PPC.L Regulatory News (PPC)

29 October 2018

PRESIDENT ENERGY PLC

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

Q3 2018 unaudited Group Management Reporting Highlights

Significant progress continues

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, provides highlights from the unaudited Group management reports for Q3 2018 and a comparison with the second quarter of this year.

Highlights

· Turnover increased by 21% over Q2 2018 to US$13.1m (Q2 2018 - US$10.8m)

· Adjusted EBITDA* increased by 101% over Q2 2018 to US$5.7m (Q2 2018 - US$2.8m) and continues to run at approximately US$2m per month with total for the first three quarters now approaching US$12m

· Group operational profit after administration expenses and workovers but before depreciation increased by 82% over Q2 to US$4.6m (Q2 2018 - US$2.5m)

· Group free cash generation from core operations before G&A increased by 59% over Q2 2018 to US$6.8m (Q2 2018 - US$4.3m)

· Group well operating costs per barrel reduced by 20% over Q2 2018 to US$27.18 (Q2 2018 - US$33.93)

The Group is pleased to report that its internal unaudited management accounts for Q3 2018 show further significant financial improvement. The Group has demonstrated positive progress across all key performance indicators when compared with Q2.

Furthermore these healthy results demonstrate that the Company has not been materially adversely affected by the recent macro economic turbulence in Argentina, which turbulence has at the present time shown some indications of stabilising.

The Company is on a strong upward trajectory. The last quarter of this year should benefit from the current three well drilling campaign in Puesto Flores which is targeted to add an initial 600bopd to field production, equivalent to an increase of some 30% on existing levels from that field. The Company is also expecting to complete the acquisition of two new fields in Rio Negro in Argentina by the beginning of December which should give incremental production of the Group from January 2019 as well as providing a valuable strategic pipeline for offtake of the Company's gas.

Peter Levine, Chairman and Chief Executive commented:

"The last quarters management reported results are a further demonstration of President's growing trading and financial position and prospects."

"We are now focused on the challenge of further improving on these as we progress through the final quarter of 2018."

*Adjusted EBITDA calculated on the same basis as shown in the Interim Accounts to 30 June 2018

Contact:

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) 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