President Petroleum Company Live Discussion

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poor_teacher 17 May 2018

Re: Good Progress and busy summer ahead Might be summer for you if your back in ole blighty but I am pretty sure it’s winter here in the bottom half of the world

Nice to Michu 15 May 2018

Re: Good Progress and busy summer ahead I believe Southmead was reassured by yesterday's update!So was I. But again am disappointed by this s/p not going decently up off the back .. and with the success they've had in workover's already, the summer workover activity should be well anticipated at this stage too.. Come on and wake up, for goodness sakes, PPC s/p... Annoying (and, given the afore, my earlier stated plan still stands)

The Crazy Russian 14 May 2018

Re: Good Progress and busy summer ahead dont be unkind! he is only letting us all know that he 'reassured'

theprior 14 May 2018

Re: Good Progress and busy summer ahead Ok, SM, we’ve got it ))TP ps. how do you post 7 buy reccs in 2 mins??? Lol

Southmead 14 May 2018

Good Progress and busy summer ahead Now that is a very reassuring update.ARGENTINA UPDATE Seven well workover programme now commenced at Puesto Flores Long term gas test of three wells in Estancia Vieja to commence in June Three well drilling programme at Puesto Flores now to start September The good stuff to know is:-Argentina macro newsPresident notes the media attention given to matters concerning the peso exchange rate and inflation within Argentina. Whilst clearly and understandably these are matters of importance to the country, there are no current or envisaged material adverse changes to President's financial position or prospects. President agrees, sells and gets paid for its oil and gas monthly on the basis of a dollar value for which payment is receivable in pesos at the prevailing peso/dollar exchange rate calculated at the date the monthly monies are actually paid; for example, for oil production in the month of April from Puesto Flores, President received US$66.5/bbl converted to pesos at the time of payment for the oil. For the avoidance of doubt, President's Argentinian bank loan has its reference for both capital and interest in dollars. Such media attention has, to a certain degree, hidden last week's significant positive development in the Argentine Congress. This is particularly relevant to the ongoing preparations for the listing of the Company's shares on the Argentine Stock Market as, according to the Financial Times, approving a new capital markets law, should boost the chances of Argentina being promoted to emerging market status by the MSCI benchmark equity index in June.

Southmead 14 May 2018

Good Progress and busy summer ahead Now that is a very reassuring update.ARGENTINA UPDATE Seven well workover programme now commenced at Puesto Flores Long term gas test of three wells in Estancia Vieja to commence in June Three well drilling programme at Puesto Flores now to start September The good stuff to know is:-Argentina macro newsPresident notes the media attention given to matters concerning the peso exchange rate and inflation within Argentina. Whilst clearly and understandably these are matters of importance to the country, there are no current or envisaged material adverse changes to President's financial position or prospects. President agrees, sells and gets paid for its oil and gas monthly on the basis of a dollar value for which payment is receivable in pesos at the prevailing peso/dollar exchange rate calculated at the date the monthly monies are actually paid; for example, for oil production in the month of April from Puesto Flores, President received US$66.5/bbl converted to pesos at the time of payment for the oil. For the avoidance of doubt, President's Argentinian bank loan has its reference for both capital and interest in dollars. Such media attention has, to a certain degree, hidden last week's significant positive development in the Argentine Congress. This is particularly relevant to the ongoing preparations for the listing of the Company's shares on the Argentine Stock Market as, according to the Financial Times, approving a new capital markets law, should boost the chances of Argentina being promoted to emerging market status by the MSCI benchmark equity index in June.

Southmead 14 May 2018

Good Progress and busy summer ahead Now that is a very reassuring update.ARGENTINA UPDATE Seven well workover programme now commenced at Puesto Flores Long term gas test of three wells in Estancia Vieja to commence in June Three well drilling programme at Puesto Flores now to start September The good stuff to know is:-Argentina macro newsPresident notes the media attention given to matters concerning the peso exchange rate and inflation within Argentina. Whilst clearly and understandably these are matters of importance to the country, there are no current or envisaged material adverse changes to President's financial position or prospects. President agrees, sells and gets paid for its oil and gas monthly on the basis of a dollar value for which payment is receivable in pesos at the prevailing peso/dollar exchange rate calculated at the date the monthly monies are actually paid; for example, for oil production in the month of April from Puesto Flores, President received US$66.5/bbl converted to pesos at the time of payment for the oil. For the avoidance of doubt, President's Argentinian bank loan has its reference for both capital and interest in dollars. Such media attention has, to a certain degree, hidden last week's significant positive development in the Argentine Congress. This is particularly relevant to the ongoing preparations for the listing of the Company's shares on the Argentine Stock Market as, according to the Financial Times, approving a new capital markets law, should boost the chances of Argentina being promoted to emerging market status by the MSCI benchmark equity index in June.

