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

bought back here last week, seemed rude not to

President Petroleum

Drilling Update


RNS Number : 1508P

President Petroleum Company PLC

29 September 2011








29 September 2011

PRESIDENT PETROLEUM COMPANY PLC

("President" or "the Company")



Drilling Update





President Petroleum today announces that Well A49 East White Lake, Louisiana ("EWL") has identified potential oil reserves at least 50% higher than expected.



Well A49 EWL (President 21.875% net interest)



This well was a re-drill of an old well and was drilled to a total measured depth of 10,170 feet targeting some 35 feet of pay in the Y1 sand. Preliminary analysis indicates that 37 feet of what is considered to be oil pay was identified at about 9,490 feet MD.



After drilling on, a further 60 feet of potential oil pay was unexpectedly encountered in the Y2 Sands at about 9,700 feet. This sand, together with the Y1 above, results in at least 50% more oil reserves than expected. There is a further 20 feet of possible pay higher up from the Y1 sand.



After reaching the above depths, integrity issues arose on the old surface casing of the re-entered well, compromising its reliability for further drilling and completion. Given the significance of the pay so far identified, with the deeper DB sands potential still to drill, and in order to preserve local tax incentives, it has been decided to drill a new "twin" well as soon as possible. Electric logs will then be run on all identified and further possible pay zones, and then the new well will be completed as a producer.





Peter Levine, Chairman of President Petroleum Company Holdings BV commented:-



"The preliminary results of A49 EWL are extremely encouraging indicating a substantially greater net pay than expected with increased oil production and reserves. We look forward to completing this and the upcoming McKerall 1 well, which should further benefit our Louisiana production base"

ARGENTINA UPDATE

Licence successfully extended to 2026

First Argentine Well Spud

President is pleased to announce that the license for its Argentine concession, Puesto Guardian, has been extended by ten years, up to 24(th) August 2026. In addition, President today announces that the first well of the five production well programme has now spud with a projected completion time of approximately forty days.

The license extension is a very important step forward and allows President and its JV partner to focus on continuing to develop the significant potential of the concession.

Puesto Guardian is the first concession to receive an extension in the Salta Province of Argentina.

President is now working with its 50% partner in Puesto Guardian on:

-- further progressing the five production well programme following the spudding of the first well, announced today

-- producing a plan to optimise production from currently producing wells
-- examining any potential for production from some 33 formerly producing and shut in wells
-- reviewing the 3D seismic to identify any potential hydrocarbon bearing structures which have not been previously identified or addressed

Peter Levine, Chairman of President Petroleum (USA) Inc commented:

"The grant of the license extension is a major catalyst in the programme to develop President's Argentine asset and unlock its untapped potential.

We look forward to progressing the work programme, and further expanding our investment in the region."

Great chart.

In today's Sunday Times:

'... President Petroleum will get a boost this week when a report reveals a big jump in its reserves... A prospective resources statement is expected to reveal oil and gas reserves worth at least 77p a share. President's shares closed on Friday at 40p.'

NB: this company is run by Peter Levine, who pocketed an estimated £120m when he sold his previous company, Imperial Energy.

Think I'll buy some shares first thing tomorrow.

Hope you got them first thing seem to have shot up I already hold just hoping to break even. Good luck!

amazing growth developing here

anywhere from £1 / £2 this year

Thursday 29 March, 2012


President Petroleum

Drilling Update: DP-1001 Well - Dos Puntitas Field


RNS Number : 3115A

President Petroleum Company PLC

29 March 2012






29 March 2012

PRESIDENT PETROLEUM COMPANY PLC

("President" or "the Company")



Drilling Update: DP-1001 Well - Dos Puntitas Field



Successful results substantially ahead of expectations



Further to the Company's announcement on 19 March 2012, President is pleased to announce that Well DP-1001 has been logged and preliminary evaluation demonstrates that the well has been very successful and substantially above expectations.



