Member Info for DRichi

of 1M +. Be interesting to see if that flurry continues today and tomorrow and for how long. Also be very interesting to see the holding RNS's. Maybe Schroders have sold out, but who is buying?

Nice start to the week. Hopefully this is the turning point. If PPC come good on their stated aims then this share is hugely undervalued. Just that's a pretty big 'if'. But remember, past performance is no guarantee of future results. So there is still hope! ;-)

4000 BOPD by YE seems reasonable. Here's a reminder of PPC's prediction that they published just over a year ago with the 2018 Results, on 23rd May 2019.

Outlook:

· President remains on track to achieve year end exit target of some 4,900 boepd

· Fully funded US$50 million 2019/2020 Work Programme: - 15 new wells, some 20 workovers with pipeline and infrastructure works - Programme set to deliver 50% exit production growth year on year

· In Paraguay, the farm-out process continues whilst preparations are underway in any event to enable drilling operations to commence at Delray Main in late Q4 2019 or Q1 2020

· Jefferson Island licence is progressing with seismic re-interpretation scheduled to be completed by the end of June with drilling now expected to commence in H2

· The drive for material gas production from Rio Negro continues with positive progress being achieved with intriguing new potential prospects identified some of which will be addressed by drilling before the end of the year

so that's circa 4000 BOPD by YE 2020. That hopefully is a very conservative estimate.

Problem with PPC is even the Fake News missed the increases in production target!!!

I liked the Financial Statement. PPC is running a profitable business. It has weathered big storms. Production is increasing. Debt paid down. I think it's significantly undervalued. And no more shares to be issues this year. That's very good, as it's always been the additional shares issues that have destroyed this SP.

Well, I think (hope) this is the lowest the SP will drift to, it's gone sub the 1.85 offer price which was a 25% discount. Conferences today and tomorrow, lots more promises of jam tomorrow (I would imagine), and hey ho, maybe some of them will come good. I'm in for another 178K @ 1.675. I must be mad..... ;-)

From Rob Shepherd, Finance Director on ADVFN,

"Sometimes appointing a new broker is a sign from the Company that they've found someone who they think can better help articulate the investment case than the current incumbent, that's all. I'm doing two webinars this week (Wed with ShareSoc and Thu with AJ Bell / Shares Magazine) and we'll also do an investor Q&A after the AGM on the Investor Meet Company platform so plenty of opportunity to hear the story live and ask questions. Rob Shepherd"

Thx AParky- am following your guidance here, will leave my core holding alone, but will try trade a smaller amount. 1.5p seems unlikely now, but anything sub 2p and it should be easy to make a decent profit relatively quickly.

RNS Today- New Broker Shore Capital replacing Panmure Gordon & Whitman Howard (Joint Brokers). Maybe it's because Shore Capital are more Bullish about selling shares, or maybe they charge less commission, or maybe PPC are thinking about another fund raise?? After the last few attempts, let's hope it's not that.

Good for you AParky. I've got a cheeky bid in at 1.5p which expires on COB Monday. Expect I'll end up paying a bit more than that on Tuesday. Ce la vie....

Looks like the 1.5M share seller has stopped now. Maybe this SP is now the bottom? Let's see what happens Monday when the new shares are admitted to trading, even if it dips briefly then, hopefully from next week the SP can start rising again.

@Northern- I do hope you are right. IMHO anyone getting in at these prices should make a very decent profit. When I get some spare cash I'll buy a few more too...

Positive RNS - but the SP has dropped due to another 1.5M sell. Been a few days of those now. maybe JPM or Schroders?

Paraguay- Unfortunate the farm-out deal has gone on hold due to COVID19. BP have written their assets down by $17.5Billion today due to low oil price. Presumably other oillers are doing the same which means cutting costs, retreating to core operations = less money for new exploratory high risk/high reward initiatives like Paraguay. So maybe the farm-out will fall through completely. Would be a pity for PPC, as a farm-out de-risks the project significantly, and would have been very good for PPC.

It's strange timing for this RNS. Wouldn't it have been better to have released this RNS when the SP had moved up to 2.4p a few weeks back, and then it could have accelerated the SP growth, maybe got to 3p, and then they could given the shares to Trafgura, and at 3p rather than 1.8p, it would have been a lot less shares to issue, and less of a negative impact on the SP.

Positive news about both Argentina and surprisingly, Paraguay. An additional 1000 BOPD is significant. And a farm-in in Paraguay. Fingers crossed this deal gets signed, could be fantastic for the company and the SP.

@Brasso - Writing the Arg numbers down it does indeed look bad. $22m for the PF and EV assets in 2018 + spending $25m on developing those assets, and PPC has a current MC of $50M plus many more shares in issue. Whilst this then has been rubbish for the SP, on the bright side, at least it has turned PPC into a profit making organisation, which has been able to continue operating throughout the COVID crisis.

I agree with AParky about it getting harder & harder to look on the positive side though. Right now this investment feels to me like a day out at Epsom or Goodwood or Cheltenham, when I've lost on the 1st five races, and so am putting all my cash on a 40/1 outsider in the hope of finishing the day up.

To be fair the initial Argentine deal a couple years back was quite out-of-the-blue, and that was very good for the company. Hopefully, a "Substantial and Expeditious" transformation can happen. "Substantial and Expeditious" - sounds like something Mary Poppins would say, or, more like, Substantialandexpeditiousbutthesharepriceisatrocious

Anyway, fingers crossed for some good news after the 23rd.....

AParky- "PL could hand them his stake having had enough" - if that happens PPC will be sold on the cheap and we'll all be very upset. There's a few things however that make me think this won't happen. 1) PL on the conf call sounded upbeat and excited about the future prospects and 2) generally very successful people are driven, and care about their legacy, therefore I think if PL was to sell out he would prefer to go with a bang rather than a whimper.

It'll take a rabbit from a hat right now to make it happen, but hey ho, these are some strange times we're living in, so you never know....

To make a bid isn't it most likely that Trafigura would 1st acquire 30% of the shares in issue so that a bid would become mandatory? That sort of Buying would drive up the SP significantly, then a Bid would have to be a Premium on that, and looking at PL's record it certainly won't be the 1st bid that would be accepted. So we can add a few increases on that.

Who know's with M&A's anyway? All speculation, and I have no idea really but would be very surprised if this company was sold at a SP in the single digits.

@Brasso- I have a daughter, good shout probably best to move all the shares into her Junior ISA forget all about PPC, and just invest in Amazon.

@Ohmetoe- Agreed, probably if you've heard of PPC for the 1st time now and can get in at sub 2p there could be a huge upside and good returns to be made. Just it has to go 5x for me to break even. It might happen. I'm still hoping it does. Just probably not in the very near future....