President's 2014 drilling campaign marks a huge achievement, having unequivocally demonstrated the presence of previously unknown Paleozoic hydrocarbon bearing formations in the Pirity Basin of the Paraguayan Chaco.

This is a critical first step in value creation for President shareholders, the government of Paraguay and other stakeholders.

President considers it has discovered two separate reservoirs (Santa Rosa and Icla) which, when combined with the source rock evidence at Jacaranda, substantially de-risks its Paraguayan assets.

Tags: President Energy