Southmead 14 May 2018

Good Progress and busy summer ahead Now that is a very reassuring update.ARGENTINA UPDATE Seven well workover programme now commenced at Puesto Flores Long term gas test of three wells in Estancia Vieja to commence in June Three well drilling programme at Puesto Flores now to start September The good stuff to know is:-Argentina macro newsPresident notes the media attention given to matters concerning the peso exchange rate and inflation within Argentina. Whilst clearly and understandably these are matters of importance to the country, there are no current or envisaged material adverse changes to President's financial position or prospects. President agrees, sells and gets paid for its oil and gas monthly on the basis of a dollar value for which payment is receivable in pesos at the prevailing peso/dollar exchange rate calculated at the date the monthly monies are actually paid; for example, for oil production in the month of April from Puesto Flores, President received US$66.5/bbl converted to pesos at the time of payment for the oil. For the avoidance of doubt, President's Argentinian bank loan has its reference for both capital and interest in dollars. Such media attention has, to a certain degree, hidden last week's significant positive development in the Argentine Congress. This is particularly relevant to the ongoing preparations for the listing of the Company's shares on the Argentine Stock Market as, according to the Financial Times, approving a new capital markets law, should boost the chances of Argentina being promoted to emerging market status by the MSCI benchmark equity index in June.

Southmead 14 May 2018

Good Progress and busy summer ahead Now that is a very reassuring update.ARGENTINA UPDATE Seven well workover programme now commenced at Puesto Flores Long term gas test of three wells in Estancia Vieja to commence in June Three well drilling programme at Puesto Flores now to start September The good stuff to know is:-Argentina macro newsPresident notes the media attention given to matters concerning the peso exchange rate and inflation within Argentina. Whilst clearly and understandably these are matters of importance to the country, there are no current or envisaged material adverse changes to President's financial position or prospects. President agrees, sells and gets paid for its oil and gas monthly on the basis of a dollar value for which payment is receivable in pesos at the prevailing peso/dollar exchange rate calculated at the date the monthly monies are actually paid; for example, for oil production in the month of April from Puesto Flores, President received US$66.5/bbl converted to pesos at the time of payment for the oil. For the avoidance of doubt, President's Argentinian bank loan has its reference for both capital and interest in dollars. Such media attention has, to a certain degree, hidden last week's significant positive development in the Argentine Congress. This is particularly relevant to the ongoing preparations for the listing of the Company's shares on the Argentine Stock Market as, according to the Financial Times, approving a new capital markets law, should boost the chances of Argentina being promoted to emerging market status by the MSCI benchmark equity index in June.

Southmead 14 May 2018

Good Progress and busy summer ahead Now that is a very reassuring update.ARGENTINA UPDATE Seven well workover programme now commenced at Puesto Flores Long term gas test of three wells in Estancia Vieja to commence in June Three well drilling programme at Puesto Flores now to start September The good stuff to know is:-Argentina macro newsPresident notes the media attention given to matters concerning the peso exchange rate and inflation within Argentina. Whilst clearly and understandably these are matters of importance to the country, there are no current or envisaged material adverse changes to President's financial position or prospects. President agrees, sells and gets paid for its oil and gas monthly on the basis of a dollar value for which payment is receivable in pesos at the prevailing peso/dollar exchange rate calculated at the date the monthly monies are actually paid; for example, for oil production in the month of April from Puesto Flores, President received US$66.5/bbl converted to pesos at the time of payment for the oil. For the avoidance of doubt, President's Argentinian bank loan has its reference for both capital and interest in dollars. Such media attention has, to a certain degree, hidden last week's significant positive development in the Argentine Congress. This is particularly relevant to the ongoing preparations for the listing of the Company's shares on the Argentine Stock Market as, according to the Financial Times, approving a new capital markets law, should boost the chances of Argentina being promoted to emerging market status by the MSCI benchmark equity index in June.

