Member Info for DRichi

I expect to see an announcement confirming the compensation that the failed drilling operator owes PPC soon*. *Soon is very relative so can mean anytime between the time when I next want a beer (this evening) and when England next win the football world cup (in this lifetime?)

PL was probably in town for a few reasons to be fair. He could have gone to the Lady Antebellum gig at the O2 on Tuesday night and if he's sticking around till the weekend it's Spurs away, so he might fancy a trip to Wembley to enjoy a rare away win. 9p paid now. Best price so far this year. Double figures coming soon.....

on Barx at the moment. (9:05 12th Oct). Not that I'm selling any of course. This time next year Rodney..... ;-)

EV = 1200 BOPD at $55 = $66,000. Presuming the well is producing for 365 days a year then that would = �241M. Accoring to the RNS on 21st Sept, "The Concession...in the prolific Neuqu�n Basin (produces) in excess of 1,200 bopd, the Concession currently sells its oil at US$55/barrel which is transported by pipeline to where the buyers offtake the product. At this price, the Business generates a current annualised turnover of approximately US$25m with positive cash flow presently running at US$1m per month after field opex but before capex and G&A." From EV at 1200 BOPD that's $25M EBITDA. President believes that it can increase this to 3000 BOPD, which would equate to $62.5M from EV. Plus all things being well, 1,200 BOPD from PG, and 300 BOPD from Louisiana, which equates to aprox another $31M. = $93.5M. Of course that won't be the 2018 total as these are annualised figures are some of these wells won't be put into Production for all of 2018, which is why I suspect the House broker forecasts YE 2018 $69.5m. But still it's looking good. Plus, I do expect these figures to be revised when we can add Paraguay to them.

Correct about prospects not being priced into the SP, now it's only Production. Let's say PPC did realise it's known prospects in Argentina & Paraguay. The Neuquen basin added 5.46 MMboe, of which aprox 1/3 is in Production. The SP went from 6p to 8.5p on this news. So if the other 2/3 are added after the workovers that's another 5p to the SP = 13.5p PG= Another 400 BOPD to be added once Chinese pumps are in place= Sp of aprox 14p Neuquen basin is 5.46 Million BOE = +7.5p to the SP. Paraguay has 3 Billion BOE. Move that into Production and then the SP will move. Disclaimer: My calculations are back of a fag packet type job, (but the principals correct).... GLA!

5/8's- Thx for the link, will watch it this evening. Be good to find out more about the planned workovers potential in the (new) Neuquen basin. Also, I hope he mentions Paraguay

You're right of course for 3 big reasons. 1. Louisiana- stable cash flow. 2. Argentina- more wells being brought online, Production to increase exponentially this year & next, and 3) Paraguay. Paraguay is interesting. The Hernandarias Concession is being marketed by Envoi to find a partner for PPC to start a an exploratory campaign there. Might get lucky; who knows? It's Pirity where the likeliest chance of success is. Back in 2014, at Lapacho, where there was 3 Billion BOE unrisked that were discovered, but PPC couldn't get the oil out at the time because it was a bit tricky/they ran out of cash/time (I forget the exact details). But now, I note that it has been announced on the Envoi website that PPC "Plans to spud a low risk well by March 2018" in Lapacho. That means in 2018, PPC will be producing oil in Paraguay. Plus further drilling ther gives PPC lots more opportunities. 3 Billion BOE unrisked already known about. If PPC can work out gow to extract that, then that's a boost to the BS fo'sho'

Peter Levine is not letting the grass grow under his feet, he has today announced a well programme at the very recently acquired Neuquen Basin assets at Puesto Flores and Estancia Vieja. The three well programme comprises three workover wells and two more contingent wells, of these five wells, four were shut in prior to the President deal. These wells will be funded from existing cash reserves and are aimed at bringing back production and to test by-passed intervals which demonstrated evidence of hydrocarbons during original drilling. My guess is that previously Chevron may have cherry picked the bigger and better sands and have unwittingly left potential rich pickings behind. With its existing portfolio and now the acquired acreage, President is likely to have an extraordinarily busy time in the next few months and with so many opportunities to increase production should easily deliver on Peter Levine�s upbeat expectations, accordingly I remain of the view that these shares are extraordinarily good value at 8.175p. He is coming in to Core Finance on Wednesday to explain everything so watch this space�.

Puesto Guardian- Has been omitted because there is no further news at this point. We know the workovers there proved that 1200 BOPD is possible, and the oil is flowing, but that Production is running at a less than optimal level (800 BOPD) and will contiinue to do so until the new Chinese pumps are up & running. We know PPC are working on doing this, and I look fwd to the RNS confirming the pumps are working and PG is producing 1200 BOPD. Hopefully they can sort this soon. Puesto Flores- This is another basin, so the workovers here can happen without any negative impact on PG. Another 3 wells to be brought online by end of 2017 here, possibly even 5 is they all work. Aprox 2400 BOPD being produced at the moment. Another 400 to come online inn Puesto Guardian, and a further 300-400 (guessing here) from Puesto Flores by end of 2018. That's ending the year producing over 3000 BOPD, and I think we would all have been super impressed and taken that result if offered it back in January. Also- all the workovers fully funded so no need for a cash call. Thank goodness. All very good news.

at 13:22 and 13:25 of 672,631 shares a piece. Just short of �54k a pop. That's �108k investment. Someone's feeling confident. "what did you do for lunch?" "had a few drinks at Boisdale, bought �108thousand pounds worth of shares, then picked up a sandwich on the way back to my desk, "really?" "yeah- bacon & cheese- very nice".

