2022
President Energy PLC changes its name to Molecular Energies PLC with a new ticker LON: MEN. This represents part of a defined evolution strategy of the business including a focus on the newly created Green House Capital Division (75% holding) and the diversification of the Company’s interests.
2021
In December, Green House Capital is created as a division of Molecular Energies PLC, a company which incubates early-stage opportunities in the green and/or alternative energy sub-sector.
2021
ATOME PLC, recently created by the company, was spun out in December, capitalising on the company’s contacts and experience. ATOME is listed on the AIM market of the London Stock Exchange, focused on green hydrogen and ammonia production.
2021
In June, Molecular Energies PLC was pleased to announce that an agreement had been signed with a substantial Northern Hemisphere state-owned energy company to farm in for a 50% participating interest in the Pirity Concession, Paraguay. The exploration well will target the Delray complex of prospects, estimated by the Company to contain in aggregate over 260 MMbo of Pmean Unrisked Resources. Drilling is expected to commence in H1 2022.
2021
In March, Molecular Energies PLC commenced its H1 2021 gas well drilling campaign in Rio Negro. EV-1001 and EV-1002, Estancia Vieja field, together with LB-1002 gas well, Las Bases, showed initial aggregate production levels of 170,000 m3/d (6 MMscft/d or 1,000 bopd) being the equivalent of 6,000 MMBtu. All three wells were completed on budget and on time for end May, which sees higher winter gas prices in Argentina.
2020
Molecular Energies PLC completes a successful drilling and workover programme in Rio Negro, Argentina, signifying increased production. A new compressor was commissioned at the Las Bases field which also enables more gas to be delivered from the Company’s Estancia Vieja gas wells.
2020
In June, the international commodity trader Trafigura agreed to substantially increase its stake in Molecular Energies PLC resulting in a net debt reduction of over least US$16 million in the calendar year.
2020
Molecular Energies PLC commission 16km pipeline between Puesto Prado and Las Bases facilities. This enables greater volume of gas to flow through the Company’s 70km pipeline to market. Additionally, a new large scale compressor and opening of shut-in wells in Estancia Vieja with the view to boost net oil and gas production in 2020.
2019
Acquisition of the producing exploration contract covering the 384 km² area known as Angostura in the Rio Negro province, Argentina. Situated directly to the west of Molecular Energies PLC’s Las Bases Concession. Angostura currently produces both oil and gas and has a connection to the Company’s regional pipeline.
2019
Reunification of an area between Puesto Flores and Estancia Vieja spanning approximately 70 km² known as Loma de Kauffman. Creating a reunified Concession totalling some 240 km².
2018
December 2018, the Company acquired 90% interest and operatorship in the Puesto Prado and Las Bases blocks in the Rio Negro province including its own 66km 8″ diameter steel gas pipeline running from Estancia Vieja field to Molecular Energies PLC’s own tie-in to the regional gas transport pipeline allowing gas to be transported and sold to market.
2017
In September 2017, the Company acquired 90% interests and operatorship in the producing Puesto Flores as well as the Estancia Vieja blocks in the Rio Negro province.
2014
In July 2014, the Company acquired the remaining 50% interest and operatorship in the Puesto Guardian concession.
2012
Molecular Energies PLC entered Paraguay in September 2012 by farming into the underexplored Pirity block.
2011
At the time, the Company was focused on its portfolio of interests in Australia and the United States, first entering Argentina in June 2011 through the acquisition of a 50% non-operated interest in the producing Puesto Guardian concession, in the province of Salta.
2009
The Company changed its name to President Energy Petroleum Company PLC when Peter Levine acquired a controlling interest in November 2009.
2004
The Company was originally founded as Meridian Petroleum Resources PLC in 2004.
. . .