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to add a good chunk more back here in early 1.70's and /or into late 1.60's, I must admit .. two thing stopping me : there are lots of other rallying share opportunities in this space now to better deploy capital on imho, and most importantly, this doggies doggy current share price is against an extremely favourable poo&g backdrop.. and if that were to change down to just favourable for eg then this could of course potentially fall plenty further. alas.. and add to that that near horizon drilling outcomes are up in the air here still too; great if good drilling outcomes, but there may not be... so, altogether, i've decided to hold off adding back any in the 1.75p to 1.65 p range.. I may easily live to regret that I get, but my dislike of PL will comfort me in being wrong, at least.. ie you shouldn't really be betting on stocks where you don't believe in management (that said 1.50's p here would see me park my dislike of Pl and add back a chunk i'm pretty sure.. as i'd like the feel of that bet here..)
NicetoMichu We don't need traders scalping a few % so i would hope we never see the 160's again. This is priced mid covid with no value from ATOM or the drill this year in Paraguay, but they have failed to increase production even with all the work undertaken so i understand the lack of interest. Below is what i am waiting for and i believe we will get in the next few weeks, PPC and TRIN have both been ignored by the market and i see little downside from here . i also think we have finally got rid of quite a few stale bulls now ATOM has listed.
" Whilst the total Group production showed no growth in the year due to natural declines and the Louisiana wells shut ins for most of year, the financial performance for the year is expected to show a significant improvement on the previous year with materially increased operational profits, adjusted EBITDA and free cash generation. Group oil production in Argentina promises to materially increase in Q1 2022 augmented by the drilling of wells in Salta."
Mirros my own thoughts. PL has diluted s/holders to hell in recent years and produced nothing that resembles progress beyond monetising his private interests (Atome). Given POO its incredible that he continues to destroy s/holder value here.
"Whilst the total Group production showed no growth in the year due to natural declines and the Louisiana wells shut ins for most of year....................." sums up why this is such a dog. The argument about well its ok because the profits are better because POO has done well just don't hold water as POO could equally reverse ferret.
Fevertreeman " The argument about well its ok because the profits are better because POO has done well just don't hold water as POO could equally reverse ferret."
Whats that, go back down a hole. ;-)
Not only did production not show any growth they missed 2021 forecasts by 30%. The 2021 target production was 3600 - 4000 BOEPD. Furthermore 2020 production was a higher oil:gas ratio compared to 2021. PPC got lucky that oil prices were high in 2021 otherwise there would have been another placing.
Party well truly over 4 P L AND PPC ATOME needs now deliver some share holder value, oil record highs,
I can totally understand the negative tone here , production has stagnated which is poor really after all the drilling and workovers. But i do still have hope that Salta will come good and this news has been held back to allow for the ATOM sell off .
I'm very much hoping that the results at the end of February will give an indication of how the company is doing with improved gas and oil prices although would be good to see production increasing too. Maybe there will be a re-read after this - then possible acquisitions this year and Paraguay drilling starting to arrive on the horizon.
Will be interesting to see how things are looking by early March.
Atb,
Northern
I notice plenty of the old guard still posting doom and gloom, i was hopeful they would all have sold out after the ATOM bonus but they still want to tell us how bad it is here. Time to move on , life's way to short for all this, or are you all still talking your book and wanting a lower SP ( i think so ). NicetoMichu least your honest , but really we don't need traders here . Big year for PPC and account should look healthy with all drill's fully paid for.
The Group's Argentine subsidiary issued a mini dollar corporate bond in Argentina of US$9 million, rated investment grade A- by the Argentine associate of the international rating agency Fitch. Three times oversubscribed, it carried an interest rate of only 1.34% per annum, a rate the Company believes is unmatched by President's peer Group both outside as well as inside Argentina
comeonvog. I couldn't agree more with your comment. I don't know why people are so negative and insulting to PL. I think he is an honest man trying do do his best. Yes, he may be a rich man but wealthy men still don't like failing or losing money.
Here is to a better 2022 and the future.
Regards
Dill.
Completion of first Salta well in progress
Cementing of casing of second well in progress
Presume rig then moving on to third well.
Triche well permission to perforate higher zone in progress
Atome created and spun off.
Paraguay drill to come.
Funding in place via low cost bond for Salta development capex.
Just what are people trying to pull apart here?
Aware of the past but that card is not applicable according to the above?