Member Info for DRichi

5/8's / Max - The Argentinian fixed oil price was very good for PPC in the last couple years where Brent dropped down to $30 a barrel. Now the price is uncoupled so will rise accordingly. The RNS says $64 expected for Jan, and estimates have a general consensus of oil finishing the year at $75 so that will be another significant uptick on PPC's finances. Re: PG- These wells are not dusters, oil flows from all of them. However, at the moment it's running at reduced rates as they don't have the pumps to extract the maximum amount of oil. I thought the Chinese pumps were supposed to fix that, but as there's been no news, can only assume that hasn't happened yet.

Ask up to 11p now. Let's see what happens next; is this MM's taking down then up by a penny or so to try and create trades, or if this goes to 12p then I suspect that it means good news is about to break. President's SP has a habit of losing a penny or so before bad news, and gaining it before good news. Past performance is no indication of future results etc etc.... but here's hoping for another uptick tomorrow and good news around the corner soon to really give this lift off........ GLA

Well, I think that a conservative estimate is that Group Production should triple in 2018 (to >7000 BOPD), plus whatever bonuses farm outs might bring us. I'll stick with PC for another year, but if the SP has not (at least) tripled in the next 12 months, maybe I'll just sell up, move out of oil and invest/speculate in electric cars like Tesla, and cryptocurrencies and try find the next bitcoin..... I hope PPC do really well next year. Good luck all, and Merry Christmas!

This brings total group production up to almost 3000 BOPD. Puesto Flores looking like a great acquisition. Nice.

AMER have aprox 200,000 more shares in issue than PPC, so that will have an impact on the SP. AMER mkt Cap= 221M vs PPC mkt Cap= 106M. I think PPC will stay about 10p till news. Then, News of successful workovers in EV, or PG reaching 1200 BOPD will increase PPC's Mkt Cap. Was hoping for one or two bits of news (plus possibly another acquisition) by Christmas. Might still happen, might be early 2018....... This time next year Rodney...... ;-)

Northern- you ask how much half a million shares will be worth at the end of next year. This is my prediction for the next 12 months: Current Production 2400 BOPD Workovers bringing more online +2000 BOPD Paraguay drilling +100 BOPD Purchases +2500 BOPD Farm-outs- Unknown...... = 7000 BOPD. Plus I think there's probably a few irons in the fire that I don't know about, so could be better than that. Plus there's momentum to think about, the more BOPD, the more cash in the bank, the more possibilities that will become available to PPC. What that does to the SP? Market perception & my NAV calculations differ somewhat a lot of the time, but hey ho, I reckon 7000 BOPD should be worth 50p a share.

PG is still being worked on, and we'll get an update in due course. Other things that we should get updates on by end of 2018, that will all boost the SP are; * Puesto Flores and Estancia Vieja - workovers increasing Production. * Farm-outs of both Paraguay & Argentinian prospects * Purchases Looking fwd to the next RNS breaking....

Agreed that the SP does seem undervalued. PPC was 6p at the start of the year, and is now 10p. Production has increased from 500 BOPD to 2400 BOPD. That's nearly 5x increase, so would have expected the SP to go up 5x as well. (Actually a bit less than that due to share dilution- but still increase should have been maybe 4.5x which would make it 27p a share).

That would be a great loose agreement; PPC get Chevron's fields in Arg, and Chevron are the farm-in partner in Paraguay. That would be a double boost to the SP. Re: Data Room- NDA is mandatory, PL has confirmed potential partners have been in there & signed that. I don't think that any fees would have been paid, but that's just a guess.

Agreed, and I think the ducks are looking at another Argentinian, probably ex-Chevron basin with some oil producing wells, and some old producing wells which could be brought back online after a workover. Pretty much another Neuquen. Neuquen purchase cost was $400k for the assets plus $22M for the licence to the concession from now till November 2027. According to today's RNS in the last six weeks PPC have raised $21M through the share issue and loan; a comparable figure. Very interested to hear the purchase news.... (Or/and could this be funding for the Paraguay drilling by hook or crook? - Pls can it be a Producing purchase).

75% taken up- but PL's company which owns (just under) 30% did not take any shares on offer, which means that excluding PL's Investment Company the offer was actually over-subscribed. Probably a good sign.....

75% was taken up. Including also the the conversion of debt to equity to get PL 16.8M more shares, that means that as at Wednesday morning, there will be 1,071,938,326 Ordinary Shares in circulation. 75% is a decent percentage take-up. Let's see what PPC can do with this extra cash....

5/8s- Thx. Re-read that paragraph now. Receipts are from Argentina (so implication is PF & PG) but it's for part Oct & part Nov so not knowing for how many days, we can't make any BOPD calculation. I had a free bar last night. For my heads sake, they have to make the RNS a bit easier to understand on the morning after the night before.

The RNS is about Puesto Flores, but that line about $3M says Argentina, so does this include Puesto Guardian too? If it does, then that's not great as $3M at $55 per barrel = 54,545 barrels of oil = 1,818 BOPD from Argentina. I thought the totals were: PF-1400, PG-600. So if the RNS is only about PF that's great, and a significant increase, but if it includes PG, that's a downgrade. Although obvs, it is good news about upcoming workovers, but would be good to be clear about Production numbers here.

Yet more information from PPC as the company announce a significant upgrade to Prospective Resources in their Puesto Guardian concession and the Matorras and Ocultar licences in the Salta Province of Argentina, all 100% owned and operated by the company. The potential scope of these upgrades has led the company to start a farm-out process for the Matorras and Ocultar licences as this will �fast track� exploring the major potential of these prospects and increase shareholder value. The findings mean that Aggregate Paleozoic gas/condensate prospects net to PPC are mean unrisked prospective resources (MUPR) of over 7 TCF of gas with an upside of 20 TCF and 185 MMbbls of condensate. In addition there are new unreported Cretaceous oil prospects of over 40 MMbbls MUPR identified in the area. Chairman Peter Levine said in the announcement that �President, as a profitable producing company, remains clearly focused on positive cash flow, profit margins and materially expanding our production base both organically and by way of acquisition�. With Argentina becoming increasingly popular for inward investment at both major company and mid-cap level there is little doubt that the portfolio assembled by President has significant value and accordingly the shares are still very much undervalued.

Bought today in 5 tranches of 250k. Nice to see.....

Agreed about the SP. That's the way of Markets. Open offer Shares to be admitted to trading in 3 weeks. So not long to wait. Received an email from Peter Levine this morning in response to some questions I had asked. Obviously he couldn't really tell me any more than the information that's publicly available anyway, but, it did give me a good feeling and I have an inkling of some good news coming soon that should really help the SP.....

There are oil reserves and prospective resources.Currently PPC has 40 MMBOE proven (1P=15 + 2P=25) and prospective resources of 200 MMBOE in Argentina & 500 MMBOE in Paraguay. This RNS has added new previously unreported Cretaceous oil prospects of over 40MMbbls. Q1 2018 farm-outs of Matorras and Ocultar are planned. When these farm-outs can change the Oil from Prospective to Reserves, then that should be a significant impact on the SP. (It will double Reserves in Argentina from current levels, even if PPC only own a % right of the new revenue).

PPC announced last week that the PoO for Louisiana oil had gone up from $47 per barrel to $57% per barrel. That's good news you've spotted on twitter. Be great if PPC can get more $$ per barrel in Argentina as well.

PPC gets $55 per barrel. For Puesto Flores & Estancia Vieja, the Net backs per barrel = $27 So a very tidy profit margin.