President Energy Share Discussion Threads

[technohead] 20/9/2022 12:51

6360 - Philjeans

Surely we haven't got an inverted Head and Shoulders?
That's what it looks like to me
Who would want to bet on this now performing to the TA?

Head and Shoulders on a very short time-frame - any TA may be short lived too!

[philjeans] 20/9/2022 12:45

The worm that turned.........

Heavy buying.

[officerdigby] 20/9/2022 09:48

These guys..good at drilling .....the share price down down down.Captain. More down plz.Crazy.It stinks unfortunately.

[togglebrush] 20/9/2022 07:37

ATOM will publish its maiden Half Year Report for the six months to 30 June 2022, together with an update on current trading, on Monday 26 September 2022.

[brasso3] 20/9/2022 07:25

10 days until Q4...

[brasso3] 19/9/2022 07:48

I thought those posts on the other thread would wake you up! :)

[crimestoppers1] 18/9/2022 22:56

So is PL saying that there is no oil in Paraguay? so did he lie to his JV partners in Taiwan that there is oil, hence the JV, or is he lying now and then to his shareholders ? or maybe there is a third option of trying to minimize the Paraguay asset value, to enable to divest Paraguay from PPC to hide his corrupt actions he perpetrated in order to acquire the Paraguay assets? which one is it??. Makes no material difference, none of these attempts will work. Corruption does not pay

[crimestoppers1] 18/9/2022 22:52

wow wow Brasso. as matter of fact Riviera is controlled by joseph Goldstein. all contracts signed and sealed and payments thereof are filed in the Paraguay courts as well. No amount of corruption by PL, corrupt ex president cartez and the others and his team will make it go away. No wonder that no serious company is willing to consider it until this is settled . Get used to it brasso, you are on the wrong team (as always). should i buy you a hanky???

[brasso3] 18/9/2022 20:29

Maybe some on here have forgotten who Joseph Goldstein is? As a reminder he posts on one of the other PPC threads. :)

[brasso3] 18/9/2022 20:23

I was waiting for Riveira S.A to crop up.

'Dahava also announces that its controlling shareholder and Chairman, Mr. Joseph Goldstein, acquired 100% of Riviera SA ("Riviera") on 23rd May 2013. This further solidifies the Dahava licenses already in place. This was also confirmed to the Ministerio de Obras Publicas of the Republic of Paraguay, (the ministry which overseas oil and gas contracts in Paraguay) by the president of Riviera, Mr Marc Firmin. Dahava welcomes the team of Riviera on board so as to further advance the project to its successful production'

[crimestoppers1] 18/9/2022 20:14

where is Piperpeter AKA crooked PL?

[ucasavi] 17/9/2022 17:34

hxxps://en.mercopress.com/2022/09/16/drilling-in-search-of-oil-in-paraguay-to-continue

Drilling in search of oil in Paraguay to continue
Friday, September 16th 2022 - 09:37 UTCFull article0 comments

Despite previous comments that there was no commercial oil available in Paraguay's soil, President Energy is to drill its third well in the Chaco region, it was announced Thursday.

“We did not find any commercial oil” in the Chaco region, Atome Energy and former President Energy CEO Peter Levine had said during his participation in the Invest in Paraguay international forum, organized by the Government with the cooperation of the Inter-American Development Bank (IDB).

On that occasion, Atome Energy bought 30 hectares of land in Villeta, adjacent to the ANDE's Buey Rodeo substation, for the installation of its green hydrogen plant, which will require up to 400 MW of power.

“I am an oil and gas engineer. We tried to find oil in Paraguay and people were right, we did not find commercial oil. We are still trying with other campaigns,” Levine said on Sept. 8 after recalling that the first time he went to Paraguay was in 2014.

Frenchman Bernard Verdu, vice-president of Riviera S.A., a company that will drill its first exploration well in Chaco this year, recalled that in 2014 President Energy had announced that more than 1 billion barrels of oil had been located in the Pirity basin, with prospects of resources in those areas amounting to 1,093 million barrels. Verdu underlined that President Energy's shares rose 8.2% on the London Stock Exchange following that announcement.

