Edison Investment Research - President Energy (PPC) Exploration watch: 2019 exploration wells

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Edison Investment Research

Elaine Reynolds

Exploration watch: 2019 exploration wells

Worldwide exploration continued to be dominated by ExxonMobilâ€™s ongoing success offshore Guyana, with five discovery wells and the opening up of two new plays. In 2019, this activity will continue, but will be joined by two separate efforts led by Tullow Oil and Repsol that will look to extend this success to the inboard Orinduik and Kanuku blocks. In Latin America attention will also be focused on Mexico, as drilling extends into deeper waters alongside further exploration of the shallower Sureste Basin. In the North Sea, potential high-impact wells in the Barents Sea and West of Shetland were deferred into 2019 and activity looks set to increase in these areas this year. Onshore, we look at high-impact wells in the Nanushuk trend of Alaskaâ€™s North Slope and the frontier region of Western Mongolia.

29/01/2019 12 EN

Underlying

President Energy

President Energy is an independent, international oil and gas exploration and production company focused on South America. Co. is focused on oil and gas exploration, development and production and the sale of hydrocarbons and related activities. Co. has oil and gas production in two geographical markets: the U.S. and Argentina. Co. has exploration assets in Paraguay, Argentina, and the U.S. As at Dec 31 2016, Co.'s total proved and probable net reserves were 20.27 billion barrels of oil equivalent.

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GB00B3DDP128 London Stock Exchange United Kingdom

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Elaine Reynolds

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Exploration watch: 2019 exploration wells

President Energy - Maximising value from conventional assets

President Energy - Argentina â€“ material growth continues

discoverIE Group - FY24 EPS in line; good margin progress

Ultimovacs - Steadfast commitment to UV1 progression

OSE Immunotherapeutics - AbbVie deal clears antitrust hurdle

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