President Energy Share Discussion Threads

[bengal1] 28/7/2022 15:17

Another tick up imminent.. Little stock available now.

[officerdigby] 28/7/2022 11:35

We will get the actual production and numbers in 2 weeks time with the regulatory Argentinian update.Why not make that and this the same RNS?.A further example along with no idea about how much production is occuring...is how much is sold at local and how much at international prices.Just writing the appropriate as possible amounts.... Is just rubbish!..

[driller81] 28/7/2022 11:10

Brasso, I dont think its as simple as just moving money from Argentina to UK to cover loan, Argentina has capital control restrictions in place presently.

On the local financing, cheap money becomes cheaper with devaluations so makes sense to take this, develop and wait for controls to be relaxed.

[rizzzla] 28/7/2022 11:04

I like ATOM bengal the resident whinge bags sold so you dont get the
constant whining you get here

[bengal1] 28/7/2022 09:12

ATOM moving nicely.

[brasso3] 28/7/2022 09:03

Rizzzla

So they have dropped 40% in a few months? I think you are deluded!

These wells will take a very long time to pay back now. It would have been better to just pay off the IYA loan instead of spending $12m - $15m on this 3 well drilling programme!

[officerdigby] 28/7/2022 09:02

Ok so what does 125-185 actually mean?Could be 125+125+185 = 435Or maybe 125+185+185 = 495.It's just blase CBA writing.

[rizzzla] 28/7/2022 08:59

You know full well the Puesto wells have a initial higher production before they settle down to long term rates

muppet

[brasso3] 28/7/2022 08:57

So they are 40% below what would have been considered the 'success case' last year!

[brasso3] 28/7/2022 08:55

Quite a way below expections then! No wonder they were keeping quiet. They are only announcing this now as they will be forced to release Argentina figures next month due to the bond committments.

'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.'

22nd Sept 2021 RNS:-

'Each well is estimated to cost US$3.5 million and have a drilling time of 45 days with a mean success case initial projected oil production of 40 m(3) /d (250 bopd).'

[bengal1] 28/7/2022 08:08

ATOM pressing upwards now (some good relief for PPC)

[bengal1] 28/7/2022 07:55

We will get the actual production and numbers in 2 weeks time with the regulatory Argentinian update.

[investorwil] 28/7/2022 07:32

It looks like PL is going to promote ppc again because he wants something, just like when atome was announced.

[all in eol] 28/7/2022 07:07

Non-Executive Director

Martin Urdapilleta, Non-Executive Director, retired at the Annual General Meeting of the Company held on 22 July 2022 in accordance with Article 110 of the Company's Articles of Association. Owing to increased business commitments within South America for Trafigura, Martin was unable to offer himself for re-election and accordingly has ceased to be a Director of the Company.

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

[bengal1] 28/7/2022 07:05

Getting much better $ return

[all in eol] 28/7/2022 07:03

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.

[value viper] 28/7/2022 05:44

Exactly - another example of the numerous updates the company has simply not given.Now this new plan is announced out of nowhere - the market again is understandably pensive. There is so much to ingest to try and get head around.PL has to take full responsibility for all of it past and present.I agree and hope the institutional investors have leant on him to back off.If 'Barbara' did not .....

[brasso3] 27/7/2022 15:21

Has Mr Musri had enough time (5 months) yet to review the status of the Argentine operations?

1st March 2022 RNS:-

Management update

The Company is pleased to announce that it has recruited Daniel Musri, an Argentine national, to the position of CEO of President Argentina. Whilst it is a non-main board position, Daniel has overall responsibility for President's operations in that country. Daniel, who joins us from Vista Oil and Gas, the Mexico/Argentina public oil and gas company, is a reservoir engineer by training and, prior to Vista, worked for 10 years as Vice President for Schlumberger in their Production Management arm, and before that for 18 years at the large Argentine oil and gas company Perez Companc, rising from junior reservoir engineer to asset manager. Daniel has been tasked with reviewing all operations within President's Argentinian business with a view to improving the returns from these operations and ensuring targets that are set are met with the appropriate accountability for results.

[chopsy] 27/7/2022 13:28

I agree, let the consolidation happen, let the share price settle again, see where the new ventures could perform, then look for an appropriate entry.

[vwap21] 27/7/2022 10:02

i was very excited about having another look at this and suspected a trade could be fruitful gien the drop back to this level but it quickly dawns on you it is all a bit confusing. What even is the strategy, where is the focus and what is the event horizon that could propell the stock. The recent soundcloud interview is a WTF moment. I really don't see how Atom has added much value for shareholders let alone the use of the word multiple. The share price isn't where it should be so let's have a consolidation is quite a view to take and should be seen for what it is. It's hard to form a calculated view as it appears to me just all up in the air and without a plan or vision. Might return to look again towards the end of the year.

[chris cat] 27/7/2022 09:32

And down we go. So energy sapping

[brasso3] 27/7/2022 09:30

We never really got a comprehensive update on the 3 well drilling programme in Argentina. We know from several sources/ RNS that the combine production of the 3 wells is around 600 BOPD.

The programme was supposed to be complete in January 2022 and cost around $10.5m. We heard in early 2022 that the total cost was $11m. The drilling/ optimising of wells went on for around 6 months beyond the original timeline so it is not clear what this cost in the end and why the additional 2 wells were abandoned.

The above delayed drilling etc is not the problem apparently its the number of shares in issue and that we trade as a penny share!!!

[brasso3] 27/7/2022 09:26

13th July 2021

At Puesto Guardian, Salta Province, Argentina, the first of the three new firm oil wells is currently expected to be spudded on time in the first half of October with the second and third wells to be drilled back to back through Q4 2021

22nd September 2021

The Company has signed a drilling services contract for three firm wells to be drilled at the Puesto Guardian Concession before the end of this year. The contract also includes an option to retain the rig into the New Year for a further two wells after drilling of the third firm well.

12th October 2021

The Company anticipates that drilling of the first well of three firm, two contingent well program will commence towards the end of October 2021 with two wells projected to be drilled by the end of the year and the third to be completed in January 2022.