However, at the end of the two drillings carried out by this company, President Energy published that ”the well confirmed that a very well developed reservoir quality sand is present (high average porosity 20% and 90 meters thick), however, the Carboniferous sandstone (Tupambi formation) was not sealed at this location and the hydrocarbons have migrated in the air.“

Riviera S.A. will start a drilling campaign in the Carandayty Basin before the end of 2022 and during 2023 will produce the first barrels of oil, initially in small quantities, Verdu explained. He added that with an intensive drilling program, that is to say, several exploratory and development wells, plus 3D seismic studies, they will be able to recover their investments and generate profits.

However, Verdu detailed that in the north of La Patria, they plan to drill two wells, very close to the border with Bolivia, called Karina and Emilia Este, there will be 17 km of distance between one and the other. ”Drilling in that area is not very deep for oil, it is at 1500 meters. Further down, at 2500 - 3000 meters there is gas. They are two very different things,“ he said.

According to the calculations they made, they can extract in the next 20 years a minimum of 150 million barrels of oil, and that could be 500 thousand barrels already next year, with two wells. ”Then we must do two or three more wells, in 2024, and with development wells, in five years we can produce between 5,000 and 10,000 barrels/day. And before 10 years, we can reach 20,000 to 30,000 barrels/day,“ he said. But for this, they must invest between US$ 500 million and US$ 800 million. ”But from 2025 we can recover the investment,“ he said. He added that if they extract 150 million barrels of oil, in 20 years, at a price of US$ 100 a barrel, they will obtain US$ 15 billion, with profits of approximately US$ 9 billion, subtracting all investments and taxes.

Paraguayan officials agreed with the Englishman Levine: ”No well to this day is commercially exploitable as far as oil is concerned,” said Carlos Sánchez, director of Hydrocarbons at the Vice Ministry of Mines and Energy of the Ministry of Public Works.

Sánchez mentioned that up to now, all the wells that were drilled (52 in total) gave indications of oil and gas and that only the Cano Martinez well was the one that commercially exploited gas, in Gabino Mendoza. Regarding Riviera S.A., Sánchez insisted that it is in the exploration stage and that the law requires it to drill at least one well, but so far none has been drilled.

[brasso3] 16/9/2022 11:49

Hopefully when we have a new management team here all existing options with the BoD get cancelled.

[brasso3] 16/9/2022 11:48

Argentina to Hike Interest Rates to 75% as Inflation Nears 100%

[bengal1] 15/9/2022 14:33

The entire BOD should be sacked.

[brasso3] 15/9/2022 08:37

15 days until Q4...

They have no shame at PPC. The name change and consolidation is just cover for past (recent) failures.

[chris cat] 15/9/2022 08:34

A new 12 month low and still no promotion of our alleged achievements, increased production and cash generation. Quite extraordinary......but we would like permission to issue new shares, incredible!!

[crimestoppers1] 14/9/2022 18:46

where is Piperpeter AKA crooked PL?

[brasso3] 14/9/2022 11:44

PP did not post the Argentine production figures for June or July.

It might be a bit too soon for the August figures.

[chris cat] 14/9/2022 11:42

PP has been radio silent for a bit. Still no production numbers and August's will be available soon

[chris cat] 14/9/2022 11:41

Brasso, It would be comical if I hadn't spent 13 years watching my money disappear before my eyes.
Sent my votes back yesterday, voted in favour of 2 of the motions but voted against allowing them to allot shares, I know it won't make a difference but given past performance on dilution they really shouldn't be allowed to issue any more.

[brasso3] 14/9/2022 11:19

The historical thread titles are comical on reflection:-

2019 - PBB 2019 Delivering Sustainable Value Growth In South America
2014 - PPC - Drilling for 1.1bn barrels of oil in 2014
2009 - President Petroleum Company : Let the transformation begin

[chris cat] 14/9/2022 11:07

Good point Super Y...

We will soon be able to have our annual "will next year be the year that PPC finally comes good" conversation, along with a load of reasons why it should be...new wells on stream, cash generative already, new exploration fully funded.

I sense more dejavue on the way

[super y] 14/9/2022 07:42

102 days to Christmas........

[brasso3] 14/9/2022 07:26

16 days until Q4...