President announces the acquisition of the entire issued share capital of LCH SA (LCH), a Paraguayan company which has a carried 5% Participating Interest in the Pirity Concession, where President holds a 59% beneficial working interest.

As a result of the acquisition, President will, through its Group of Companies, own 64% of the Pirity Concession. The 5% interest is being carried by Pirity Hidrocarburos (President's partner in the Concession) as part of a 2012 written agreement prior to President's entry into the Concession.

Tags: President Energy