Member Info for DRichi

This Atome is looking promising. Long way to go yet of course, but good to get a progress update. Hope the mgmt keep doing this, and keep the markets onside

Up from 53p (a few days ago) to 70p now, that's a significant move. I wonder what the reason is. Maybe an RNS in the not too distant future.....?

In other good news, Atome bounced off 53p a few days ago and is now back up to 63p. If only President could go up by 10p in a week......

The thing is, Brasso's posts aren't wrong, they are generally pretty accurate and insightful, and it's good to read them. @Brasso- please do keep posting, I do appreciate the effort you make here communicating views etc. Just oftentimes your posts can be a bit glass half empty, so on a day with good news, let's try see things a bit more glass half full. Having said that, my glass is now about half empty, so I best make another trip the fridge and top up my 1664 before I run dry...

We've known PPC for a while now, we are familiar with their business operating model of over promising and under delivering. It's good to have balanced debate and discuss the good and the bad, (and the ugly) but really there's enough dark days for complaining and too few days with good news, so I agree with Comeonvog's sentiments here, today we have good news, let's focus on that, bad news can wait till tomorrow. For 'tis St David's Day, so let's take a moment and smell the flowers, admire their brilliant yellows, and then as it's Shrove Tuesday as well, let's have pancakes with bacon and maple syrup and get fat like our bank balances will be riding high of these successful investments!!!!!! Cheers all! ;-)

250 BOPD confirmed from DP2001. Well DP 2003 is "clearly commercial" rates still TBC, but potentially another 250BOPD there.

PG 13-1 at the Puesto Guardian field is starting this weeks,will a timeline of 21 days after that so hopefully we can have that confirmed w/c 21st March. Fingers crossed for success there. As it's a side track from an existing well location, you would think that it should be a success, but nothing is guaranteed of course.

And now we have Daniel Musri to run Argentina, so that Jordan Coleman can manage Paraguay. Hopefully these are two good moves and Argentine production can increase and stabilize and the Paraguay campaign can strike it lucky.

"The company is pleased to announce...." nice to see! Hopefully from now on, more of President's RNS' will start this way.... :-)

At these prices it's cheap as chips, so I've gone in for a little top up at 1.5110p. I think that's the cheapest I've bought President shares, but still I must be mad!!! It's important to have a few beers on a Friday lunch of course (I'm not a savage), but I probably shouldn't invest my savings after a pub lunch. Oh well, in for a penny.....

Oil is over $100 a barrel due t o Russia's meddling in Ukraine. When the oil price crashed because of COVID the PPC share price crashed too, when the price of oil rises the PPC share price still goes down.

@Northern agree with you, sometimes it can be very hard indeed to feel optimistic about this investment

$100 a barrel makes the Louisiana production more important for PPC's bottom line. From Argentina, maybe PPC can export more?

We should get updates on the Salta wells soon. Confirmation that the new wells drilled are online in production and telling us the flow rates would be a good start...

Oil companies have made so much money that there is going to be $38Bn of share buybacks and $50Bn of dividends paid. Oil is expected to go north of $100 a barrel. Huge numbers, huge profits and the article isn't even including the money made by President in these totals!

Makes President's SP movement look even less impressive.

https://www.ft.com/content/2852b800-4a03-4cf6-a47f-65c306a22657

330p! Ooof, if president could pull off the same trick that would definitely change my life. 33p would be enough to have a major impact too, but hell, I'd take 3.3p if we could get that now.....

Success in Salta & Triche back online in Louisiana would be a good start, then it seems like we will be playing at the Paraguay casino hoping for a big win....

Yeah, I just checked the 1H 2021 figures, and that was avg 1695 barrels of oil per day + 953 barrels of gas = 2648 BOEPD.

Once we know the flow rates we can add the two new Salta wells to that (250 BOPD each?), and then there's also the Triche well in Louisiana which when/if it comes back online will help.

That's 3000 barrels of oil per day right? That would easily be the most PPC have ever produced (by a long way) so would be pretty good. Plus 2000 barrels of gas daily. If PPC could confirm this (if PPC can do this) then that would be great progress and would surely (hopefully) give this SP a kick up to a higher trading range

The price of oil is now nearly $90, in 2020 it dropped to $10 so of course 2021's earnings will be a lot higher. What I would like to know is how many barrels of oil each well has produced, and what's the total amount.

IIRC President published a roadmap of their future production figures a few years ago, and it looked something like:
2018- 2000 BOPD
2019- 4000 BOPD
2020- 5000 BOPD
2021- 7000 BOPD
2022- 8000+ BOPD

If these guys worked for me, their performance reviews would be an uncomfortable time for them and they definitely wouldn't get any bonuses. But whilst they have my money, I'll keep hoping they can turn it around. Successful drilling in Salta & getting Triche online again could maybe take production up to 3000 BOPD. That would be a good start....

President have confirmed that they will provide brief preliminary and unaudited highlights to the market in late February., so that should give us what we need to know.

Also, if EBITDA for 1H 2021 was $4.5M, then we know 2021 will be a great YoY improvement vs 2020 $2M. Although, 2020 was an annus horribilis so that's probably not the best benchmark to use

Trading non producing exploration areas that PPC haven't done anything with since acquisition for a drill in a producing area that adds another 250 BOPD or so to production seems sensible to me. Oil production is about 2000 BOPD now, if after a 4 well programme in Salta oil prod can rise to 3000 BOPD then the SP should go to 3p+

A criticism of PPC has been that they do not issue enough RNS, and often we have to guess what the status of something is. On the flip side, if they issue an RNS before they can include full details it's called drip feeding. We all want the to succeed, reading through the RNS this is what I take for Argentina:

It was initially scheduled as a 3 well drilling programme.
DP-2001- was a success, and will be online next week with flow rates expected to be either 250 or 350+ BOPD. Actual flow rates to be confirmed once flow is stable. This is very good news (just not new news as we already knew this)

DP-2003 - need to conduct flow rate tests. Depending on these results the 3rd well DP-2002 might be drilled from the same well pad.

Then, then Company is cautiously optimistic that the Puesto Guardian field well will be the fourth well sequence to this drilling campaign and not the third.

So initially there was to be three shots, PPC scored with the 1st, might have scored with the 2nd shot, and are lining up to take the 3rd and a possible 4th as well. You could argue that much is still unknown, there's not been much progress, or much concrete success, or you could take the view that it's been good so far, and could all work. I know what I hope for, my expectations however are less than that. But hey ho, we've paid our money, let's roll the dice and see....

It is good news, and hopefully PPC will be producing 4000+ BOEPD soon, good there is cost savings, and higher prices received. I think (hope) the market will react to this once the actual figures are given rather than us having to piece together bits and bobs from here and there and do back of the fag packet calculations.

Actually is "back of a fag packet..." still an expression? Kids these days don't smoke, and are used to having actual calculators on their phones. Perhaps they would just say 'rough estimate' which describes it well enough and doesn't discriminate against non-smokers!

I think this was a pretty good set of news, with the exception of Louisiana, which hopefully will be brought back online later.

Good to note that President expect to provide brief preliminary and unaudited highlights to the market in late February, and that the these will show an improved year on year financial performance.

The new oil treatment plant designed, engineered, constructed and completed in Rio Negro is now delivering material savings of opex of over US$4 per barrel, which is great news as I hadn't read confirmation of the savings before.

President continued to export its oil from Argentina and the prices currently being obtained for the Company's oil in Salta have reached levels not previously seen by President. Be good to see details, numbers of amount of oil exported and prices received. But that PPC are exported and getting the best ever prices that they have, is definitely good news.