Member Info for Brasso3

NM The RNS in April was referring to gross company production to 1100 BOEPD. The US contribution was 300 - 350 BOEPD. Extract from the April RNS below:- "Group average production April to date taking into account acquisition approximately 1,100 boepd"

Northern Have you been smoking something??? Jesus! Argentina production is around 800 BOPD and USA at ~300 BOPD. Production is not expected to be anywhere near 10000 BOPD by end of 2018.

They have a tiny amount of debt and cash in the bank.

Ozzie I am one of those unfortunate long term holders that first bought in above the 50p level. Been here 10 years back to the MRP days. I feel like PL and others have let share holders down badly. PL at least had skin in the game so felt the pain too. Some of the previous directors like Hamleton and Hubbard however never put their cash on line and made bad decision in Paraguay that cost us. I have had to buy lots more shares at sub 10p to keep my exit strategy here attractive. I now hold much more share than I ever intended but my average is around 13p. I think based on current production of 700+ BOPD in Argentina and 300 BOPD in USA we are undervalued and should be in double figures already. Even just considering the conservative production level from Argentina of 700 BOPD and they premium price received of $52/ barrel we will generate $13m a year. PPC could easily generate $20m in revenue in 2017. I think it would be possible for PPC to average 1000 - 1200 BOPD this year which could be $21m. Still plenty to play for.

Main bits that stood out:- - Looking at 1000 - 10000 BOPD acquisitions. - Targeting 2000 BOPD from Argentina by end of 2018. - Still getting premium rates for oil in Argentina until end of 2017.

Production in May was 565 BOPD from the Argentinian wells. This extra 250 BOPD take the gross production in Argentina to ~800 BOPD. Another 400 BOPD required to hit the 1200 BOPD target.

Levine has been involved in PPC since 2012 and his midas touch has yet to be seen! Quite the opposite in fact a he has tapped the market for close to $200m in that time and yet the current market value of PPC is around £60m.

To put the madness of the current share price/ market cap. into context I was having a look at the current status of BPC. - BPC have no P2 reserves and LGO have 12m BOE. - BPC cash balance at end of 2016 was $1m and LGO currently have around $2.5m. - BPC have no production and LGO have around 500 BOPD. - BPC have exploration licenses offshore whereas LGO is onshore. - BPC market cap is £15m and LGO is £17m. - LGO have Leo Koots!!! The AIM market can remain distorted for a long time and it takes time for true value to come to fruition. You need to have the patience to see these mis-understood investment opportunities out.

LK is not going to have this big launch without some additional news. I expect it could be on several fronts:- - New institutional investors. - Scrapping the Lind loan facility. - New strategy for T & T assets. - New partner/ funding. - Additional board members.

A potential positive outcome on a court case would never come into a NAV calculation.

Looks like an additional 100 BOEPD from these wells at present. Hopefully these wells will increase when on pump. It keeps PPC in the 1100 - 1200 BOEPD area at present across all assets.

Posted by Pipepeter on ADVFN:- Piperpeter12 May '17 - 13:04 - 12502 of 12507 0 0 REPORT DATE 05/09/2017. VER PSH SCH BD A 050 RECOMPLETED 4/24/17 AS A OIL WELL IN THE R SAND RES; PM GL; 40 BOPD; 24 MCFD; REPORT DATE 05/10/2017. SA VUA; LA FURS INC A 023 RECOMPLETED 4/27/17 AS A OIL WELL IN THE SA SAND RES; PM GL; 50 BOPD; 74 MCFD;

I think the last two RNS have made some think that news flow is now further away. Some extracts from the last 2 RNS:- 29/03/17 " The initial three well frac programme is now next on the agenda with first results expected in June 2017." 04/04/17 Continued adverse weather means workover rig now expected to start the shut-in well frac campaign next week "...substantial step towards our target of 1,200 bopd by end September 2017" The March RNS leads us to believe that they will report the 3 wells together rather than individually. Waiting until June is a long time for AIM investors! As the last 2 wells have taken ~20 days to complete the workovers I doubt we will have visited all of the 10 planned by September (10 wells at 20 days each = 200 days). At best we can probably workover 7 more by September but PL is targeting the 1200 BOPD by then.

The market needs some more convincing it would seem. At 800 BOPD (Argentina) and 200 BOPD (USA) PPC is in the best position it has ever been in with regards to Production. With a market cap of £70m and 1 billion shares in issue is this fair value? 1000 x ($50 - $20) x 365 = $10.9m (£8.5m) £8.5m / 1,000,000,000 = £0.01 per share Based on production it looks like fair value. From a P2 reserves perspective using a conservative $5 per barrel it looks cheap. 20m (BOE P2) x $5 / 1,000,000,000 = £0.10 per share

Malcy write up:- President Energy An operational update from PPC this morning from Puesto Guardian where the company announce the successful working over of the 2nd previous producing well the DP1001. The Puerto Guardian concession is already producing 750 b/d which will drop a little to 600-650 b/d after initial flush production but is already very encouraging. The programme continues next week, delayed slightly by heavy rains in the area and the three well frac programme is next, I am confident that yet more barrels will be added to production. It is worth taking a further look into the value of PPC as a recent upgrade in its reserve position in Argentina appears to have had little impact on the share price. With 1P oil reserves up 9% to 12 mmboe and 2P reserves up 10% to 19.9 mmboe (and mostly oil) the group when you add in Louisiana exceeds 20m barrels of 2P oil equivalent and is valued at a fraction of that. As Peter Levine points out, this reserve position ‘is comparable to companies whose market cap is a multiple of President’s’ and also in my view, the market has yet to catch up with this value inconsistency. The 2017 workover programme that is delivering success after success is indeed a key factor to increasing the important production to reserves ratio, when that is understood by the market the shares will surely rebase in an upwards direction. http://www.malcysblog.com/

A couple of new pictures on the PPC website:- Jet pump at DP12. http://www.presidentenergyplc.com/press-and-media/image-library/image/items/preparation-of-jet-pump-assembley-dp12-puesto-guardian/ Q03 Rig at PG. http://www.presidentenergyplc.com/press-and-media/image-library/image/items/q03-rig-at-puesto-guardian/

Because it has been cancelled!

35 years as a geologist and he cannot write in simple English! Not a lot to short from 6p.

I wonder what PL thinks about the share price response to this mornings RNS. Maybe he should have expected it as previous RNS about reserve upgrades have gone the same way. When they purchased the Argentina assets in 2011 they were producing 200 BOPD (net to PPC) with 6.6 MMBOE (50% WI) of P2 reserves. Six years later and the assets are kicking out 400 BOPD with 19.9 MMBOE (100% WI) of P2 reserves. A massive increase in reserves with a moderate/ poor increase in production. They need to get production above 1000 BOPD for the reserves to have any credibility.

I have always been a big fan of the Argentina assets and been very disappointed at how slowly they have been developed. I really hope this is the year where they create some serious cashflow to unlock Paraguay. If the DP1001 comes in above 100 BOPD then we could be at around 550 BOPD in Argentina alone. Not then impossible that we could be at 1000 in the summer. With the USA kicking out 200+ BOPD also PPC start to look very cheap below 10p. I have been here too long to get carried away but in <20 days we will have another RNS to talk about.