Member Info for DRichi

Ticked up to 7p - good that it's moving the right way. Just looking at the quant side of things and broker ratings. Canaccord Genuity has PPC as a Speculative Buy with a target price of 12p. Peel Hunt Limited has PPC as a Buy with a target price of 17p. (Both price Reiteration announced last year though). Support level 1 is 6p, and support level 2 is also 6p according to BarCap's analysis. So 6p definitely looks like the floor. Resistance 1 is 8p and Resistance 2 is 14p. Hopefully, we'll have some good news soon, and a few more buys and then if all goes well we can look at reaching (& breaking) those resistance levels. Pretty big IF though. Still, we might do it......

Brasso- Agree with the points you make. 2017 is going well so far. Workover success = 1/1. With a good wind hopefully the rest can come through, and we can see a tick up on the SP with each successful workover. I might add a few more shares in April with the new ISA year. Still, hoping this comes good. It's taking a chance I know, but for what it's worth, Production won't drop so the SP shouldn't decrease. Therefore, although I'm not convinced that all the workovers will be a success, and even less sure about Paraguay success next year, as there's little downside, this is close to being a risk free investment at these prices. (Although I did think that when the SP was in the 20p's) Hey ho....

1P are proven reserves with 90% probability of being recovered 2P are proven plus probable reserves with 50% probability of being recovered The odds are in our favour. Fingers crossed. A positive RNS, and an unexpected one too. Reserves significantly better than expected. Let's hope that the Market takes note of this, and the SP increases too.....

Bottom line is that what a Oil & Gas company is worth, is based primarily on how many bopd it produces, plus maybe sometimes a bit extra on the SP for possible future increases. Based on PPC's past inability to deliver on promises (pointed out by Brasso, below) the SP for PPC is currently based on what it is actually delivering only, and any future predictions are discounted to 'manage expectations'. Shares sold today number 221k which = aprox £13k. Any significant leaked news and you would see a much higher volume of sells/buys. Hopefully we'll hear something by end of the month though. And hopefully it's good news.....

Worth a read is the BMO Capital Investment report from a few weeks ago, that focuses on Argentina and gives a target SP of 12p a share which BMO states is less than the core NAV, and also that 12p SP is assuming that not all of the workovers are successful. http://www.presidentenergyplc.com/assets/downloads/2017_02_09_BMO_PPC.pdf Longer term, once (if) Argentina workovers increase the BOPD significantly, PPC will be a making enough profit from Argentina to give us 'free shots' in new basins.

Production in Louisiana (from memory) is stable at about 200-250bopd. SP increases are based on the targeted increases in Argentina if the current workover programme is successful. Paraguay is a different game. There's no confirmed oil & gas there at the moment, so currently nothing is reflected in the SP for the assets PPC hold there. From the 2016 half year report: · The Group remains committed to its Paraguay exploration assets and will revisit plans in H1 2017 after the current Argentine work programme · The Group has received environmental license on the Putamayo Block, adjacent to President's Pirity Concession and has made an application for prospection, exploration and exploitation of that area · Geological and Geophysical studies continue · Taking into account market conditions and pending results of the current Argentine work programme, consideration of possible farm-outs deferred So then..... Paraguay, could strike the biggest untapped oil reverse ever and make everyone rich, or could find nothing extractable and be worth next to nothing, or farm-outs could add a few pence to the SP..... I have my fingers crossed for somewhere 12-18p from Argentina, and then Paraguay, who knows, you pays your money you take your chances.....

"Further to the Company's announcement on 11 January 2017, President is pleased to announce that the work-over rig has been mobilised to the first well location, and that operations have already commenced...... The Company maintains its target of 1,200 bopd production from Argentina by end summer 2017 and is fully funded for its well workover programme." A low key RNS, but good to know that the workover programme is underway and on-schedule and is still targeting 1,200 BOPD. That means that in approximately six months time the amount of oil that PPC will be producing on a daily basis will have doubled. Fingers crossed the workovers all work.......

Yeah, fingers crossed for a year of workovers actually working, and no more share dilution. Feb- workovers of two producing wells which are presently under maintenance & one currently abandoned well. March- Workovers include a frac programme on at least three of the old shut-in wells. Target of 1,200 bopd production. I wonder what the calculations are for that target. Presumably for each well workover there is x % chance of success, and then on top of that the oil could flow a little, a decent amount or a lot. Starts in Feb, hopefully we'll get some good news by Easter. Good luck all....

