RE: My comment……14 Feb 2025 15:56
Affrm What lies?
How about:
25 March 2024
We are working with our consultants at Halliburton and Summit to bring the well back to its full production potential and this work is ongoing. The good thing is we continue to see oil coming to surface as we address the issues at CT1H and we continue to receive oil sales with last month's net sales equating to US$48,470.26, for PPP, which shows the robust economics of our acreage. We are optimistic that a further work-over, to clear the potential blockages below the pump, will see this well produce much better than the current circa 50 bopd. We have over 2,000 acres of prime oil ground in Gonzales County in Texas and this acreage has the potential to build a robust oil production company."
"I am also delighted that Deane has accepted the challenge to be the interim President of Nobel Petroleum Inc. He has been involved alongside Andy since 2018 and knows our assets and relationships well, meaning a seamless transition with little interruptions to our day-to-day operations."
15 April 2024
Tom Evans, Pennpetro Energy's CEO said:
"Production continues to bring in revenues from our Chalk Talk 1H well in Texas and revenues are positively impacted with the steady rise in the oil price in Texas over recent months and oil prices now sitting above US$90 a barrel. We are optimistic that the next well intervention at the CT1H well will have a positive impact on future production levels and profitability, but this work plan is still being worked up and should hopefully be done this quarter. I'm also excited to see what the real oil potential is for the Whistling Straits 5H well as this well was a new sidetrack drilling into a fresh new formation and not a workover like CT1H. We know there were strong oil and gas shows when we drilled the sidetrack back in April last year and now that we own 100% working interest in this well, we are eager to pump out the 10,000 barrels of drill fluid which should only take about two weeks when we do get around to putting the well on to pump. I look forward to updating shareholders as our expansion plans progress during this quarter."