- President Energy said it had started drilling the first of three new wells at the Puesto Flores prospect in Rio Negro province, Argentina.

All three wells, including the first, called PFO 1001, were each expected to take around 21 days to drill.

They were anticipated to be on stream before the end of the year, with the campaign expected to add an extra 600 barrels of oil per day to 2018 field production.

The wells were expected to cost a combined $10m, with a payback of 12 months.

At 1:49pm: [LON:PPC] President Energy Plc share price was 0p at 8.6p

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