Member Info for DRichi

Agreed. All good news here but very frustrating SP.

When the news broke the other day before the markets opened LSE had put the Ask up to 11.5p so I think the MM's expected a big rise, just not lots of buying so SP stays the same. The 'news' this week though was a press statement responding to a rumour, it's likely that the deal has to be officially signed before the benefit can be added to the SP.

I'm hoping the 1/2 year Financials that are due out by end Sept will put some meat on the bones, so to speak, and when the actual figures are released, then hopefully that should have an impact on the SP. (Still dreaming of a re-rate but any increase would be good).

has gone from 30p to 40p in a month. That's a 33% increase. It feels like it's trying to break 40p now, and this is all 'pre-news'. If I could make 33% every month, I could give up my day job tomorrow.

This share is doing fine now, deal should be signed & confirmed soon. Rubbish that not everyone on the BOD knows what 'couple' means but hey ho the SP is rising, as long as good news comes then it will go very North PDQ. As long as SP goes up, what's another week?

PPC has made proposals for the granting of 10 year exploitation concessions for each of the Puesto Prado and Las Bases areas previously operated by Chevron and given that they have complied with the minimum bonus and work commitments they expect the concessions to be awarded.

The Puesto Prado is interconnected with and borders the north of Estancia Vieja with 57.3 km² and 23 shut-in wells of which 5 are available for reactivation with last recorded production of 150b/d. It also,has a treatment plant capable of 600b/d to truck to a local refinery. At Las Bases, which is 15 km north of and interconnected to PP and covers 153km² they have a gas field with 5 wells, all shut-in. More importantly it has a compression plant (currently out of commission and needing repairs) but was handling 35 MMscf/d from 3/4 wells. It also has a pipeline running to its own tie-in into the regional gas transport to market. President’s Estancia Vieja field is already connected in to this pipeline as Puesto Prado has the benefit of its own gas pipeline running from Estancia Vieja through Puesto Prado to link in with the Las Bases pipeline.

This deal not only gives critical mass in the Rio Negro Province for economies of scale and synergies, production upside and subsurface potential but crucially pipeline infrastructure providing a route to market for President’s gas. This is the main reason as to why this deal is being done as the reserves, whilst will help additionally, are not ‘material’, but the expansion of President’s footprint certainly is. When I talked to Peter Levine on Core Finance last week and asked him whether he could monetise Estancia Vieja gas he said ‘wait and see’, I waited, now I can see what he has done. This is a good deal for these reasons, it ticks the boxes for these infrastructure reasons alone and is funded from PPC’s strongly cash generative position.

This is a very good deal. It's at a price President can afford, increases it's acreage footprint, and will increase it's Production. Like the workovers this year, I expect the payback for this new acquisition to be very quick.

Fingers crossed the deal goes through okay, and that the workovers , drilling and storage and connections from there all go smoothly.

Successful outcome from this is by end 2019 this is producing 2000 BOPD. That should give the SP a decent raise once it gets going....

This much movement PRE-news, means that when the news is official the movement up will be *VERY* big.

80p open tomorrow and over £1 by end of the week..... Haha! I really don't know, but nothing is impossible....

Contract news is coming.....

Let's see what the RNS says when it comes. Tomorrow AM maybe?

Looks very good. Purchase to be completed in Q4.

The corporate presentation shared last week, had two acquisitions the 1st of which was to add aprox 1000 BOPD in January 2019 rising to aprox 2000 by Dec 2019. (Figures based on shading on graph on presentation).

Looks like this is the 1st acquisition. 5 wells ready for reactivation, and more drilling prospects too.

Really good update. Pleased to see PPC expanding, and going fwd there will be significant increase in production.

When CTAG delisted my broker, Barclays sent me a paper certificate for the shares. If CTAG start trading on a new exchange, then my shares formally on AIM/LSE would still be worthless yes?

Is there a process to convert the AIM/LSE shares into shares tradable on the new exchange?

A couple = two. A due, a twosome, a pair etc etc.

Except, sometimes when I tell my Mrs that I'm going to the pub for a couple pints, then it can (on occasion) mean a lot more than two!! ;-)

Cheers Bigsmoke- Yeah- I'm expecting the contract news to come through and be very positive for VOG. If all goes well, 65p soon could be very possible..... fingers crossed anyway.

And of course- plan is to make money here then invest it into President. That's a bit of a slow burner, but so undervalued, I use it rather than a cash ISA. Most secure investment ever.

Of course England will win the Ashes back! Burns and Bairstow as Openers, need a new #3, Root at 4. Euro finals for the football team? Maybe.... just have to avoid, Croatia, Belgium, Iceland etc etc....

Future predications for SP? It's bag of a fag packet calculations, and who really knows but..... a few weeks back on this board lots of contributors gave their valuations of what fair value SP for PPC is now. The general consensus is that at the moment fair price would be 15p-25p a share. Let's use the mid point- 20p.

