Brasso3
18 Sep 2017
Re: In the next 2 weeks.... I think they are getting $54/ barrel for the rest of the year but the Argentinian government gets a 15% cut of that. So they are getting more like $46 after royalties. The net backs are still around $40/ barrel at 500 BOPD. Argentina should be very profitable if they can hit that 1200 BOPD target.
theprior
17 Sep 2017
Re: In the next 2 weeks.... Hi, Brasso. Nice reminder, thanks. Not sure when their guaranteed fixed price deal ends ? That gives them a bit more than $53 doesn't it ?TP
Brasso3
17 Sep 2017
In the next 2 weeks.... The last communication from PPC was 2nd August so we have not had any update or indication of what has happened since that date. There is a potential 10 wells that were planned to come on-stream in September to achieve an additional 600 BOPD:-- 4 new producing wells,- 3 wells, which are currently working at sub-optimal capacity,- 3 well stimulation campaign,If the above come off as planned and hit that 1200 BOPD target from Argentina that will significantly impact PPCs revenues:-1200 x $50 x 365 = $21.9m.We should not forget the USA production also which is running at 300 BOPD:-300 x $50 x 365 = $5.5m.Hopefully this will take PPC back into double figures (the thoughts of a long term suffering share holder)
Ohtaxes
03 Sep 2017
Still here after fekk kin years Presidents twitter feed a bit more active, here's a link posted by them a few hours ago;[link] here years and will have to stay some more years, No real uplift until we get partners and the financial show significant cash flow gains Regards allOht
theprior
01 Sep 2017
Re: Further ops update Oh dear, another clever Richard.Nope, I'm just enthusiastic about the company and its prospects.You should read more, then you would be able to select a sharper knife from the box.TP
commercia
31 Aug 2017
Re: Further ops update are you their broker? must be
theprior
02 Aug 2017
Further ops update The news, and the oil, just keeps flowing. Workovers progressing well and actively considering acquisitions in Argy.Peter Levine and his crew are finally getting it together at President.Looking good for the future.It's a steal at these levels.TP
theprior
17 Jul 2017
Ops update Good news on the workovers.TP
theprior
06 Jul 2017
Re: Ops update/oilman At last people seem to be taking notice !Sp steadily rising, some chunky buys, just what we need.Now in the blue myself and looking forward to hitting 10p soon.Solid company with good prospects, sound backing, and including possible reentry into Paraguay via a farmout deal.What's not to like here ?TP
theprior
05 Jul 2017
Ops update Excellent news on Argy sales.
theprior
29 Jun 2017
Re: Looking for... Joined here for Paraguay a few years ago, then it all went wrong and since then they've been going the long way round to get where they are now. (Inc workover problems in Argy)However, they are now moving forward with the workovers, increasing revenue and profitability. Farmout of Paraguay would be the icing on the cake. And they're looking at further acquisitions of production assets.Have a look at Malcy's interview with PL on TipTv......[link] luck, TP
poor_teacher
12 Jun 2017
Looking for... A farmout partner in Paraguay.50% for a couple of drills estimated at 24 million. Looking to drill prospects in 2018. Drilling Paraguay acreage in that timeframe also allows PPC to the further 40% interest. That deal if it came about looks reasonable to me. If you hit oil on the drills it would look great lol.Any thoughts anyone?
lipsey
06 Jun 2017
Copy/paste from the news President EnergyAs always historic results are just that, and in President Energy's (PPC) case 2016 was a year to forget with the DP-1002 S/T well being fouled up by the service companies and leading to an impairment charge of $10.9 million (£8.5 million) although the company is still pursuing claims against them.Production last year was 506 barrels per day but is already at 1,100 barrels per day heading fast towards the September target of 1,200 barrels per day which it should cruise through.2P reserves in Puesto Guardian are up 10% at 19.9 million barrels of oil equivalent which bodes well for President's future. Cash of $17.6 million, net being $8.5 million, leaves the company in a strong financial position when added to significantly increased cash flow and admin costs down 30%.Paraguay will, as expected, be put up for farm-out, the US acreage does the necessary whilst the Aussie stuff has been relinquished.Overall, PPC is looking very interesting; it has a low geological risk portfolio in a hugely recovering economy in Argentina and with plenty of potential targets into the bargain.Peter Levine is determined to get PPC back to its former glories which, in case you had forgotten, is just short of 50p. Who would bet against it happening?
poor_teacher
02 Jun 2017
Results Good to get a clear figure on current production rates in the year end results. IMO Ppc seem to be in a stronger position than they have been for a while. However they still seem to be a way off from being a stable going concern. How long before the next cash call?? 12 months-18 months?Unless they start to move on the acquisition front as they suggest.I'm in anyway and hope the market starts to like Ppc in the not too distant future.
Nice to Michu
16 May 2017
Re: RNS dispute update It remains more undervalued again now Malcay !!Small ouch but still a Hold for me.. and I'd do a small top in 5'sp, if it were to go there..
