PRESIDENT ENERGY : Peter Levine, CEO and Chairman, sums up President as ‘a growth business on income, profitability and cash’. It is looking to double production from the current 2400 bopd organically and by way of acquisition in Argentina ‘in the not too distant future’. Industry veteran Peter Levine is both CEO and Chairman, and he has put $50 million of his own money into this oil & gas production and exploration business.
It is already producing and profitable in Argentina and Louisiana, exploring newly bought assets in Argentina and exploring in Paraguay. President is backed by the World Bank, Schroders and JP Morgan as well as Peter, and has just raised a further £6.67 million from private investors and increased liquidity. This money will go towards accelerating the work programme on it’s latest acquisition at Puesto Flores and Estancia Vieja, which added 1,200 bopd and takes current Argentinian production to over 2000 bopd.
There are ‘multiple opportunities to grow the Concession to 3,000 bopd’ Peter told London South East. Malcy Graham-Wood said in his daily blog on 03.11.2017: ‘The [President] assets have significant value, and the shares are still very much undervalued’.
Please also see London South East Shareviews on Core Finance here.