The well has found the Oil Water Contact at or near its original level and combined with a well location in a structurally high position, DP-1001 has encountered an oil column substantially longer than expected. The log demonstrates a gross oil column of 54 metres at a depth of between 3115 -3169 metres with a net pay of 33 metres. In addition, rock properties and hydrocarbon saturations are seen to be at the high end of the pre-drill range.



President will test three reservoir intervals, all of which appear capable of primary production not requiring fraccing or artificial stimulation. The deeper two zones are A5 and A6 sandstones, themselves capable of initial flow rates well in excess of the pre-drill prediction of 380 bopd post frac for the whole well. The upper Limestone interval is also expected to contribute to immediate production, and has historically produced in the Dos Puntitas Field. Accordingly, President is confident that the pre drill production prediction will be materially exceeded without the need for fraccing. The same Limestone interval has already been identified as containing significant, additional new oil in place elsewhere in the Puesto Guardian Concession. Two new cores have been cut in the DP- 1001 well to examine rock properties and hydrocarbon saturation. The cores are the first to be cut for 25 years and combined with the new logs they show that the Limestone interval has good matrix porosity, expected to be capable of un-stimulated commercial flow rates. The new logs and cores have provided valuable new information to optimize reservoir models and help maximise recovery factors and flow rates.



Testing of the well is expected to commence within the next few days, and will be brought into production during April.



A location has been chosen for the third well (DP-1002) of the 2012 five well programme, which demonstrates the same characteristics as DP-1001. This third well is expected to be spudded within the next 14 days.



Richard Hubbard, President Chief Operating Officer commented, "Initial results from the DP-1001 well leave President confident to test and complete multiple intervals and place the well on production without any need for prior fraccing as had been the original expectation."



Commenting on today's announcement, Peter Levine, Chairman of President Petroleum Company Holdings BV said:



"The results of DP-1001 are extremely encouraging and we are looking forward to materially increasing production as a result of this new well. We view the future with increasing confidence as we continue to plan both for new wells and the upcoming frac campaign on old shut-in wells."

Encouraging news Chav. So you haven't given up on this yet!

Very good news Maggie...this area is proving very successful for PPC thus far.

Cannot bode well for any companies with Argentine assets :

http://www.washingtonpost.com/business/argentine-president-announces-bill-to-nationalize-spanish-controlled-oil-company-ypf/2012/04/16/gIQA1JscLT_story.html

.

Bought Back Today looks like its turning positive at last

Could this be Imperial without the Mitvol factor?

info Shares mag courtesy of Alliance Trust
Fracking to stimulate President Operational activity could help support a rerating of Latin American explorer - Tom Sieber A 20% year-to-date fall in Latin American energy play President Energy (PPC:AIM) has created an interesting opportunity ahead of imminent operational newsflow.Fracture stimulation or ‘fracking’ operations to test the potential of the limestone reservoirs on its 50%-owned Puesto Guardian block in Argentina commenced on Monday (15 Apr). A successful outcome could help push the shares closer to broker Jefferies’ 29p a share valuation based on the firm’s discovered resourcesSome kind of political discount is inevitable, considering the Argentine government’s decision last April to seize the assets of Spanish firm Repsol (REP:MC). But 2013’s poor year-to-date run, following weather-related delays at Puesto Guardian, mean the risks are more than discounted in the counter trading at 20.1p. If initial fracking helps to increase current gross production of 450 barrels of oil per day President has identified a further three follow-up wells and is examining another 20 candidates for a wider programme. The group is expected to produce a reserves update based on a fresh independent audit of Puesto Guardian at the mid-year point. The share price weakness means potentially high-impact exploration in Paraguay, where first drilling is expected next year, is effectively in the price for nothing. Initial results from a seismic survey in Paraguay are expected in the fourth quarter of 2013. President’s executive chairman Peter Levine has a track record of successfully building a business through acquisition and development drilling. He founded Russia-based Imperial Energy and listed it on Aim in 2004 with an initial market cap of £2 million. In August 2008 the company was bought by Indian state energy company ONGC for £1.4 billion. Shares says: Buy President Energy at 20.8p

