Member Info for Jungmana

Aim is news and sentiment driven, you should get a lot of news here from next week onwards with the drilling starting in early August;

Tom Evans, Pennpetro Energy's CEO said:

"As previously announced, both parties are working well together to complete all of the documentation required to close this important transaction for Pennpetro by month's end and I'm very pleased to inform shareholders that Globalvision have informed me that that they have now booked their drilling contractor for the Texas oil production operations. J&J Drilling International are scheduled to mobilise to site in the early part of August. I look forward to providing numerous updates to shareholders as we move to close this important transaction for the Company and from the operations as they progress."

Another point worth noting here is when the news actually broke out on Wednesday last week,

There was less than 5 million under 1p out of the 84 million volume traded . The vast majority of trades on that day actually took place between 1.30p and 2.40p.

Therefore I don't buy this story of so many who claim to have loaded up about 0.70p

Personally I bought in at 1.30p

I have been doing a lot of digging on PPP assets over the last 2 days and the deal just announced.

Imo the share price should be at least 8p ( GBP 8 million market cap).

The drop from 2p down to 0.60p this year was due to fear of going burst but looking at the assets just 2 years back the market cap here was about GBP 30 million.

Same number of shares today and imo this is worth at least 8p today. And that's a bare minimum.

Tom Evans, Pennpetro Energy's CEO said:

"As previously announced, both parties are working well together to complete all of the documentation required to close this important transaction for Pennpetro by month's end and I'm very pleased to inform shareholders that Globalvision have informed me that that they have now booked their drilling contractor for the Texas oil production operations. J&J Drilling International are scheduled to mobilise to site in the early part of August. I look forward to providing numerous updates to shareholders as we move to close this important transaction for the Company and from the operations as they progress."

Imo will see a good blue finish today.

Remember placing was at 2p just 3 weeks back therefore last of the placee profit takers leaving imo.

5p target by mid August

I think for a £2.5 million company the 50/50 Lithium jv is where the future is;

"Very importantly on the lithium and gas front, the HOT sets out an arrangements with Globalvision to acquire 50% of Nobel Petroleum LLC ("NPLLC") for 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 Company is also very excited about the potential for the AMI on the Gulf Coast region to produce gas and home-grown USA lithium from the wells. Big companies in Texas, such as Standard Lithium, Albemarle Corporation, Koch Industries and Tesla are already making big strides to fund future lithium production and refining from oil wells in Texas, and we see our 50/50 JV here as having real potential to add a lot of future value to Pennpetro shareholders in time."

UPL has no licence in Malaysia and until they do so have no legal entitlement to block SK334 or any other block in Malaysia. Simples!

Clear as daylight;

"Following the completion of the Joint Technical Study in December 2023 the Company has been in communication for some months with the Sarawak government and Petros pursuing the Company's interest to participate exclusively in a production sharing arrangement in respect of Block SK334. We are in continuing communication with the Sarawak State Government, the final authority for awards of Petroleum Sharing Contracts for Sarawak Onshore Assets."

Fantastic rns , 6p here we come soon

Have placed an offer for a house and waiting to be accepted or not.

But am going ahead lining up tilers, electricians, roofers etc to do the rebuild anyway.. sensible idea or a stupid one?

Is best to wait for my offer to be accepted , right?

Anyway, good luck and keep burying your head in the sand.

Best wishes

No one is spreading fear. The article is just 2 days old and there for all to see.

No psc after more than 12 months of jam tomorrow from an incompetent bunch

"PETROS is confident that with the additional high-quality datasets gathered, we will possess far better geological understanding to mature a technically robust prospect to drill in SK334. This will then enable PETROS to offer Block SK334 for competitive bidding to all interested investors."

Full article

https://www.petroleumsarawak.com/news-media/news-and-events/2024/20-jul-2024-rejuvenating-and-unlocking-sarawaks-onshore-hydrocarbon-potential

If you don't pass the competency test and have the proven track record they won't let you in. You can faff about with the state authorities but at national level , is a no no!

Good luck and keep dreaming here.

The Malaysian (at national level) are very selective who they let in;

Listen from 33 mins to 35 mins:

Https://youtu.be/kheS1k8z46E?si=i2ViC0nCGTkqAOEl

Keep waiting for that psc. It will come in 100 years time

I will place a chance of 1/10 for this lot to ever get the psc. Why ? go.listen carefully to the recent presentation done by LBE chairman and ceo.

Malaysian are very careful who they hand a psc to. The company must have a team with a proven track record of delivery and capability.

They just don't hand it to anyone who turns up.

And the track record of this lot especially their history in Tunisia is poor.

This lot are not competent to be awarded the psc by Malaysian Authorities imo.

Sell this and buy LBE,

Market cap is a third of this, far more reputable experienced management, psc granted , farm out process ongoing with interest from multiple large companies , finalising DROs to be granted any day. Etc

As always dyor

Look at the trades in the last 20 mins today. News on Monday me thinks

Nice move today . News due in both he1 and hex next week

Had a small 10k top at 11.10 . Every little helps as i nudge close to that 1 million holding target I want here.

One or 2 institutions have been selling over last 5 weeks due to the change in focus of the company from what they see imo as safe secure jurisdiction to South East Asia . Should be done soon.

Other institutions will join us and won't be surprised to see a tr1 soon.