Pennpetro Energy Share Discussion Threads

[jon389] 22/7/2024 17:08

thanks very informative

[deltalo] 22/7/2024 16:13

The whole field is full of oil, huge revenues to come to Pennpetro Energy shareholders. No cost outlay just cash pouring in. No risk just good news all the way. Dividend please, Thank you.

[kemche] 22/7/2024 16:06

BLUE by COP. NT to buy. All gone.

GLA LTHers!

[deltalo] 22/7/2024 16:04

Pennpetro Energy PLC Excellent Oil Production Statistics in TexasSource: UK RegulatoryTIDMPPPRNS Number : 4823VPennpetro Energy PLC04 December 2023Pennpetro Energy PLC("PPP" or "Pennpetro")Excellent Oil Production Statistics for First Full Month in TexasHighlights: -- Well testing of PPP's Chalk Talk #1H well in Texas commenced on 1 November 2023. -- 4,827 barrels produced for month of November. -- Average daily oil production for November was 161 barrels of oil per day (bopd) -- 4,468 barrels of oil sold for the month. -- Extended well testing continues to optimise oil production. -- Workover rig for PPP's second well (Chalk Talk #4H) scheduled to arrive 14 December. London, 4 December 2023 - Pennpetro Energy PLC (LSE: PPP), an independent oil and gas company focusing on development and production in the Peach Creek (Austin Chalk) Oil Field in Gonzales County, Texas, USA, is pleased to provide the statistics for the first full month of oil production from the Company's 100% Chalk Talk #1H ("CT1H") well.Since testing began on 1 November, the CT1H well has produced 4,827 barrels of oil at an average of 161 bopd, including 2 days of no production and including down-time periods for site and pump works. Optimisation work on the well's flow rates continues. The well is seeing increased levels of gas with the oil and on some days, the well has produced extended days of production above 300 bopd with peak daily production reaching 410 bopd.Oil sales for the month of November totaled 4,468 barrels. Pennpetro has an oil sales agreement in place that will see the oil it sells for the month of November paid to Nobel Petroleum, its 100% Texas subsidiary, on the 20 December.Nobel Petroleum, the Company's 100% operating subsidiary in Texas, is now preparing for the arrival of the workover rig on or around the 14 December for the workover on its Chalk Talk #4H well.Tom Evans, Pennpetro Energy 's CEO said:"These are brilliant results for our first full month of oil production from our CT1H well in Texas, and pleasingly exceeds our original estimates of circa 20 barrels per day. We have seen some days reach oil production rates up to 410 bopd, and we are still waiting for the well to settle into stable production. We are still seeing a generally increasing trend in our daily oil production, which is certainly highly encouraging, and it may take us another month or so to see the well finally settle down to a steady state flow rate. We are also very active in preparing for the arrival of the workover rig to start work on our second well, Chalk Talk #4H, in the middle of this month. We are fortunate enough to have booked the same workover rig and rig crew who did the workover on our CT1H well."-ENDS-

[firestorm911] 22/7/2024 16:01

It will be gr8 to close above 3p; that would be a definitive break out.

Regards,
F911
RMC

[deltalo] 22/7/2024 16:00

Glad we're friends again, Atb to you also. We'll do well here.

[jon389] 22/7/2024 15:59

Thanks .Where are the figures for each of the 4 wells ? I will try and find out myself bit starting research on this one

[firestorm911] 22/7/2024 15:58

Deltardo my friend

You may have picked a 3-4 bagger here.

Enjoy!!

Regards,
F911
RMC

[deltalo] 22/7/2024 15:56

It's hard to say as oil production has increased from the last update, More wells about to be drilled so even more production, Here's the last update. Highlights: · Optimisation of PPP's Chalk Talk #1H well in Texas sees oil production more than double in the past week of testing.· Oil production has increased to an average of 248 barrels of oil per day (bopd) in the last 6 days since last Wednesday.· The previous week's oil production averaged 113 bopd.

[jon389] 22/7/2024 15:43

just wondered what the expected total production after work overs? Anyone know what the historical production is?

[deltalo] 22/7/2024 15:41

Well they have started that production will start in a few months, so revenue will pure in soon afterwards. The drilling rig will now drill the 2000+ acreage as soon as it's all signed and so it's getting in position now. Dividend is imminent imho.

[deltalo] 22/7/2024 15:34

No costs involved for Pennpetro Energy, All the new wells to be drilled are funded through this new JV, we sit back and enjoy the returns, Dividend could be just months away imo.

[jon389] 22/7/2024 15:32

what's the expected production/ day of these 4 wells anyone once optimised?

[bad gateway] 22/7/2024 15:25

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.

[deltalo] 22/7/2024 14:56

I see this moving before close, I'm surprised it's dropped to 2.6p, Anyway make to most of it whilst it lasts. Buy and hold. Atb.

[1choip] 22/7/2024 10:15

solg also in the chart

[sharewatching] 22/7/2024 10:12

Popped in. Filtered nut jobs everywhere. Logged out again.

[citys2874] 22/7/2024 10:02

number 1 on the leaderboard risers now

[citys2874] 22/7/2024 09:55

GOOD NEWS FOR PPP and RCGH both should rally today may see both do 50 percent plus

[firestorm911] 22/7/2024 09:16

3.00 - 3.30

Enjoy
Regards,
F911

[talais] 22/7/2024 09:12

What's L2 looking like

[talais] 22/7/2024 09:06

Getting ready for the next leg up

[pirates4] 22/7/2024 09:03

Just under 4p currently 3.6p

[pirates4] 22/7/2024 09:01

Trump wins , oil back up

[pirates4] 22/7/2024 08:57

When go back up to 20p