President Energy PLC PDMR Shareholding (0427D)

TIDMPPC

RNS Number : 0427D

President Energy PLC

04 October 2018

4 October 2018

PRESIDENT ENERGY PLC

("President" or "the Company")

PDMR Shareholding

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, announces that Victor Linari, Chief Geologist purchased on 27 September 2018 a total of 151,800 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares").

Following this purchase, Mr Linari has an interest in 151,800 Ordinary Shares representing 0.014 per cent. of the Company's issued share capital.

 
 1.     Details of the person discharging managerial responsibilities/person 
         closely associated 
 (a)    Name                                       Mr Victor Linari 
       -----------------------------------------  ------------------------------------------- 
 2.     Reason for the notification 
       -------------------------------------------------------------------------------------- 
 (a)    Position/status                            Chief Geologist 
       -----------------------------------------  ------------------------------------------- 
 (b)    Initial notification/                      Initial notification 
         Amendment 
       -----------------------------------------  ------------------------------------------- 
 3.     Details of the issuer 
       -------------------------------------------------------------------------------------- 
 (a)    Name                                       President Energy plc 
       -----------------------------------------  ------------------------------------------- 
 (b)    LEI                                        213800MA2ZN22I4ITA79 
       -----------------------------------------  ------------------------------------------- 
 4.     Details of the transaction(s): section to be repeated 
         for (i) each type of instrument; (ii) each type of transaction; 
         (iii) each date; and (iv) each place where transactions 
         have been conducted 
       -------------------------------------------------------------------------------------- 
 (a)    Description of the                         President Energy plc Ordinary Shares 
         Financial Instrument                       of 1p each 
       -----------------------------------------  ------------------------------------------- 
 (b)    Identification code                        ISIN: GB00B3DDP128 
         of the Financial 
         Instrument 
       -----------------------------------------  ------------------------------------------- 
 (c)    Nature of the transaction                  Acquisition 
       -----------------------------------------  ------------------------------------------- 
 (d)    Price(s) and volume(s)                     Price(s)              Volume(s) 
                                                  --------------------  --------------------- 
                                                   9p                    151,800 
                                                  --------------------  --------------------- 
 
        Aggregated information 
          *    Aggregated volume 
                                                                151,800 
 
 (e)     - Price                                                9p 
       -----------------------------------------  ------------------------------------------- 
 (f)    Date of the transaction                    27 September 2018 
       -----------------------------------------  ------------------------------------------- 
 (g)    Place of the transaction                   London Stock Exchange, AIM Market (XLON) 
       -----------------------------------------  ------------------------------------------- 
 

Contact:

 
 President Energy PLC 
  Peter Levine, Chairman, Chief Executive 
  Rob Shepherd, Group FD                       [phone] 
 finnCap (Nominated Advisor & Joint 
  Broker) 
  Christopher Raggett, Scott Mathieson, 
  Tim Redfern                                  [phone] 
 BMO Capital Markets (Joint Broker) 
  Jeremy Low, Neil Haycock, Tom Rider          [phone] 
 Camarco Financial PR 
  Billy Clegg, Jane Glover, Violet Wilson      [phone] 
 

Notes to Editors

President Energy is an oil and gas company listed on the AIM market of the London Stock Exchange (PPC.L) primarily focused in Argentina, with a diverse portfolio of operated onshore producing and exploration assets. The Company has independently assessed 1P reserves in excess of 15 MMboe and 2P reserves of more than 27 MMboe.

The Company has operated interests in the Puesto Flores and Estancia Vieja Concession, Rio Negro Province, in the Neuque n Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. The Company is focused on growing production in the near term in Argentina. Alongside this, President Energy has cash generative production assets in Louisiana, USA and further significant exploration and development opportunities through its acreage in Paraguay and Argentina.

The Company is actively pursuing value accretive acquisitions of high-quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support including the IFC, part of the World Bank, and an in-country management team, President Energy gives UK investors rare access to the Argentinian growth story combined with world class standards of corporate governance, environmental and social responsibility.

This announcement contains inside information for the purposes of article 7 of Regulation 596/2014

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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October 04, 2018 11:21 ET (15:21 GMT)