Member Info for comeonvog

Waterflood .
Potentially significant implications for arresting and reversing declines in certain of President's mature structures in Rio Negro
Lets hope so .

KRTH Looking back perhaps my comment was a little harsh and i apologise. I am prepared to give PL the benefit of the doubt at this stage , but that is my opinion. I still think Trafigure are behind more of the decision making that we are privi to .

" arrogant attempt at bullying KRTH " on a day we are told of the Gas sales price. I get people are hacked off with PL and i am not adverse to agree in that fact when appropriate , we move on. Most stocks have an inflection point , perhaps we are at that point and it's time to get behind this investment / punt. I will support my investment when i think it is warranted .

"Notwithstanding this and for the avoidance of doubt what we can state is that in respect of the prospects currently being considered, it is not currently envisaged that funding by way of equity issuance would be required"

NicetoMichu So my over exuberance at the fact we are getting a very good price for our gas upsets you ( 100% more than last year) Then we have to endure your inane posting about how bad PL is but you have managed to break even, interesting. No wonder the stock never get's a chance if people like you are constantly trading the range. Perhaps it's not all down to the company's performance but traders like you.

DRichi I also feel that change , starting to build something much bigger than was the case 12/18 months ago. Time to take PPC seriously once again , we wont be the only one's running the numbers on this . IMO

Personally i would like them to take advantage of the peso depreciation as they did with the loan for the treatment plant and Banco Hipotecario. That seems good business to me.....
"As announced on 22 December 2020, the project has been funded by an Argentine peso denominated loan of US$5 million meaning that it is repayable in pesos in the total amount of that currency using the exchange rate applicable when the loan was taken out. Due to changes in the peso dollar exchange rate, the amount of the outstanding loan in dollar equivalent if it was repaid as at close of business yesterday shows a reduction of US$270,000 resulting in US$4.73 million dollar equivalent as the outstanding principal sum. Interest paid/accrued to such date on the loan is approximately US$160,000 giving a positive differential of over US$100,000 since the loan was taken out in late December."

AParky It's all starting to stack up nicely, no need to over extend at this time PPC have plenty of options.

" Later in H2, there is a planned 3D seismic data acquisition programme over a formerly prolific Canada Grande field within the Puesto Guardian Concession, Salta Province to find new well locations to target and drill the productive A6 sand there. An initial land survey by potential contractors is currently underway. The best wells in Canada Grande produced initially as much as 1,000 boepd from the clean A6 sands. If the data indicates commercially viable well locations, then it would be President's objective to drill in Canada Grande following on from the H2 drilling in Salta."

KRTH when PPC has just announced a 100% improvement on the price they are selling the gas lets think a little before posting negatives. We are now mobilising to start the oil wells in H2 , i think they will have plenty of cash.
· New treatment plant and infrastructure set to start first phase operations in Rio Negro by end June bringing immediate cost savings of $4/boe.

KRTH Like were bothered what you think.

TU 3rd feb 2020 .... Average production of 2,414 boepd is 6% up on the previous year (2018 - 2,279 boepd)

TU 22nd feb 2021· 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. 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.

"President continues to pursue strategic options for growth whether in our core business or through our recently formed green energy businesses. Whilst detailed due diligence is currently being conducted on a number of prospects, there is nothing concrete that President is able to announce. Notwithstanding this and for the avoidance of doubt what we can state is that in respect of the prospects currently being considered, it is not currently envisaged that funding by way of equity issuance would be required."

NO PLACING REQUIRED.

And also........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.

than at the same time last year,didn't see that coming......
"We expect a continued flow of further announcements both on operations and on strategic initiatives during the course of this quarter".

Ohmetoe "urge patience" seems to be the word on the street, so in answer to you question possibly.

NM No need for hope we will get there.

And only the long's will get the full benefit IMO.

1. H2, a further three oil well drilling programme planned at the Dos Puntitas field, Puesto Guardian Concession, Salta Province.
2. New 3D seismic data acquisition planned over Canada Grande ( The best wells in Canada Grande produced initially as much as 1,000 boepd from the clean A6 sands).
3. Paraguay Farm in.
4.New treatment plant and infrastructure set to start first phase operations in Rio Negro by end June.
5. Atome Limited, a new alternative energy subsidiary formed to focus on developing a hydrogen and ammonia production business.
6. Robust Group net 2P reserves of over 24 MMboe as at the year end with additional 9 MMboe of 2C contingent resources convertible to reserves on licence extensions.
7. Next drill results.
8. New gas well EV-1001 to be completed and projected to be placed on stream within 14 days ( RNS 30th April ).
9. President set to export oil at or around end April.

Ecclescake Thank you.

claudereff " wonder if someone has got wind of a placing/fund raising hence all the news flow " Really !

AParky Morning. Could you post link by any chance. This could be a good move and i see no reason for a placing as they could go down the same route as the Treatment plant .
"This type of loan has been propounded by the Argentine Government to stimulate growth and investment. Taking into account those projected depreciation rates and the fact that President is paid in pesos at the dollar equivalent at the time of payment (not invoice) for its oil and gas, it is considered that the loan is likely, in the absence of unforeseen circumstances, to have an effective zero or negative rate of interest. "

robaich thks for clarity, wish you luck with that buy though i don't think you will need it.