11 Aug 2022 07:00
11 August 2022
PRESIDENT ENERGY PLC
("President" or the "Company")
HSE Update on Puesto Flores Facility, Rio Negro
President Energy (AIM: PPC), the international energy company provides an HSE update on its assets in Puesto Flores Concession, Rio Negro Province, Argentina
At 10:25 a.m. on 10 August 2022, President's battery in its Puesto Flores facility, Rio Negro experienced a fire breakout, limited to the area containing the separator units, which was controlled and extinguished immediately. Full HSE protocols were activated, and there were no injuries to personnel. Despite minor damage, the tank and storage areas were not affected. President immediately launched an investigation to identify the causes of the incident with the intention to restart the plant without delay.
Peter Levine, Chairman, commented:
"We would like to greatly commend the efficiency with which our staff implemented the Company's HSE policy and training to contain and extinguish the fire without the slightest delay. No injuries were suffered and there were no material oil losses. Oil production capability from the wells is totally unaffected."
Contact:
President Energy PLC Nikita Levine, Investor Relations | +44 (0) 207 016 7950 info@presidentpc.com |
finnCap (Nominated Advisor and broker) Christopher Raggett, Tim Harper
| +44 (0) 207 220 0500
|
Tavistock (Financial PR and IR) Simon Hudson, Rebecca Hislaire, Charles Baister | +44 (0) 20 7920 3150 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). The person who arranged for the release of this announcement on behalf of the Company was Peter Levine, Chairman.
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 has operated interests in the Puesto Flores, Estancia Vieja, Puesto Prado and Las Bases Concessions, and Angostura exploration contract, all of which are situated in the Río Negro Province in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW 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.
It has also a 27.9% investment interest in Atome Energy PLC a green hydrogen and ammonia producer whose shares are traded on AIM of the London Stock Exchange.
With a strong strategic and institutional base of support, including the international commodity trader and logistics company Trafigura, an in-country management team as well as the Chairman whose interests as the largest shareholder are aligned to those of its shareholders, President Energy gives UK investors access to an energy growth story combined with world class standards of corporate governance, environmental and social responsibility.
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