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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pennpetro Energy Plc | PPP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 2.65 | 38.13% | 9.60 | 16:28:43 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 7.25 | 7.00 | 10.65 | 9.60 | 6.95 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 26/7/2024 10:01 by talais Horse Hill Farmin UpdateLondon, 11 December 2023 - Pennpetro Energy PLC (LSE: PPP) announces that it has agreed to extend the binding Horse Hill farm-in term sheet ("Agreement") with UKOG (137/246) Ltd and Horse Hill Developments Ltd ("HHDL"), both subsidiaries of UK Oil & Gas plc (collectively "UKOG") until 30 June 2024.The Horse Hill Oil Field ("Horse Hill"), located about 2 km north of Gatwick airport.The Agreement, as originally announced on 28 March 2023, enables PPP to farm-in to the Horse Hill Oil Field on an incremental production only basis via funding 100% of the acquisition of a twelve square km 3D seismic survey and the drilling of the next crestal infill production well, designated as HH-3.The Agreement's binding farm-in terms, which are subject to certain conditions as outlined below, cover the drilling of a new crestal infill well, designated Horse Hill-3 ("HH-3"), to be spudded after the completion of a Pennpetro funded high-definition 3D seismic survey. On completion of HH-3, Pennpetro will receive a 49% share of all production derived from Horse Hill-3 and future wells plus a 49% interest in the Licences. UKOG's subsidiaries will retain their current interests in all oil production from Horse Hill-1 ("HH-1") and HHDL will remain as the named Licence operator.Tom Evans, PPP's Chief Executive commented: "I'm very pleased to announce that our agreement with UKOG on the potential Horse Hill seismic and drilling farmin has been extended to 30 June 2024. Horse Hill is an exciting project and it could prove to be a very exciting venture for Pennpetro. |
Posted at 24/7/2024 09:49 by firestorm911 My friends, fans and followersMy unhinged stalker, MadnificientMong, loves to go into F911's posts daily. It tends to be the reverse. When F911 sold all his good shs on PPP 3.60p, IT bought it. Then F911 bought again in the lows, IT then sold ITs share at 2.40p and also reversed. All I will say PPP is a good shs, as it has risen from 0.70p and it's 3.20p to buy. The buy buy-buy-buy switch was on from the lows. Please ignore the jealous spazz losers. Enjoy !! Regards, F911 RMC |
Posted at 24/7/2024 08:55 by purple11 8p for a 12% share?in your dreamsthese wells only produce 50bopd so even if they drill 10 wells ,which they definetly WON'T,PPPs share is only 50bopd that aint gonna get you anywhere near an 8m cap valuation. reality is PPP had dire drilling results on this acerage and ran out of dough a numpty company then stepped in and took the asset giving PPP a 12/5% royalty because this was a better option for them than having to stump up any real money for the asset. |
Posted at 22/7/2024 22:47 by deltalo Why would they dilute when Globalvision are buying all the shares in Pennpetro,s subsidiary in Texas Nobel USA. Please explain why!!London, 17 July, 2024 - Pennpetro Energy PLC (LSE: PPP), has now signed a very significant and transformative deal Heads of Terms ("HOT") with Globalvision International U. LDA ("Globalvision") , an energy trading business based in Madeira, whereby they will buy all of the shares in Pennpetro's subsidiary in Texas Nobel USA Inc ("Nobel") in exchange for a life of asset currently estimated at around 30 years oil sales revenues through a 12.5% Overriding Royalty Interest ("ORI") on the Texan oil wells - City of Gonzales #1 well, Chalk Talk #1 well, Chalk Talk #4 well and Whistling Straits #5 well in Gonzales and a 10% profit share on any other wells drilled or developed within PPP's 2,036 acres in Texas. |
Posted at 22/7/2024 16:04 by deltalo Pennpetro Energy PLC Excellent Oil Production Statistics in TexasSource: UK RegulatoryTIDMPPPRNS Number : 4823VPennpetro Energy PLC04 December 2023Pennpetro Energy PLC("PPP" or "Pennpetro")Excellen |
Posted at 22/7/2024 15:25 by bad gateway Just catching up, quite a bit to read but this comment..Jungmana 22 Jul '24 - 08:09 - 623 of 657 0 0 1 PPP now gets 12.5% of whatever the production is . Say they drill 10 wells this year and produce 700 bopd total , PPP gets 12.5% Should be noted that PPP only get 12.5% of the four workovers. Any further wells drilled they only get 10% of "profits" so presume Global take out drilling costs etc first which actually seems fair enough. |
