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Or even 15 days! Average time to assess for approval 15 working days! Why were they trying to play time frame times down?

80% get approved decision within 30 business days! So it will be fast tracked not 12 bleeding months! I am going to email them DEFIR reference the Mining License number and get to the bottom of this. It would have to be a very rare thing for it to take up to 12 months that’s nonsense! Use of ‘up to’ 12 months is OTT but up too covers the BOD eh! Unbelievable! IMHO DYOR GLA

Timeline. The Department of Energy, Mines, Industry Regulation and Safety (DEMIRS)

Here in black and white!

https://www.wa.gov.au/organisation/department-of-energy-mines-industry-regulation-and-safety/timeframes

: "The lodgment of the Mining Lease application for the Northern Zone Gold Project is a great next step forward for this fast-growing project. We have drilled some very significant gold intercepts under the Kalgoorlie landscape and we have a strong belief in this project to deliver significant future value for Riversgold and Oracle Power. Conversion of the tenement status to the higher order Mining Lease will increase security of tenure of the Project to an initial 21 years and is an important next step should we wish to develop the Northern Zone Gold Project as a gold mine. We will continue to drill out this exciting project in the new year."

A reminder that 2025 should be an exceptional year for the company and it’s shareholders! IMHO DYOR GLA

By the way these are all buys volumes are picking up!IMHO DYOR GLA

Date Time Trade Prc Volume Buy/Sell Bid Ask Value

23-Dec-24 12:00:57 0.0258 1,922,518 Buy* 0.024 0.027 496.01 O

23-Dec-24 11:58:21 0.0257 926,264 Buy* 0.024 0.027 238.05 O

23-Dec-24 11:57:33 0.0252 8,803,571 Sell* 0.024 0.027 2,218 O

23-Dec-24 11:36:46 0.0253 1,976,284 Sell* 0.024 0.027 500.00 O

23-Dec-24 11:00:45 0.0254 964,566 Sell* 0.024 0.027 245.00 O

23-Dec-24 10:45:57 0.0253 5,913,083 Sell* 0.024 0.027 1,496 O

Lord there is an actual video with the timeframes and a detailed walk through with it noted in big letters in a table 80 percent of applications are approved within 30 business days. See for yourself. Beginning to think the ruse was to talk it down under deliver so warrants @25 didn't look so bad. I think this is why they also then hand in hand did this so they quickly got the extra money. We could realistically have a license by end of January according to the timeframes from the actual Department who issues Mining Licenses. The applications are thick and fast for this department and we submitted a comprehensive application with the Mining report. Wow this is amazing. She hedged her bets by saying it could also be quick. Well I think I will go with the actual department’s own timeframes 80% approved within 30 business days is good enough for me! IMHO DYOR GLA

I am interested to know why company quoted such a vague but also faux elongated timeline for mining license as on the Department for Energy, Mines, Industry Regulation and Safety they give a complete and comprehensive timeline for applications. Oracle submitted on 4th and was received on 5/12 But the timeframe they work to is within 30 business days here and even has a walk through of steps in the process. So it says objections by 9/1/25 so that ties in with the 30 business days. So could we actually see approval of by 27/1/25 that is maximum time and excluding the time office is closed for Xmas. It clearly states 80% applications is within 30 business days! IMHO DYOR GLA

http://www.dmp.wa.gov.au/Environmental-Assessment-and-1471.aspx

Recalibrate but its being played here and actually eg 27 to buy if you want a decent amount. The irony here is if the MM took up the ask much higher over the 30 band you’d have more buyers quickly piling in. The total ruse that there’s warrants left over from Peel is the myth. Honestly we know they have gone and there’s in essence nothing to stop this moving up back to higher levels other than MM trying it on and collecting themselves. Then they will without warning let it go. Seen this so many times!

