RE: June's production28 Jul 2024 14:00
Off topic but relevant, just goes to show'' when a CO is run properly with shareholders in mind''
Pennpetro announced on 17 July that it had signed a Heads of Terms ("HOT") with Globalvision International U. LDA ("Globalvision"), whereby it plans to buy all of the shares in Pennpetro's subsidiary in Texas Nobel USA Inc ("Nobel") in exchange for a life of asset currently estimated at around 30 years oil sales revenues through a 12.5% Overriding Royalty Interest ("ORI") on the Texan oil wells - City of Gonzales #1 well, Chalk Talk #1 well, Chalk Talk #4 well and Whistling Straits #5 well in Gonzales and a 10% profit share on any other wells drilled or developed within PPP's 2,036 acres in Texas.
PPP SP went from 0.50p to 10p in just over a week and look like it could double again ?
COPL acreage is still worth a hell of a lot more than PPP, there was no need for all this greed towards shareholder there is more than enough for BP / summit / small stakeholders and retail investors in that asset if bond holders money and funding call money was not frittered away on everything but what it was meant for'' although hard to prove ? with invoices perhaps threaded by now'' ??
anyway'' we just want something back like BP '' god bless them for trying on everyone behalf'' or we get included in the restructuring and suspension gets lifted''
BOB HOPE I know'' with these crooks, but stranger things has happen...
GLA