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Share Name Share Symbol Market Type Share ISIN Share Description
Pennpetro Energy Plc LSE:PPP London Ordinary Share GB00BF2K5076 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -12.00 -20.0% 48.00 33,005 10:01:16
Bid Price Offer Price High Price Low Price Open Price
43.00 53.00 60.00 48.00 60.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -0.62 -0.87 35
Last Trade Time Trade Type Trade Size Trade Price Currency
15:11:42 O 500 50.895 GBX

Pennpetro Energy (PPP) Latest News (4)

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Pennpetro Energy Investors    Pennpetro Energy Takeover Rumours

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Date Time Title Posts
13/6/202106:36Pennpetro Energy PLC10

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Pennpetro Energy (PPP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-06-15 14:11:4350.90500254.48O
2021-06-15 11:34:0551.385,0002,568.75O
2021-06-15 10:05:3343.80934409.09O
2021-06-15 09:19:0151.5015,0007,725.00O
2021-06-15 08:59:4345.501,571714.81O
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Pennpetro Energy (PPP) Top Chat Posts

DateSubject
15/6/2021
09:20
Pennpetro Energy Daily Update: Pennpetro Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker PPP. The last closing price for Pennpetro Energy was 60p.
Pennpetro Energy Plc has a 4 week average price of 27.50p and a 12 week average price of 22.50p.
The 1 year high share price is 60p while the 1 year low share price is currently 22.50p.
There are currently 72,333,702 shares in issue and the average daily traded volume is 21,066 shares. The market capitalisation of Pennpetro Energy Plc is £34,720,176.96.
04/6/2021
12:19
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.
Pennpetro Energy share price data is direct from the London Stock Exchange
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