President Energy Share Discussion Threads

[rizzzla] 27/9/2022 13:56

Good luck with the consolidation brasso

I think your ramping didn’t help much

[brasso3] 27/9/2022 13:44

Which magic money tree will be financing these new companies?

[piperpeter] 27/9/2022 13:36

Looking forward to a full, comprehensive update on the state of play regarding the new division Green House Capital and specifically how many different businesses will initially be created, including in which countries these businesses will operate, and whether they will be separately listed with "free" shares being distributed to PPC (or what will soon be MEN) shareholders, as occurred with ATOM nine months ago.

Pp.

[brasso3] 27/9/2022 13:06

With all of the additional news today we now know the current state of play and its clear why the share price has been under pressure all year.

- Production has been poor (<2000 BOEPD) despite revenues compensated by the high oil price.
- CAPEX has been over budget.
- The fire at PF will hurt the FY year figures.
- US wells off line during a period of high oil prices.
- Total debt has crept up to $34m.
- Argentina price controls.
- Change of management in progress.

Surely it cannot get much worse now? Is this the capitulation low?

[shabs2] 27/9/2022 12:58

Big loss today! Will wait and see what happens after the consolidation. Wishing for a recovery.

[oilinvestoral] 27/9/2022 11:52

Sorry to see PPC turning out this way for shareholders. Some of you wil remember me as I used to be a regular poster here. I sold out on the spike in Q1 last year so didn't get any Atome shares (which I was disappointed about). Since ATOM was listed PPC seems to have fallen off a cliff with one issue after another. Only getting paid 60 odd per bbl when most other shares were receiving over 100/bbl sums up Argentina. Argentina is not a great place to invest right now. Hopefully the exploration well in Paraguay comes in and allows shareholders here to recoup lossesGood luck all ...

[chris cat] 27/9/2022 11:50

Despite averaging down several times over 14 years, my ISA tells me I am 67.65% down on my PPC "investment". That does not account for my first ever purchase at 30p in a different account. The same funds invested in almost any generic tracker would likely be up 100%+. Only me to blame I guess, I made the decision, I backed it with my cash. I have said this before and failed to stick to it, but this time I will stick to it, I am never ever ever buying another AIM stock. The ones that rocket to the moon are few and far between, you can do all the research/analysis that you want but there is still an enormous amount of luck involved.

[activmojo] 27/9/2022 11:27

Today's news explains PLs dismissal performance on ATOME investors meeting yesterday. He kept on sniffing during the meeting maybe he was crying 😢
Would it be possible to pay back the debt from USA profits when it's back on line?

[ucasavi] 27/9/2022 11:23

Cannot get cash out of the country?
Buy agricultural produce which Argentina has plenty, and export all over the world.
Not so complicated.

[brasso3] 27/9/2022 10:59

On reflection this was obviously a significant warning sign from 28th July RNS:-

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] 27/9/2022 10:53

Now need to sell and salvage something.

[brasso3] 27/9/2022 10:46

The cheer leaders on here keep claiming we are profitable but the total debt in terms of loans/ bonds is now $34m.

[brasso3] 27/9/2022 10:42

They need to get US production online and pray that WTI oil prices stay above $80/ barrel.

We are witnessing value destruction due to over commitment to as basket case country.

How did we allow our best asset (USA) to be offline for so long during record high oil prices? It looks like these 2 wells were online for 3 months out of the last 12!

[chris cat] 27/9/2022 10:26

Brasso, I'm wondering if they can use the money that they can't get out of the county, of course if successful we could end up with more money stuck in the country.
Bengal, I have no idea how they can repay the debt, one thing that I took comfort in before was that the bond holders must have done their due diligence. The concern is that the wells all deplete fairly quickly although this seems to have slowed recently.
We made a big song and dance about paying down debt and then ran it up again really quickly, kind of like those people who re-mortgage to pay off credit cards....then run up the cards again.

[bengal1] 27/9/2022 10:09

Brasso, how do you think the company can payback $29m debt?? Your honest appraisal would be most appreciated. I feel this is sinking.

[bengal1] 27/9/2022 10:05

Busted flush. Some big sells going through.

[brasso3] 27/9/2022 09:59

and now they are setting up another business that will have strong links inside Argentina!

[chris cat] 27/9/2022 09:51

Once the market loses confidence you are shot to pieces, its far harder to get it back than it is to keep it in the first place. PPC lost the market years ago and this is the result.

[brasso3] 27/9/2022 09:02

So it looks like any potential profits from Argentina are going to be 'trapped' in the country in the near future. We need to commit to using all US profits now as part of a debt reduction programme. Its hard to see how the Argentine assets have any value with the socialist government that is in place there. Things will not change there until there is complete collapse. The Argentine Peso is in an exponential decline verses the USD.

[bengal1] 27/9/2022 08:49

Also no mention of any Farm in proceedings?

[bengal1] 27/9/2022 08:31

A real mess. I thought this would drop at least 30% on open.

[technohead] 27/9/2022 08:31

Brasso - 6433 - by the time the consolidation comes we might only need to get from 50p to 250 to do a 5 timer!

[technohead] 27/9/2022 08:30

Brasso - 6431 - thank you I did not read the RNS properly - I must have skimmed it and then concentrated on PL comments.
This really is the Pits!
Not because of Paraguay but the complete mess they have managed to get themselves into.