Pennpetro Energy Share Discussion Threads

[firestorm911] 17/7/2024 15:25

Going to 50% of total shares in issue churned today.

There are about 100m shs.

Already 43m traded.

Regards
F911
RMC

[pirates4] 17/7/2024 15:25

1 hour to go wow

[firestorm911] 17/7/2024 15:22

5p that's 7.5m mcap

[pirates4] 17/7/2024 15:21

Now again hopefully

[firestorm911] 17/7/2024 15:21

I think 3p close, that will be 2 bag for me.

that's still 4.5m cap.

[deanmatlazin] 17/7/2024 15:21

5p tomorrow mornin

[pirates4] 17/7/2024 15:17

Investing in royalty income can provide long-term returns to investors seeking to fund retirement or diversify a portfolio beyond stocks and fixed-income securities. Owning rights to royalties provides a steady income that tends to be insulated from fluctuations in the equity and bond markets.13 May 2024Clip form the web.

[ssrover] 17/7/2024 15:16

impossible to buy now

[deanmatlazin] 17/7/2024 15:11

This deal really does add very significant value to Pennpetro shareholders.

Shareholders should not underestimate the material value of receiving a ORRI on oil production from these wells. There is a lot of oil in these 2,036 acres and we will rank equally with the landowners with this ORRI and receive monthly revenue income from all oil sales from Texas once production recommences. We are hopeful to see oil production starting within months."

[con90210] 17/7/2024 15:09

Fanatic RNS!

[pirates4] 17/7/2024 15:08

The way it's moving with lithium and gas it could well be up to 10p be end of week jmo.

[pirates4] 17/7/2024 15:06

This is good news.In addition, Globalvision will take over all creditors that existed in Texas leaving Pennpetro completely free of any financial obligations associated with Texas.

[deanmatlazin] 17/7/2024 15:04

2 years ago it was 20p+

[firestorm911] 17/7/2024 15:01

Motoring people.

I am just about to bag

Regards,
F911
RMC

[firestorm911] 17/7/2024 14:57

spike to 3.0p


Regards,
F911
RMC

[firestorm911] 17/7/2024 14:57

2.0p is coming.

Regards,
F911
RMC

[firestorm911] 17/7/2024 14:56

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.

[deanmatlazin] 17/7/2024 14:56

3p close today.

shoot up to 5p tomorrow morning.

[firestorm911] 17/7/2024 14:55

2.0p incoming

Regards,
F911
RMC

[firestorm911] 17/7/2024 14:54

small mcap.

I think 3p close today.

Regards,
F911
RMC

[ssrover] 17/7/2024 14:53

all over £1.5m cap

[ssrover] 17/7/2024 14:52

Even clon is over 8m mcap and they dnt produce anything.
Ppp has now revenues and lithium target now