RE: Waiting for the RNS19 May 2026 16:47
Pennpetro Energy plc (LSE: PPP) is a London-based independent oil and gas company focused on exploration and production, primarily operating in North America, with a particular focus on the Gonzales County oil field in Texas.
Key Information (as of May 2026):
Operational Focus: The company concentrates on the Austin Chalk, Eagleford Shale, and Buda formations in Texas, utilizing Organic Oil Recovery (OOR) techniques.
Stock Exchange: Listed on the Main Market of the London Stock Exchange (LSE: PPP).
Recent Activity:
As of April 2026, the company is focusing on restarting production from the Chalk Talk A-1H well in Texas.
Debt Reduction:
In March 2026, the company signed a deed to eliminate approximately $5 million in debt by ceding a stake in a US subsidiary, Petroquest.Management:
Mavriky Kalugin serves as the Chief Executive Officer.
Key Asset:
The company owns significant leasehold interests (approx. 2,500 acres) in the Gonzales oil field