6 Dec 2018 07:00
6 December 2018
President Energy plc
("President" or the "Company")
Appointment of Joint Broker
President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets, is pleased to announce the appointment of Panmure Gordon & Co as its Joint Broker.
Peter Levine, Chairman and Chief Executive of President Energy, commented:
"The ambition of Panmure Gordon mirrors that which President has shown in its expeditious growth in production and cash generation this year. We look forward to working with their new team and our other advisers as we progress into 2019, with the next 12 months set to extend the significant progress delivered this year."
For further information please contact:
President Energy PLC Peter Levine, Chairman, Chief Executive Rob Shepherd, Group FD |
+44 (0) 207 016 7950
|
finnCap (Nominated Advisor & Joint Broker) Christopher Raggett, Scott Mathieson
|
+44 (0) 207 220 0500 |
BMO Capital Markets (Joint Broker) Jeremy Low, Tom Rider
|
+44 (0) 207 236 1010
|
Panmure Gordon (Joint Broker) Charles Lesser, Dominic Morley
|
+44 (0) 207 886 2500
|
Camarco Financial PR Billy Clegg, Jane Glover, Violet Wilson |
+44 (0) 203 757 4980 |
Notes to Editors
President Energy is an oil and gas company listed on the AIM market of the London Stock Exchange (PPC.L) primarily focused in Argentina, with a diverse portfolio of operated onshore producing and exploration assets. The Company currently has independently assessed 1P reserves in excess of 15 MMboe,2P reserves of more than 27 MMboe, and production approaching 3000 boe/d.
The Company has operated interests in the Puesto Flores and Estancia Vieja Concession, Rio Negro Province, in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. The Company remains focused on growing production in the near term in Argentina. Alongside this, President Energy has cash generative production assets in Louisiana, USA and further significant exploration and development opportunities through its acreage in Paraguay and Argentina.
President is actively pursuing value accretive acquisitions of high-quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support (including the IFC, part of the World Bank) and an in-country management team, President Energy gives UK investors rare access to the Argentinian growth story combined with world class standards of corporate governance, environmental and social responsibility.
This announcement contains inside information for the purposes of article 7 of Regulation 596/2014