• 3 minutes China's aggression is changing the nature of sovereignty.
  • 8 minutes Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 11 minutes Europe gas market -how it started how its going
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 38 mins The Fascist Dictatorship called Russia under Dictator for Life Putin
  • 1 hour Russia, Ukraine and "2022: The Year Ahead"
  • 2 days January 23rd - Washington D.C. and Brussels - Demonstrations Against Tyranny
  • 6 hours Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 1 day Energy Storage Could Emerge As The Hottest Market Of 2022
  • 1 day "Tackling One Of The Fracking Industry’s Biggest Problems" by Robert Rapier
  • 16 hours NordStream2
  • 18 hours Following the Big Money
Editorial Dept

Editorial Dept

More Info

Paraguay: Positioned for the Long Game, 2 Picks

Looking six months to a year down the road, there are two companies we’re watching closely because we think they’re about to hit pay oil in Paraguay. They’ve honed in on this unexplored, onshore gem that looks set to join the Latin American big boys club and become and a net exporter.

The first is UK-based President Energy LLC (PPC), which has a majority stake in some major acreage (16,000 sq km) in the Chaco region, and is estimating that its holdings could have up to 159 million barrels of gross risked recoverable resources. This alone could be enough to turn Paraguay into a net fuel exporter, and President is banking on the proximity of its acreage to similar holdings it has in Argentina. For now, President is focused on Paraguay’s conventional potential, but it won’t ignore the unconventional if it happens upon some shale in the process.

We expect the most from President next year: That’s when the company predicts it will produce its first oil in Paraguay. In 2014, President Energy plans to drill six wells and invest $92 million on seismic studies and drilling. The company began seismic tests in December 2012—the first seismic testing in Paraguay since 1987.

Specifically, President Energy’s acreage includes:

•    Pirity Block, which it operates with a 59% stake in partnership with PetroVictory
•    Demattei Block, which it operates with a 60% stake in…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News