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oh come on PL..... Too ra loo ra too ra loo rye aye......... If we hit 1200 BOPD from Argentina by end of Sept, then the SP should be double what it is now. All RNS' say that we are on target, use of the word "transformational" workovers are all on track, producing more oil etc etc.... Really really hope we get a good RNS by end of Sept confirming 1200 BOPD is in Production and all targets met. Been disappointed too many times. But still hoping..... This might just be the time.....

Apparently FinnCap Ltd specialize in that, but just because they do doesn't mean that there is a fund raiser coming. All this increased production in Argentina by end of Sept should increases revenues enough that no fund raiser is required. That's my hope anyway.

That's a great summary. I think everything is in place for the SP to rise significantly once the oil is flowing in September. We know the market will only react once this has been confirmed, so gives me some more weeks to buy some more shares 1st.

....maybe we'll be able to afford a Neymar*! Or not. *Other over-priced strikers are available

Re-read the RNS. PG-19, had been shut in for the last 19 years, has been worked over successfully and can produce 50-75 BOPD. Argentinean production is stuck at 600BOPD at the moment, because PPC don't have the pumps available to extract more than that. Including PG-19, I make it that the wells in Argentina can produce aprox 1025 BOPD now. The new 'transformational' pumps are being put in place so that in September, production in Argentina can be ramped up, and with a few workovers left, PPC remain on course to reach their targeted 1,200 BOPD from production in Argentina. That means production will have doubled by the end of next month. The market I think will only react once this production has happened and is stable (a bird in the hand being worth 2 in the bush and all that). They have the wells, the wells have oil, the reserves are proven and extractable in most of them. Now just gotta switch the pumps on. Do that, oil flows, Production doubles and the SP will..... double(?)...... GLA

Good spot Brasso. Also under the pic was the tweet, "First two of five new surface pumps delivered. Sea change in production capability. All working by end Sept." Now "sea change" to me is an interesting choice of words. It suggests that it's transformational (if that's a word). A sea change in production capability then to me, means a big step up. For me a big sea change was watching B'mth get into the Premiership. I used to go there often and watch them play rubbish football against rubbish teams in the lower leagues, and now after a big sea change, Bomo are a Premiership team and we get to see them play against the big boys like, Huddersfield, Brighton, Burnley & Watford. Hope this sea change for PPC can be just as transformational.....

The Bank of Montreal Markets research report (available under Investor Info on the PPC website) goes into a lot of detail about how the NAV is calculated. Their paper from Feb 2017 gives a 11p SP Core NAV and a 12p SP risked Core NAV based on Status Quo in Louisiana (which has since increased Production) and a very conservative estimate on the Argentine workovers. Then they add this, "In addition to the producing/developing assets, we carry 26p on a risked basis in our Total NAV for the exploration assets where there is a reasonable chance of drilling in the near-future, namely MDT, Boqueron and Tapir and an additional 86p/sh in our Total NAV for prospects that require further work before drilling" So... should be 12p basic. That's almost double our money then. Plus 26p if MDT, Boqueron and Tapir go well later this year/next year, plus an additional 86p if something else goes well much later. Seems so simple when you read their report! But having been invested here for a loooong time, I'll believe that when I see it. Fingers still crossed though....

Additional news from PPC's Twitter feed today, "Re news on CGr-20, planning to hook up to flow to battery in about a month. Opens up the field for further production. Step by step" That means the extra 50-80 BOPD from Canada Grande will contribute to the target of 1,200 BOPD from Argentina by the end of the summer. I think anyway- does, "hook up to flow to battery" means the oil is in Production?

Yeah, point taken. Without knowing the full details, logically it would make sense to complete all the workovers in a field before moving onto the next field, and also logically it would make sense to finish all the fields where all the plumbing is in place, before moving onto one where the plumbing needs constructing. Perhaps then not the most optimum time for this piece of work, but the silver lining here is that, it sounds like there in the Canada Grande there is good quality oil with decent flow rates. I'll think of this as a bonus rather than a poorly planning excursion. (Also- I had completely forgotten that the Canada Grande field even existed so in that way it is a bonus).

