RE: PPP4 Oct 2025 12:15
RMD Group, a Canada-based firm, is involved in a European oil and gas license in Poland through a partnership with the UK's Pennpetro Energy. The partnership was announced in September 2025, when RMD Group secured a convertible loan note with Pennpetro and gained the right to appoint two directors to the company's board.
Partnership with Pennpetro Energy
In September 2025, Pennpetro Energy announced it had secured a £250,000 convertible loan note from RMD Group to help address financial challenges and work towards resuming trading on the London Stock Exchange.
RMD Group also holds an agreement with Pennpetro Energy to advance the acquisition of 100% interest in a large European oil and gas license in Poland.
The deal is subject to a shareholder vote and the creation of a prospectus by Pennpetro.
A Pennpetro shareholder update in late 2025 mentioned that RMD Group has been developing Central and Eastern European mineral and oil and gas investments for 11 years.
RMD Group's background
While the company is Canada-based, it has been active in Central and Eastern European mineral and oil and gas investments for over a decade.
One source mentions that a Pennpetro director visited the RMD license location in Poland and confirmed the asset's potential.
Poland's broader oil landscape
The partnership between RMD Group and Pennpetro is occurring amid significant news in Poland's oil sector.
In July 2025, Central European Petroleum (CEP), a different company, announced a major offshore oil and gas discovery in the Baltic Sea, off the coast of Poland near the port of Świnoujście.
This discovery is considered one of Europe's most significant conventional oil finds in a decade.