PPC.L Regulatory News (PPC)

28 July 2022

PRESIDENT ENERGY PLC

("President" or the "Company")

TRADING AND CORPORATE UPDATE

President Energy (AIM: PPC), the international energy company provides an update on trading and corporate matters.

Argentina

The three new wells at the Puesto Guardian Concession, Salta Province, Argentina are all on stream and each producing in the range of 125-185 barrels of oil per day. In addition, intervention work is being made on older wells at the Concession to enhance production.

Trading overall in Argentina remains operationally profitable with President generating good free cash flow and exporting oil to the extent possible and appropriate. Domestic oil prices continue to increase with oil prices being in our core Neuquen Basin area presently some $67 per barrel and progressively increasing step by step. The price invoiced by the Company for the export cargo sold in July was US$105.8 per barrel.

Being a US Dollar based business insulates President to a material degree from the high inflation unfortunately suffered in Argentina at present and careful management of Peso balances is being exercised to mitigate exposure.

Louisiana

To maintain and enhance production in Louisiana a gas lift system is currently being installed and implemented with wells expected to be fully operational again in August.

Non-Executive Director

Notwithstanding the above, Trafigura continues as a significant shareholder in President and the parties continue to enjoy a strong and mutually beneficial trading relationship

Peter Levine, Chairman, commented:

"We would like to place on record our thanks to Martin for his services and professionalism towards President throughout his tenure. Our colleagues in Buenos Aires continue unabated to work closely with Martin and Trafigura in Argentina on a day-to-day basis for which we remain grateful.

"Operations continue to progress in Salta and the levels of realized prices achieved when we export is particularly pleasing."

Contact:

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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