www.presidentpc.com

Producing Oil/nat gas from the ELV field/USA....45% of Oil/Gas produced hedged at $100/bbl and $10.90 per mcf)




Drilling ELV.....Suspended until gain consent for sidetrack...casing and wellhead left in for future re entry

3D Seismics have been shot on PEL82 Otway Basin Australia....results are excellant!
PEL 82 Potential resource increased from 150mbbls Oil tooooooo 430mbbls Oil!



Also trading on Plusmarkets
http://www.plusmarketsgroup.com/data.shtml?ISIN=GB00B3DDP128/GBX/PLUS-exn

Tuesday 30 November 2010

PRESIDENT PETROLEUM COMPANY PLC
("President" or "the Company")

Corporate Update

Chairman of Operating Subsidiaries

President is pleased to announce that Peter Levine has accepted an invitation from the Board of the Company to join the boards of President's two operating subsidiaries, President Petroleum (USA) Inc. and President Petroleum Pty Ltd. with effect from 1 December 2010. On joining, Peter will be appointed by these boards as Chairman of both operating companies.

Corporate Structure

President is currently evaluating a proposal to change its domicile and is in the final stages of consultation with the Company's advisers and largest shareholders.

The Board believes that the interests of the business and its shareholders will be best served by ensuring that the Company is located in an environment that is politically and economically stable, with excellent infrastructure and communications, enhances the Company's ability to recruit and retain key staff and provides greater certainty in its future tax position.

At this stage of President's development, the Board believes a change of domicile would be a relatively straight-forward process and the proposal being considered would create a new Group holding company which would be incorporated in Jersey, with tax residence in Switzerland and would continue to be UK listed, initially on AIM. If implemented, the proposal is not expected to impact President's eligibility for UK stock exchange indices nor to have any adverse implications for the Company's shareholders as a whole.

In the event that the Company proceeds with the change, further announcements will be made in the first quarter of 2011 and completion is expected during the first half of the year.

Stephen Gutteridge, Chairman of President, said:-

"We are delighted that Peter has agreed to make his experience and leadership available to both our operating companies at an exciting time, with potentially transformational drilling already underway in Louisiana and scheduled to commence in Australia early next year."

Stirring nicely this morning as people take positions for the current drill at Kaf3.

Another tick up this morning ;-)

Motoring into the close!

Looking good Chav only another 56p per share and I'll be in profit!!!!!
Long time from we've seen 80 Chart shows a bit of resistance here. ( I think) Just got into profit in BLVN and didn't think that was going to happen so fingers crossed.

You did buy in high Maggie!

Plenty of drilling over the next few months ,which if successful, should see you in profit.

Current drill could have results next week.

Have held them for years before they crashed Was in profit then and with hindsight should have sold but don't have hindsight and have to fight with myself to cut losses so here we are today hoping to salvage something! - Bring out the violins:-(

Several buys today maybe 100p soon.

mitzy ...it's going in the right direction at the moment :-)

Some profit taking this morning:-(

Good start to the week and looking to break 90p level.

Getting close to the 90p...Sonris site reported that the Well kicked, probably on entering the upper pay zone...looking good :-)

Been invested since 70p and hoping this continues and delivers the goods

Drill results next Week?

90p cracked..onwards for 1 next.

Getting a bit excited now!

Try and keep some control Maggie!

Looking good though.

very nice finish to PPC's week.

Truely amazing.

Nice little profit taken today just in time for Christmas but will re-invest in New Year when Aussie drilling takes place as this would be the real game changer for PPC