250,0001 Jul 2025 18:13
Yes — Pennpetro Energy PLC, through its wholly owned subsidiary Nobel Petroleum USA Inc., does have a deal covering 250,000 acres. Specifically:
• Nobel Petroleum holds a Participation, Development and Option Agreement and a Joint Operating Agreement with Texas-based Millennium PetroCapital Corporation.
• This grants them rights over a 250,000‑acre Area of Mutual Interest (AMI) in Gonzales County, Texas, focused on the productive Austin Chalk oil and gas formation .
So to be clear, it is a real agreement — a strategic deal giving Pennpetro exposure to that large acreage in Texas via its subsidiary. If you’re looking for details like terms, who’s drilling what, or next steps, I can help dig those out!