President Energy spuds development well at Puesto Flores field, in Argentina


LEEDS, UK -- President Energy, the upstream oil and gas company with a diverse portfolio of production and exploration assets focused primarily in Argentina, confirms that the PFE 1001 development well has now spudded at the Puesto Flores/Estancia Vieja Concession in Rio Negro Province, Argentina (President 90% and operator - EDHIPSA 10%).

This is the second well in the three well program and is expected to take some 21 days to drill to target depth. Subject to success, the well will then be completed which is projected to take a further 10 days.

Completion work on the successful PFO 1001 is expected to take place and put on stream by the end of the drilling of PFE 1001.

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