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PPP Pennpetro Energy Plc

9.55
0.00 (0.00%)
31 Jan 2025 - Closed
Delayed by 15 minutes
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
  0.00 0.00% 9.55 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs USD USD -319k USD -0.0030 -31.83 10.15M
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 9.55 GBX

Pennpetro Energy (PPP) Latest News (1)

Pennpetro Energy (PPP) Discussions and Chat

Pennpetro Energy Forums and Chat

Date Time Title Posts
31/1/202522:49Pennpetro Energy PLC1,626
30/7/202411:46LENIGAS HAS DISRUPTED THE AIM SCAMMERS WITH PPP..WATCH SMALL CAPS TAKE OFF NOW!3
26/7/202407:24Oil shows. Clean up Peach Creek Texas8
17/7/202420:47Texas Gusher413
02/4/202409:38purple the TWAT is a sad LOSER2

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Pennpetro Energy (PPP) Top Chat Posts

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Posted at 31/1/2025 08:20 by Pennpetro Energy Daily Update
Pennpetro Energy Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker PPP. The last closing price for Pennpetro Energy was 9.55p.
Pennpetro Energy currently has 106,299,081 shares in issue. The market capitalisation of Pennpetro Energy is £10,151,562.
Pennpetro Energy has a price to earnings ratio (PE ratio) of -31.83.
This morning PPP shares opened at -
Posted at 30/1/2025 21:49 by 1choip
i hold ppp shares in hargreaves lansdown, but today suddenly show up as nil value. please anyone can explain that.
Posted at 08/1/2025 07:43 by mirabeau
Pennpetro Energy PLC

("PPP" or "Pennpetro")

Further update on proposed placing

and shareholder update



Further to the Company's announcement of 30 December 2024, the Board of Pennpetro Energy PLC (LSE: PPP) announces that it has agreed to extend the closing of the proposed placing of up to 8 million new shares in the Company via Dutch Auction (the "Placing"), which will now close at 5pm on 13 January 2025. In addition, following feedback received from key stakeholders, it has been decided to adjust certain terms and conditions relating to the Placing, to reflect the growing confidence of the Board in the Company's near-term prospects, and in particular, the lifting of the suspension in trading in PPP's shares in the immediate future.



Finally, PPP's Board would also wish to update the market on material positive business and financial developments since the Company's last Shareholder Update RNS on 20 December 2024



Details re the Placing

All aspects of the proposed Placing, as announced on 30 December 2024, will remain in place, aside from the following



· As per above, the Placing will now close at 5pm on 13 January 2025. This extension is largely reflective of the need to allow potential participants more time to return from the holiday break and to make an informed and considered decision.



However, in addition, this short extension allows the Company to respond to concerted feedback from stakeholders, received since the original 30 December Placing announcement. It is abundantly clear from such discussions, that the proposed Placing has been positively received by both current and prospective shareholders, and the Board is pleased with the level of firm commitments received to date. However, it is equally clear that the principal concern of all interested parties is the lack of clarity regarding the timing, and even the certainty, of the lifting of the suspension in trading in the Company's shares.



To address this concern and to further underline the growing confidence of the Board that this restoration of trading will occur in the near-term, it has been decided that the Placing terms will be additionally adjusted as follows;

· The Placing will now be undertaken in two tranches. Investors will be invited to bid for up to 8 million new shares at the same minimum price of 9.0p and under the same Dutch Auction terms as announced on 30 December, with a revised closing date as referenced above, and with settlement immediately thereafter (the "Unconditional Shares").

However, all successful placees will now also be entitled to receive one additional new share for each share subscribed for. These additional shares (the "Conditional Shares") will not require any additional consideration to be paid, but will only be issued by the Company to Placing participants conditional on the following;

ü Trading in the Company's shares not being restored by the close of business on Monday 31 March 2025.

For the avoidance of doubt, should this single condition not be met (i.e. the restoration of trading occurs before this date), the "Conditional Shares" will not be issued and placing participants will only receive those shares already issued via the "Unconditional Shares" issuance.



Given the material nature of these proposed changes to the Placing, all those parties who have placed firm orders under the previous Terms and Conditions may now submit new firm bids on these revised terms.



Shareholder Update

Further to the announcement of 20 December 2024, the PPP Board can confirm that it is now in detailed discussions with Global Vision to negotiate settlement of all outstanding issues in relation to regularising the USA leases of the Company, finalising settlements with all creditors and completing the agreement between parties .



The Board is now confident that all of these outstanding issues will be successfully addressed in the near-term, clearing the way to provide clean titles and access to commence work as soon as practicable, and allowing the restoration of trading in the Company's shares in the timescale outlined above.



Further adding to the confidence of the Board, the audit is also now advancing, and the market will be advised as soon as possible in regards to actual and final completion date .



