Pennpetro Energy Share Discussion Threads

[z1co] 21/1/2024 09:15

Hi purple

Has Lenigan tweeted lately about CT4H ?

[wrtmf] 17/1/2024 20:29

another sales payment in 3 days

[purple11] 14/1/2024 11:49

if the next well comes in ppl will think theyre all going to come in and there will be a rush on the stock.

fasten your seatbelts.....

[z1co] 10/1/2024 10:27

That 150,000 trade @ 2.16p was also a BUY and has upped buying to 2.2225p

[purple11] 10/1/2024 09:58

theres the 448k buy just before 9am that kicked her up......

followed promptly by another 500k buy

people are taking positions gl

[z1co] 10/1/2024 09:10

purple

You must be PPP's lucky omen.

Shares are UP again today must be background buying.There was a delayed 500,000 buy yesterday morning as well.

[purple11] 10/1/2024 09:01

nice move up

now back to business....

[z1co] 09/1/2024 10:38

Shares beginning to rise again before the next update.

500,000 buy at full offer of 2.10p and 250,000 buy @ 2.07p.

[z1co] 07/1/2024 10:41

wrtmf

I'm quite sure they will get these workovers completed as soon as possible.

We are due another update and hopefully one will be provided this week.

Also the AGM is on this Thursady 11/01/2023.

[z1co] 07/1/2024 10:00

Like i have already posted above the company will start to generate substantial cash flow from all the wells they will complete this year.

The company started producing oil from CT1H in November and was paid for the 1st months oil sold on 20th December which was gross US$329,658 and net US$255,032.

This month they will receive another payment on 20th January for all the oil sold in December.

Two more workovers will be completed after CT4H bringing the total to 4 wells.By end of 2024 they will have a good few more wells producing and generating revenues in excess of $1 million per month and becoming cash flow positive , not bad at all for a company which is only valued at £2m

[z1co] 07/1/2024 09:47

I'm sure eightwonder is a fake id of gofogold1

[goforgold1] 07/1/2024 09:42

In the six months ended 30 September 2023, the Company made an operating loss of US$ 1,191,601 (30 June 2022: US$250,000)

[eigthwonder] 07/1/2024 09:30

But let's face it....there should be a wealth warning with anything associated with Lenigas

[z1co] 06/1/2024 15:46

goforgold

Two wells are already producing and with 2 more workovers ( CT3H & COG1 ) to come , by the end of February the company will have at least 4 producing wells generating revenues in excess of $800,000 per month or $10m for the year and that's very conservative.

Take into account that it's only valued at around £2m , the share price is poised to rise significantly with or without Lenigas.

[goforgold1] 06/1/2024 13:03

David Lenigas keep way away from him you will lose all your money total scammer . Plus the big one liar

[z1co] 06/1/2024 12:15

Watch the video from 4 weeks ago.

David Lenigas is saying 15 to 20 wells but i think that might be far too many to achieve unless they have two workover rigs.

[wrtmf] 06/1/2024 10:42

at this time they would want a good run on well workovers, so i'm thinking in terms of which is the easier task, a well shutdown for covid or the well the prev operator failed to bring up drill fluid from [whistling straits 5h]. all part of the review process, find out soon

i'd ignore '10' for now - one well at a time...

[z1co] 06/1/2024 10:27

wrtmf ,

As the company starts generating revenue from the first two wells they will be in stronger position financially to be able to keep the workover rig.

The company is planning to complete at least 10 wells this year it makes sense have the workover rig continuously.

In the next update we'll get more info about the workover rig and which well they will complete after CT4H.

[wrtmf] 06/1/2024 08:39

it would be good news if they could keep the workover rig and crew for the 3rd well and commence immediately. maybe City of Gonzales #1 - couldn't find much on it in old rns except shutdown for covid. just 5 rns in 2020


30jun2020 - 'Moving on to our oil assets, our US-operating teams concentrated on the development of the Buda formation which was encountered during the drilling of our initial well, and as previously advised, was significant in providing drill proven reserves over our lease holdings. During 2019, our US operations encountered electricity delivery issues due to redevelopment work required for the City of Gonzales electrical grid system. This resulted in delays and several stop-starts to our operations. We successfully replaced damaged jet pumping units and ancillary power units and resumed pumping from the well in the latter part of 2019. In April 2020, the Covid-19 pandemic caused us to put our operations in Gonzales on hold. We continue to monitor the situation in Gonzales and whilst there is still a degree of uncertainty with recent coronavirus issues, we plan to re-enter the completed horizontal 3,300-foot lateral extension portion of the initial well COG#1, with a focus on pumping from reservoirs in the Austin Chalk formation.'

[z1co] 03/1/2024 12:01

I'm very tempted to buy a few more on this pullback but waiting for the update before i pull the trigger.

Workover rig arrived on site for CT4H on the 08/12/2023 , it's been nearly 4 weeks.

News cannot be too far away.

Capped of only £2m.

[z1co] 28/12/2023 19:38

An rns is likely next week giving an update on how much oil was produced and sold from CT1H during December and also the early flow rates from CT4H.

The company will start earning a decent amount of cash from January 2024 from the two wells at around $450,000 to $500,000 per month.

Not bad for a company valued at £2m.

[z1co] 28/12/2023 14:36

2024 will be a very successful year for PPP:

"If the current oil price environment holds up this year it and allows the Company to move towards it aims of being a positive cashflow oil developer and producer.We see excellent opportunity for growth in 2024".

[z1co] 28/12/2023 14:30

A few always sell on the news regardless.

[purple11] 28/12/2023 13:43

you would have thought the sellers would have been more forward thinking.