Member Info for Brasso3

Petro AP - Argentina So far, Petro AP has acquired Caimancito oil field and APASA Oil Company in Argentina, and has got the exploration right of four blocks, namely Santa Clara, San Martin, San Salvado and Pizarro. Petro AP intends to extend its business throughout Latin America with Argentina as a core area. It actively seeks for suitable cooperation opportunity and will continue its acquisition of oil and gas resources in Latin America. http://www.petroap.hk/en/plus/list.php?tid=16 Their current licenses surround the PPC acreage on the south and west of Puesto Guardian. Petro AP also seem to have some Argentine acreage that borders Paraguay from the image below (and previous post). This must run into the PPC Pirity concession:- - Selva Maria - Yacimiento Norte 3 Fraccion A In the PPC Paraguay presentation (Aug 2014) you can see the Selva Maria x-1 (Petro AP) well location adjacent to our Pirity concession. It is approximately 50 km away from the PPC Lapacho-1 well. http://www.presidentenergyplc.com/assets/downloads/Paraguay_Presentation_2014_08_13.pdf

http://www.petroap.hk/en/plus/list.php?tid=8

They have just started the horizontal section due to some minor delays so they have not increased production yet. We have 10 - 15 days now before they complete the drilling by my estimate. They seem confident that it will be a producer though and mentioning firm numbers (500 BOPD) for the first time. The 4 workovers should add another 100 - 150 BOPD also. In 6 - 8 weeks time PPC could be generating 1100 BOPD from Argentina and 250 BOPD from USA. With two more horizontal wells to follow they could be near 2000 BOPD gross in Q1 2017. I expect we will be talking about the share price in pounds rather than pennies if all the above happens.

President Energy Another day, another operational update from PPC, this one is a sort of good news, bad news one with the emphasis on the good. They say that operations are ongoing at DP 1002 S/T on the Puerto Guardian permit in Argentina and the well should hook up in early October and add around 500 b/d which doubles the production on the concession. This is despite some delays which have led to a sidetrack and new kit which I understand should be at no cost to PPC. An additional piece of potential upside is that four, old shut-in wells will be worked over in the autumn and with new technology should provide additional production from here. Positive news despite the delays and I remain happy that PPC is in positive territory. http://www.malcysblog.com/

23 days in now of the projected 30 days (assuming it commenced on the 8th August). I expect we could get a result sometime next week. Maybe they will just confirm that drilling is complete and they are running tests etc.

Http://www.oilandgascouncil.com/conference/southam-oil-and-gas-assembly/agenda 2016 South America Assembly November 29-30th Buenos Aires, Argentina 4:20-5.00PM: ECONOMICAL NEW FRONTIERS Which offshore fields are economical at the current price and why? Update on political stability and economical risks. What can these regimes learn from one another? What is the upstream potential and how to cost-effectively exploit it? What risks are the most apparent in these countries? How are they evaluated? Peter Levine, Executive Chairman & CEO, President Energy

I expect that we are less than 10 days away from some news now. On Monday 8th August we got the confirmation that drilling had already commenced. Drilling could therefore have started 3 days before that if we assume they announced it via RNS at the earliest opportunity. Also on the 30th July there were pictures on the PPC website with the rig in a vertical position.

I agree that anything around 200 BOPD per well would be a moderate to good result and achieve the overall objective. I expect if one of these wells is commercial then 400 - 800 BOPD per well is realistic. Therefore worst case I assume 1 commercial well and 2 non-commercial (1 in 3 success case).

