Member Info for DRichi

Ask is now 2.9 on the Plus market.....

Is looking good today. 13.45K buy went through now at 2.69p, and there was a 15k buy at 2.54p this morning (on the secondary market- PPC.GB.PL). Decent sized buys- suggesting confidence in President

Hopefully more big buys coming in later and tomorrow and next week.... and this is all beginning to get a bit exciting.....

Thanks- that's sounding a lot better now. It's great PPC having these plans and ambitions, but past experience shows it can be painful when it comes to paying for them. This time though it's sounding different. Here's hoping for a different result when they do go exploring in Paraguay....

Okay- so if the 1st well costs $15.5M, PPC will be liable for 40%, $6.2M of that. Maybe that's a cost that PPC can pick up from all the cash it's generating each month?

Let's hope for a lucky strike in Salta next week that a following increase in Production and cash flow that it'll lead to

Thank-you. If 60% of the 1st well could reach $15.5M, then PPC could still have to pay the other 40% which would be $10.3M.

Maybe part of the cancelled share premium account will cover that. Or maybe it can be covered by the monthly income from the working Argentine & US wells.

CPC and President now have split 50/50 ownership of the Paraguay. Is there details of what CPC are paying for their 50%? Are they paying all the drilling & exploratory costs and basically operating it?

The Company estimates that this complex has 230 million barrels of Pmean unrisked original oil in place. If* they can strike, owning half of that will increase President's value many multiples...

"In the meantime the various important strategic workstreams continue in other parts of the Group including the forthcoming IPO of Atome Energy and the Paraguay farm out of our significant prospective exploration acreage to be concluded now within a matter of a week

"Whilst it may seem to investors that many things are happening in succession, President has been working away on all these initiatives for a considerable period of time and they are in no way happenstance. All is under control."

Good word, "happenstance" - I like it! It does feel like the company is growing in confidence now

Elland (Road?)- I'm sure Leeds is lovely. No offense intended.

AParky, the bid dropped back a bit after I posted the message, so we can't get too excited just yet (this is PPC after all), but I think that for the 1st time since the 1st Paraguay drilling (howevermanyyearsao) I am very optimistic that things could go well and the SP might soon be hugely improved.

Nice to be feeling optimistic about this. Maybe this time..... ;-)

with Barx.

How many years waiting to be able to post messages about President's price going up?? Haha! It's good feeling at the moment, and who knows but this good be a good long blue run. GLA.....

When reading Atome's listing notice it had PL's country of domicile as Switzerland, so that's maybe he was back at home for the interview. Plus it's gotta be a lot nicer than Leeds! ;-)

The good news is the additional 230 BOEPD gas that has been achieved.
Paraguay- sounds like the can is being kicked down the road again, but I guess it's getting closer and we might hear confirmation of the farm-out partner next week.
Exploratory drilling in Salta is on schedule, we won't know the results from this well for at least another week. Fingers crossed it' s a strike and it's good news, but for now it's an unknown

The lack of momentum is surprising as the RNS today was so good that they even issued it twice!

I'm sure I read in a recent RNS that the reduction of capital in the company by way of cancellation of the Company's Share Premium account will 1st be used to be off any outstanding debt, and then the rest will be used to distribute the in-specie Atome shares to us. IIRC in the YE accounts BS, the Share Premium accounting line was aprox £150M.

People buy shares to get dividends when it's a 2%+ dividend. If the share dividend is say 2p, that's almost a 100% dividend. Even if it's worth 1p per PPC share held, and PPC SP goes up to 4p, it would still be a 25% dividend. Which would be huge. I guess we have to wait until all the details are in, but it just seems too good to be true. There will be a catch, this is PPC, there's always a catch....

https://www.atomeplc.com/
https://irp.cdn-website.com/c212f864/files/uploaded/2021%20ATOME%20IPO%20Investor%20Presentation%20%28rv.6%29.pdf
There's the links to the presentation saying to raise 9m GBP for 20% of the share capital

I posted on an earlier thread using £40M value for Atome. Raising this to £45M. PPC shareholders in PPC will receive 65% of shares in Atome. 65% of that is £29.25M. There's 2 billion shares in PPC. So dividing £29.25M by 2 billion shares = a dividend of Atome shares worth 1.46p for every share held in PPC!

I hope that's the case, but it seems to good to be true

President's SP is a low multiple of it's EBITDA compared to it's peers (as a result of years of loss of market confidence). If that confidence is starting to return then the SP should move to reflect this.

Big question though, is what is the value of Atome at IPO date?

I don't think anyone invested now would sell before the Record and Dividend dates. So if it's only Buying till then in theory we should have Blue days from now till then (mid-Dec-ish).

The RNS today said that PPC shareholders in PPC will receive 65% of shares in Atome.
Atome is (provisionally) valued at £40M - 65% of that is £26M
There's 2 billion shares in PPC. So divvi £26M by 2 billion shares = 1.3p a share!!!!!!

So for every share we hold in PPC we will be given a share worth (very aprox) 1.3p
With PPC trading at 2p that = a dividend of 65% A 65% dividend?!??!?!?!?!??!?!

Surely it can't be that good??? Or can it??? Please advise? What's your tuppence worth?

Nice to see a blue finish above 2p. Volume is still low, but to be fair, if I was sat on the sidelines wondering whether to invest or not: if I was primarily interested in Atome, I would wait until seeing the T&Cs of the in-specie, and if I was primarily interested in President I would be waiting for details of the Paraguay farm-out partner and the Salta drilling results. So it could well be that the world and his wallet are watching and waiting and wanting to invest. Or then again, maybe it's just us.

Back to the beers now. Cheers and good luck all. You never know, this might turn out to be an alright investment after all.....