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
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Depends on how many producing Wells are drilled halifax!!!

so come up with a guesstimate, you cannot ignore the time factor when valuing oil in the ground.

40m bbls would last for years halifax....price of Oil only going up as the years go by so it will be gaining value all the time.

oil in the ground isn't worth anything until it is extracted.

Very true halifax however the speculative value of the 'possible' Oil in the ground does have a value which should reflect in the sp.

the value of the oil in the ground should be determined by any number of factors including cost and difficulty of extraction, local conditions,time,politics,logistics etc etc, it is not a simple arithmetic calculation.

Surely lots of oilies are part valued on 'estimated recoverable reserves'?

1P oil in ground commands a value of around $8 - $10 a barrel.

And don't forget that PEL-82 has a possible 430 million barrels.

Indeed hallifax...if you look into PEL82 you will find that it is close by a pipeline and that is one of the main worries/costs with producing.

LR2's figure is simple arithmetic for a very basic idea of current values, it does not take into account the dilution required for raising enough cash to see Pel82 through to production.

Current sp is very undervalued should Pel82 come up with 40 million bbls however and PPC current production nearly covers the current price.

around 300 boepd as forcast in march, more or less bang in with expectations

i see a 8 figure deal on the horizon

buy

Up 30% today, but not sure why.

Nice to see PPC bounce back into life with Rig news due.

PPC pushing onwards and upwards again today:-)

Fingers crossed it holds above 70 this time

When the RNS comes out saying that the Rig is in Oz then 70p will be left a long way behind.

PPC continues it's rise and will hopefully breakout of this range past 70p today.

Haven't seen the sp this high since 2007...70p broken and looking to break 80p....will there be enough news tomorrow to hold the gains?

Thought you'd deserted this Chav Fingers crossed and holding!

Long breaks of not a lot happening Maggie, but I never give up! AGM this morning so hopefully get something useful from it to build on the up trend in sp.

rig news would be nice