News

Download

2017

16 Nov 2017

Operational Update at Puesto Flores, Argentina

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, provides an update on its operations at its Puesto Flores Field, Rio Negro Province, Argentina. Highlights: • The Company is expected to receive in November over US$3 million net cash proceeds from its Argentine oil sales • Fully funded workover programme at Puesto Flores Field commences and is increased to four firm wells • Further wells to be considered next year • Pay-back of the US$2.2 million capex, projected to be less than 12 months at the conservative October oil price level of US$55 per barrel oil

03 Nov 2017

Salta Exploration Assets, Argentina Update

President Energy Plc (AIM: PPC), the upstream oil and gas company is pleased to announce the results of a new integrated basin study and geochemical survey over the exploration assets of the Company centred on its Puesto Guardian Concession, Matorras and Ocultar Licenses, which have resulted in significant upgrades to the Company’s Prospective Resources. Highlights • New extensive studies and surveys validate the significant prospectivity of President’s Argentine exploration areas • Aggregate Paleozoic gas/condensate prospects net to President with mean unrisked Prospective Resources (“MUPR”) of over 7Tcf with an upside case of over 20 Tcf and 185 MMbbls Condensate • New previously unreported Cretaceous oil prospects of over 40MMbbls MUPR identified • President is preparing to launch a farm-out of Matorras and Ocultar, with engagement of advisors and plans to launch in Q1 2018

30 Oct 2017

Notification of Major Interest in Shares

Schroders - Notification of Major Interest in Shares

30 Oct 2017

Open Offer

President Energy Plc (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, is pleased to announce that, further to the Company's announcement on 20 October 2017, a circular containing details of the Open Offer, together with the notice of General Meeting (the "Circular"), will be posted to Shareholders on 31 October 2017.

23 Oct 2017

PDMR Dealing

20 Oct 2017

Results of Placing and Proposed Open Offer

President Energy Plc (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, is pleased to announce that it has issued 66,656,510 new ordinary shares of 1 pence each in the capital of the Company (the "Placing Shares"), representing approximately 7.0 per cent. of the issued share capital of the Company (the “Placing”) at a price of 10 pence per Placing Share (the “Placing Price”). The Placing has raised $8.75 million (£6.67 million) (before expenses). The Placing Shares have all been issued under the Company’s existing authorities, granted at the Annual General Meeting held on 28 June 2017. The Company’s nominated adviser, finnCap, acted as sole bookrunner in connection with the Placing.

20 Oct 2017

Proposed Placing and Open Offer

President Energy Plc (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, is pleased to announce that it intends to raise approximately US$8 million, representing approximately £6.1 million (before expenses) through the issue of new ordinary shares of 1 pence each in the capital of the Company (the "Placing Shares"), at a price of 10 pence per Placing Share (the “Placing Price”)

17 Oct 2017

First Sale of oil from Puesto Flores Field

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, is pleased to announce that it has already banked the proceeds from its first delivery of oil from the Puesto Flores Field, the acquisition of which, together with the neighbouring Estancia Vieja Field, was announced on 21 September 2017

09 Oct 2017

Operational Update

President will shortly commence its initial work programme at the Puesto Flores Field at the Concession. Work will continue from November through to the end of the year and will consist of three firm well workovers with another two wells contingent.

29 Sep 2017

Interim Report and Accounts

Interim Report and Accounts - 30 June 2017

25 Sep 2017

Notification of Major Interest in Shares

Schroders - Notification of Major Interest in Shares

21 Sep 2017

AMENDED: Major Acquisition of Producing Assets in Neuquén Basin, Argentina from Chevron

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, is pleased to announce the acquisition of Chevron Argentina SRL's 100% operated interest in its oil producing assets at Puesto Flores and Estancia Vieja (the “Concession”) in the prolific Neuquén Basin situated in the Rio Negro Province, Argentina.

21 Sep 2017

Major Acquisition of Producing Assets in Neuquén Basin, Argentina from Chevron

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, is pleased to announce the acquisition of Chevron's 100% operated interest in its oil producing assets at Puesto Flores and Estancia Vieja (the “Concession”) in the prolific Neuquén Basin situated in the Rio Negro Province, Argentina.

02 Aug 2017

Puesto Guardian Concession Workover and Group Production Update

President Energy (AIM: PPC), the upstream oil and gas company, provides an update on its continued work-over programme at its Puesto Guardian Concession, Argentina ("the Concession") together with an update on Group production.

28 Jul 2017

Change of Advisor

President Energy (AIM: PPC), the upstream oil and gas company, is pleased to announce that it has appointed finnCap Ltd as Nominated Adviser and Joint Broker with immediate effect. BMO Capital Markets remains Joint Broker.

17 Jul 2017

Argentina, Puesto Guardian Concession Workover Update

President Energy (AIM: PPC), the upstream oil and gas company, provides an update on its continued work-over programme at its Puesto Guardian Concession, Argentina ("the Concession"). Since the last workover update on 14 June 2017, President has successfully completed work on the new water disposal well at Dos Puntitas 8 and brought the prior successful workovers at Puesto Guardian 21 and Dos Puntitas 15 into production as planned and at expected levels. The Rig then moved to Well CGr-20 at the Canada Grande field in the Concession.

