Member Info for Brasso3

Nice to see this back in double figures. Not sure what is driving this at present but sentiment is a funny thing. I would like to see PG reach that 1200 BOPD figure soon before the next round of workovers come in. 3000 BOPD is now not that far away.

If you like PPC on fundamentals then you may want to also take a look at TXP for comparison. Market Cap PPC - �100m (10p) TXP - �14m (13.5p) Debt PPC - $33m TXP - $15m P2 Reserves PPC - 25m BOE TXP - 15m BOE Production PPC - 2400 BOPD TXP 1500 BOPD

I sold 150k around 8.1p I still have 600k. I do not think my comments were negative just stating facts.

PPC cannot afford to drill in Paraguay in 2018. The only way this is happening is with a farm out or placing. The Jx-1 and Lx-1 in 2014/2015 cost PPC >$50m.

ZENGAS10 Oct '17 - 06:07 - 585 of 598 4 0 From AEI 10/10/17 Former BP exec Stephen Staley plans offshore comeback UK-based junior is hoping to soon see an outcome from its lengthy talks with the Moroccan government to acquire a permit in the country's offshore. The company has been in negotiations for several months after its teams identified several blocks following due diligence work and geophysical surveys of the area. Upland boss, geologist Stephen Staley, is an expert in North Africa's oil sector. Staley, who previously worked for ConocoPhillips and BP, founded Irish junior Fastnet Oil and Gas in 2011. Fastnet had formed a partnership with American Kosmos Energy on the Moroccan Foum Assaka license, and at one point had contemplated purchasing the Tendrara permit. In 2005, Staley set up Independent Resources, which held a 13.82% stake in Ksar Hadada. Staley, who was a consultant for British concern Cove Energy in East Africa currently sits on the board of 88 Energy a junior active in Alaska. Upland, which holds a portfolio of onshore assets in the UK, is also carrying out prospecting operations in Malaysia and has key staff experienced in handling assignments in the region. Company chairman, Norza Zakaria, previously worked at Malaysia state-owned company Petronas, and Datuk Bolhassan, a member of Upland's board or directors, was formerly the assistant minister at the ministry of infrastructure development and communication in Kuala Lumpur.

58s Can you provide a link to the house broker 2018 EBITDA of $25m please?

Small error in my calculation! Just re-read the RNS from the 21st Sept:- -- Adds in excess of 1,200 bopd net current production, currently selling at $55/barrel with a US$27 netback/barrel, taking the Company's current production in Argentina alone to over 2,000 bopd EV - 1200 BOPD at $55 = $66,000 PG - 800 BOPD at $45 = $36,000 US - 250 BOPD at $50 = $12,500 Total = $114.5k

Based on the details in the interview and recent RNS I make current revenues around $110k per day:- EV - 1200 BOPD at $45 = $54,000 PG - 800 BOPD at $55 = $44,000 US - 250 BOPD at $50 = $12,500 Total = $110.5k

I would agree that 2500 BOPD production is a possibility by the end of 2017 from Argentina:- EV - 1300 BOPD at $45 = $58,500 PG - 1200 BOPD at $55 = $66,000 (15% government royalty to be paid) I am not sure what kind of royalty will be paid on the new assets. That would bring in $124k a day before royalties, OPEX and admin etc. That would be $45m annualized revenue. This must be broadly what PL is basing his $27m EBITDA figure on for 2018.

At 9 min 35 sec he gives contradicting numbers but obviously this is from existing assets:- 2018 - $27m EBITDA 2019 - $40m EBITDA $50m EBITDA if they achieve one more acquisition (possible in 2018). If he is hoping to find an extra $23m EBITDA in 2018 with an additional asset purchase that would require a massive placing.

I wish I had of put more money in CERP at 2p! Touched 5.7p today. PPC is now a very low risk investment but I cannot see where large gains will come from with 1 billion shares in issue and $33m debts. This will become a slow burner now and hopefully be back in the teens mid 2018.

I sold 100k today to reduce my exposure but still hold 600k. My reasoning was as follows. - Lack of transparency with the PG workovers. - Information about dodgy Chinese pumps seems like poor management. - No new operational activity until Q1 2018. - Cash position at the end of June was $4.7m - Debt to IYA is now ~$26m at 10.5% interest. I still believe double figures are possible here before year end.

You are correct that it is too soon to have a deal agreed on farm outs. At best I would think NDAs or MOUs could have been signed.

I am expecting 10p by the end of the week. At least 2 more RNS this week...

The USA production was running at ~300 BOPD last we heard.

5.46m Boe of P2 reserves for $22.4m works out at $4/ barrel. Not a bad deal at all considering the fixed oil price at present in Argentina. Granted, this will not last forever but oil does seem to have more strength at present than it has in a while. If OPEC keep the controls in place then $60 oil may not be far away. As I said earlier, this deal was not important because of the increased reserves it was more about the revenue/ cashflow it has brought to the business. This has brought a nice balance to PPCs Argentine portfolio. I have shown this below as an a ratio of P2 reserves against annualized production:- PG - 19.5m Boe P2 at ~800 BOPD (67:1) PF/EV - 5.5m Boe P2 at ~1200 BOPD (12.5:1) Total - 25m Boe P2 at ~2000 BOPD (34:1)

8.7p close on my screen! :) Highest days volume since January. Broken out of the 6p - 8p range that it has been stuck in for some time. A good RNS next week could see this test 11p now.

Big increase in volume today:- 2 x 200k 2 x 250k 1 x 500k

There has been around 700k in 50k trades in the last 2 days. These are either buys are sells which are going to fill a large buy order in the next few days. The share price has gone up so there is some new demand for shares. Lets see if this can push through the 8p resistance level on the chart now. I expect and RNS is needed to do that but once clear we are in open space to double figures. GLA

I notice the charts are starting to look more positive for PPC:- - Volume is creeping up over the last 10 trading sessions. - 14 day RSI is relatively low. - 6p is a historical base for PPC.