Posted at 22/7/2024 08:09 by jungmana PPP now gets 12.5% of whatever the production is . Say they drill 10 wells this year and produce 700 bopd total , PPP gets 12.5% |
Posted at 22/7/2024 07:04 by pirates4 News out..?MenuMarket & Company NewsGlobalvision Drilling Contractor Texas Oil Wells22 July 2024, 07:00Source - LSE Regulatory?RNS Number : 1841XPennpetro Energy PLC22 July 2024 Pennpetro Energy PLC("PPP" or "Pennpetro") Globalv |
Posted at 18/7/2024 03:39 by iceagefarmer David Lenigas@DavidLenigas · 13h This Pennpetro Texas #oil revenue deal just announced is amazing for a company with not much more than 100 million shares on issue. I’m seriously enthusiastic about the Texas #Lithium and #gas JV deal. That’s damn exciting. @pennpetro #PPP Quote David Lenigas @DavidLenigas · 13h Very big and transformational #oil revenue deal just announced by @pennpetro |
Posted at 17/7/2024 14:56 by firestorm911 Pennpetro Energy PLC("PPP" or "Pennpetro") Significant Revenue Deal Signed on Texas Oil Assets and 50/50 Texas Lithium and Gas Joint Venture London, 17 July, 2024 - Pennpetro Energy PLC (LSE: PPP), has now signed a very significant and transformative deal Heads of Terms ("HOT") with Globalvision International U. LDA ("Globalvision") , an energy trading business based in Madeira, whereby they will buy all of the shares in Pennpetro's subsidiary in Texas Nobel USA Inc ("Nobel") in exchange for a life of asset currently estimated at around 30 years oil sales revenues through a 12.5% Overriding Royalty Interest ("ORI") on the Texan oil wells - City of Gonzales #1 well, Chalk Talk #1 well, Chalk Talk #4 well and Whistling Straits #5 well in Gonzales and a 10% profit share on any other wells drilled or developed within PPP's 2,036 acres in Texas. In addition, Globalvision will take over all creditors that existed in Texas leaving Pennpetro completely free of any financial obligations associated with Texas. Very importantly on the lithium and gas front, the HOT sets out an arrangements with Globalvision to acquire 50% of Nobel Petroleum LLC ("NPLLC") for a 50/50 Joint Venture ("JV") where the parties seek to assess the scope for developing gas production from the AMI with ESGY Energy Inc ("ESGY"), and also importantly to assess the potential to produce lithium from any well in the AMI over the life of the project term. Pennpetro announced the ESGY transaction on November 2022, when it signed a Heads of Terms ("HoT") agreement with ESGY for a proposed petroleum joint venture covering multiple counties in East Texas. Pennpetro's Nobel would enter into a Joint Venture and Standard-Form Joint Operating Agreement with ESGY pursuant to which Nobel will be responsible for up to 75% of the cost to drill and complete two exploration wells ("Commitment Wells") to a depth sufficient to test certain shallow gas seismic prospects for early production. Nobel would be appointed as the Operator and will carry ESGY for 12.5% working interest of the cost to drill and complete each well to the tanks and ESGY will have the right to back-in for a further 12.5% working interest after Nobel fully recovers its expenditures. Nobel will select the Commitment Wells from ESGY's inventory of more than 300 shallow gas prospects, further defined as those seismic anomalies identified from a major Exxon 2-D seismic dataset in the north Houston salt dome and adjoining counties of Texas, as well as Rapides Parish and adjoining parishes of Louisiana. Nobel will further select an additional twenty-eight shallow gas prospects ("Highgraded Prospects") in which Nobel will be granted a Right of First Refusal ("ROFR") by ESGY. Upon fulfilling its obligations by the drilling of the Commitment Wells, Nobel will have earned the Right of First Refusal ("ROFR") with respect to the Highgraded Prospects and an additional right to participate in other like prospects, under the same participation terms as the Commitment Wells, within the East Texas Shallow Gas Play Area on the same terms and conditions as agreed between the parties relative to the first thirty prospects. Both parties are aiming to complete the transaction by month end (subject to completion of formal documention) with Globalvision planning to start optimisation works on the oil wells associated with the 12.5% ORRI to commence at the beginning of August with oil production to commence within the coming months. |
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