Most sports fans can probably identify with the rollercoaster experience faced by investors who back exploration-orientated juniors in the oil sector.


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Disappointment tends to follow disappointment but occasionally your team experiences glory.

In this sense, English Premier League team Leeds United and President Energy are a good match, not least because they both hail from the gritty English county of Yorkshire.

Leeds United have already tasted glory days as one of England’s most successful clubs in the 1970s, also enjoying more good times in the late 1990s.

But mismanagement resulted in the club entering a cycle of decline that led to a double relegation and near-collapse.

The man credited with bringing the club back to the Premier League stage is Marcelo Bielsa, a maverick Argentine coach seen by some soccer purists as one of the best in the world, although prone to eccentricities.

One of Bielsa’s trademarks is the pitch-side plastic bucket, upon which he squats at match time.

Led by Yorkshire businessman Peter Levine, President Energy had the bright idea of sponsoring the famous bucket.

Leeds have not yet started winning trophies again under Bielsa, but their games are almost without exception peppered with goals and exciting play.

President Energy’s blue bucket is constantly on display as the cameras watch Bielsa’s every move.

Argentina is also never far away from Levine’s mind. President Energy is gearing up for a new drilling programme in the northern Patagonian province of Rio Negro, in the heart of Argentina’s wine-growing region.

Like all oil and gas companies, President has seen turnover tumble in recent times.

But with the southern hemisphere winter approaching and the Buenos Aires government offering new price support at the wellhead for natural gas, things may get better soon.

President Energy also has a swathe of frontier acreage in Paraguay’s Pirity sub-basin, covering 24,000 square kilometres in an areas that has attracted little exploration so far.

Initial drilling efforts have resulted only in technical discoveries, but a new approach will be taken later this year, tackling a prospect called Imperial.

For President Energy, as with Leeds United, bigger prizes are still a mirage on the horizon for the time being, but an unorthodox approach could yet bring rewards.