Alot of information too in the March 2013 company presentation worth looking back on. http://www.presidentenergyplc.com/assets/downloads/PG_Update_2013_03_06.pdf

Presentation Page 26 - Pizarro looks like a big prospect hence why the Chinese paid $43m for it. It clearly runs into PPCs asset area. PPC chased Matorras as a cheap way to close up shop on the MDT prospect. Any major discovery in November this year 10 - 30 km to the south will not do us any harm. :)

I think Bays is referring to this presentation:- http://www.presidentenergyplc.com/assets/downloads/Investor_Presentation_2013_01_17.pdf

If the horizontals do not produce positive results i.e 300 BOPD+ per well there is no reason why they cannot just pepper the place with verticals. The oil is down there just need to find the most economical way to get it out. Puesto Gardian once produced at rates of around 6000 BOPD (1980s)

Max2 I would say the 1000 BOPD gross target post the drilling campaign is extremely conservative. You don't drill 3 horizontal wells and target just 500 BOPD. The vertical wells in this region of Argentina produce around 300 BOPD. PL is playing this down and the remarks he has made in the recent RNS announcements should not be taken as a realistic target but just maintaining market expectations. Better to look back at his comments about these horizontal wells in 2012 to get the flavor of how big they could be:- Dos Puntitas Field - Redevelopment President is now ready to undertake full scale redevelopment of the Dos Puntitas Field. Integrated development planning is underway and will be complete during Q4 2012 to enable full scale development drilling towards the year end, continuing into 2013. President is currently planning high impact, high production horizontal wells tapping into the reservoirs which President has now proved are in place. A new, more powerful rig will be required to enable drilling of laterals to efficiently drain and maximise production flow rates from both the carbonate and sandstone reservoir layers.

2017 revenue could look very different depending on how these wells turn out. Argentina production projections at $58 pricing:- 500 BOPD = $10.5m 600 BOPD = $12.7m 700 BOPD = $14.8m 800 BOPD = $16.9m 900 BOPD = $19m 1000 BOPD = $21.7m 1100 BOPD = $23.2m 1200 BOPD = $25.4m USA production at $50 oil pricing adds $4.5m to the above figures.

POST CORRECTED! WTI back up to $48 now. Would be nice to see it break $50 soon especially with the new EWL well coming online. USA 250 (BOPD) x $50 x 30 (days) = $375k (revenue per month) Argentina 500 (BOPD) x $58 x 30 (days) = $870k (revenue per month) Annual revenue = $14.94m

WTI back up to $48 now. Would be nice to see it break $50 soon especially with the new EWL well coming online. USA 250 (BOPD) x $50 x 30 (days) = $375k (revenue per month) Argentina 500 (BOPD) x $58 x 30 (days) = $870k (revenue per month) Annual revenue = $10.4m

I cannot take the credit for finding those two links. It was Android2 on ADVFN that posted them this morning. The 3rd well being drilled by the rig is at Pizarro. This was the license PPC missed out on in 2012. (credit to Zengas also on ADVFN). 20 August 2012 President is pleased to announce that the Government of Salta, Argentina has awarded to the Company and its partner in Puesto Guardian two exploration licence areas surrounding Puesto Guardian, namely Matorras and Ocultar. President will be the operator of the two licences. The bid for Pizzaro was not successful due to a higher work programme bid of some US$43 million by a company, backed by a large Chinese industrial conglomerate. The combined area of these new licences covers 2,203sq km surrounding the 633sq km Puesto Guardian Licence. Matorras (1469 sq km), which was President's highest priority of the three licence areas, is on the same structural trend as the palaeozoic prospect under Martinez del Tineo that was the subject of the Gaffney Cline & Associates (GCA) audited resource report announced on 23 January 2012. GCA assessed the gross unrisked mid case prospective gas and condensate resource of 570 bcf and 14.5 million barrels of condensate. The Ocultar licence area covers the previously open area to the east of Puesto Guardian.

Http://www.petroap.hk/en/plus/view.php?aid=93 hTTp://www.petroap.hk/en/plus/list.php?tid=16

They increased there NRI to 100% from 50% in that time.

PL is really playing these horizontal wells down compared to the language being used in 2012:- Dos Puntitas Field - Redevelopment President is now ready to undertake full scale redevelopment of the Dos Puntitas Field. Integrated development planning is underway and will be complete during Q4 2012 to enable full scale development drilling towards the year end, continuing into 2013. President is currently planning high impact, high production horizontal wells tapping into the reservoirs which President has now proved are in place. A new, more powerful rig will be required to enable drilling of laterals to efficiently drain and maximise production flow rates from both the carbonate and sandstone reservoir layers.