Positive rating on PPC

Argentina Still the Only Fly in the Ointment: Today’s full year results not only underline the progress that the Company has made over the last 12 months, but that its management team is focusing on measured growth with a balance between cash sources and cash uses. While it might seem obsequious, the fact that it recognises the need to fund its work programme with organic cash flow is welcome. However, the one issue that we have is that a substantial proportion of the Company’s growth in the near to medium term will be focused on Argentina, a country which continues to be run into the ground by its government. On this basis, the fruits of its diversification strategy can’t come soon enough, which in turn is the Company’s major risk factor. That said, management is doing all it can to mitigate this prospect, and while 2013 will be a transition year, as the acquisitions made in 2012 are bedded in, we believe that the Company is well poised to make progress.

In this news:

• Corporate Highlights

o Significant expansion of the Company with entry into Paraguay by way of a farm-in, as operator, to world class exploration assets, which provide material upside leverage in the near to medium term, with operations already underway

o Total hydrocarbon production up 44% year-on-year

o Net risked Prospective Resources increased by 109.3mmboe, as a result of the Paraguay acquisition and independent technical review during 2012, with risked NPV10 success case value net to President in excess of US$2 billion (management estimates)

o Increased exploration upside complemented by existing 2P reserves of 6.9mmboe

o Fraccing campaign underway in Argentina, and two new 100% owned and operated concessions added to the portfolio through an open tender

o Louisiana continues to provide solid profits and cash flow

o Non-core Australian assets subject to current farm-out discussions

o Net revenue for the year increased by 60% to US$11.3mm (2011: US$7.0mm) while gross profit increased by 64% to US$3.2mm (2011: US$2.0mm)

o Cash balances of US$17.5mm at the year end with nil gearing and US$15mmof unused loan facilities

o Board strengthened by appointments of Dr. Richard Hubbard (Chief Operating Officer), Miles Biggins (Commercial Director), and Dr. David Jenkins (Non-Executive Deputy Chairman)

• Outlook

o Exciting prospects in Paraguay with a rapidly moving programme and potential for exponential growth in shareholder value during 2013 and 2014 with a success case target of over US$2 billion net to President

o Following interpretation of the 3D seismic, Paraguay drilling campaign to commence in Q2 2014

o Potential to materially increase production in Argentina from current fraccing campaign

o Louisiana is a continued source of solid profits and cash flow.

up date from edison research.
President Energy (PPC) is an E&P with core assets in Paraguay, Argentina and the US. Unusually for a company of its size, President has a very strong board and sound institutional investor base. The jewel in the crown is its acreage in Paraguay, where drilling in 2014 could discover fields worth many times the current share price. Recent work in Argentina should lead to material production increases in 2013, while exploration in Argentina in 2014 would also add substantial value. Our RENAV is 59p.

President Energy directors buy shares
By Giles Gwinnett May 09 2013, 8:21am They bought 170,000 shares yesterday (May 8) at around 21p per shareThey bought 170,000 shares yesterday (May 8) at around 21p per share



Directors of President Energy (LON:PPC) have bought shares in the firm worth almost £36,000.

They bought 170,000 shares yesterday (May 8) at around 21p per share.

Miles Biggins now owns 0.04% of the capital; John Hamilton has 0.15%; Richard Hubbard has 0.13%; David Jenkins owns 0.05% and David Wake-Walker has 0.1%.

Earlier in May, the company said last year’s farm-in agreements into “world class” concessions in Paraguay are set to prompt a step-change in the company’s fortunes.

The company, which also has assets in Argentina and in Louisiana plus a non-core asset in Australia, is particularly excited about the Paraguayan assets.

Takes a few more shares out of circulation, but means no RSN for a month I think.

from the Times on 16th Aug

PPC is the subject of 'Deal of the Day". "There are rumours of "Seismic" news from Paraguay exploration"

Shares are in demand today