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President Energy (AIM: PPC), the energy company with a diverse portfolio of production and exploration assets currently focused primarily in South America announces an unaudited 2020 trading review and a 2021 outlook.
2020 Trading · Turnover of approximately US$28 million, a reduction of 32% year on year driven primarily by average oil price realisations falling 33% to US$37 per barrel · Average net Group production up 12% year on year to over 2,700 boepd · December average net Group production of circa 3,300 boepd demonstrating the early impact of the new wells drilled in late Q4 · Over US$10 million of free cash generation from operations (after workovers) and treasury income ....