Now PPC produces 2700 BOPD. Projections for end of next year are 7800 BOPD according to the presentation on the website. (Workovers, new drilling, acquisitions). Production increase of 290% would = SP increase of 300%-400% (75p-90p) as Production at those levelswould mean spare cash flows circa $7.5M cash per month which would give PPC huge scope to exponentially increase Production through more workovers and drilling.

All this extra cashflow would mean Dividends are possible = +10p on SP due to institutional investors coming onboard = £1 a share in 2020.

Ps. If PPC get lucky and find good commercial oil flows in Paraguay then SP will go through the roof £3, £5, £9.72, who knows? In the way that Imperial, CHAR, RKH, GKP did. "Booooom!" To go all Kevin Keegan, I would love it, jus love it if I could type that for real next year....

Just bought in at 37.15p. Contract news soon, and I'll be out with 150% by end Sept. Would be nice anyway.....

Divs- PPC aren't there yet. $2.5M a month 'spare' cash could be used to pay a quarterly, semi-annual or even annual dividend. But, at the moment it's needed to save towards; cost of acquisition's next year (5M-50M) + exploratory drilling in Paraguay (last time cost PPC approx. $100M) + cost of workovers in PG, PF, EV.

All that goes well and by 2020 PPC will be worth £1+ a share and paying dividends.

Work in rest of 2018 (slide 18) - Drilling development in PF, Workover in PF, Workover in EV.

Slide 20- Two Acquisitions mentioned. 1- Jan/Feb '19 and the 2nd in Aug/Sep 19.

Also slide 20 each horizontal line is 1000 BOPD. So predictions for YE 2018 are 3000 BOPD. HY 2019- 4500BOPD, and YE 2019- 7500 BOPD.

From 2700 BOPD today to 7800 BOPD at end of next year would be a huge increase.

Thanks Stockable- agree with all you said.

Couple additional things- Paraguay new President is very supportive of PPC and it's very important to him that this is a success. Creation of jobs, wealth, building energy infrastructure etc

Argentina Listing- is OFF the table. Arguments to do this not strong enough, and not worth share dilution. In fact, regarding share dilution more generally, to quote PL, "President have no plans, and do not want to issue any new shares. Cannot categorically say that it will not happen, but it would take an exceptional event for any more share to be issued to the market". - 'Special event' I took to mean an acquisition for which more funds were needed upfront, but that's juts my interpretation so could be wrong.

I turned up after the Presentations (I think there were about 8 companies presenting). Location was nice, food and drink was good too. Although, I only stayed for 2 drinks, so unfortunately didn't get the chance to talk with Rob, but had good chats with other investors, and quite a long discussion with Peter Levine. Key points about President:

Group production is now at 2700 BOPD.

The gas at EV flows enough to make this 4000 BOEPD now, but at this moment, PPC cannot extract that much gas because there is literally no where to put it. This is something that will be looked at next year.

PG- is stable at 500 BOPD. This will be increased next year, but it will be by drilling 2 or 3 new wells in PG. The Chinese pumps thing- seems there is blame on both sides so reading between the lines I think this is done & dusted, and there will be no compensation discussion on that.

Paraguay next year- likely to not happen until Q3. This is because at the moment PPC is cash positive so every month the war chest of funds increases, and before starting in Paraguay there's a minimum reserve amount of $$$ that's wanted. Also Paraguay- drilling next year will be next to Argentine border where Presidents Argentine basin is, and geologically the rocks are millions of years younger than the part of Paraguay which had the non-commercial oil a few years back. So when drilling commences there should be much better chances of striking commercial oil.

Acquisitions- very much straight batted. Obviously if the right opportunity is available PPC would be interested, but I didn't manage to get any insight on how close this may/may not be.

Sorry - mistype- it's interest rates at 60%.

I'll go make myself a coffee.....

PPC production figures this year have been good. PF workovers being completed in time and under budget. On the flip side; no transformational acquisitions though, and no updates on PG.

I suspect though that the current deflated SP is due to the macro situation in Argentina. Macri admits ‘emergency’ after collapse of investor confidence following IMF plea. Peso has dropped more than 50% this years vs USD, and inflation is now at 60%.

I get President is paid in USD for it's oil production, but need some stability in the Argentine market to start attracting institutional investors. Those are the ones that buy large amount of shares and can get SP to rocket.

Kid- Answers to quite a few of your questions are available. Eg. Prices paid, and gross profit per barrel per region for 2017 are included in the 2017 Financials. Potential Acquisition- in the last investor call, (if memory serves me correctly) either Rob or Peter said about bidding $5M this year, but the eventual price paid was $25M.

Sad seeing pubs close. Underlying problem I guess is that the price of beer has gone up more (in %) than people's wages. Don't know much about HS2, but would've thought that maybe a train connecting Blackpool, Liverpool, Manchester, Leeds would be better and concentrate on making a Northern hub rather than making a high speed link to London.

Also, the Houses of Parliament are falling apart, probably need at least 5 years renovation work doing, so maybe the Gov should move to York for a while. These are some not thought through plans for helping rebalance the UK economy away from London. But well, maybe some fresh ideas are what's needed....