HSE Update on Puesto Flores Facility
11/08/2022 07:00
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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) +44 (0) 207 220 0500
Christopher Raggett, Tim Harper
+44 (0) 20 7920 3150
Tavistock (Financial PR and IR)
Simon Hudson, Rebecca Hislaire, Charles Baister
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.
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