Pennpetro Energy Share News (PPP)

IN BRIEF: Pennpetro Energy says oil production continues to flow

Pennpetro Energy PLC - Texas-focused oil and gas company - Plans to bring Whistling Straits 5H well in the Peach Creek oil field in Gonzales County, Texas, on to test production. Adds that oil production continues from its CT1H well. Adds that oil sales revenues continue from CT1H, with net oil sales for February totalling USD48,470.26.

IN BRIEF: Pennpetro Energy well production hit by technical issues

Pennpetro Energy PLC - Texas-focused oil and gas company - Provides interim update from the Chalk Talk 1H well testing program. Says well has experienced a number of top-of-well and bottom-of-well technical issues, since update in December, which required technical intervention and resulted in a sustained fall in overall daily production. Although repairs have been made, oil production has not been restored to the high levels seen in November. Says the CT1H well has now been put back to pump and current oil production is running at between 30 barrels of oil per day and 70 barrels of oil per day. Further work is planned to get the CT1H well back into much higher oil production rates.

IN BRIEF: Red Rock brings in Vinanz chair to help enhance key assets

Red Rock Resources PLC - Africa, South America and Australia-focused natural resource explorer and developer - Hires David Lenigas as a strategic consultant as it "begins a new phase of growth". Lenigas is the executive chair of North America-focused oil and gas producer Pennpetro Energy PLC, and of British Virgin Islands-registered bitcoin miner Vinanz Ltd.

UK shareholder meetings calendar - next 7 days

IN BRIEF: Pennpetro first half loss widens, but optimistic for 2024

Pennpetro Energy PLC - Texas-focused oil and gas company - In the six months that ended September 30, pretax loss widens to USD1.1 million from USD60,000 a year earlier. This is accounted for entirely by mounting administration expenses. Looking ahead, says: "Pennpetro's new ventures announced since March of this year are transformational for Pennpetro and we see excellent opportunity for growth in 2024. The board takes this opportunity to thank shareholders, old and new, its management, consultants, and advisers for their continued support and if the current oil price environment holds up this year it and allows the company to move towards it aims of being a positive cashflow oil developer and producer."

IN BRIEF: UK Oil & Gas gets extension for Horse Hill oil field work

UK Oil & Gas PLC - London-based exploration and production company focused on UK and Turkey - Says the UK North Sea Transition Authority has granted a one-year extension to the PEDL137 retention area work programme at its Horse Hill oil field in southern England until September 30, 2025. Adds that work programme now fully corresponds to the farm-in programme agreed with Pennpetro Energy PLC announced on Monday.

Pennpetro and UK Oil & Gas agreed extension of Horse Hill farm-in deal

(Alliance News) - Pennpetro Energy PLC and UK Oil & Gas PLC on Monday said they have agreed to extend their conditional agreement for Pennpetro to farm-in to the Horse Hill oil field in southern England.

IN BRIEF: Pennpetro notes "brilliant" production at Chalk Talk well

Pennpetro Energy PLC on Monday said - Texas-focused oil and gas company - Says in the first month of production, the Chalk Talk #1H well, also known as CT1H, has produced 4,827 barrels of oil since November 1 at an average of 161 barrels of oil per day. Says optimisation work on the well's flow rate continues, adding that on some days, the well produces extended days of production above 300 bpd. Oil sales in November reached 4,468 barrels. Says its Texas subsidiary, Nobel Petroleum, is preparing for the arrival of the workover rig on or around December 14 for the workover on its Chalk Talk #4H well.

Pennpetro doubles oil production at Texas well after improvements

(Alliance News) - Pennpetro Energy PLC on Tuesday said it has more than doubled oil production from its Chalk Talk 1H well in the US state of Texas, after recent well-equipment improvements and optimisation.

TRADING UPDATES: Technology Minerals, Beeks Financial hail deal wins

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

TRADING UPDATES: Kinovo expects revenue growth; Zotefoams sales down

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

TRADING UPDATES: Solid State expects higher annual revenue

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

IN BRIEF: Pennpetro aiming to return COG 1 to production by year-end

Pennpetro Energy PLC - Texas-focused oil and gas company - In the 15 months ended March 31, records a pretax loss of USD318,902. This compares to a loss of USD1.3 million in the 12 months ended December 31, 2021. Records no revenue in the 15-month period, unchanged from in 2021. Company explains it has changed its year-end so that all of its subsidiary companies report on the same date. Notes that there was no oil production from its Gonzales County site in Texas during the 15-month period but adds it aims to put its COG 1 well back into production by the end of the calendar year.

IN BRIEF: Pennpetro looks to workover wells in Texas on Chalk Talk buy

Pennpetro Energy PLC - oil and gas company focusing on production and development in Gonzales County, Texas - Confirms it has completed its acquisition of the Chalk Talk 1, Chalk Talk 3, and Chalk Talk 4 wells from Millennium PetroCapital Corp. Official records lodged with the Texas Railroad Commission show that Pennpetro's subsidiary, Nobel Petroleum USA Inc, is now the legal owner and operator of these assets. Pennpetro didn't specify the value of the acquisition.

LONDON MARKET CLOSE: Stocks soar, sterling suffers after shock UK CPI

(Alliance News) - Stocks in London ended sharply higher on Wednesday after a cooler-than-expected inflation print in the UK raised hopes that the Bank of England won't have to hike interest rates as far and as fast as previously feared.