Member Info for DRichi

It would be good to get a proper Paraguay update, hopefully they can make a start in Q4. That just might help the SP wake up.....

Rebranding, a new name these thing can sometimes really help. 1992 and the Premier League anyone? Opal fruits to Starburst? Maybe a fresh start is exactly what is needed here........

I'll keep invested here due to stubbornness, and an unwillingness to sell at such a loss. Fingers crossed for a big strike in Paraguay to turn it all around. 17% chance IIRC. This feels more like playing roulette then investing, but fingers crossed, it might work......

Scandalous rates really. But at least it should all be repaid by dec 24....

Also, not that it makes much difference, the LIBOR has now been replaced by SONIA, so that should be the base rate the loan tracks

The announcement on 25th July said pretty much that President had failed to achieve Shareholder value and is going to try a complete change of direction to help improve things by;

1. Peter Levine, is stepping down as CEO, before the end of Q1 2023. He will step back from his current broader role in the Group to focus on developing the Green House.
2. Within the next few months, the Group will rebrand and change it's name from President Energy to something else.
3. Also there will be a share consolidation to move away from the penny/micro share image

If the same consolidation is 100/1 then maybe I will get to see the new rebranded PPC shares trading at £1+. I had always hoped PPC shares would one day be worth £1+ but this alas was not the way that I (or my bank manager) had hoped for it to happen. Still after all these years of failures, PPC does have a decent core business, and perhaps with a fresh start, fresh management, a change of name and a change of luck it could turn out alright. I would say I wouldn't bet on it, except that I already have .... d'oh! D'oh! D'oh!

Agreed Northern- let's keep our fingers crossed, maybe this SP can turn around and surprise us.....

Thanks Seawolf, I hadn't head of that site before but it does make for some interesting reading. Interesting upside as well as downside. Fair Value = 16p a share. Sixteen pence a share! Now wouldn't that be luuverly

https://simplywall.st/stocks/gb/energy/aim-ppc/president-energy-shares#management

PPC will be publishing the production figures from Argentina quarterly. They will know how many barrels of oil they produced in Q2 by COB today. I think it would be good practice to publish these figures on the 1st Business Day of the next Quarter. I.e. Tomorrow.

What are the chances of PPC being that efficient & professional?

600+ BOPD for the new Salta wells, should take PPC to over 3000 BOEPD now. Also, with Louisiana back up and running PPC will have some of it's production getting full price. This means core operations have stabilized and picked up a bit and PPC should now be generating a significant amount of cash each month.

Would be good to see the debt paid down. I seem to remember a few years back the aim was to be debt free by about now. Obviously COVID and etc etc has delayed that, but if PPC can start making inroads in to paying off it's debt I think the market would react favourably.

Also, PPC has interest in ATOM which if it does move in to Production in H1 2023 would be a great asset. Plus our gamblers shot in Paraguay, hopefully in the 2nd half of this year. At the moment that 17% chance looks like LTH's best hope of getting out with a profit....

There's an interesting article in the FT from a few days ago- link posted by Steven49 in a different thread that argues that because of the current Russia/Ukraine situation that Argentina will/should/could have a step change in their oil & gas policies, and open up the Vaca Muerta gas fields and loosen controls on oil production/exportation/prices. The FT's argument was that if that can be done companies operating in Argentina are sitting on a cash cow.

Hoping that the Argentine Gov will change it's policies is a pretty big 'IF' to be fair, but a cash cow would be better than a dead cow

Don't forget June! Month of strawberries & cream at Wimbledon, mud & music at Glastonbury, and if FIFA wasn't so corrupt it would also be the start of the World Cup in one of Australia/Japan/US. Anyway.....hopefully in June PPC can give us an RNS confirming the 4 wells in Salta that were coming online in May are now up and running and tell us the flow rates. An update on Paraguay would also be nice, no news there makes me worry the dates are drifting. Hopefully some good news to come....

@Brasso- I had done my calcs before I had eaten my weetabix and had used 1 billion shares in issue instead of two billion. D'oh! That's a few years behind the times. I remember being mad when it got to 1 billions shares, and now it's 2 billion+

Had breakfast and coffee now so my head's a bit clearer. My SP calculations were an overestimation (double) but the sentiment remains. This is a really strong RNS. It's great the Argentine production figures will be released Quarterly. It's fantastic how much cash Argentina is generating. The market cap is way too low at the moment. Q2 production figures will be better than Q1 with the four new wells coming online. It feels like PPC have turned a corner now. This could be the start of a long climb back up to a respectable SP.....

Ten years ago when PPC was running at a loss in had a marketcap of $66M (IIRC). Now it's made a $4.5M profit in Argentina in Q1 and forecasting $40M for the year, plus Louisiana plus whatever their 28% stake in ATOM is valued at. Market cap should be at least $100M I reckon which = 8p a share. So hey even a $50M market cap would male the SP 4p (which is a very low valuation by most multiples of EBITDA)

Onwards & upwards from here (hopefully....)

Argentine production figures to be released Quarterly!!!!! Wow!!!! Brilliant! Not having publishing these figures has been a bugbear of this chatroom for years now. That's great news that PPC will finally be doing this

Even better than three, it's four new wells that should all be online by end of May. Salta DP2001 & DP2003 and Puesto Guardian PG13-1 and PE-8.

What a lovely share to be in. This really is just the very beginning. I'm going to hold (and add when possible) for the next three years. I really hope this share could be a game changer. Well, you gotta dream.....

Really good RNS from Atome today. Maybe President could borrow their Press Officer for PPC's next RNS?

From the Atome RNS, "The objectives and actions of ATOME are totally aligned with Paraguay's commitments on decarbonisation which ATOME fully supports in the mission to make Paraguay one of the world leaders in diversification from hydrocarbon reliant economies and protect the environment for future generations."

Meanwhile President's hope of a similar SP take-off seem to lie in finding commercial oil in Paraguay. Almost like PPC and ATOM are the angel & the devil stood on the shoulders of Paraguay trying to take it in different directions. 1st round- ATOM.....

NicetoMichu- President have already issued RNS confirming all four wells are commercial and will be fully online in May. Even if all four flows rates are disappointing, it's still four new wells adding to Production. As far as PPC goes, this does count as as a success story!!

Four new wells should come online fully this month. Salta DP2001/2003 - both of these were targeting 250BOPD. PG13-1 is oil, and PE-8 was a workover which should bring both oil and gas into production.

So that's four new wells producing oil in Argentina. Looking forward to a confirmation RNS telling us these four wells are working well, and please can it also tell us the Production numbers. If this is such a good news story, then c'mon PPC shout about it

Steven- you're not wrong, but as investors in PPC we have to take every opportunity to be positive...... (as there is generally not enough blue days)