President Petroleum impresses in Argentina
President Petroleum says it has identified a new oil find at its Pozo Escondido field in Argentina.
President Petroleum says it has identified a new oil find at its Pozo Escondido field in Argentina.
A recent well (named PEE-1001) appears to have located 28 metres of net pay oil at a depth of 3,420 metres.
The company also says that, following a "petrophysical review", it thinks it might be able to re-enter old wells drilled 30 years ago at the site, realising an additional 50 million barrels for its reserves estimate.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The current "reserves in place" figure for the site is 20 million barrels, giving some sense of the importance of the new research.
The news sent President shares up 18% by 11:45. Over the last year the stock has fallen 49%.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyers
Rachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?
Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap