increases in key producing reserves and value in the Neuquén Basin in Argentina and its higher contribution to entire Group reserves reflect our successful and continued focus on that area. The report and our continued cash generation is a clear vindication of our philosophy of value over volume underpinned by the success of President's acquisitions policy in the last 18 months and our concentration on margins.

"Accordingly, we remain focused on materially increasing profitable hydrocarbon production combined with reserves growth.

"With the benefit of the latest acquisitions made in December, including the strategic gas pipeline and infrastructure, we are working diligently towards significantly growing our gas production this year as well as oil, thereby providing a more balanced energy portfolio."

Glossary of terms

MMboe millions of barrels of oil equivalent

1P - Proven hydrocarbon reserves

2P - Proven plus Probable hydrocarbon reserves

3P - Proven plus probable plus possible hydrocarbon reserves

NPV10 - Net present value discounted at 10 per cent through the life of each concession calculated at a flat US$68 per barrel

Reserves use a value of flat US$68 per barrel during the life of each Concession

Victor Linari, Master in Geology and Member of the Society of Exploration Geophysicists, who meets the criteria for qualified persons under the AIM guidance note for mining and gas companies, has reviewed and approved the technical information contained in this announcement.

RNS Number : 0823Q
President Energy PLC
15 February 2019

15 February 2019

PRESIDENT ENERGY PLC

("President", "the Company" or "the Group")

New Argentina independently certified reserves report

1P and 2P Neuquen Basin high value reserves increase by 90% and 40% respectively

Substantial increase in Group economic value of 2P reserves to nearly US$300 million

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily South America, announces its new independently certified hydrocarbon reserves report on its assets in Argentina ("the Report") calculated as at 31 December 2018.

Report Highlights

· President's net 1P and 2P reserves in the Neuquén Basin increased over the previous year by 82% and 41% respectively to 8.1MMboe and 11.4MMboe (y/e 2017 4.5MMboe and 8.0MMboe).

· Overall Group net 1P reserves in Argentina increased by 6% to 15.4MMboe (y/e 2017 14.5MMboe).

· The Group's overall net 2P reserves in Argentina show a decrease to 24.9MMboe (y/e 2017 26.5MMboe). The 2P differences are due to the reserves in the Salta Province being prudently adjusted due to deliberately reduced capex activity as the Company focused on the higher value, value added Rio Negro fields.

· President's net Argentina 3P reserves increased by 14% to 30.5MMboe (y/e 2017 26.8MMboe)

· The Neuquen Basin 1P and 2P reserves comprise 81% oil with the balance being gas but with gas representing only some 3% of President's current production. Only a limited amount of reserves are currently attributed to the Las Bases and Puesto Prado Concessions acquired in December 2018. The reserves in these areas are expected to grow in 2019 as President implements its capex plans and, inter alia, significantly increases gas production.

· The beneficial effect of such emphasis is demonstrated by the NPV10 value of President's net 1P and 2P Neuquen Basin reserves increasing by 44% and 22% respectively to US$133 million and US$192 million (y/e 2017 US$92million and US$158 million), the Group's entire Argentina 2P reserves NPV 10 value increasing by 15% to US$291 million (y/e 2017 US$253 million) and the 3P Argentina reserves value increasing by 40% to US361 million (y/w 2017 US$258 million).

· Combined with Management estimates of value for Louisiana reserves, the Group's net 2P reserves value calculated on an NPV10 basis ignoring all exploration resources is now nearly US$300 million as at 31 December 2018, representing an approximate 200% premium to the Company's total enterprise value taking into account its current market capitalisation and total gross debt of approximately US$30 million.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PPC&ArticleCode=kq4hjpk1&ArticleHeadline=New_independently_certified_reserves_report

have we honestly spent more than £10M 'maintaining' westmed?
how those savings would help us right now.

"great movement" ? all upward movement is welcome.

16 reasons, at least, to migrate to the prepaid mode and gain peace and control in your relation with Eneo

No Eneo meter-readers visiting your home
No disconnections for unpaid bills
No Reconnection fees
No consumption deposit
Simplified subscription
Refill at will
Immediate reconnection after refill
No stress of Payment Deadline
No monthly bills
No challenging of reading
No removal of meter after every change of tenant
Independence in consumption management
Easier energy savings
Better control over consumption
Better anticipation: you only pay for what you want to consume
No surprises

Where can one buy electricity credit?
At your local Eneo agency
An soon through Orange Money

https://eneocameroon.cm/index.php/en/actualite-communiques-en/communiques-communiques-de-presse-en/2748-about-eneo-prepaid-meters

07/02/2019
About Eneo prepaid meters

The digital revolution is transforming the life of companies. Accelerating changes at Eneo by leveraging the promise of technology has impacted various aspects of the company's business and the experience of our customers. Smart meters are one of the technological solutions used in the transformation process of the electrical service launched since 2019. Prepaid smart meters offer the customer a strong power of control over their electricity consumption, over their budget and, above all, make life easier for customers by eliminating several compelling steps in their relations with Eneo.

During the initial pilot phase of prepaid-meter implementation in the Douala South area (New-Bell), 500 meters were installed. This made it possible to determine the conditions for the success of this new mode of consumption and metering.

The agreement between Eneo and the SIC, as well as the launch of a meter migration operation in the area of Bonapriso recently will accelerate the implementation of the Eneo prepaid operation and thus pave the way for its extension.

seriously though, where are the gas2energy projects among: construction of the Douala International Conference Center, Bonabéri multimodal bus station, urban forest in the Bessékè valley, Douala exhibition centre. Unles the buses run on LNG and the exhibition centre is gas-powered.

https://www.businessincameroon.com/companies/1402-8852-1-872-applicants-vying-for-four-director-positions-at-metropolitan-investment-company-of-douala

The Metropolitan Investment Company of Douala (Smid), a company created to develop the Cameroonian economic capital, held its 2nd Board meeting last February 2019 and screened applications to recruit a Managing Director, Administrative and Financial Director, Director of Promotion, Marketing and Public Relations, and Director of Operations and Production.

According to the government delegate to the Douala Urban Community which initiated the Smid project, a total of 1,872 applications were received for these four positions, three of which were awarded to women, including that of managing director for whom more than 600 candidates were in the running ; the position of administrative and financial director was given to a man.

In the long term, Smid aims to mobilize a global budget of XAF1,400 billion for the implementation of certain major projects in the Cameroonian economic capital.

These include, for example, the construction of the Douala International Conference Center (XAF12.4 billion), Bonabéri multimodal bus station (XAF1.9 billion), urban forest in the Bessékè valley (XAF2.29 billion), Douala exhibition centre (XAF8.5 billion), etc.

if charts suggest anything: the SP is hugging the 50 sma, waiting for a rebound; RSI neutral; and MACD looking ready for an upturn. i would suspect 17p being left behind tomorrow afternoon or first thing Monday - esp. as the TD draws closer.

maybe it meant wait 1 day before issuing news?
news tomorrow? :)

here we go again.