President seeks to capitalise on price rises

The AIM-listed producer is looking to progress an exploration project and secure a farm-out

Latin America-focused UK independent President Energy is assessing plans to revisit a deep gas prospect at the Martinez del Tineo field in the Salta province in northwestern Argentina. The firm hopes to take advantage of significant infrastructure already in place from its five oil-producing fields in the area. The prospect is located in the Puesto Guardian concession, in which President holds a 100pc stake. It attempted a farm-out of the prospect as far back as 2016, citing unfavourable market conditions. In the intervening years, however, domestic gas prices have increased by 50pc, to nearly $4/mn Btu. The prospect has a target depth of 4,200m and is close to the Santa Barbara Mountains, w