RE: RNS25 Sep 2025 13:34
This sounds mighty interesting...
' Executing a Heads of Terms with RMD Group and its partners in relation to advancing the acquisition of 100% of their interests in a large European Oil and Gas License (through their subsidiary company in Poland);
β’ Although RMD Group and their fellow shareholders are in a position to execute this deal today, and begin immediate operations on the License in question within weeks of the same, without shareholder approval their end; at Pennpetro a Prospectus is required and a General Meeting of shareholders must be held, therefore definitive Agreements of course cannot be signed and as yet cannot be announced. The Company Directors are actively preparing the Prospectus.
Once complete, Pennpetro shareholders will have the opportunity to study and vote on the same, with definitive agreement following if approved by a General Meeting of shareholders. '