PPC.L Regulatory News (PPC)

10 July 2013

PRESIDENT ENERGY PLC

("President Energy" or "the Company")

OPERATIONAL UPDATE

President (AIM: PPC),  the oil and gas exploration and production company focused on Paraguay with producing assets in Argentina and Louisiana, today provides an update on its operations.

Operations continue to go extremely well across the portfolio.

·; In Paraguay the seismic acquisition operation has been successfully completed one month ahead of schedule (780 square kilometres of 3D seismic and 100 kilometres of 2D seismic). Initial results appear most encouraging, already showing very prospective drilling targets. 

·; The Louisiana assets are currently producing approximately 300 boepd, a record level of production that is generating circa $600,000 per month of net operating cash flow after US tax.

·; In Argentina the first stimulated well continues to perform with good levels of production and work on the clean up on the next two stimulated wells is on-going. We look forward to updating the market on the flow rates of each of the remaining two wells in due course.

Commenting on today's announcement, Peter Levine, Chairman said:

"Operations across the portfolio are progressing ahead of schedule and showing positive results. In particular, the initial results of the seismic survey in Paraguay are extremely promising, showing exciting prospective drilling targets.

"Whilst it is impossible to ignore the share price, this is not reflective of operational matters and is diametrically opposed to the company's progress and prospects."

For further information contact:

President Energy PLC

John Hamilton, CEO +44 (0) 207 016 7950

Ben Wilkinson, Finance Director +44 (0) 207 016 7950

RBC Capital Markets

Jeremy Low, Matthew Coakes, Daniel Conti +44 (0) 207 653 4000

Jefferies Hoare Govett

Simon Hardy, Max Jones +44 (0) 207 029 8316

Pelham Bell Pottinger +44 (0) 207 861 3232

Mark Antelme, Henry Lerwill