Navy- Reading the RNS, it sounds to me like the well in Canada Grande will be brought online. "Accordingly, steps are now being taken to hook up this well to the Puesto Guardian field battery as the Canada Grande field is in a remote location having had its infrastructure removed some time ago. The successful test results and steady oil flow has encouraged President to consider other old wells in the Canada Grande field as well as undrilled prospectivity there." Obvs this will take a bit longer to bring online as the field has been closed for six years, but previously PPC were only getting oil from 4 out of 5 of the Puesto Guardian Concession fields. They are now bringing the 5th into play. PPC own the Puesto Guardian Concession, if they can extract oli/gas from all 5 of it's fields that's a good thing.

The RNS is not showing on LSE, but you can read it on President's website; http://www.presidentenergyplc.com/assets/downloads/2017/2017_07_17_Workover_Update.pdf

The spread shown here is not usually true. I can usually dummy buy/sell for over/under bid/ask with Barx. So you could try just get a quote. Or another way of doing it is to put a Limit Order. This is a good way of getting the price you want.

Envoi - looking for Partners for PPC for 50/50 on Paraguay with drilling costs of $10M-$15M per well. And they are going back to Pirity first. Question is, how many prospective partners are there out there? How much $$$ can PPC get, and when they can it all get started? If/when PPC find a strategic partner, I would expect a favourable reaction from the market. Plus a few more positive workovers in Argentina, and there really is only one direction the SP should be going....

Also that potential is now being realised. BOPD has over doubled since the start of the year. There is an additional well now in Louisiana, and the workover programme in Argentina has worked so far, and is continuing so that more wells can be brought into production. Potential- That's the farmouts in Paraguay. SP should be a lot higher really....

Will PPC not issue an RNS to confirm when both wells came onto (come into) Production? I assumed they would, as 2 wells coming online & increasing production is a good news story to get out there. This would also tally with your calculations, as 769 BOPD is roughly what they said was being produced in Argentina without these 2 wells. Agree that this should take it to circa 900 BOPD from Argentina. As the Mgmt said, then they are well on the way to meeting their target of 1,200 BOPD from Argentina by the end of the summer.

Yeah, dilution is not good, but in this case. "Each of the awarded options have a share price performance condition, for each equal one third tranche, of 9.26p (first tranche), 13.89p (second tranche) and 18.06p (third tranche)." If the SP gets to 18.06 I won't begrudge PPC giving their senior employees additional remuneration in shares. 18.06p - that would be lovely.....

the RNS confirmed that 200-300 more BOPD will come into Production by end of June. The SP hasn't really moved. Maybe when the two wells do move into Production- then the SP will tick up a little bit. We invest, we wait.....

In the 2016 Annual Statement released two weeks ago the Chairman's Statement confirmed that, "In 2017, Group production was increased to a level of approximately 1,100 boepd, at that figure a 117% increase on the 2016 full year average." That 1,100 BOPD includes 300 BOPD from Louisiana, so production in Argentina is currently circa 800 BOPD. The RNS yesterday said that 2 well workovers were successful & will bring an extra 100-150 BOPD per well, when they come online at the end of June. That will take production in Argentina to 1000-1100 BOPD. Getting closer to the targeted aim of 1200 BOPD.

Bullfreg- Thanks for your informative posts today. I saw the rise this morning and having a bit of spare cash from profits elsewhere was prepared to take a punt on this without researching it. Your posts made me stop & look at the previous RNS' and based on them I am very pleased that I did not invest in here. Obvs- even dead cat's bounce so maybe some people made profits today, but it's too risky for me.

Rich- Couldn't agree more. Nice to read your optimistic comments. Welcome to the board.