President Energy Share Discussion Threads

[brasso3] 02/9/2022 13:24

15 months ago:-

RNS Number : 0942B

President Energy PLC

08 June 2021

8 June 2021

PRESIDENT ENERGY PLC

("President" or the "Company")

Paraguay farm-out signed

Drilling projected to commence in H1 2022

President Energy (AIM: PPC), the energy company with a diverse portfolio of production and exploration assets focused primarily in South America, announces the signing of the agreement for the farm-out of its Pirity Concession, Paraguay ("Pirity").

Highlights

-- Agreement signed with a substantial Northern Hemisphere state-owned energy company ("the Farminee"), to farm in for a 50% participating interest in the Pirity Concession, Paraguay

-- In return, the Farminee will pay 60% of the costs of an exploration well currently scheduled to commence during H1 2022 and will also pay President US$4m in consideration of the Company agreeing to enter into its performance obligations under the Agreement

-- Agreement subject only to regulatory approval and prolongation of the licence for a defined period

-- The exploration well will target the Delray complex of prospects, estimated by the Company to contain in aggregate over 260 MMbo of Pmean Unrisked Resources

-- Costs of the well are estimated at between US$10-15 million with an estimated chance of success of 30%

-- President will continue as the operator of Pirity

[brasso3] 02/9/2022 07:51

29 days until Q4...

[brasso3] 01/9/2022 07:45

It is easy for MMs to manipulate an AIM share that has poor operational performance, share price performance and communication.

The question as to why this is happening maybe we will never know.

[bengal1] 01/9/2022 07:40

Very strange market for PPC yesterday. Couldn't buy any all day, but MMs happy to take sells. Interesting that the seller did not unload more so probably now finished? Then at 16:25pm the price ticked up and you could buy 500k. A clear attempt to prevent buying and keep the price down. This looks like market manipulation to me, but why?

[brasso3] 01/9/2022 06:51

30 days until Q4...

[bengal1] 31/8/2022 15:38

Been like it after the 500k (x3) buys.

[bengal1] 31/8/2022 15:37

Nothing through iweb

[chris cat] 31/8/2022 15:36

You're right, I just tried to buy £500 worth with HL and it wouldn't quote.

[bengal1] 31/8/2022 15:32

Can't get to buy any at mo. Strange?

[brasso3] 31/8/2022 13:40

Oil is starting to look weak so we could be in the $60 - $70/ barrel range soon. PPC need to focus on debt reduction as most major economies enter recession.

[chris cat] 31/8/2022 10:00

The share price drop doesn't suggest that they are buys Bengal, unless it was you that was buying?

[bengal1] 31/8/2022 09:55

Not all sells.

[brasso3] 31/8/2022 09:54

A series of 500k trades just gone through. Mostly sells I imagine.

500k at 1.3025
500k at 1.311
500k at 1.31
500k at 1.3475
500k at 1.348
500k at 1.3155
500k at 1.334
500k at 1.3375

[brasso3] 31/8/2022 09:11

He has been making $2m - $2.5m a year in wages and IYA interest so with his current £10m stake in PPC and £10m in Atom he is not exactly hurting like the rest of us.

[chris cat] 31/8/2022 09:00

Hard to see how PL ever gets his money back to be honest, however he will recoup the equivalent in interest and salary over the past/next few years. All whilst turning $150m or so into c$30m. As I have said before, fair play to him for putting up the cash when he did, however I suspect the alternative at the time was that the company went under and he lost his initial Equity investment. In truth he stands to lose far more than the rest of us, but he has also been at the helm.

[brasso3] 31/8/2022 08:21

Should soon be above $2m per annum in IYAs pocket! If only we could all get these kind of returns on investments!

[chris cat] 31/8/2022 08:13

Thanks Brasso, pretty sobering stuff. My guess is that the bond holders might have some restrictions on what debt can be repaid, if that's the case then it will suit IYA

[brasso3] 31/8/2022 06:48

It is not clear what amounts we have at each rate but lets assume we have fully utilized the $4m at 10.5%.

$4m at 14.05% = $0.56m
$7m at 16.05% = $1.12m

Total interest payments are $1.7m per year. The US is targeting another 0.75% increase in rates next month so Libor likely to go up also.

[brasso3] 31/8/2022 06:38

The US 6 month Libor rate is now at 3.55%. Our borrowing costs on the IYA loan are now at 14.05% - 16.05%!

Extract from the 2021 annual report:-

IYA loan facility

The Company has made use of an unsecured revolving loan facility made available by IYA Global Limited, a subsidiary of PLLG Investments Limited which is beneficially owned by the Company’s Executive Chairman and its largest shareholder, Peter Levine. This facility is subordinated to the Company’s external bank facility.

The total amount committed under the IYA loan facility is US$20.5 million with US$16.5 million at a 10.5% interest rate and additional borrowings of US$4.0 million at 12.5% plus 6-month Libor in line with previous bank borrowing. The facility is repayable in December 2024.

[brasso3] 30/8/2022 08:59

31 days until Q4...

[chris cat] 25/8/2022 20:33

Maybe that big buy is from a member of the BOD, lol

[bengal1] 25/8/2022 19:28

Strong support for Taiwan at every visit

“Thanks to Deputy Secretary Wells for sharing an enjoyable and productive conversation. We are committed to working closely in the economic, commercial and investment areas for the benefit of our common ally”, José Han, ambassador of the Republic of China, Taiwan in Paraguay, tweeted yesterday, after meeting with Mark Wells, deputy assistant secretary of State. of the United States Department of State.

The strong support of the Joe Biden government for Taiwan, the island that China considers part of its territory and for whose unification it does not renounce the use of force, is also expressed with deferences such as these in which a high-ranking official from Washington on his visit to Paraguay includes a conversation with the Taiwanese ambassador. The same thing happened on August 6 last. A delegation of US congressmen visiting Asunción, in addition to meeting with Paraguayan authorities, did so with Han.

[crimestoppers1] 25/8/2022 18:08

GAME CHANGING NEWS!! THE US WILL FREEZE THE ASSETS OF CORRUPT PARAGAUY ACTORS...IS PL WORRIED?

hxxps://www.ultimahora.com/los-eeuu-advierten-bloqueo-activos-los-corruptos-n3019752.html