Northern/Max, Was watching the cricket on Friday so just catching up on your comments now. Re: Dividend at 5p costing �50M, which at the moment would be too much to return to Investors, there are ways around this. Eg. 1st PPC could do a share consolidation at say 100/1. Then a 5p Div would only cost 500k. Just an idea, and there's probably lots of other ways PPC could do this. But the point though, is to pay a dividend a company needs to be of a certain size, and with a very good stable cash flow. I don't think any company worth 8p a share has paid a dividend. This means that PL is confident in the direction that PPC is going. "Foreseeable" - I would take it to mean next year, or at least confirmed next year with a future X date. Pure speculation on my part, but if it is further away than that, then PL shouldn't mention it yet.

Louisiana- producing at over 300 BOPD - returning profits. Argentina (new) - Puesto Flores and Estancia Vieja Concession, Rio Negro Province producing 1200 BOPD, with workovers in the next 18 months likely to take that to 3000 BOPD. Puesto Guardian workovers- proved 1200 BOPD is possible, but currently only running at 800 BOPD due to mechanical infrastructure issues, that will be resolved when the chinese team deliver the new pumps. June 2016 Production was circa 500 BOPD, now it's 2400 BOPD, by the end of next year it should be about 4500 BOPD. Plus exploration prospects in both Argentina & Paraguay. Plus the comment that made me smile/laugh- "Our clear objectives are.....in the foreseeable future, provide real income returns to our investors by way of dividends." If PPC starts paying dividends, then it will attract significantly more institutional investors, and that should have a significant impact on the SP. Plus I would really like a dividend! Feel like it's deserved after all these years of investing! The questions is then; when will PPC go XD?

In 2016 & 2015, the Half Year results were published on 30th Sept, so probably they will be available tomorrow. However the report will give an overview of as was as at 30th June. Workovers being successfully completed, additional storage space purchased, and the new acquisition have all happened since then, so that update will be a much more interesting read....

Yeah bit longer wait on Paraguay, so should be Argentinian news first. Previous RNS have confirmed that the workovers were successful but also that the wells were producing oil at only a limited capacity because there wasn't any storage space! We've since had an RNS confirming new tanks had been bought. 1200 BOPD by end of Sept was the target, I guess if that's achieved (and it should have been) then an RNS this week or next confirming that will be issued. Also- last year PPC released their half-year interim statement on 30th Sept. So the 2017 HY should be published this week.

Paraguay- it was 12th June when PPC announced that they had appointed the specialist global oil and gas adviser ENVOI to support the prospective farm-outs of its Paraguay interests together with an updated management estimate of Prospective Resources. "President's management estimates that its Paraguayan prospect and lead portfolio identified to date contains a combined mean unrisked Prospective Resources net to President of 3 Billion BOE." It's been 3.5 months since that announcement, so I would think that would be a very quick turnaround if ENVOI had sorted anything out by now, but hopefully it'll come good at some point and who knows about the timescales involved? Also, just reading that again- Paraguay is likely to have "3 Billion BOE". Just imagine what that would do to the SP if it was good and flowed well.....

We are definitely due one RNS giving an update on the workovers. A 2nd RNS then, hmmmm, that could be news of new proposed workovers for the newly acquired Argentinian area, or news about acquiring more acreage in Argentina for a new prospective drilling project, or news of Paraguay drilling start/potential farm-outs. Lots of opportunity here. Roll on seeing this SP fly.....

Been producing oil in Louisiana for years now. About 400 BOPD I think.

I had 12p as the (minimum) correct SP based on the workovers in the Puesto Guardian Concession completing successfully and producing 1200 BOPD. Despite all the RNS's being positive so far, based on past performance I think the Market will only react positively to a successful workover programme in Argentina once the targeted 1200 is live in Production. A bird in the hand & all that that.... (and news due in this week- so we shall see soon....) The acquisition is adding another 1200 BOPD on top of that. Plus the opportunity for a further 1800 BOPD from this new site with some successful workovers (which we know PPC are getting the hang of now). PPC is now looking a very different company to the one that ended 2016. Production in Argentina greater than 2000 BOPD, Louisiana production increased this year with the additional of a new well there as well. More opportunities arising in Argentina and Paraguay, and the macro-economic situation in Argentina going positive. All the ducks lining up..... (and not before time too- haha!) GLA

Two exciting tweets really; 1) potential in Paraguay & 2) E&P Contracts in Mendoza. This could get very interesting....

Been away on holiday so just catching up with last weeks news. Great news about the acquisition and additional 1200 BOPD it provides currently. I note that the RNS says, "Going forward, President, as indicated above, plans to develop and expand production from the Concession to 3,000 bopd through the work program agreed with the Province." Future state then will be 3000 BOPD, plus the 1200 from Pirity that PL should confirm in an RNS this week. That will be 4200 BOPD from Argentina. Total Production across the whole of PPC at the start of 2017 was 400 BOPD. Argentina alone will hopefully produce over 10x that. Plus Louisiana and Paraguay. Good times are a coming....