Member Info for DRichi

Nicetomichu- some of the stuff is just the risk you take investing in exploratory drilling. E.g. unlucky in Paraguay. Other stuff makes you question the approach taken by Mgmt like the Chinese pumps embarrassment. But it's the dilution that has killed the SP more than anything. Infuriating, bank balance destroying dilution.

Wish I had sold out at a small loss years ago rather than sitting on a huge unrealized loss. But hey ho, as I'm still here, here's hoping that the next hand PPC play is a royal straight flush... You never know!!! ;-)

NorthernM- keep on posting; your optimism has been much appreciated this last year with the SP in the doldrums.

Maybe 2021 will be the year the good ship PPC manages to get out of the doldrums and sails north. If the IFC 95M shares can all be flipped soon, maybe the SP can re-rate to 3pish, there's more oil and gas to be brought online, whih coupled with a rising oil price could add another few pence onto the SP. Then possibly a Paraguay farm-out signed by end Q1. Plus PPC might go get Gas from MDT. 3rd party debt should be paid off by the summer. Lots of reasons for optimism here. Good luck President and to all who sail in her

This share is hugely undervalued as a ratio to EBITA, Reserves and it's plans for growth next year. Undervalued because of a lack of confidence due to past mistakes and excessive dilution. But maybe, just maybe the tide is turning. There is huge potential here to make money, but we'll need work-overs and exploratory drilling to be a success. Plus what price a deal in Paraguay?

You pays your money, you takes your chances, but from here, hopefully things can move (significantly) in one direction. Maybe 2021 will be the year. Good luck all.........

The RNS states, "The interest rate in pesos is fixed at 30% with the projected rate of peso depreciation in Argentina for 2021 currently estimated to be in the range of 28-40%." If that is the range taking a position at 30% is a shrewd move. Of course it could be argued that there is a much greater downside risk for the Argentine peso, which could effectively lead to PPC's debt here being (part) written off.

The new treatment plant is a huge win. Savings of $2.5M a year. To put that in context, 1H 2020 EBITA was 1.5M, (2019 full year 11.5M). And the project is being paid for by moving to a lower cost loan . This is win-win.

"New treatment plant to be built in Rio Negro with a projected completion of August 2021. • Will eliminate third party treatment costs with total savings estimated at US$2.5 million per year. • $5 million aggregate cost of project funded by favourable new Peso based medium term loan provided by Banco Hipotecario"

I'm very impressed with this. Really hope the SP can have a big rise now.....

and 353 boepd of gas

Cheers AParky. Another blue day today and maybe our 1.7p bets will be in the money too...

Traditionally the SP here has moved more on general market sentiment than company progress, so maybe the tick-up is due to the rising oil price. However, hopefully the JBER overhang from the IFC sell has just about been cleared by now, and this can go up to fair value soon.

Fingers crossed anyway....

I bought a handful of shares here on the bell this morning at 1.56p. On my main holding here I'm way down but forgetting that for a moment, the SP has risen today and I'm up on this trade. In profit on PPC!!! Yeeeeehhhaaaaaww!!

Haha! Forgive the self-indulgence, but that's a sentence I was wondering if I would ever be able to write. This calls for a celebration! Time to open the talisker; cheers!

EVN-x1 we should have an RNS confirming the 200 BOPD of oil are in production tomorrow. Question is what is the status of the 353 BOEPD gas there....? Would be really good if there is progress with that too

Maybe PPC were not looking that hard for farm-outs. A strategy that makes sense (after the big exploritory stuff failed), is increasing production little by little through low-risk workovers etc,paying down debt, increasing cash-flow so that PPC have the funds to try again on their own.

There is lots of gas in MDT, and masses of oil in Paraguay. What are the odds that PPC would get it right next time and find commercially viable flows? I would say I wouldn't bet on it, but as I bought my ticket(s) a long time ago, here's hoping they can get their ducks in order and have a go, and strike it lucky....

From Drilling programme so far PPC have added:
LB-1001, 588 boepd, Gas
LB-1, 120 boepd, Gas
EVN-x1, 200 bopd, Oil + TBC 353 boepd, Gas

From the workover programme:
PFE-1001, 100 boepd, Gas

Still awaiting updates from the workover programme:
PP-13, EV-20, PFO-6, PFO-26, PFO-35.

