PPC.L Regulatory News (PPC)

24 October 2018

President Energy plc

("President" or the "Company")

Issue of Equity

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets, announces that it has issued and allotted 901,936 new ordinary shares of 1 penny each in the Company ("Ordinary Shares") to an employee of the Company pursuant to an historical deferred salary accrual. Application has been made for the new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 29 October 2018. 

The new Ordinary Shares will rank pari passu with the existing shares of the Company. Following the exercise of options, the Company's issued share capital consists of 1,072,840,262 Ordinary Shares. Accordingly, the figure of 1,072,840,262 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

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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 announcement contains inside information for the purposes of article 7 of Regulation 596/2014.