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PPP Pennpetro Energy Plc

0.75
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Pennpetro Energy Investors - PPP

Pennpetro Energy Investors - PPP

Share Name Share Symbol Market Stock Type
Pennpetro Energy Plc PPP London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 0.75 08:00:00
Open Price Low Price High Price Close Price Previous Close
0.75 0.75 0.75 0.75
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Top Investor Posts

Top Posts
Posted at 11/12/2023 12:55 by purple11
Analyst CommentToday 11:54

Pennpetro Energy (PPPP.L, 2.2p, £2m) PPPP said that the (previously announced) workover rig for the Chalk Talk 4H well in Texas has arrived in the field. This is earlier than expected, meaning work can get underway sooner. Investors will be interested to see what impact the workover will have on flowrates. In a separate RNS, PPPP indicated that the (previously announced) farm-in to the UK Oil & Gas (UKOGA.L, 0.03p, £6m) Horse Hill oil field in the UK (once known as the Gatwick Gusher) has been extended to 30 June 2024, which gives PPPP more time to earn in through funding acquisition of new 3D seismic over the field and the cost of a new crestal infill well (HH-3). On completion of this well, PPPP will receive a 49% share of all production derived from HH-3 and future wells plus a 49% WI in the field. With PPPP having limited cash resources to spend outside of Texas, this extension will give them some time to generate some FCF from production to cover costs in UK. Planning permission for the seismic and well could still derail the timetable.
Posted at 05/12/2023 18:37 by z1co
Pennpetro Energy’s Chalk Talk Well in Texas Experiences Impressive Month of Production

ByManuel Alejandro De la Torre
DEC 5, 2023

Summary: Pennpetro Energy’s Chalk Talk Well in Texas has recorded an impressive month of oil and natural gas production. This has generated significant interest in the energy industry, as it demonstrates the potential of the Texas region for extracting energy resources.

The Chalk Talk Well, located in Texas and operated by Pennpetro Energy, has experienced a significant increase in production over the past month. Reports indicate a 20% increase in the extraction of oil and natural gas, which has generated palpable excitement in the energy industry. This news is a clear indication of the potential oil and natural gas reserves found in the Texas region and its viability as a major energy source in the future.


This impressive increase in production at the Chalk Talk Well has been made possible through investments in technology and advancements in extraction techniques. Pennpetro Energy has implemented new technologies that have allowed for more efficient and cost-effective extraction of energy resources. These industry innovations have led to a steady increase in production and have generated growing interest from both investors and companies in the sector.

The Chalk Talk Well is located in an area rich in high-quality oil and natural gas deposits. This has allowed Pennpetro Energy to achieve exceptional performance from its well, surpassing market expectations. The company has been able to maintain a consistent and reliable level of production, resulting in a positive impact on its earnings and the energy sector as a whole.

Frequently Asked Questions:

What is the Chalk Talk Well?

The Chalk Talk Well is an oil and natural gas extraction facility operated by Pennpetro Energy in Texas. It is located in an area rich in high-quality deposits and has demonstrated impressive production performance.

Why is the increase in production at the Chalk Talk Well important?

The increase in production at the Chalk Talk Well is important because it demonstrates the potential of the Texas region for oil and natural gas extraction. Additionally, it has a positive impact on the energy industry, generating jobs and increasing the availability of energy resources.


What technologies has Pennpetro Energy used to increase production at the Chalk Talk Well?

Pennpetro Energy has implemented new technologies at the Chalk Talk Well that have allowed for more efficient and cost-effective extraction of oil and natural gas. These technologies include hydraulic fracturing methods, real-time monitoring, and improvements in extraction logistics.
Posted at 24/11/2023 09:35 by z1co
Pennpetro Energy boosted by ‘excellent’ Texas well performance

Published: 08:57 21 Nov 2023


Pennpetro Energy PLC (LON:PPP) shares rose sharply in early deals, before cooling, as the company told investors that recently completed well optimization in Texas has boosted output.