Application to the Placing

As previously advised, to apply for Placing Shares, Existing Shareholders and other qualified investors should communicate their bid to Peterhouse via their stockbroker as Peterhouse cannot take direct orders from individual private investors. Existing Shareholders or other interested parties who wish to register their interest in participating in the Placing Shares should instruct their stockbroker to call Peterhouse on STX: 76086 or 020 7469 0938 or 020 7469 0936 or 020 7220 9797. Each bid should state the number of Placing Shares the existing shareholder or other qualified investor wishes to subscribe for, at what Placing price and the size of the order in which they wish to participate.

The Company is not obliged to accept all or any offers and reserves its rights to cancel or amend the terms of the auction.



-ENDS-
Posted at 31/12/2024 14:28 by quen3
Global Vision produce 17,000 Barrels Per Day
PPP's 12.5% ORI 2,125 Barrels Per Day
Texas oil price $60.00 Per Barrel
PPP's Income $127,500.00 Per Day
PPP's Income $3,825,000.00 Per Month
PPP's Income $45,900,000.00 Per Year

I'm in
Posted at 30/12/2024 15:37 by rw16
Well paddy, u will be at the bottom of the list so u will probably miss out…

In the Dutch auction process for an IPO, the underwriter does not set a fixed price for the shares to be sold. The company decides on the number of shares they would like to sell and the price is determined by the bidders. Buyers submit a bid with the number of shares they would like to purchase at a specified bid price. A list is created, with the highest bid at the top. The company works down the list of bidders until the total desired number of shares is sold.

The price of the offering is determined from the last price covering the full offer quantity. All bidders pay the same price per share. A Dutch auction encourages aggressive bidding because the nature of the auction process means the bidder is protected from bidding a price that is too high.
Posted at 22/12/2024 15:28 by steveberyl
PPP can only stay suspended for a certain length of time, then it has to DELIST. Those with an interest can do research on Date it must relist or Delist.

It`s not Rocket Science


Lenigas had to get Wonga quick for orcp JV with Riversgold, PPP was perhaps the Vehicle to get that money. This will drag on for YEARS.
Posted at 20/12/2024 11:27 by kemche
iceagefarmer - 18 Jul 2024 - 02:39:15 - 340 of 1472 Pennpetro Energy PLC - PPP
David Lenigas
@DavidLenigas
·
13h
This Pennpetro Texas #oil revenue deal just announced is amazing for a company with not much more than 100 million shares on issue. I’m seriously enthusiastic about the Texas #Lithium and #gas JV deal. That’s damn exciting.
@pennpetro
#PPP
Quote
David Lenigas
@DavidLenigas
·
13h
Very big and transformational #oil revenue deal just announced by �@pennpetro� just now on the LSE #PPP. Deal planning to start 1 August that will see PPP get great revenue from Texas. Plus a major #Lithium and #gas 50:50 JV in Texas.
Posted at 27/11/2024 15:08 by lazygun
wow - placing @ 12p just announced!!!!!!!

Pennpetro Energy PLC

("PPP" or "Pennpetro")



Pennpetro Energy Plc Places 1 million shares at 12p



Pennpetro announces that it has it has raised and an additional £120,000 (gross) by way of a firm placing ("Placing") to one investor of 1,000,000 new ordinary shares at a price of 12 pence per share ("Placing Shares"). The funds for this placing have been received by the Company and the shares are expected to be issue on or around Monday, 2 December 2024.



This £120,000 placing (gross) is in addition to the £360,000 (gross) recently raised (as announced on 1 August 2024) and the £300,000 (gross) (as announced on the 16 August 2024) and will be used towards general working capital purposes as the Company moves to finalise its 31 March 2024 year-end accounts.



Tom Evans, Pennpetro's CEO, comments, "This placing has been completed out of our existing available headroom of 9.059 million shares. I feel the Company is now making solid headway with getting our accounts up to date and look forward to the lifting of the suspension in our shares shortly, once the auditors finalise their review."



"With respect to the oil re-vitalisation program in Texas, I am very pleased that the incoming President of the USA is pro oil drilling, and to this extent I advise that our new Texas operator, Globalvision have now completed their technical studies on the Pennpetro assets at Gonzales County and have advised the Company that the work-over rig is scheduled to arrive on site in the weeks after US Thanksgiving to commence oil production works on an accelerated development program."



Total Voting Rights ("TVR") Statement



On the 12 July 2023, the Company announced that it had 100,299,081 ordinary shares of £0.01 par value on issue, each with one vote per share. Therefore, the total number of voting rights ("TVR") in the Company was 100,299,081.



On 16 August 2024, the Company announced it was issuing 5,000,000 shares as part of £300,000 placing (money received) and these shares ("16 August Shares") have indeed been issued. The 5,000,000 shares and the 1,000,000 Placing Shares announced today will add 6,000,000 shares to the previously reported TVR.



Therefore, the figure of 106,299,081, post the issue of these new Placing Shares, can be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.