Reference to the Northern Zone gold fields I mean come on the amount of the find is simply staggering and we should be allowed to see this reflected in the SP and provide a big enhancement to our market cap. On top of this Friday saw excellent copper results. You think the MM behaviour is justifiable here? No they are as ever looking after themselves. We need 2/3 consecutive decent sized buys and that may knock them off their game. To be fair many traders are selling out of other stocks that have blossomed and setting up new positions for 2025 next week! I do think 2025 is Oracle Powers year and we will see our energy projects finally lift off too! Many fingers in many very lucrative pies! IMHO DYOR GLA

Vaga but we know these were sold into the original gold results news all the way up into 70s. Market is open until 12.30pm then re-opens all day as normal Friday 27th. IMHO DYOR GLA

Nice 15 million buy so far ALL trades are actually buys! Slowly slowly warming up for the run sometime today I say! IMHO DYOR GLA

Opening with 2 buys not sells await a slow jog into it then will build up speed and volume. The spread is deliberately wide. Has anything materially changed since the massive volume of buys here averaging 50-60 on the amazing gold results? Well in fact they have changed positively we have funding now so that ‘threat’ has been removed. IMHO DYOR GLA

More progress that’s great. Keep collecting it won’t stay sub 30 forever! 2025 is the pivotal year for ORCP! So many projects smashing out great results! IMHO DYOR GLA

Sscss - we legally have had the leases in our ownership since July 2023! IMHO DYOR GLA

Who actually provided the loan re Petroquest Energy Limited because that is the name of the loan provider in last Accounts and its registered NZ but this is where it becomes confusing as Stephen Lunn incorporated a new company in UK on 9/11/24 Petroquest Energy Ltd. Why? What is this for?

I don’t see apart from the 500k settlement issue what’s changed or is it SL decided to take control here as this was not mentioned or highlighted or paid?

The lease challenge what even is this by who and which lease? The original owners? Land owner? Wasn’t this Millennium but we legally transferred 100% ownership across to us in July 2023. So who is the land owner? Is it the working interest in the other 2 wells?

From 19/7/23 RNS

‘Pennpetro has fortuitously gone from having a minority interest in just the Whistling Straights #5 well, to now having operatorship and a 100% interest in four (4) potential oil production wells in Gonzales County in Texas. This is a big game changer for the Company."

"Yesterday we completed the legal transfer of the oil assets in Texas with Millennium, giving Pennpetro the operatorship of the Whistling Straits #5H well and access to 100% working interest in two nearby oil wells. Over the coming weeks and months, the Company will be working with its management and consultants to bringing the Chalk Talk #1H and #4H wells back online, flow testing the Whistling straits 5H well and potentially bring back online the 100% owned City of Gonzales #1 (COG #1) well that Pennpetro was forced to shut in over the Covid period."

"Chalk Talk wells initial production rates ranged from 100-400 barrels of oil per day, so we are optimistic that we could see the Chalk Talk #1H and #4H wells providing PPP with some good oil production numbers in future. The recent placings have also brought forward the possibility of us putting our COG #1H well back into production since it was shut-in over the Covid period."

IMHO DYOR GLA

Jesus Tiger come on basic stuff like look at the London Stock Exchange ffs stop using AI use your own eyes eh! IMHO DYOR GLA

https://www.londonstockexchange.com/stock/PPP/pennpetro-energy-plc/company-page

So as far as we can tell these are the following issues:-

1. ‘In the U.K., the Company has entered into settlement discussions with a major creditor. This creditor secured a judgment for approximately £500,000 including costs against the Company earlier this year. This liability remained unaddressed causing the Company to face an immediate winding up order. The present board have entered into negotiations for settlement and are looking at a satisfactory outcome.‘

500k settlement of historic judgment which is in hand and can be managed looks like positively. It is not a great deal of money to be found even if we have to pay in one go but suspect managed schedule of payments will be agreed.

2. ‘Additionally, the leases assigned under the Globalvision agreement are secured by historic corporate loans provided to the Pennpetro group and these secured debts will require renegotiation in order for any transaction to proceed further. Discussions to remedy this position are taking place.Globalvision and the Company are committed to working together to address these issues and enable the transaction to complete‘

Well weren’t these all being paid off by Globalvision on completion of the deal so why the problem here? Petroquest Energy Ltd the provider of the loan facility stated that a formal agreement to extend to December 2025 would be possible if required in 2 places in last years accounts so what real negotiations have to take place on this?

