President Energy Share Discussion Threads

[crimestoppers1] 13/9/2022 21:17

Brasso ,no action . wondering? maybe something is up??

[brasso3] 13/9/2022 07:24

17 days until Q4...

28th June 2022 RNS:-

In Paraguay, work continues in preparation for spudding later this year. Our partner is fully compliant with its obligations and the main focus is not only agreeing with service segment providers costs and timing which is ongoing but finalising agreement with the rig contractor, who is undergoing an internal reorganisation. Whilst this is out of our hands as to timing, we are assured that we will be able to move forward with them in a concrete manner within the next three months which would still be in line with targeting commencement of drilling in the latter part of this year.

[crimestoppers1] 12/9/2022 18:00

I highly doubt that PPC will have a vestige of any capability to raise funds for Paraguay prior to the removal of the the corruption allegations

[chris cat] 12/9/2022 11:29

Riz, It would be good to get more positive thoughts/evidence. PP is usually positive and posts constructive information. The points that raises seem achievable, but they just never work out that way and whilst Brasso and I don't agree with him (as the share price over 14 years tells it's own story) at least his posts give us some crumbs of comfort of the potential that PPC could have.

[rizzzla] 12/9/2022 11:23

It's a pointless effort to put across anything to a guy who sold all his Atome shares
at 70p and spent the proceeds here at 1.8p and then slags the company off several times a day.

[brasso3] 12/9/2022 09:55

Rizzzla

When was the last time you made a constructive contribution to the BB?

[rizzzla] 12/9/2022 09:51

I wont miss the never ending whining

[brasso3] 12/9/2022 08:39

Chris

I suspect that the drilling costs for Paraguay have risen significantly from the original $10m - $15m forecast over a year ago. Rig/ drilling costs usually rise in line with the oil price as demand for them increases. Therefore I would expect the drilling costs to be more in the region of $15m - $20m now. Back in 2014 the Jx-1 and Lx-1 combined drilling costs were about $50m.

The US wells have only been online for around 3 - 4 months during 2022 so I doubt they have generated any profits.

I expect the recent $4m bond issue was to cover any gap in the Paraguay well funding. I would assume that PPC need to fund $5m - $10m for this well now as their contribution.

[chris cat] 12/9/2022 08:27

Brasso, I know we are all suspicious about Paraguay not happening this year year, but do you think it's possible that it's all linked to the share consolidation and that the once consolidation we will dilute......to raise funds for the Paraguay drill?
Initially we were supposed to drill it in Q1 22, so should have had the cash at that point in time but clearly we didn't given the Arg wells delays and subsequent underperformance, then bonds etc.

[brasso3] 12/9/2022 08:20

The Argentine inflation benefits PPC if we are only concerned about our operational costs. It is obviously very grim for the people who live there and stability within the country. History tells us that these levels of inflation usually end up with strong moves to the left/ right of the political spectrum.

[super y] 12/9/2022 08:16

Thanks Brasso for the Argentinian rate of inflation. Looks like it is a few percentage points above UK and worrying for them both.

[brasso3] 12/9/2022 06:49

ucasavi

I suspect they already know where the next round of dilution is coming from that is why they are reducing the share base to such a low level (eg 10m shares in issue). It will only take a few years for this lot to get it back to the 50m shares area with a few placings.

[crimestoppers1] 11/9/2022 21:58

where is Piperpeter AKA crooked PL?

[crimestoppers1] 11/9/2022 21:57

no name change will solve the corruption issues facing PPC and PL in Paraguay. it will only accelerate it as a decoy to hide the real issue. more documents to be released ....stay tuned......

[ucasavi] 11/9/2022 21:37

Doing a share consolidation while there is a large and distressed seller who seems to be happy to sell at any price would be a crime against existing shareholders.

1p->£2->£1.5->£1->80p->40p->20p and back to the molecular level.

If they cannot do a share buyback to avoid bringing PL's holding back to 30%. Then just sit it out.

And the 50% of dilution allowance should come with a condition: at a price not lower than £10.

Not that they ever give a damn about existing shareholder. It is much more exciting to find new ones for £1 (half of the nominal price).

[theo hook1] 11/9/2022 06:50

chris - we share your pain !

[brasso3] 09/9/2022 07:27

21 days until Q4...

[chris cat] 08/9/2022 15:28

I believe this is karma for me turning ever so slightly optimistic a few weeks ago when we climbed to 1.4p.
I promised myself I'd never buy more PPC or any other AIM stock ever again a year or so ago...I did both and all of my aim shares are now underwater. Some might come back, some might not but there are too many snake oil salesmen in senior positions who specialise in getting enough money out of "the market" to keep themselves in clover for a few years at a time. I did well with PL on IEC, but have since given back almost every penny on PPC and a few others. The anticipation of the those 7am RNS's that could rocket a share up are simply not worth the aggro.
PS despite PPC's abysmal performance I do not consider PL a snake oil salesman. I believe that he has tried incredibly hard and backed it with his own cash, but it looks like his faith and judgement were just wrong.

[lr2] 08/9/2022 14:35

Perhaps the Argentine government have arrested him for stealing state secrets.

[brasso3] 08/9/2022 14:16

I guess production is looking miserable for June and July a Piperpeter did not post the figures from the Argentine government website.

[barony] 08/9/2022 14:09

Just when you think this can’t go any lower......

[lr2] 08/9/2022 13:48

Got a few Pikes and Mannerings on this board also.

[brasso3] 08/9/2022 13:47

New all time lows!

Congratulations to the BoD.

[super y] 08/9/2022 12:02

Brasso if they ever bring back Dad's Army you could easily do the Private Fraser part!!