Oil production from the Chalk Talk #1H well more than doubled in the past week of testing, with the rate rising to 248 barrels of oil per day (bopd) since Wednesday – up from 113 bopd in the prior week.

The well has been undergoing testing for 20 days and in that time has yielded a total of 3,184 bopd with the daily rate averaging 159 bopd over the test period.

"The results of the oil production from our CT1H well test are excellent,” said chief executive Tom Evans.

“We continue to optimize the performance of this well some 20 days into testing.

“We are still seeing a generally increasing trend in our daily oil production, which is certainly highly encouraging. Extended well testing continues."

In London, PennPetro shares changed hands at 1.97p, up 1% - having initially climbed to 2.15p in opening trade.
Posted at 08/6/2023 22:55 by clivee1
Gut feeling is that many US investors are buying back on PPP
Posted at 15/5/2022 13:19 by hedgehog 100
"The Calm Before The Storm In Oil Markets

By Tom Kool - May 03, 2022, 2:00 PM CDT

• U.S. Gulf of Mexico sees burst of drilling activity.
• Shale drillers focus on investor returns.
• Heatwave in India sends power demand soaring to unprecedented levels.

Join Our Community

The first week of May could have brought us a much-awaited paradigm shift, however the markets still appraise the impact of China’s COVID lockdowns amidst the mass-testing taking place in Beijing and the probability of a comprehensive European embargo on Russian oil. With no clear way out for either of those, Brent futures remained range bound, closing Tuesday around $106 per barrel. ...

- Whilst OPEC+ is widely expected to agree to another monthly increase of 432,000 b/d, the widening gap between the oil group’s stated objectives and reality is becoming too glaring to ignore.

- For March, the last month for which official OPEC+ data is available, the discrepancy added up to 1.45 million b/d and is set to only increase in April as Russia’s production went downhill.

- Africa has been a source of headache of its own, with Libya’s key infrastructure blockade trimming some 550,000 b/d from global supply, whilst Nigeria and Angola continue to slide lowed amidst force majeures and terminal declines.

- The IEA’s release of 240 million barrels over the next months and China’s demand falling by as much as 1 million b/d on the heels of its COVID lockdowns have both mitigated demand-side issues, however should demand bounce back in the summer, tightness could be worsening again. ..."
Posted at 04/5/2022 10:18 by hedgehog 100
16/03/2022 16:42 UK Regulatory (RNS & others) Pennpetro Energy PLC Placing and Broker Appointment LSE:PPP Pennpetro Energy Plc

"... Tom Evans, CEO of Pennpetro Energy plc, commented:

"We thank our existing shareholders and welcome our new investors to our ongoing development initiatives, as we simultaneously progress and complete our proposed farm-in agreement with Upland Resources. Shareholders can confidently look forward to an exciting and progressive series of developments in the near future." ..."




There could be great PPP newsflow in the near term on multiple fronts: Tunisia, the North Sea, mainland Britain, the USA, and the acquisition of a portfolio of green technologies to commercialise.

And PPP has a £20M. share subscription facility arranged and available (with warrants at 40p each).


In Q2 last year PPP nearly trebled from low to high: from 22.5p at the start of April, to 60p in mid June, on minimal news.

So an active period of exciting newsflow, in the current high oil-gas price environment, should easily see PPP move up very strongly from its current share price of just 28p.
Posted at 02/4/2022 16:57 by hedgehog 100
PPP looks very undervalued at just 27.5p, market cap. £22.95M. including the 30.3.22 CLNs conversion, ahead of what should be a period of very exciting newsflow from the company, on multiple fronts.

Here are a few key points:-
• Holding U.S. oil-gas operations attractive at sub-US$30/barrel oil prices, compared to the current price of over US$100/barrel.
- In a vast field 100% owned by PPP.
• Heads of terms just agreed to farm-in to a huge Tunisian gas project, with up to 15.2 trillion cubic feet gross potential in multiple targets.
- Payment was at a deemed 35p per PPP share, with a work programme to be carried out this year.
• £20M. share subscription facility arranged and available, with warrants at 40p each.
• Negotiating the acquisition of a portfolio of green technologies to commercialise.


