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Twas a really good positive RNS, confirming production up and exports up so sales revenues will be up. And the SP is still the same as before the announcement. Really good news, really disappointing market reaction. Twas ever thus.
Maybe news of flow rates and more drilling in Salta/PG might help.... maybe all these good things are like adding pressure to a volcano so although the SP hasn't moved yet, when it does it could really go..... or not. Generally with President it's 'or not' but maybe next time it'll be different....
Feeling more confident towards my investment in PPC and dare i say it looking forward to the remainder of this year with renewed optimism and our potential game changing drill in Paraguay.
Look at markets sea of red, hopefully value will come through in time.
Of a good President Energy RNS but still the sp doesn't move. Yes very frustrating but I think they have just to keep going with what they are doing and somehow get production up.
Atb,
Northern
Cracking RNS, opens up at 1.8, and the price has dropped back 1.6. This share really is infuriating. Will try and switch off for this afternoon and focus on my other investments. I'm backing Constitution Hill in the 13:30, and of course Honeysuckle in the Champion Hurdle later
Also like to remind readers , we are fast approaching Argentine winter months. We historically get paid more for our Gas/oil in winter. I also believe we now have a larger stock of well so we can increase our production over this period , Peter has alluded to that fact on previous RNS's.
I do not think there has been many better situations to average down than now at 1.7p. With around 50% of PPCs oil production now exposed to market prices this is a game changer for cashflow. I think the market still needs to see that the 3 well drilling programme is successful, so once that is confirmed at 750 BOPD then everything is set up for strong 2022. If they can get drilling in Paraguay then that will be the icing on the cake.
Had to buy a couple of grand at 1.6469p. This is getting dragged down today with other O&G company's when really it wont affect our profits.
indeed.. particularily O&G'ers getting hit.. but he didn't know that yesterday when drafting this RNS..
(brutal game this.. s/p's dragged up kicking and screaming only, even when PoO&G goes thru roof .. and when poO&G falls a small bit from amazing levels to still being at amazing levels, many share prices retrace punchily/quickly)
Not great day release positive RNS markets in free fall,
Fine RNS and I topped up first thing this morning. (the tranche i sold recently at 1.55p I bought back at 1.78p.. oh well :-))
And a genuine chance for some consistent very good momentum here now.
Understood that the market will be a little cautious here given the history, but those 3 new oil wells announced as coming in even decently soon enough would then have seen two really strong pieces of bottom line accreditive news quickly on the bounce... and this s/p would surely have to wake itself up meaninghfully to that..
So please PL show us a corner has well and truely been turned here .. and 3p plus could be on the cards quickly enough imho.. Indeed this news alone could push us over 2p readily enough in coming days, hopefully.. and the new oil well news soon to come then on top might see some more buys here in hope for that too.. and if that news were then good.. etc..
Clear sellers out, will move in time,
At the moment I'm disappointed with the market's reaction here. It's a really good RNS. Confirmation of huge cashflows in to PPC. I'm hoping (based on no particular calculations) that this news can help PPC gather momentum this week and take the SP back to the 2.5p range
That's about the most positive RNS that I can remember from PPC. Great news from both Argentina & Louisiana. $3m-$3.5m in revenue for March, and that could go up with the DP/PG wells coming online and stabilizing. 19,000 barrel of oil to be exported from Argentina is a very significant amount, hopefully it's not a one-off but rather it could be the start of a trend. More exports and higher prices in Argentina to help it become a proper oil producing country.
Really good that Louisiana is back up online and producing, and "low opex and the continued use of ample tax losses", there will help more of the sells hit the bottom line
Also don't forget Atome exposure to green ammonia production ...
19,000 x $90 = $1.7m
5,000 x $100 = $0.5m
With the rest of the Argentina production it looks like March could generate around $3m - $3.5m in revenue. Probably PPCs largest ever month in its history?
Very significant news! 19,000 barrels of oil allowed to be exported in Argentina is much more than I had expected. Hopefully this can get us back to 2p in the short term.
At last some real positive news, mayb now we can start progressing with a higher market cap too reflect this under valued company, GLA
to the bottom line without any addition to costs. Sounds really good and not long to wait for the more competitive price increases. Great RNS!
Atb,
Northern
5000-5500 barrels of oil expected shipped this week with proceeds received as usual 20 days from the end of the month. The price of Louisiana crude as well as that of gas remain robust. With low opex and the continued use of ample tax losses, President anticipates significant net cash generation in the context of its Louisiana operations;
Argentina will start to increase from April with already an announcement on Monday that prices at the pump will increase by 10%. President expects more of a gradual increase reducing the material gap to world pricing. As such the progressive step by step signs are welcomed and will have a positive effect.
received approval from the regulatory authorities in Argentina to export approximately 19,000 barrels of oil being part of its Argentine production this month at or around international prices;
Yes good news about sales and shows we are moving forward and showing in these current troubled times Argentina a safer jurisdiction. My thought's are with the people of Ukraine who only want to live in a democracy , something we take for granted.