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PPC President Energy Plc

155.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
President Energy Plc LSE:PPC London Ordinary Share GB00BMT80K89 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 155.00 150.00 160.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

President Energy Share Discussion Threads

Showing 37951 to 37973 of 38950 messages
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DateSubjectAuthorDiscuss
27/6/2022
17:28
We do not know what the total production levels are at present.

The Jan - May figures are pretty flat despite recent RNS suggesting two of the new wells are online.

brasso3
27/6/2022
17:20
Brasso327 Jun '22 - 18:17 - 5670 of 5670

Before we worry about that we need to read that there is extra current production from the latest wells. Correct me if I’m wrong but we are still awaiting numbers?

all in eol
27/6/2022
17:17
AiE

I would not bet on the well spudding before November/ December 2022 at best.

The concerning point is where has all the profits from current production gone?

brasso3
27/6/2022
17:13
Brasso327 Jun '22 - 18:11 - 5668 of 5668(premium)

Well if that’s the case then hopefully we can look forward to a near term spud rather than a further delay!

all in eol
27/6/2022
17:11
AiE

It must be to fund Paraguay. I doubt the Taiwan national oil company would commit more funds unless they knew PPC could cover their end of the drill (40% WI).

brasso3
27/6/2022
17:00
Looking forward to both picking through the accounts and also reading the current trading.
What are they using the latest mini bond for? I rather hope it’s to help pay off the PLG loan.

all in eol
27/6/2022
16:45
I wonder if we've exported any more oil since the Company last advised of a large tranche of oil going for export back in March, at or near international prices?

Pp.

piperpeter
27/6/2022
16:24
Surely must be due an update on well DP-2003.

Pp.

piperpeter
27/6/2022
16:07
We could certainly do with an update on current trading.

Pp.

piperpeter
27/6/2022
15:09
96 days to spudding the Tapir 1 exploration well in Paraguay?

Pp.

piperpeter
27/6/2022
14:30
Wayne, I wonder where Dr. Richard Hubbard went next, after stepping down at PPC?

Wasn't he appointed President somewhere?

Coincidence?

Pp.

piperpeter
27/6/2022
14:23
I wouldn't like to guess!
bengal1
27/6/2022
14:11
If the Jx-1 and Lx-1 campaign was such a success why were the CEO and COO given the boot?

15th Jan 2015 RNS:-

John Hamilton (CEO) and Dr. Richard Hubbard (COO), both based out of London, have offered to step down from the Board as of today. They will remain senior advisors to the Company and will continue to be valuable resources to the growth of President. As a result, Peter Levine will become Executive Chairman and Chief Executive while Miles Biggins (Commercial Director) will assume the role of Chief Operating Officer, with Ben Wilkinson continuing as Finance Director.

brasso3
27/6/2022
13:50
So President Energy has gone from a 64% interest in Pirity, at the time of the successful drilling of two wells in 2014, with 64% of costs, through a period of 100% interest in a drill dormant period in the Concession, to now a 50% interest in the Concession, except that on the first well they will only have to find 40% of the costs of the first well.

And they receive US$4 million from the new partner CPC Corporation of Taiwan, who have very deep pockets.

Pp.

piperpeter
27/6/2022
13:30
6 October 2015...

Acquisition of remaining 36% of Pirity Concession, Paraguay.

"On completion of the acquisition, President will operate and own 100% of the Pirity Concession".

Pp.

piperpeter
27/6/2022
13:26
4th March 2015 RNS:-

Fundraising

Firm Placing of 29,668,627 new Ordinary Shares and Proposed Placing of 43,139,023 new Ordinary Shares at 12.50p per share together with 1 Warrant for every 1 new Ordinary Share subscribed for

President Energy (AIM: PPC), the oil and gas exploration and production company announces a proposed Placing of GBP9.1 million (approximately US$14.0 million), comprising a Firm Placing of 29,668,627 new Ordinary Shares and a Proposed Placing of a further 43,139,023 new Ordinary Shares, in each case at 12.50 pence per share and with 1 Warrant being issued for every 1 new Ordinary Share. The Placing was priced according to the closing market price on 3 March 2015, being the last trading day before this Announcement. The Warrants will have an exercise price of 18.75 pence per share and a 3 year exercise period.

brasso3
27/6/2022
13:22
20 October 2014...

"The immediate action proposed to our partner in the well is to proceed after Lapacho to deepen the Jx-1 Jacaranda well to encounter the same Icla Sand liquid bearing pay zones as just discovered at Lapacho below current TD at Jacaranda. The re-entry of the well, the costs of which can be met out of the Companies existing cash facilities, would mean that the Tapir prospect, which is drill ready, would be addressed at a later date".

It looks to me like PPC (64% interest) had the cash to deepen Jacaranda, but the partner (36% interest) at the time did not.

Does anyone actually properly read the Company RNS's?

Pp.

piperpeter
27/6/2022
13:07
6 October 2015...

"As the Company announced in 2014, the Jacaranda and Lapacho wells both identified potentially significant hydrocarbon accumulations. The two wells are currently suspended pending possible re-entry and flow testing".

Pp.

piperpeter
27/6/2022
12:54
Did the partner in the well, who held the other 36% of the Concession at the time have the cash to cover their share?

Pp.

piperpeter
27/6/2022
12:51
I should also point out that at the time of drilling the Jacaranda well and the Lapacho discovery well, PPC had 64% interest in the Pirity Concession.

President Energy had the cash to deepen the Jacaranda well at the time.

Pp.

piperpeter
27/6/2022
12:44
It would be incorrect to state the Jacaranda well was unsuccessful as it was not revisited, as was the intension, to deepen it.

"250 meters of liquid hydrocarbon saturation now identified in the shales in Jacaranda".

"Re-entry of Jacaranda now being proposed".

Pp.

piperpeter
27/6/2022
12:30
The Jx-1 and Lx-1 wells in 2014 cost PPC $50m and there was no production from them so they were unsuccessful and nearly bankrupt the company.

The tiny farm in for half of the asset would suggest that this is still high risk exploration and not development drilling as you seem to indicate. The face that they are not going back to Jx-1 or Lx-1 tells its own story.

brasso3
27/6/2022
12:23
So, taking your logic, Wayne, you believe the drills were unsuccessful and so then also must believe there is nothing there.

Which would mean, using your logic, they gave 50% of nothing away for around $10 million.

Pp.

piperpeter
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