Member Info for gwilliams316

All these deals etc etc should only be done by an elected board. Thats my opinion and not one who has a conflictm

Ive been consistant on this for a long time. I think thats a fair position.

Anyone??

Why have peteoquest been given majority control of the leases???

Honestly im just looking for a reason for Petroquest being given control of the assets,its a genuine question

Haha best double act since the 2 ronnies.

So no answer, if the collateral of the inital loan was against certain leases, why have PPP now given petroquest majority control of all the leases and not just handed over the security??

Its an honest question. Id like to know.

We are all apparently shareholders here and it appears they have handed away our assets. Happy to be corrected .

Id like to know who has made this decison on our behalf, i dont think SL should be involved given the clear conflict.

Could theh have not cleared the books by giving the security as set out in the original agreement???

Why give petroquest all leases??

Im asking the question to see if anyone knows why it would appear petroquest have been awarded majority contol of PPPs leases??

Hi Hep

Looks like by giving petroquest the controlling stake in Nobel it appears thats what has happened, open your eyes.

Be honest with everyone now, why has this been done?? Why havent they been given the securities as per the loan agreement?? Its a genuine question that i would like to understand.

All this nonsense of those wanting a vote want to lose money😂😂

The nonsense out of their mouths is brilliant.

They own over 5% of the company. Maybe they dont want to lose the assets to petroquest.

Nothing to say on the petroquest situation then??

Id like to know why Petroquest havent been granted the few leases on the security, that was the guarantee, why has it been awarded control of Pennpetro USA Corp and de fecto Nobel. The leases we all owned, no consultation.

I am genuinly asking who has ahuthority to do so when they have not been ratified by shareholders.

There is no value left, it would appear Petroquest has been granted via PPP contol of the assets.

If you all think this is fine then so be it. But dont pretend this will lead to value for shareholders.

So no one is bothered that our chairman appears to have awarded himswld complete control of the assets and not the company aka the shareholders.

You have to question the honesty of people saying this is fine and shouldnt be questioned.

The loan was secured against a couple of the leases, so hes entitled to the security.

Haha no facts, just everyone questioning it is a personal attack.

Grow up, if you think asking why Petroquest has been given control of all operational assets is a personal attack i cant help you.

My understanding of the petroquest loan is that it was secured against certain cogs. Now to settle its complete control. It doesnt stack up for me.

Is no one asking why this is apparently all above board and happening??

Petroquest i.e Mr Lunn is taking Pennpetro USA Corp.

Pennpetro USA Corp., holds 100% of the US operational subsidiary Nobel Petroleum USA, Inc. ("Nobel USA"), an independent oil and gas production company based in the City of Gonzales, Gonzales County, Texas, USA. Nobel USA's core area of business is in the Austin Chalk and Eagleford Shale oil and gas horizontal formations together with the lower oil and gas reservoir, the Buda Formation in South Texas, United States.

You have to ask why thats allowed to happen and he hasnt just taken the leases assigned as cover in the loan.

The rns states its because of the below,

"In order to achieve the best outcome for all shareholders of Pennpetro Energy Plc, and to satisfy a Condition Precedent regarding funding from RMD Group under the CLN facility"

This is the same nonsense over and over.

Out of nowhere a new lender pops up and because of that it appears that Mr Lunn aka Petroquest take the opearting assets, you have to read all the details to understand what is actually happening.

You have to ask why no one is apprently willing to lend to such a highly regarded board such as ours to the tune of 200k, in the scheme of tbing it isnt a great deal of money.

All without shareholder approval and a board never elected and the same plonkers on here will tell you to vote yes, i get people just want this back trading and want out but not like this. The sp will crash beyond recognition and it will be dilluted to hell.

Tbe market seems to have totally underplayed yesterdays rns, the shape of the nuggets found and what that indicates. Imo it is literally hold for gold.

Look at the amount of buys to sells today, strange this hasnt gone higher.

This is a great update. Read what the nuggets indicate.

In reply to Gsent, people panic over placings, they are part and parcel of a explorarion PLC.

Will Cdl have to raise to drill? Yes probably, but given the oppourtunity here my guess is that that will be far higher than todays and then continue upwards.

What cant be ignored is the fantastic news and oppourtunity that keeps coming.

This really needs looking at. It appears Mr Lunn hasgiven himself control of the assets via deal with petroquest.

I cannot buy a bean on HL

It apoears that the comoany have written down the assets in the business.

842k on legal and professional fees as well.

Mms trying to kill it with the spread.