Pennpetro Energy Share Discussion Threads

[pirates4] 17/7/2024 21:30

https://in.marketscreener.com/quote/stock/PENNPETRO-ENERGY-PLC-39103975/news/Pennpetro-strikes-Texas-deal-Nanoco-s-new-facility-47405371/ PPP2.95p+436.36%? PENNPETRO ENERGY PLCMarket Closed - London S.E.  09:05:04 17/07/2024 pm IST1st Jan Change2.95 GBX+436.36%+40.48%SummaryQuotesChartsNewsCalendarCompanyFinancialsSummaryAll NewsAnalyst Reco.HighlightsInsidersTranscriptsPress ReleasesOfficial PublicationsOther languagesTrading IdeasMarketScreener Editorial FeaturesMarketScreener StrategiesPennpetro strikes Texas deal; Nanoco's new facilityJuly 18, 2024 at 12:12 am IST(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:----------Pennpetro Energy PLC - Texas-focused oil and gas company - Signs deal with energy trading firm Globalvision International to sell its shares in Texas Nobel USA Inc. In return, Pennpetro gets a life of asset overriding royalty interest on Texan oil wells and a 10% profit share on any other wells drilled or developed within Pennpetro's 2,036 acres in Texas. It notes a 12.5% overriding royalty interest, over the life of asset which is estimated at around 30 years. The Texan wells are City of Gonzales #1 well, Chalk Talk #1 well, Chalk Talk #4 well and Whistling Straits #5 well in Gonzales. "In addition, Globalvision will take over all creditors that existed in Texas leaving Pennpetro completely free of any financial obligations associated with Texas," Pennpetro says. Chief Executive Officer Tom Evans says: "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."

[bad gateway] 17/7/2024 21:28

Where did you get 5M from? All I have is..

"In addition, Globalvision will take over all creditors that existed in Texas leaving Pennpetro completely free of any financial obligations associated with Texas"


That and Globalvision taking over the whole shebang for a 12'5% royalty which will need production to start to be valued I'd of thought?

[recordz] 17/7/2024 21:24

It's 12.5% Revenue on the 4 wells then 10% profit on the others.

[firestorm911] 17/7/2024 21:20

5m something, right?

Creditors off their back in Texas


12.5% of someone else taking liability is a lot better for these bombed-out shs. You have been in this game long enough to know this.

Nobel petroleum is $6.8bn mcap.

"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."




Regards,
F911
RMC

[bad gateway] 17/7/2024 21:16

There was no enormous debt firestorm they just ran out of funds when production tailed off. All in the RNS's.

[bmwman3] 17/7/2024 21:07

Very informative! Excellent input and devastating repartee as always

[firestorm911] 17/7/2024 21:03

All texas creditors are cleared

So, the party knows the assets are more than the debt, and they are also promising 12.5% Royalties.

If BS 88E, MATD can be valued at 500m+. Why can this not be valued at 30m? 30p


Regards
F911
RMC

[bad gateway] 17/7/2024 20:50

Well actually what happened last year was they promised a lot, production looked promising then tailed off to next to nothing whilst pi's were treated like mushrooms.
Looks like production dropped to zero, they stacked up a ton of debts and have had to settle for 12'5% of whatever they can get if/when production starts again down the line.
No idea on their lithium plans that's for others to decipher but the oil play hasn't been good for pi's as yet as there's been disappointing flowrates.

[turbotrader2] 17/7/2024 20:30

You're just an idiotChat tomoz

[bmwman3] 17/7/2024 19:48

Turbo trader doesn't get that the company now has a fully funded capex programme where millions is to be spent. 12.5% of potentially something monster in Texas , all funded and balance sheet transformed

[pirates4] 17/7/2024 19:43

Last at 4.29 for 3.18p

[turbotrader2] 17/7/2024 19:35

So many caught on the spike bless

[firestorm911] 17/7/2024 19:18

At 5p I will be four bags. It would be nice to have 7-8 bags here. I did five bags on eua.

101m shs in issue, I wonder if volume tomorrow goes above 100m

Not bad.

Regards,
F911
RMC

[chin tu fat] 17/7/2024 19:15

what are you talking about?

PH had only 15m. It's churning, and MMS have to go short.

[pirates4] 17/7/2024 19:14

35 million left, 75 million traded today. Can they issue more or is that it.

[chin tu fat] 17/7/2024 19:13

Churning and MMS short selling, they will balance their books possibly after another 5 bags, i.e 15p something.

[pirates4] 17/7/2024 19:12

How if not enough shares to go around. Form 100 million.

[chin tu fat] 17/7/2024 19:12

I took nearly 600K shares at a 27% premium and am up more than 100%. :).

They tightened the spread afterwards.

[tomboyb] 17/7/2024 19:01

Only 100mill shares in issue -

That is the crux with that RNS as well -

[firestorm911] 17/7/2024 18:57

Look at the buys at 3.15p in the close.

They were asking for a premium.

GLA

Regards,
F911
RMC

[tomboyb] 17/7/2024 18:55

82 mill traded and only 100mill in issue -

LOL -

MMs in big trouble and Peel only has 15mill to sell -

[firestorm911] 17/7/2024 18:51

Hey DAT

Are you still looking for rats in Edinburgh?

Regards,
F911
RMC

[datait] 17/7/2024 18:47

This will go on for days if not weeks 😃😂😂