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.
-
The worst London boroughs to sell a second home as investors face £16k capital gains tax bill
Property investors selling up in London are benefiting from a decade’s worth of house price rises, but for many it’s resulting in higher capital gains tax bills
-
UK to have highest inflation among advanced economies this year and next, says IMF
The International Monetary Fund (IMF) says it expects inflation to remain high in the UK, while lowering economic growth forecasts for 2026.