Company update Yes, good update. Still very cheap at this price. Their 2P reserves of 27mboe are currently valued at only $4.62 based on an EV of £96m (and 1.30 exchange rate). A valuation of $10 was a normal rate before the OP crash so look forward to a doubling over the next couple of years as they report continued progress and the market improves. I don’t see OP crashing back and there are plenty of possibilities for a further spike upwards. And that is before assigning any value to Paraguay. DB
Company update Things looking up from a company point of view. Just need Argy to sort out it’s political crisis and we’ll take off TP
Malcy’s Blog/Voxmarkets interview ps. Update on Puesto Flores concession today. Very positive. Should help the sp a bit. TP
Malcy’s Blog/Voxmarkets interview I’m afraid it all boils down to sentiment, JT. Here at PPC the current financial turmoil in Argy has negated all the good news. FRR is also suffering, in my view, from the political situation in Georgia in addition to the high cost involved in developing its assets. Both, along with CHAR, EDR, ANGS, etc, etc, are currently suffering from negative sentiment. Until that changes shares will languish. Hang on in there, humans are fickle beings and sentiment can change on a whim. Then the herd mentality kicks in and away we go! TP
Malcy’s Blog/Voxmarkets interview Hi TP. Was a bit reading Malcy’s podcast but picked up on what he said about PPC. Sadly there’s not much chat on this site, but Malcy stated that the 9.5p was extremely undervalued. This brings me to an observation as I get more involved with Oil and Gas: From what I see most of the companies I follow (but dont hold shares in all), experts seem to say they are very undervalued - FRR for one, PPC etc etc Are the MMs getting their figures wrong or is there an ulterior motive ?
Malcy’s Blog/Voxmarkets interview Malcy discusses PPC at 9.50mins As usual he only has good things to say about PL and his company’s progress. ) TP
IMF agree loan IMF Reaches Staff-Level Agreement with Argentina on a Three-Year, US$50 Billion Stand-Arrangement. [link] this bolster the peso?
IC Buy Investors Chronicle has now made it a buy after somewhat confusingly making it a sell just 10 weeks earlier (from a buy). I really don't understand the mag's logic as the newsflow has not changed much. Seems to be a convoluted recommendation to 'day trade' small cap investments rather than invest in them. Gives the scribblers something to write, I suppose.
Re: FY Results out IB, looking forward to when its approaching half that amount, its had a long hard journey since those days, but beginning to make good progress now.TP
Re: FY Results out lets not forget that a few years before that it was being tipped at 70p
Re: FY Results out Yes, N2M, this share has never set the investing world on fire has it? But remember, its not so long ago it was trading around 6p and not long before that, it was up at 11+. During that time the company has changed beyond all recognition and still were in the same trading range as we were 2years ago.Maybe its the stranglehold PL has on the finances that turns people off. But one thing you cant argue is that these are a sterling set of results with Q1/18 even stronger. Some day the herd will get it.... !!!!TP
Re: FY Results out Not interest in PPC I hasten to add, interest in Argentina.I read somewhere, maybe in Echo news, that Exxon were interested in taking a position in Argentinian assets. If I can find it again Ill post it.TP
Re: FY Results out 2017 was a progressive year and now in mid 2018 PPC seems in a strong and ongoingly strengthening position imho... yet the share price hasn't budged today... disappointing AGAIN..I'm loathe to sell any sub 10p as I think the s/p is somewhat unreasonably low right now .. so hopefully current workovers can bring some s/p appreciation here soon... a complicated share - in terms of lots of moving parts - this and I'm now seeing it as a slow burner in my p/f and so deserving of a mid sized position only.. so I'm more sure again I'll sell another tranche soon enough .. and even near 11p would now be tempting to that end.. I still like this share though but have lower expectations of gains than I did 6 months ago....
Re: FY Results out Prior,Where do you get the 'interest from big oilers'?
FY Results out Good set of results with good progress in year and further improvement in production, net back and reduced admin in Q1/18!Political situation also seems to be stabilising and further interest from big oilers is interesting. Whats not to like? And still the market reaction is negative!!Good buying opp. imvho.TP