For clarity purposes, the TVR will increase by 6,000,000 shares after the Company's shares return to trading after suspension. These 6,000,000 shares attached to the £360,000 placing announced on 1 August 2024 have been issued, and as announced in the RNS of 1 August 2024, will only be admitted to trading following the lifting of the shares from suspension.
Posted at 13/11/2024 01:04 by bmwman3
From LSE..... We have all seen record volumes traded in this be4 suspension &manipulation taking place..biggest give away was..games being played &us being held back in 2.3-3 range..then out of nowhere..they let her go to 12p in nxt to no time..its like mms saying to themselves..enough is enough we cannot hold her back any more..many of us noted same thing started to happen again in 9p-10p range..we were about 2c another proper correction 2wards..15p-20p levels..then came much needed suspension..to relieve the manipulators..with it bought uncertainties and doubts etc to othersCrucially..after 1st placing I msg'ed a bod member..as 2 y do a placing @6p when we had so much going 4 us and more importantly sentiment/momentum was with us & at a high..I was told they had no choice as every ick and Harry knew we was short on cash..and one didn't need to be rocket science to figure out we needed money..it was pointed out2me..if they wanted to they could have raised millions as they had headroom to issue 20m shares..but they elected not to as they didn't want to play in hands of potential shorts..it was also pointed out to me the amount raised i-e £360k was enough to secure them financially & c them through until audit was completed and revenues started to come in from oil side..I took this response msg as positiveThen 2 wks later we had 2nd placingIt should be noted here..imo..initially they raised £360k thinking that would b enough..until revenues came in..then came unwanted delays re-global changing operatership etc..which in a way is understandable..but how did they miscalculate is a any-ones guess..hence it is my opinion they gave in somewhat and let this ii in with another 5m shares..from where I am sitting..there are 2 possibilities1. 5m shares went2insider...who knew more than us and whats to come and where ppp will be going post suspension2. PEELS or some other shorter offered the company £300k..so they could cover their short positionOne thing for sure..on re-emergence ppp will be volatile..both upwards and downwards..as games will be played from outset..not only from mm's but also shorters also potential buyers who will want to buy in at lower price etc etcAll of us are adults or atleast most of us are..we all have our own goals motivations etc..I just want to wish everyone best of luck on re-emergence I hope all of us make decent amounts on return or atleast at worst losses are limited..one should and i believe must do their own research be4 we come back...as I say..it could be one hell of a ride...be prepared..if faint hearted stay away from screens for atleast 1st few hrs on come backOnside note ... we all know the risks in this game...money is just money which can be earned again..I hve been cleaned out in stock market 2/3 times each time coming back stronger with six figure profits..look after yourselves and your loved ones..remember without health money = nothing
Posted at 26/7/2024 19:02 by jungmana
UKOG imo will do a ppp. Today was just the warm up there.Traded volume since placing stocks admitted on the 18th of July is now about 9 billion shares, nearly 3 times the number of placing shares. The churn is done and Monday will be fireworks here.Imo the hydrogen project is significant and a £10 million market cap ( 0.12p share price) is the minimum target short term.That's over 400% rise from today's closing price;"Stephen Sanderson UKOG's Chief Executive commented:"This Placing permits the full removal of the convertible loan, which should then enable the significant progress we have made in delivering our material hydrogen storage projects to be more fully reflected and sustained in our share price. The two recently announced Letters of Support from major infrastructure players in the UK hydrogen space, Sumitomo and SGN, demonstrate our project's credibility, with SGN stating our Dorset project as "essential for decarbonising the Solent Cluster and Southern England"."
Posted at 22/7/2024 15:04 by deltalo
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-
Pennpetro Energy share price data is direct from the London Stock Exchange

Pennpetro Energy Frequently Asked Questions (FAQ)

What is the current Pennpetro Energy share price?
The current share price of Pennpetro Energy is 9.55p
How many Pennpetro Energy shares are in issue?
Pennpetro Energy has 106,299,081 shares in issue
What is the market cap of Pennpetro Energy?
The market capitalisation of Pennpetro Energy is GBP 10.15M
What is the 1 year trading range for Pennpetro Energy share price?
Pennpetro Energy has traded in the range of 0.525p to 12.20p during the past year
What is the PE ratio of Pennpetro Energy?
The price to earnings ratio of Pennpetro Energy is -31.83
What is the reporting currency for Pennpetro Energy?
Pennpetro Energy reports financial results in USD
What is the latest annual profit for Pennpetro Energy?
The latest annual profit of Pennpetro Energy is USD -319k
What is the registered address of Pennpetro Energy?
The registered address for Pennpetro Energy is 20B WILTON ROW, LONDON, 20B WILTON ROW, LONDON, SW1X 7NS
What is the Pennpetro Energy website address?
The website address for Pennpetro Energy is pennpetroenergy.co.uk
Which industry sector does Pennpetro Energy operate in?
Pennpetro Energy operates in the CRUDE PETROLEUM & NATURAL GS sector

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