What A Mess !
President Energy (LON:PPC), says the company will be dedicating most of its time in the first half of 2015 to the Hernandarias concession in Paraguay following news of a placing to raise £9.1mln. Levine, who also took part in the fundraise, explains what the cash will be used for and discusses the claims by Canadian partner Petro-Victory Energy that it has been granted injunctions relating to its other block in Paraguay, Pirity. President today said the funds are earmarked for a seismic exploration programme across Hernandarias, where the company intends to high-grade potential drilling targets ahead of a farm-out process, as well as for work in Argentina and for working capital.