Member Info for DRichi

Agreed, looking good, Ask is up to 2.3 on the secondary market

Actually it's better than reported. Reserves are actually greater.

"It is important to note that the reserves as at 31 December 2020 do not represent the total of what is present and/or recoverable in the respective fields but only rather what are present and/or recoverable over the term of President's current licenses as at the audit date. In practise, the Company intends to exercise its legal right to extend its Rio Negro licenses beyond their current terms and therefore as is discussed the total present and/or recoverable reserves in the ground are materially higher."

Question is what is full flow? It should be 4000+ BOEPD, but will be good to see confirmation of this

Appreciate the full audited accounts won't be published till June, however, on 3rd Feb last year an RNS was released with the internal unaudited Group management accounts for the year 2019. I am hoping to see the 2020 figures soon.

As a reminder, here's the summary for 2019 results
*Turnover of approximately US$41m (2018 - US$47m) with average price realisation in Argentina 19% less in 2019 than in 2018
* Average production of 2,414 boepd is 6% up on the previous year (2018 - 2,279 boepd)
* Free cash generation from operations before G&A of US$16m (2018 - US$21m)
* Adjusted EBITDA* circa US$12m (2018 - US$17m)
* Cash operating profit of approximately US$10m after all administrative expenses and workovers, but before depreciation (2018 - US$14m)

It's likely that the 2020 accounts will be published soon, maybe this week or next

5/8s - agree with your estimate. If the SP can start rising again the next big resistance point will be about the 4p mark. A Paraguay farm out deal should take it that far. And when drilling starts that should add a couple more pence with people buying in hoping for a positive result...

hahah! If a couple lunchtime beers could help the SP like this, I'll be very happy to up the ante and pour whisky on my cornflakes tomorrow for breakfast!!! ;-)

Or.... the price rise from two weeks ago from 1.5p to 2.35p was because there was a rumour going around about good production figures/big Paraguay deal or something that will make the SP rise significantly, and the fall back last week was when the RNS made no mention of that, so 'informed' people bailed. Now the realization that the deal is happening is causing people to come back in and the price is going up up up.....

All just musings, hey ho, lockdown, drinking on Mondays, the mind can come up with some funny ideas. Still though, maybe......

Nice to see PPC has bouncebackability today. Looks like the price just went back sub tuppence for the CGC subscription. Coincidence? Probably, well maybe.....

Nice to see the bounce off 1.8p. The SP needs to do that and finish up. RNS news wasn't bad, (excluding casing collapse which is only a temporary issue), but the RNS was not what the market was looking for. We need an update on Production figures. Confirmation of an exit rate over 4000 BOEPD would do very nicely now. C'mon PPC, let's have some good news in an RNS soon and the SP can go up and stay up....

AParky- Thanks for finding and sharing that information. Interesting read. Makes a Paraguay deal feel a little closer. Petropar has budgeted US$700mn. Means they could definitely afford to drill a well or two with PPC...

Correction just checked the RNS in October 2020, when IFC went down to 98 million shares. Not sure how large their holding was before that, but then RNS at beginning of Nov confirmed the had sold out completely.

So it was a minimum of 98 million shares that were sold, then had to be moved on.

RogueRiver- the lone seller referred to is IFC, who sold out their entire position of 195Million shares back in November for 1.2p. This was because IFC had a change in investment strategy and have moved on to more socially responsible investments. The unknown here is did one of the Brokers (probably JBER) buy most of these shares. If so, that's a lot of shares to be holding, so PPC needed JBER to move most of these on before the price could move up. In the last week/10 days the price has gone up from 1.5p to 2.2p so it looks like the last of the shares sold by IFC have been re-sold.

The IFC bit is fact and confirmed by RNS's back in Nov. What happened with the shares that IFC sold, and the impact this has had/is having is (not unreasonable) guesswork.

I wouldn't bet on it. Any production update is likely to be added on as the postscript to the full year results for 2020, and they might not be published till early February. It would be nice to be surprised though...

We had good volume yesterday >10 Million. Let's hope for a few more days like that and hopefully the SP won't be in the 2p's for long.

Plenty of news in the pipeline, fingers crossed for plenty more blue days...

Well done getting those Production figures. Would like to see them in a spreadsheet on President's website with total amount and avg BOPD per month for each well, but still it's very good to see for Neuquina & Noroeste.

A cpuple years back I asked PL about providing these figures to the market and he replied words to the effect of; PPC won't report monthly amounts as due to fluctuations this can give a misleading impression. But the information is out there somewhere of course! It actually tells a decent story for 2020 here; but why do we have to do so much digging to find these things out??

We won't be seeing Leeds or the Bielsa Bucket in the next round now! Crawley!?!? Hahaha! Love it.

Lack of trust in the mgmt is one of the reasons the SP is so low. Previously RNS would contain good news and then a bad update would be hidden away in one or two lines without many details. What I think would help would be if PPC went OTT with RNS and gave the market full details on every change. More news flow would create more interest and greater trust and these two factors could help the SP.

That and a big stonking oil strike somewhere... ;-)

What RNS are we waiting for at the moment? 2021 plans should be announced this month, which should include news of drilling at Las Bases. Be good to see Production figures for 2020 and the full year accounts, but we might not get those till February. Maybe an update about the gas from EVN-x1 too? ^^

Haha! Seriously Brasso?? How many shares are you holding now?

I picked up an extra 50k, this morning. That's my holding to just short of 1.5M. I must be mad!!! ;-)