StockMarketWire.com - Oil company President Energy said it expected a new oil treatment plant in the Rio Negro province of Argentina to reach full operational capacity by the end of July.

The plant, at the Puesto Flores field, was already partially in service.

The company also said the first of three new firm oil wells at Puesto Guardian, Salta Province was expected to be spudded on time in the first half of October.

The second and third wells would be drilled back-to-back through the fourth quarter of 2021.

President Energy also said a farm-out process for assets in Paraguay was awaiting regulatory approvals, currently expected before the end of the current quarter.

In the meantime, negotiations regarding long-lead items and a drilling rig were in progress with various site visits having taken place.




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