Southmead 14 May 2018

Good Progress and busy summer ahead Now that is a very reassuring update.ARGENTINA UPDATE Seven well workover programme now commenced at Puesto Flores Long term gas test of three wells in Estancia Vieja to commence in June Three well drilling programme at Puesto Flores now to start September The good stuff to know is:-Argentina macro newsPresident notes the media attention given to matters concerning the peso exchange rate and inflation within Argentina. Whilst clearly and understandably these are matters of importance to the country, there are no current or envisaged material adverse changes to President's financial position or prospects. President agrees, sells and gets paid for its oil and gas monthly on the basis of a dollar value for which payment is receivable in pesos at the prevailing peso/dollar exchange rate calculated at the date the monthly monies are actually paid; for example, for oil production in the month of April from Puesto Flores, President received US$66.5/bbl converted to pesos at the time of payment for the oil. For the avoidance of doubt, President's Argentinian bank loan has its reference for both capital and interest in dollars. Such media attention has, to a certain degree, hidden last week's significant positive development in the Argentine Congress. This is particularly relevant to the ongoing preparations for the listing of the Company's shares on the Argentine Stock Market as, according to the Financial Times, approving a new capital markets law, should boost the chances of Argentina being promoted to emerging market status by the MSCI benchmark equity index in June.

Mister Ed 14 May 2018

Re: Argentina Interest Rates at 40% "President notes the media attention given to matters concerning the peso exchange rate and inflation within Argentina. Whilst clearly and understandably these are matters of importance to the country, there are no current or envisaged material adverse changes to President's financial position or prospects. President agrees, sells and gets paid for its oil and gas monthly on the basis of a dollar value for which payment is receivable in pesos at the prevailing peso/dollar exchange rate calculated at the date the monthly monies are actually paid; for example, for oil production in the month of April from Puesto Flores, President received US$66.5/bbl converted to pesos at the time of payment for the oil. For the avoidance of doubt, President's Argentinian bank loan has its reference for both capital and interest in dollars."

theprior 12 May 2018

Re: Argentina Interest Rates at 40% So far as I am aware the bulk of Ppc debt is with PL so no exposure to the temporary 40% local rates.Happy to be correctedTP

Nice to Michu 09 May 2018

Re: Argentina Interest Rates at 40% Short term pain for medium term - more than long term - gain imho. And the IMF loan they're soon likely to get signed off on is the cheapest way of raising money to invest towards get the economy moving strongly forward as quickly as possible.. and I see the Peso bounced off the back of this news.. I think we're witnessing Argentina driving its turn around as best/quickly as it can and I'm quietly confident it will be successful .. And PPC becomes a far more compelling medium term bet - aka Investment by some - in such a macro transformed situation imho.. That said, while I still like this stock I understand more that short term macro and micro sensitivities are making it harder for the s/p to go up PRESENTLY.... a real shame as by PoO prices it should be decently higher now imho.. so good news required from company asap to force s/p up in short term imho.. and that's hopefully successful workover news soon(ish), I guess. But I remain bored of this s/p remaining too low versus many others that are going up at least decently now.. annoying... and I'm sticking with my afore mentioned plan here..

poor_teacher 06 May 2018

Re: Argentina Interest Rates at 40% Your right when PPC is looking to spend in the region of 12 million in the next 2 qtr. it could have a significant effect.The 8 million pegged 7.5% above Libor is not looking as good as what it did a few months ago but is still below the 10.5% is was at. Maybe not for much longer, granted.The workovers are going to be key for me in terms of how much oil they can get out the ground.40% interest - short term pain for the long term gain as hopefully Macri forces those economic changes that if continued would likely make Argentina a much more attractive investment opportunity. Which if patient could be great for PPC and it’s share price, perhaps even more so with that secondary listing.Lots of maybe and possibly, still ready to get a few more if the price drops. Still a strong buy but I wouldn’t put the house on it.

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