Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPPC.L Regulatory News (PPC)

  • There is currently no data for PPC

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Drilling update at Puesto Flores field, Argentina

26 Oct 2018 07:00

RNS Number : 2418F
President Energy PLC
26 October 2018
 

26 October 2018

 

PRESIDENT ENERGY PLC

("President", "the Company" or "the Group")

 

Drilling update at Puesto Flores field, Rio Negro Province, Argentina

 

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, confirms that the PFE 1001 development well has now spudded at the Puesto Flores/Estancia Vieja Concession in Rio Negro Province, Argentina (President 90% and operator - EDHIPSA 10%).

 

This is the second well in the three well programme and is expected to take some 21 days to drill to target depth. Subject to success, the well will then be completed which is projected to take a further 10 days.

 

Completion work on the successful PFO 1001 is expected to take place and put on stream by the end of the drilling of PFE 1001.

 

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 0573

BMO Capital Markets (Joint Broker)

Jeremy Low, Tom Rider

 

 

 +44 (0) 207 236 1010

 

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 and 2P reserves of more than 27 MMboe.

 

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 is 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 Group) 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 information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DRLMABFTMBMTBTP
Date   Source Headline
26th Jul 20067:01 amRNSAppointment of Nomad
24th Jul 20067:00 amRNSNative Title Agreement
20th Jul 20064:44 pmRNSGrant of share options
19th Jul 20067:00 amRNSCalvin Deep Acquisition
28th Jun 20067:01 amRNSPreliminary Results
20th Jun 20067:00 amRNSActivity Update
9th Jun 20067:00 amRNSOperational update
26th May 20067:01 amRNSCoal bed methane prospect
22nd May 20064:43 pmRNSExercise of Options
15th May 20067:00 amRNSDelores Prospect
27th Apr 20067:02 amRNSActivity Update
24th Apr 20065:57 pmRNSExercise of Warrants
4th Apr 20067:01 amRNSVictory 1-21 Drilling Update
13th Mar 20062:00 pmRNSActivity Update
20th Feb 20064:16 pmRNSPlacing
14th Feb 20063:16 pmRNSOrion Lease Signed
7th Feb 20066:01 pmRNSHolding(s) in Company
7th Feb 20066:00 pmRNSHolding(s) in Company
3rd Feb 200610:32 amRNSCalvin Drilling Update
1st Feb 20063:59 pmRNSHolding(s) in Company
31st Jan 20062:33 pmRNSHolding(s) in Company
30th Jan 20062:00 pmRNSHolding(s) in Company
25th Jan 20065:36 pmRNSHolding(s) in Company
24th Jan 20067:00 amRNSCalvin Well Commercial
17th Nov 20053:51 pmRNSActivity Update
25th Oct 200511:21 amRNSHolding(s) in Company
11th Oct 20051:20 pmRNSActivity Update
30th Sep 20055:53 pmRNSInterim Results
22nd Sep 20052:14 pmRNSHurricane Rita
1st Sep 20057:00 amRNSHurricane Katrina
18th Aug 200510:59 amRNSHolding in Company
12th Aug 20057:00 amRNSPlacing
29th Jul 20057:00 amRNSOperational Update
16th Jun 20052:46 pmRNSActivity Update
19th May 20052:07 pmRNSDiscovery on Milford 36
11th May 20057:01 amRNSFinal Results
9th May 20059:00 amRNSSpudding of Well
5th Apr 20058:59 amRNSAppointment of Adviser
4th Feb 20053:09 pmRNSManagement Appointment
4th Jan 20052:43 pmRNSHolding in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.