Looking back at the past statements regarding production in Argentina: June 2015- Production was 231 BOPD June 2016- Production was 500 BOPD, with a target to increase production to 1000 BOPD. New target in 1,200 BOPD by end of Summer 2017. IF that can be done that is a very significant increase. Looking ah the company as a whole, Louisiana produces 200 BOPD. Current production = 500+200= 700 BOPD and SP = 7p. If Argentina can produce 1200 BOPD per day by end of the summer then Production will be 1200+200 = 1400 BOPD. Double the amount of oil as today. So the SP will go back to 14p. Simples right?

First operations will commence in February with workovers of two producing wells which are presently under maintenance, together with the creation of a new water injector in a currently abandoned well. Workovers on old shut-in wells are due to commence during March 2017. The workovers include a frac programme on at least three of the old shut-in wells. The Company reaffirms its target of 1,200 bopd production from Argentina by end summer 2017, as originally announced at the time of the November placing.

Always nice to see. :-)

HNY! Maybe this is the year that PPC goes big. But then again, maybe not. I guess our luck has to change one day hey....?!? Good luck all......

just doubled their holding to 130M shares. Whist their market strategy involves a (relatively) high amount of Risk, it's still nice to see one of the big boys investing heavily in this share.

That's the press speculation that PPC had confirmed in their RNS the other day, saying that this price fall had already been factored in. More shares, no significant increase in production (ATM) and a lower price of oil in Argentina. Not the greatest month of news for us shareholders. Maybe 2017 will be PPC's year....... ^^

Brasso- Agree with your sentiments here. I 1st bought into PPC in 2008, and lost money on Pel82 in Aus, and the following non-game changing drills. 600k shares though! Wow! That's a lot. I've got 240k, and when PL was offering himself options 18 months ago at £1.20 a share (or whatever the price was), that got me thinking that PPC could set me up very very nicely. 12p to breakeven for me too. Can't predict the future, but would love to see PPC become the leading E&P Oil Company in Latin America. Maybe that will happen one day, but pretty sure I won't be selling these shares for at least the next 6 months..... On the bright side. There is oil in Argentina, and the PPC team must know by now all the things NOT to do on a workover. Also, lovely saying (because it's ALWAYS) true; look on the bright side, "things could be worse"! It's true- we could've invested in GKP!!!!!

Issued at 6p a share. Jeez, If this had been done a couple of months earlier, they could have issued half as many new shares at 12p. Not good news. An extra $20M in the bank though. Approximately US$10.0 million will be used to fund the Group's initial 10 well workover programme of shut in wells in Argentina in order to increase Group production; and approximately US$10.0 million will be used to strengthen the Group's balance sheet, provide critical mass and enable the pursuit of additional internal and inorganic growth opportunities. So $10M on the workovers, and an extra $10M just in case. These workovers better deliver. Can't afford any more mistakes.

Cheers. On one level I understand the SP dropping as the workover failed, but on the other hand the SP shouldn't have dropped because the only reason it failed was a technical one. The oil is still down there, PPC will get the rig back, this workover once completed successfully will increase BOPD, plus this is workover #1 of 5. Definitely a good time to buy IMO as one successful workover should take the SP back to say 14p, then depending on the further increases to BOPD from workovers 2-5, the SP should increase proportionality again. For me though, not selling any shares for at least 12 months. Increased BOPD in Argentina will see SP rise, but I'm holding for Paraguay. Holding & hoping they strike it lucky there....

CJ- There's not been a lot to say recently! We need the rig back and the 5 well workover programme to be a success. Then it should be back up to 13-14p at a minimum (price it was before the 1st well hit a snag). Still have my full holding. Would love to buy more at these prices because sure the SP will double with decent reworkings, but used up this years ISA allowance, and my other holdings are out of the money atm so no spare cash. Frustrating really.

Prices rises are primarily linked to increases in increases in bopd that is now being put into Production in Louisiana & Argentina. Also PL has been positioning the company into a strong position to take maximum advantage of any strike in Paraguay next year. Also more generally the price of oil is going up, and the new Argentinian President is pro-business & creating a better environment so that trade there is easier. The drop back a few weeks back was because one of the four well workovers in Argentina hit a snag. But we'll get the rig back soon and have another go so should rise back up again. Like phoenix from the ashes.... (Used to love that with Baddiel & Skinner on the FF show- happy days!)

@Brasso- Thx for the reminder/clarification. -Easy to forget the success stories with the focus being on the one that didn't work out. @Bays- Keep singing!!! We'll have to have some good songs when this share takes off one day...... ;-)