Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Very quiet here today, but quite a few trades going through.
Been watching this since it came back from suspension and stuck a bit in at 2.06 on Friday.
It looks like there's some value here with such a low Mcap and the RNS stating they were producing again while it was still suspended.
Even if the level of production doesn't stay as high as initially stated, surely there is value in this to be sitting higher than the current value.
I'll try reading a bit more into it, but struggling to find time atm.
Be interesting to hear from any long term holders on this one to see if there's big red flags, or potentially game changing news that could come soon.
"This share is still under the radar."
Fear not - Adrian is on the RAMP and will not be put off by his bans. This might even be top of the Hot Chats chart at times over the weekend.
Yank response
https://laughingsquid.com/wp-content/uploads/2020/03/Trouble-With-Tumbleweed.gif
Pennpetro Energy Plc Ord 1p is listed on the London Stock Exchange trading with ticker code PPP.L. It has a market capitalisation of £1.96m, with approximately 100.30m shares in issue. Over the last year, Pennpetro Engy share price has been traded in a range of 8.55, hitting a high of 10.25, and a low of 1.70.
Remains, very low shares in issue and a long way off the year high of over 10p 🤔
"Good news! Our oil development team in Texas have been very busy registering our 100% interests in these oil wells and preparing for the well workovers to start. Noble is now finally visible on the Railroad Commission website as owner / operator of the wells thereby allowing us to formally appoint contractors to carry out the on-site well works to bring these well back into oil production. Our current plans are to start with the workover of the Chalk Talk #1H well before moving on to flowing oil from Chalk Talk #4H, City of Gonzales #1 (COG#1) and our Whistling Straits 5H wells. We have a very busy work program ahead and look forward to updating shareholders in the near term." - 8th September 🤔
More oil and gas coming.
Come on Leni , give it some Gas 😜😂
Will we have an afternoon rally, Yank PI's now open for business (core hours) big boys can access London much earlier, will they like, the news on our US Asset, with PPP back on the market ? 😉🤔
David is like Marmite BUT have had some serious gains, on his shares, before the rot (placings) set in or he leaves, eternal dog of the last decade UKOG, floor to almost kiss 12p, he left, what is now KDNC before consolidation and name change, whopping 0.04p to 1.35p (then 3 rapid placings taking it back to 0.65p still well up for early birds) He's a market smarmer and charmer BUT at some point they all usually have a big KA💥💥💥💥💥💥💥💥💥💥💥💥M 😉
PPP , well under valued for the potential it has, plus Main Market, NOT the unregulated wild west casino AIM. Standby for the charm offensive and news flow , then worry after the rise he usually brings to the table first. GLA 🤔
It's DL< everything he spouts is a sales pitch to sucker PI's into handing over their hard earned.
Be wise, research the CEO, and then look at the fundamentals. The history of this well and the history of the CEO = HUGE RED FLAG.
Baxtobax,
But the well originally produced 55,000bbls of oil in 2 years - ending up at a rate of 15-20 bopd according to PPP when it was shut in by the operator in July 2022.
So expecting it to produce 182,000bbls of oil in one year (500x7x52) perhaps illustrates how unlikely the well which PPP was given for very little by the operator will sustain a rate anything like that. Initial rates for a well shut in for about 15 months might be OK but drop off extremely rapidly depending on the recharge mechanism.
Whether there will be updates on flow rates over the next weeks / months will be interesting.
Having a look today as well, 840B's/day with a 50% watercut is still pretty good for the marketcap imo.
Will do some more reading of the posts and newsflow as new to the stock but looking into this one now its back.
Test production currently stable at 35 barrels of fluid per hour (840 barrels of fluid per day)
Please send an email to pennpetro@flagstaffcomms.com
Thanks
I've never been a oiler but I do have some PPP just do not ask why. What kind of revenue does 400-500 Barrels generate them, I can be flipped into holding if they are about to start raking in cash to pay down debt etc etc?
Adrian,
Did you read the Annual Report, probably not - too many words
Like your ridiculous posting with revenues, not net income, on the UKOG board you ignore that oil companies, even AIM ones, cost money to run, as do well sites, exploration programmes and myriad other expenditures.
This from the Annual Report:-
'The Group expects to generate modest positive net cash flow when oil production regularly exceeds 50 barrels of oil per day.'
Decent update , revenue generating . Just need to unsuspend the stock and I think we will see some renewed interest.
No reply on twitter, no reply to emails, no reply to phone calls. Shocking eh
Ah Adrian aka FOTH "Fool On The Hill" on X, has popped up here, go read UKOG and see what a ramping liar he is and will post anything to suit his trading position and agenda, his actions at HH lost investors fortunes being a puppet for UKOG 🤬 and after they used him and spat him out he apologised to everyone, but is now upto his old tricks again 🤬
Anyone tried getting in contact with the Co. 🤔
Do not understand why they are not returning to trading this morning, was expecting a 7.30am RNS have they forgot they are suspended ?
Keep an eye on UKOG chat 😉
*UKOG
Fekin auto correct
Nothing to do with HH.
It's all to do with DL and his Associates and now no doubt the PPP board and UKIG making their next £m's, just like the UKOGSHAM that is now on the Death Spiral Financing last legs 🤬 it's cost investors £100m's 🤬
Indeed - i can't see why PPP are funding HH - it feels like a backdoor way for UKOG to carry on...
Good luck, with DL on board you will need it, PPP will probably do a raise for HH, but first they will prioritise DL's and PPP boards new EXTORTIONATE pay no doubt just like at UKOG, dilution is on the way folks, as is another lifestyle company if DL is involved.