02/06/2021 07:00 UK Regulatory (RNS & others) Pennpetro Energy PLC Shares Subscription Facility Agreement LSE:PPP Pennpetro Energy Plc

"Pennpetro Energy, an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, USA., is pleased to announce the execution of a three-year GBP20,000,000 Share Subscription Facility Agreement ("Facility") with GEM Global Yield LLC SCS, Luxembourg, and GEM Yield Bahamas Limited (GEM Global). The facility is available to use at the Company's discretion, subject to terms, for both general corporate purposes and the advancement of its petroleum development projects. Pennpetro Energy will control the timing and the maximum number of drawdowns under this facility and has no minimum drawdown obligation. In addition to the subscription of equity through the facility, the Company has agreed to the issuance of up to 12 million warrants at 40 pence each.

GEM is a US$3.4 billion alternative investment group with offices in New York, Paris, Nassau, and Los Angeles that manages a diverse set of investment vehicles, often preferring to partner with management teams and operators and together with them execute strategic plans and create value. GEM has completed over 435 transactions in 72 countries worldwide. ..."




30/09/2021 07:00 UK Regulatory (RNS & others) Pennpetro Energy PLC Results for the 6 months ended 30 June 2021 LSE:PPP Pennpetro Energy Plc

" ... Despite the challenges presented by Covid, over the past few months, we continued our negotiations for the acquisition of an exciting Intellectual Property portfolio within the green technologies sector. The technologies which have been developed from within the petroleum sector encompass the provision of Green Energy by the remediation of both petrochemical and industrial waste without any harmful emissions released into the atmosphere, truly embracing the ethos of alternative energy whilst protecting the environment, as well as providing the Company with the ESG green credentials. We have agreed to commercialise the technology through a separate associated enterprise to progress under the initiatives driven by both the UK and European authorities with regard to exceptionally strong aims in bringing ESG, sustainability and climate to the forefront of corporate development. The UK is the only global financial centre that is also a green finance hub, with major green platforms developed by the London Stock Exchange, leading the sustainable finance ecosytem. As we progress, we will update the market.

The period under review has been challenging due to a number of unprecedented factors. However, the Company is well placed to capitalise not only on the continued recovery of the US and global petroleum sectors, but on our pursuit of the most exciting green technologies. Our aim is to be an encompassing and responsible energy company. ...

Outlook

In line with our strategy, all our operations are in highly active plays where the economics of drilling and producing remain attractive at sub-US$30 oil prices. This highlights the success we have had in taking advantage of the prior industry downturn to accelerate the positioning of our South Texas leasehold position in favour of the Austin Chalk and Eagleford Shale. ...

We are confident in the future and I look forward to providing updates on our progress . ..."




16/03/2022 16:42 UK Regulatory (RNS & others) Pennpetro Energy PLC Placing and Broker Appointment LSE:PPP Pennpetro Energy Plc

"London, 16 March 2022 - F ollowing the announcement this morning of a proposed farm-in arrangement with Upland Resources Limited, Pennpetro, the independent oil and gas company, is pleased to announce the successful completion of a placing (the "Placing"), arranged by the Company's broker Peterhouse Capital Limited ("Peterhouse"), to raise GBP350,000 before expenses, via the issue of 1,166,667 new ordinary shares (the "Placing Shares") at a price of 30p per share.

Pennpetro is also pleased to announce the appointment of Peterhouse as broker to the Company with immediate effect.

Application will be made for admission of the Placing Shares to the standard listing segment of the Official List and for admission to trading on the London Stock Exchange's Main Market for listed securities. It is expected that admission will take place at 8.00am on 21 March 2022 and that dealings in such shares will commence at the same time. ...

Tom Evans, CEO of Pennpetro Energy plc, commented:

"We thank our existing shareholders and welcome our new investors to our ongoing development initiatives, as we simultaneously progress and complete our proposed farm-in agreement with Upland Resources. Shareholders can confidently look forward to an exciting and progressive series of developments in the near future." ..."
Posted at 04/6/2021 12:19 by city analyst1
Spurred by rising fuel demand across the globe, as world economies emerge from the COVID pandemic inactivity, oil prices surged further this morning.

