Argentina/Paraguay: President Energy announces operations and corporate update
26 May 2021
AIM-listed
President Energy, the energy company with a diverse portfolio of production and exploration assets focused primarily in South America, has provided an update with regard to operational activities and corporate matters.
Highlights
New gas well EV-1002 successfully completed, tested at over 100,000 m3/d (3.53 MMsft/d or 580 bopd) with excellent pressure and now on stream with production from both new wells EV-1001 and EV-1002 building
Aggregate current production from the new EV wells together with the new well LB-1002 is expected to be approx. in line with pre-drill projections at approximately 170,000 m3/d (6 MMscft/d or 1,000 bopd) being the equivalent of 6,000 MMBtu
PureTech Health lifted after associate receives funding for its digital therapeutics product
A look at the major movers on the London market on Wednesday
It has been a busy day in the healthcare world.
Vectura Group PLC (LON:VEC) has jumped 32.79% to 162p after the company, which is developing an inhaled treatment for COVID-19, backed a £958mln or 155p a share takeover offer from private equity group Carlyle.
Meanwhile Spire Heatlhcare Group (LON:SPI) is being bought by Australia s Ramsay Health Care Ltd (ASX:RHC) for £999mln or 240p a share. The private hospital group has added 26.17% to 243.5p.
Mediclinic PLC (LON:MDC), which holds a 29.9% interest in Spire, said it would vote in favour of the offer. With Mediclinic also reporting full year results which showed revenues down 3% and earnings down 21% but forecasting growth this year, its shares are up 6.29% at 327.8p.
PureTech Health PLC lifted after associate receives funding for its digital therapeutics product proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.