Member Info for deltavegatheta

Grateful1: "wanted someone else to confirm that PPP still has the lithium oil and gas"

PPP never owned any lithium or gas. The July 17th 2024 RNS stated PPP & GV would form "a 50/50 Joint Venture ("JV") where the parties seek to assess the scope for developing gas production from the AMI with ESGY Energy Inc ("ESGY"), and also importantly to assess the potential to produce lithium from any well in the AMI over the life of the project term."

The assessment turns out to be there is no scope or potential as there never was an AMI with ESGY.

The “Lithium” was the centrepiece of Tom Evans’s con to pump the SP:

“At the time, previous Management also announced a joint venture with ESGY regarding potential Lithium resources and associated anticipated income from that 'relationship' in the same RNS as the Globalvision announcement.

Despite much effort, neither Globalvision, nor Pennpetro, have been able to find any records of a JV agreement with ESGY, nor has there been any communication with ESGY who have failed to respond to any and all attempts to engage.

The previous CEO has also been contacted in regard to this ESGY announcement but has failed to provide copies (if they even exist) of any JV Agreement at any level, with an entity called ESGY. “

MrTwisted: “ Delta...nothing on page 51”

Try reading the Impairment Review section at the bottom.

Mrtwisted: "can you tell me why the operations in texas and the deal with G.V have now evaporated and not pursued??"

See Annual Report page 51

"A decision has been taken by the Board to discontinue exploration due to the absence of a commercial level of reserves."

The board includes Menzel.

Same broker, different individual

25 Sep 2025

Capital Plus Partners Ltd (Company Broker)

Philip Reid, Chairman

Ben Tadd

8 October 2025

Capplus - Broker

Jon Critchley

It's the same broker as the last RNS:

https://www.capplus.co.uk/who-we-are

It's this guy:

https://en.wikipedia.org/wiki/Ronald_Derrickson

Affrm: Also didn't the rns state the cln can only be excersised at the last closing average?

It's confusing as the two RNSs are contradictory, one says 4p the other 10p. If it can convert at average close that could be much lower than either 10p or 4p.

Latest RNS:

The previous CLN anticipated with GEM and previously announced to the market on 25 May 2025, was on less favourable commercial terms than with the RMD Group CLN, charging interest at 6% (GEM coupon was 8%) and maintaining the £0.04 conversion price

GEM CLN RNS:

GEM may convert the Initial Tranche into shares of the Company at the lesser of GBP 0.10 per share ("Fixed Conversion Price") or 100% of the average for the three lowest closing bid prices in the 40 days immediately preceding conversion ("Floating Conversion Price").

Affrm, it would appear that the ESGY partnership is as real as your satellite images.

The P5 Organization Report for Nobel Petroleum US expired in July 1st 2024 according to the Texas RRC website, so while Tom Evans was in charge.

The assets were written down during FY2024 which ended March 31st April 2024, again while Tom as in charge.

I ask again Mr Shillington, what's your source?

TShillington: "But they wasn't due to renewal at the time TE was involved. They have lapsed during Lunns time at the helm. Please fact check your stupidity before posting."

How do you know that for a fact?

BTW I suspect Lunn meant to say that the CLN conversion price is still 10p or last average close and the warrants price remains 4p, but that's just a guess.

ASI: The problem is that there facts are as clear as mud, for example take the CLN terms:

RNS Sept 25th:

"The previous CLN anticipated with GEM and previously announced to the market on 25 May 2025, was on less favourable commercial terms than with the RMD Group CLN, charging interest at 6% (GEM coupon was 8%) and maintaining the £0.04 conversion price"

RNS May 21st:

"The term of the Facility is three years, with a zero coupon.

GEM may convert the Initial Tranche into shares of the Company at the lesser of GBP 0.10 per share ("Fixed Conversion Price") or 100% of the average for the three lowest closing bid prices in the 40 days immediately preceding conversion ("Floating Conversion Price")."

The Sept 25th RNS disagrees with the previous one on both the GEM CLN interest rate & the conversion price.

Mmm, the accounts do clearly state that Olof was paid $46,299 between April 2023 and March 2024 which is difficult to square with the RNS stating "whilst in Olaf Rapp's case, he has been unpaid for over four whole years. ". Lunn can't even spell his name right.

(and before someone accuses me of being pro-Evans/anti-Lunn I am of the considered view that Evans is a conman.)

Asimpleinvestor: "The shares are currently suspended, and no liquidity event—whether asset sale, share issuance, or director compensation—can be executed until PPP meets the regulatory conditions for relisting."

This isn't true, for example PPP has raise money through share issuancea during suspension and asset sales are often required in order to get companies in a fit state for re-trading. Of course many actions do still need to be approved by shareholders though.

Asimpleinvestor: Lunn could extract value through his 50% stake in Nobel US (if it has any value) without PPP ever being re-listed.

Gwilliams316: "why Petroquest havent been granted the few leases on the security"

PPP couldn't give Petroquest the leases directly as they have expired.

Zag: "You have already said Delta that the FCA wont let the deal go ahead"

I didn't say that as you know.

Zag, a company with no assets taking over a company with assets is by definition a reverse takeover.

Another strange point is that if the Petroquest loan defaulted on December 31, 2024, why did Lunn fail to mention such a material fact in any of the Dutch auction RNSs issued in late December or early January outlining PPP’s situation?