Brent crude climbed 0.5% to $71.60 per barrel, while West Texas Intermediate gained 0.30% to $69.15 per barrel.

As a result of these developments, private investors would be wise to note the following about under-the-radar, junior oiler, Pennpetro Energy (LON:PPP)

As one of only a few US-focused oil and gas plays listed on the LSE, Pennpetro Energy has finally began producing oil from its vast, 100% owned, Gonzales Oil Field (Texas, USA) acreage via the Buda Limestone formation, which we now understand is projected to materially increase the company’s proved oil reserves in the forthcoming CPR.

However, here’s the real kicker…

At today’s value of WTI ($69.15), the company stands to receive a premium of approximately US$33.04 per barrel for Gonzales crude oil deliveries. An absolutely staggering margin that is not remotely reflected in the current share price.

For those new to Pennpetro, the company’s stated breakeven oil price is a WTI $33.04 per barrel.

Currently, the company is planning a couple of drills for the end of July before re-entering the Austin Chalk formation of the COG#1 well which flowed oil, with a view to placing that formation on full production. All this will be in addition to the Buda productive formation from which the company has already produced first oil and is now actively selling into the market.

And the entry of City heavyweight Andy Clifford (head honcho) at this point of the company’s growth is a clear statement of intent.

Andy is a seasoned oil and gas executive credited with the discovery of over 2bn barrels of oil (of reserves worldwide), having worked for ExxonMobil, Kuwait Foreign Petroleum, and BHP Billiton. More importantly, he’s rung the bell at NYSE, a somewhat momentous achievement in the US, and has been the recipient of the Oil and Gas Investors prestigious Turnaround of the Year Award in 2010.

Separately, and as recently stated in its operational update, the company is exploring the acquisition of an Intellectual Property portfolio within the green technologies sector. The technologies encompass the provision of green energy by the remediation of both petrochemical and industrial waste. Another sensible use of capital.

From a financial viewpoint, the company appears to be in rude health.

Back in 2020, £2,059,202 of the company’s debt was converted into equity at a price of 50 pence per share by RB Equity who’ve decided to become investors in the stock and currently hold a 5.39% stake in the business.

In addition to the above, the company has recently signed a 3yr, £20m ($28m) Share Subscription Agreement with the multibillion-dollar investment house GEM Global who are attracted to the company’s materially undervalued assets. It is envisaged that, over the next 18 months, GEM will become a significant investor in Pennpetro Energy assuming, of course, it doesn’t decide to snap-up the entire business.

Reading between the lines however, Clifford’s entry alongside the signing of the £20m funding line means that, the company is likely to commence acquiring leases in active and producing US onshore plays and proving up the reserves by drilling new wells. This has always been part of their strategy. So they now have the cash and the brains to deliver significant shareholder value.

More importantly, the most recent CPR (prepared in 2017 by William W. Jackson, and using an average oil price of WTI $55 per barrel) estimated that the Group's Net Revenue Interest (NRI) in the Gonzales petroleum leases, based on a 50% WI, amounted to $62m. However, with the recent increase to a 100% WI, this has now increased to over $124m (or £87.31m)!

Thus, at 43pence per share (£29m), and less the current asset value (at WTI $69), means the stock is materially undervalued and, subsequently, profoundly mispriced.

In essence, the share price would need to treble from today's low to achieve anything close to a meaningful valuation for an oil explorer and producer.

And by way of comparison, the average P/E ratio of the oil and gas drilling sector is currently 17.31.

Remember, the uber-savvy RB Equity hedge fund considered 50pence per share an absolute bargain when they converted their loan into a 5.39% stake (4,118,404 shares). And it was, and still is, a stonking bargain! In fact, anything below 121pence per share is an absolute steal in the current oil price environment.

Also, it's worth noting that, 89.11% of the shares are in private hands. So very 'sticky'. A number of blue-chip investors on the register.

All IMHO.

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