President Energy welcomes new director

(MENAFN- ProactiveInvestors)South America focused President Energy (LON:PPC) said Robert (Rob) James Shepherd is to join the board as an independent non-executive director with immediate effect.   The 48 year old is a former vice president for Emerging Markets Oil & Gas at ABN-Amro and former director at Imperial Energy.   He was finance chief at Dominion Petroleum and former chief executive of Azonto Petroleum.   Earlier this month the AIM group identified some 302mln barrels of prospective oil resources in Boqueron its largest exploration target on the Hernandarias block Paraguay.   The same prospect if it is found to be gas or condensate rather than oil is estimated to host 559bn cubic feet of gas and 17mln barrels of condensate. Boqueron is seen by President to have a chance of exploration success of 22%.   President shares are today down 6.51% to 7.40p.