All workovers, drills so far have been completed to budget, and have achieved successful (even if not over-whelming) results. Compared to drilling campaigns and dusters in the past this has gone quite well. Hope PPC can get as much oil and gas online before YE as possible, and be interesting to see what the actual exit rate figure is for 2020. Hope for some more good news from the workover programme soon.

PPC have performed well this year, paying down debt, diversifying, increasing production, succesful exploritory well opening up EV North. But with increased shares in issue and some big II selling the SP has dropped (plummeted to previously unimaginable depths).

Do we know how many shares JBER have to offload still? Is there a way to calculate this? I'm hoping that once they are out the SP will rebound like a bouncy kanagroo on a spacehopper. One can but hope.......

Be good to see RNS's confirming when the Oil & Gas from the previous workover wells and this EVN-x1 come online. The Ask went up to 1.9p at 9am on the day the RNS was released. Hopefully the selling will be out of the way soon, and the SP can rise properly.

At least it's the oil going into production and the gas being held back. Better than the other way around. Oh well, hopefully they can get teh Gas online as well somewhen soon.....

This was the well that I though would have the biggest impact on the SP, with it's being explorotory and a success here opening up EV North for further drilling.

Annoying II selling. Did we ever get confirmation that JPM are completely out? Annoying we can only see greater than 3%, be interesting to see how much (if any) Norges have left.

It is hugely frustrating. Good news yesterday, the SP goes to 1.9p early doors then falls back to the previous days Close, and now we're still at 1.625p. Good news and no SP move.

Still, at least the RNS was positive news! With rose-tinted specs, one could hope that the paying down of debt, the increased production of Oil & Gas, through workovers and now an exploritory drill will all add to the pressure like shaking a bottle of champagne, so when the II's (poss Norge)'s are all out, JBER can let the **** and SP pop! (bit of a tenous analogy- but you know what I mean, ('Arry))

Yahoo finance reckons 2.5p a share is fair value. https://uk.finance.yahoo.com/news/president-energy-plc-lon-ppc-120710865.html?guccounter=1

Although, I really do like this line, "Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy"

Oil- it's 200 BOPD extra.
Gas-"Due to the success in this lower interval, the upper gas-prone interval in the well will be kept back to be tested and placed into production at a later date. Initial production projections in respect of this upper interval remain at 60,000 m3/d (353 boepd)."

That's 553 BOEPD, which is better than expectations. This is good news, increased production. A drilling success, 1st well in this EV North, which should lead to new drilling, increased Reserves, and a better SP.

The Market reaction is underwhelming, but que sera. More production = more profitability. PPC need to continue doing this and hopefully the SP can kick-start soon....

3 years later kinda the same story, except with more shares in issue, and a lower price for oil.

But, it's good to remember how much acreage PPC have licenses for in Paraguay. If a farm-out deal can be done, the potential upside is huge. Of course, if it was that easy or obvious maybe a deal would have been done by now.

Written 3 years ago - https://www.stockopedia.com/content/president-energy-ready-for-take-off-226763/

"President Energy is an oil and gas company with a long history of not fulfilling its potential. Only now things may have fundamentally changed. It has moved from simply being an idea to actually being a producer. Moreover, its assets are huge with fields in the US, Paraguay and Argentina. Although difficult to value using Stockopedia metrics, the upside could be very substantial.

It's producing some 300 BOPD in the US. Not much by most standards. But it's getting the oil out of the ground and running the operation profitably.

Paraguay is a completely different story. Its acreage is simply enormous, some 8.4 million acres (Apparently it's the size of the US state of Maryland) and it has a large body of seismic evidence gathered over a long period of time to support its optimism. It's now looking for farm-out partners.

As for Argentina, it produces some 2000 BOPD after what appears to be an excellent acquisition from Chevron. In addition, last month it bought two more fields and has just announced that it will begin workovers on five wells within those fields next month. It also pointed out that it has the necessary infrastructure in place to go ahead with production from these wells by the year end if the results are positive.

Something I really like about the company is its focus on generating cash. It has a programme of workovers where it brings back into operation wells that have been shut-in. Basically, it's a lot cheaper and less riskier than a full-on drilling campaign targeting new resources. At the same time, there is the huge potential from farm outs.

Like all these plays, it's clearly not without risks – it's currently experiencing problems with a pumping system that is delaying its production in Argentina. And obviously the price of oil is almost impossible to predict"

Over twice the price by Christmas. Nice.

Fingers crossed....