RE: Boom!!17 Jul 2024 14:23
Seriously positive RNS
👀There is a lot of oil in these 2,036 acres and we will rank equally with the landowners with this ORRI and receive monthly revenue income from all oil sales from Texas once production recommences.
👀We are hopeful to see oil production starting within months."
👀"Globalvision will also clear or come to arrangements with Pennpetro's US creditors, which really does clean up our balance sheet. They plan to optimise all 4 x 12.5% ORRI wells to production as quickly as possible, which will be a very big step forwards for the project.
👀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,
👀we see our 50/50 JV here as having real potential to add a lot of future value to Pennpetro shareholders in time."