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37 to 30 is quite a defeat. Macri back on the ropes now re pricing bill. Sellers are picking this apart today. Wouldn't like to be selling outside size today.

Not surprised to see this fall today. It has been a long line of sellers since Tuesday morning. I'm upset to be on the sidelines now but will look to re enter if the dust settles in Argentina or on any seriously positive news.

is no one on here willing to accept that something has changed? If PL was re running the 2017 placing pitch do you still think he would be saying "right place right time". It was made a central plank of the investment case. I have done very well holding this stock having bought in last summer but I am brave enough to accept something has changed and from my not insignificant experience of Argentina I am nervous that these things generally get worse before they get better. Micro thing are stacked in their favour and clearly, even if lagged in Arg, oil prices support that but 'nothing to see here gov move along' approach is not one I freely accept

The only significant points are 2 and 4. I am frustrated by the events as lots of things were looking in place for PPC. Whatever you think about possible upside from the great deal they did in PF/EV, the potential in Paraguay, the repair of the Chinese pumps, another deal in Arg, unsettled legal dispute or uplift in Medanito, you have to recognise that this is now a different investment proposition to the one it was in Feb/Mar 18.

There are a few things that PPC holders need to happen for an uplift and maintenance of value and one of them is Macri and/or his politics remaining front and central for the forseeable.

Anecdotal evidence on the economic/political position from contacts in Argentina is not positive. One key point of PL's business case for PPC was a return to stability in Arg following the demise of Cristina. Takes some thinking to evaluate how it impacts PPC but macro position of its main market undeniably weakened.

Constant drip drip sells all week then two massive shapes sold on Friday. A lot of selling pressure

I don't disagree with you. Just strange not a mention of it here or on twitter. In fairness to IC they tipped it at 6 or 7p in April last year

A lot of talk about Angelos Damaskos but by way of balance the Investors Chronicle moved PPC to a SELL rating in last week's edition.

Neither Paraguay or PG seem front and centre at the moment. PG I see the logic of better returns to be had at PF but going quiet on Paraguay worries me. Barely mentioned in recent interviews, announcements or presentations.

the original question makes a good point

There is now a huge trust issue and erosion of credibility. Investors big or small have every right to feel perplexed with how things have gone wrong so quickly and so starkly. Look at the business model and try to think about what is unique or special to warrant the previous very dizzy valuations of �180m. For a company in this sector servicing very tough retailers the price is only starting to approach fair value in my opinion

should remind us all that the free float on PPC is quite tight

The price paid for oil in Arg has been one of my bug bears on PPC as well as work over success or lack of it at PG (have they actually updated us yet on the Chinese pumps!?) Medanito is going to lag oil price rises elsewhere I am afraid albeit PL acknowledged what $60.08 in his last update which is an improvement on $55. I never like to see related party transactions on listed companies even if it was as small deal in Louisiana. Having said all of that I remain long in size and have been since the summer. Progress in acquisition strategy and something in Paraguay will see this sail way beyond the house broker's target of 19p

Very interesting Santa Cruz, Argentina announcement from Echo Energy today. Argentina is certainly heating up. There must be a number of deals around for PL to look at

At last the confident expectation of a significant uplift in out put prices in Arg. I will take $60.80 any day. Analysts will be out with sharper pencils this morning. Workover update is also superb. Going higher today for sure

DRichi this is explained in the first para beneath PL comment. States for the reasons explained proceeds do not tally with daily production

Yes but what price are they getting for the oil. Until Oct is was $55 medanito. Now, I have heard $58 but needs to be higher

There is confirmation for you.

So $3 per barrel more * 2400 bopd.....this is what PL is referring to translated from La Nacion (Arg):- The market, as the document signed by Aranguren states, tells the oil companies that they have to increase prices. The Medanito oil, typical of the Neuqu�n basin and the one that performs the most in local refineries, was negotiated for this month at US $ 55 a barrel. For the next month, as confirmed to LA NACION by the person in charge of buying crude oil in a major oil company, that number will not fall below US $ 58. That price will also be faced ultimately by consumers.