TIDMPPC

RNS Number : 0647X

President Energy PLC

17 December 2019

17 December 2019

PRESIDENT ENERGY PLC

("President", "the Company" or "the Group")

President Energy (AIM: PPC), the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, comments on recent share price activity.

President notes the recent decline in its share price being a nearly 35% reduction since 1 November 2019 alone , being the date of the last trading update issued by the Company.

There are no materially adverse changes in President's trading, business or prospects since that time whether micro or macro. In fact there have been improvements in all key performance indicators. Since that time, inter alia, the receivable oil price has made positive progress and President has increased its production by acquisition of the Angostura asset.

Accordingly President views such decline as purely market driven and not driven by any fundamentals relating to the Company .

Contact:

 
 
   President Energy PLC 
   Peter Levine, Chairman 
   Rob Shepherd, Group FD                   +44 (0) 207 016 7950 
 finnCap (Nominated Advisor) 
  Christopher Raggett, Scott Mathieson      +44 (0) 207 220 0500 
 
   Whitman Howard ( Broker) 
   Hugh Rich, Grant Barker                  +44 (0) 207 659 1234 
 Tavistock (Financial PR) 
  Nick Elwes, Simon Hudson                  +44 (0) 207 920 3150

Notes to Editors

President Energy is an oil and gas company listed on the AIM market of the London Stock Exchange (PPC.L) primarily focused in Argentina, with a diverse portfolio of operated onshore producing and exploration assets.

The Company has operated interests in the Puesto Flores, Estancia Vieja, Puesto Prado and Las Bases Concessions, the Angostura Exploration Block , Rio Negro Province in the Neuquén Basin of Argentina and in the Puesto Guardian Concession, in the Noroeste Basin in NW Argentina. Alongside this, President Energy has cash generative production assets in Louisiana, USA and further significant exploration and development opportunities through its acreage in Paraguay and Argentina.

The Group is also actively pursuing value accretive acquisitions of high-quality production and development assets in Argentina capable of delivering positive cash flows and shareholder returns. With a strong institutional base of support, including the IFC, part of the World Bank Group, an in-country management team as well as a Board whose interests are aligned to those of its shareholders, President Energy gives UK investors rare access to the Argentinian growth story combined with world class standards of corporate governance, environmental and social responsibility.

This announcement contains inside information for the purposes of article 7 of Regulation 596/2014

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

SPMEAEAKFENNFAF

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December 17, 2019 02:00 ET (07:00 GMT)

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