Sponsors of Leeds United know the drill in Argentina

President is registered in Leeds and is one of the main sponsors of Premier League club, Leeds United, although its operations are focused on Latin America.

The energy firm is also the sponsor of the bucket and the press conferences of Marcelo Bielsa, the head coach of Leeds United.

Mr Bielsa and his trademark bucket have become a familiar sight during Leeds games.

President is led by well-known Yorkshire businessman Peter Levine, the former CEO of Thirsk-based Severfield, who has a substantial stake in the energy firm.

The four wells should be completed and on production in time for the commencement of the winter gas prices that start in May

Analyst Craig Howie at Shore Capital said: "President has released an update confirming a four well committed drilling programme to commence by the end of March in Rio Negro Province.

"Three of these wells will target the proven Centenario formation at Las Bases and are expected to cost $1.3m each (with a drilling time of approximately 14 days per well). Budgeted costs for these Centenario wells include a mini hydraulic stimulation,subject to logging results."