President Energy PLC HSE Update on Puesto Flores Facility (6870V)
August 11 2022 - 2:00AM
UK Regulatory
TIDMPPC
RNS Number : 6870V
President Energy PLC
11 August 2022
11 August 2022
PRESIDENT ENERGY PLC
("President" or the "Company")
HSE Update on Puesto Flores Facility, Rio Negro
President Energy (AIM: PPC), the international energy company
provides an HSE update on its assets in Puesto Flores Concession,
Rio Negro Province, Argentina
At 10:25 a.m. on 10 August 2022, President's battery in its
Puesto Flores facility, Rio Negro experienced a fire breakout,
limited to the area containing the separator units, which was
controlled and extinguished immediately. Full HSE protocols were
activated, and there were no injuries to personnel. Despite minor
damage, the tank and storage areas were not affected. President
immediately launched an investigation to identify the causes of the
incident with the intention to restart the plant without delay.
Peter Levine, Chairman, commented:
"We would like to greatly commend the efficiency with which our
staff implemented the Company's HSE policy and training to contain
and extinguish the fire without the slightest delay. No injuries
were suffered and there were no material oil losses. Oil production
capability from the wells is totally unaffected."
Contact:
President Energy PLC +44 (0) 207 016 7950
Nikita Levine, Investor Relations info@presidentpc.com
finnCap (Nominated Advisor and
broker)
Christopher Raggett, Tim Harper +44 (0) 207 220 0500
Tavistock (Financial PR and IR)
Simon Hudson, Rebecca Hislaire,
Charles Baister +44 (0) 20 7920 3150
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 as it forms part of
UK Domestic Law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR"). The person who arranged for the release of this
announcement on behalf of the Company was Peter Levine,
Chairman.
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, and
Angostura exploration contract, all of which are situated in the
Río 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.
It has also a 27.9% investment interest in Atome Energy PLC a
green hydrogen and ammonia producer whose shares are traded on AIM
of the London Stock Exchange.
With a strong strategic and institutional base of support,
including the international commodity trader and logistics company
Trafigura, an in-country management team as well as the Chairman
whose interests as the largest shareholder are aligned to those of
its shareholders, President Energy gives UK investors access to an
energy growth story combined with world class standards of
corporate governance, environmental and social responsibility.
-ends-
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END
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