Member Info for Brasso3

five

Where are you getting your information for gas prices?

Reminder. These Twitter updates was from 2 weeks ago:-

President Energy
@PresidentPlc
·
Dec 30, 2020
Coil Tubing Operation at EV-x1 #operations #RioNegro #PPC

President Energy
@PresidentPlc
·
Dec 30, 2020
Work continues throughout the festive period - hot tap of LB-x1 into the battery and compressor station #operations #RioNegro #PPC

AParky

I have made it quite clear that I am not happy with the LCM loan and the terms etc. I still think based on 26m P2 reserves and 4000 BOEPD that this is worth 2.5p - 3p. Any increases above that (shall we say signs of organic growth) and 4p should not be far away. Of course PL could through a hand grenade in but I cannot predict that.

50p, 35p, 20p, 12p, 6p....

The 1.85p placing destroyed long term PIs investment. I have added 3m shares recently to get my average right down in where I see the bottom. Lets hope for 2p+ soon.

IYA Global took part in most placings over the last 10 years!

The previous CPRs were issued on these dates so we could be 2 - 8 weeks away. Surely an increase in P2 reserves is to be expected... 30.0 MMboe?

27th Jan 2020 - 25.9 MMboe (P2)
15th Feb 2019 - 25.0 MMboe (P2)
05th Mar 2018 - 8.0 MMboe (P2)

That is me up to 5m shares! :)

There were a lot buys today. The 2 x 500k sells stopped this from making a move on 2p IMO.

I may add more on weakness tomorrow...

4m now. I cannot justify going any higher than that.

The 4 x 250k trades are mine this morning. :)

PPC have spent $150m on Paraguay to date.

AParky

Back around 2017 when we had Envoi trying to farm out Paraguay I recall it was 50% for two wells or something in that region. I guess at current prices that is about $20m.

I would agree that 2.5p - 3p is fair value based on production levels and the current oil price. It should make it their soon now this overhang has cleared.

If you are a long way under water then this might be the last chance to get your average down before the January operational update and reserve report.

How do you get to $50 per BOE?

Brent is at $51/ barrel and the Argentine government take a 12% cut. Also PPCs production is split 50:50 oil:gas.

The BOE price is probably more likely around $30 - $35.

Bitcoin coming to a cash machine near you: 16,000 ATMs across Britain to offer exchange of the cryptocurrency via an app

https://www.thisismoney.co.uk/money/news/article-9082413/Bitcoin-arrives-16-000-ATM-machines-UK.html

from memory that was the price that a 92m trade went through at a few months ago.

Steven

There is not exactly a seller. There are several parties that took the IFC stock (~90m shares) at 1.1p and are banking a nice 40% - 50% profit drip feeding the market. Hopefully it will be over in January.

I didn't think it would hold onto the rise. Still plenty of stock around and very little buying appetite.

The market clearly not impressed with them taking on more debt. I personally think it will end up being a good deal but as of today at 30% interest rate it seems very high if you do not understand that Argentina is a basket case country and will destroy (devalue) its own currency.

Its not an interest free loans. Its bet on the devaluation of the Argentine Peso.

Michael Saylor and Elon Musk engaging on Twitter now talking bitcoin! Wow!