06 Jul 2017

Paraguay Project Introduction, Envoi, July 2017

05 Jul 2017

Group Production Update

President Energy (AIM: PPC), the upstream oil and gas company, is pleased to provide an update on its oil sales from its Puesto Guardian Concession, Argentina. June proved to be a record month for oil sales from operations in the Concession, generating invoiced revenue for President in excess of US$1.2 million for the 30 day period (after taking into account tax credits and deducting payment of royalties but before opex).

28 Jun 2017

Result Of AGM

President is pleased to announce that all resolutions put to shareholders at the Company’s AGM held earlier today were duly passed.

21 Jun 2017

Award of Options

President announces that it has granted share options to acquire ordinary shares in the Company to the following persons discharging management responsibilities together with other senior management in accordance with the Company's Global Incentive Plan (“GIP”).

14 Jun 2017

Argentina Update

President Energy (AIM: PPC), the upstream oil and gas company provides an update on its work-over programme at its Puesto Guardian Concession, Argentina.

12 Jun 2017

Paraguay Farm Out

President Energy (AIM: PPC), the upstream oil and gas company is pleased to announce that it has appointed the specialist global oil and gas adviser ENVOI to support the prospective farm-outs of its Paraguay interests together with an updated management estimate of Prospective Resources.

07 Jun 2017

Notice Of AGM

President announces that the Company’s 2016 Annual Report & Accounts have been posted to shareholders, along with a notice of an Annual General Meeting.

06 Jun 2017

Appointment of Chief Financial Officer

President Energy (AIM: PPC), the upstream oil and gas company, is very pleased to announce that the Company has appointed Bruce Martin to the post of Chief Financial Officer to the President family of companies.

02 Jun 2017

Results for the year ended 31 December 2016

President (AIM: PPC), the oil and gas exploration and production company, announces its full year audited results for the year ended 31 December 2016.

12 May 2017

Dispute Update

President gives the following update on its disputes with certain Service Providers in relation to the halted drilling of Well DP1002 S/T (“the Well”) in late 2016. Highlights - President is pursuing claims against two internationally known service providers for what President currently assesses are loss and damages of US$10 million in aggregate, in relation to what the Company considers as their actions/omissions in relation to the Well - Mediation/inter-party discussions are continuing with lawyers representing all sides, with such service providers currently denying liability - If not capable of amicable settlement, President will vigorously protect its position and pursue its claims through the relevant Courts/Arbitration

19 Apr 2017

Louisiana Update

President Energy (AIM: PPC), the upstream oil and gas company announces the acquisition of incremental production in Louisiana. Highlights • Acquisition of incremental production currently running at 150 boepd together with Operatorship in the Triche Well, East Lake Verret, Louisiana, a well in which President has an existing interest • Cash consideration of US$2.25m with a further US$400k earn-out based on future production. Effective date of purchase 1 April 2017 • Group average production April to date taking into account acquisition approximately 1,100 boepd*

04 Apr 2017

Operations Update

President Energy (AIM: PPC), the upstream oil and gas company provides the following update on its Argentine operations. Highlights • Current production from the Puesto Guardian Concession now running at a steady rate in excess of 800 bopd • DP1001 initial production ahead of original expectations, free flowing without pump • Continued adverse weather means workover rig now expected to start the shut-in well frac campaign next week

29 Mar 2017

Operations Update

President Energy (AIM: PPC), the oil and gas exploration company provides the following update on its Argentina operations. Highlights • Successful workover of the second previously producing well, DP1001 • Well back on stream contributing to total current Puesto Guardian Concession production of approximately 750 bopd • Programme to work over and frac shut in wells to commence next week with the short delay due to heavy rains delaying inter-field Rig move

15 Mar 2017

Audited Argentine Reserves Upgrade

President Energy (AIM: PPC), the oil and gas exploration company, provides the following reserves update on its Puesto Guardian Concession, Salta Province, Argentina. Highlights: • Argentine 1P Oil Reserves increase by 9% to 12 MMBoe of which 11.5 MMBbls is oil • Argentine 2P Reserves increase by 10% to 19.9 MMBoe of which 19.1 million barrels (MMBbls) is oil with the balance gas • President Energy Group 2P Reserves now total over 20 million barrels of oil equivalent (MMBoe), including the Company’s producing Louisiana interests

10 Mar 2017

Operations Update

President Energy (AIM: PPC), the oil and gas exploration company, provides the following update on its Argentina operations. Highlights • Successful first workover of previously producing well, DP12, completed on time and budget • Well back on stream with initial production in excess of 120 bopd in line with expectations • Workover operations now commenced on the second previously producing well • Commencement of the programme to work over and frac shut in wells on track to commence end March

20 Feb 2017

Argentina Operations Update

President Energy (AIM: PPC), the oil and gas exploration company, provides the following update on its Argentina operations. Further to the Company’s announcement on 11 January 2017, President is pleased to announce that the work-over rig has been mobilised to the first well location, and that operations have already commenced

11 Jan 2017

Argentina Operations Update

President Energy (AIM: PPC), the oil and gas exploration company provides the following update on its Argentina operations. President announces that it has now entered into a contract for a workover rig in relation to the forthcoming multi-well workover campaign, the plans for which were announced at the time of the recent placing in November 2016.