Not long now for accounts8 Aug 2021 16:14
" Full year average production projected to be between 3,600 and 4,000 boepd, based on Group capex spend of circa US$18 million. This is planned to be funded through own cash generation complemented by additional non-equity sources as required ( loan for treatment plant). The full benefit of capex will only be fully felt from the start of 2022 when all Salta new wells are expected to be on stream."
10th May 21 RNS......."With the price volatility, it is worthy of note that the price President receives for its Salta oil has in May reached parity with that received for its Rio Negro production, a significant positive change from that previously."
26 May RNS....."President also previously announced its intention to bring the wells on stream by the end of May to capitalise on winter gas prices that were, at the time of planning, projected to rise in excess of US$3 MMBtu. Indeed, EV-1001 and EV-1002, the second and third wells drilled in the sequence, have now been placed on production meaning President has achieved its objective. Significantly, current winter spot gas sale prices in Argentina are US$6.5 MMBtu, much above expectations and a marked 182% increase from January 2021 prices.