3. ‘The transaction announced in July 2024 with Globalvision has yet to be completed due to a number of issues arising in Texas. The issues range from lease ownership challenges, unpaid historic royalty payments and local creditor claims. These are potentially significant but also resolvable claims.‘

So re the Sale and Purchase agreement have these come out of the woodwork since we legally contracted the sale between GV and us? Are these people chancing their arms re lease ownership challenges? The unpaid royalties and local creditors claims again falls under the agreement for all debts associated with Texas to be paid by GV! So I see only one item that of lease ownership challenges but quite frankly seems this would have been checked and covered at start of basic due diligence and suspect either the lease challenger wants more £ or they are just trying it on?

So in essence is it that challenging? Auditors presumably can’t sign off accounts until settlement agreed re 500k, reorganisation formally of loan facility extension and lease ownership challenge resolved, discounted or treated as eg spurious.

Like I said on Globalvision website still says GlobalVision buys Nobel Petroleum USA (interesting that date of news is 23/7/24! IMHO DYOR GLA

https://globalvision.pt/2024/07/

500k is however nothing in the whole scheme. They may have reached a settlement agreement for less or staged payments. Considering we just raised 780k (albeit gross)should this really be a problem? In the context of past share prices along with the deal with GV is 6 or even 12 an issue to raise at with such a tiny available free float of shares that can be traded on the market here? But anyone or institution may use (probably) situation as leverage to get a stunning and cheap deal but amount of extra share dilution would not make a big dent. Many investors even I believe Directors and ii stakes are significantly higher than retail investors recent entries. When everyone was talking about 25-35 + being holy grail to emerge at after suspension, you need to remind ourselves that it was trading at 50-60 range 2 yrs ago! IMHO DYOR GLA

It is on Companies house but was ended. There was a further follow up case here presumably related to original

https://caseboard.io/cases/c364b5aa-6587-4db2-83ef-f7688239f707 which was discontinued normally tactics to force settlement or discussion and agreement to a payment schedule etc

IMHO DYOR GLA

Rob50

https://caseboard.io/cases/debb107f-3f3c-4608-b1d0-795bcb12d745

Gem Yield Bahamas Ltd looks like but this should not be an issue to pay this off even in settlement instalments! IMHO DYOR GLA

This is not AIM it is main market we don’t get delisted after 6 months suspension. Re accounts we will incur fines but have extenuating 3rd party circumstances. IMHO DYOR GLA

NewUncle how much do we actually need here and now? 500k - we raised 780k gross between 1/8 to 27/11/24 can’t have spent that yet so what other obstacles or obligations do they have? The loan circa 4.2 million reference Petroquest is referred to in last accounts and was extended until December 2024 however it clearly states that the revised maturity date on the loan is 31st December 2024 but says

Petroquest Energy Limited have further formally confirmed to the Directors that the loan can be further extended to 31st December 2025 if required.

https://find-and-update.company-information.service.gov.uk/company/10166359/filing-history

There’s circa 110 million shares in issue we can easily without batting an eyelid raise 500k. The associated debts re Noble were to be cleared by GV I am confused how the deal that was executed is what now not executed GV seem to think so as they have the acquisition pasted on their website! The challenges from lease owners land owners would have been covered in due diligence surely so how can an executed deal now not be completed yet? What’s the real stumbling block here? What is going on?

I noticed Lunn has incorporated a new company on 9/11/2024 Petroquest Energy Ltd why?

https://find-and-update.company-information.service.gov.uk/company/16070137/filing-history

IMHO DYOR GLA

The other warrants a lesser amount at 0.7 and 0.17 were repriced to 0.25 but they have not yet been exercised the majority were repriced from 0.32 to 0.25 so that was the agreement repriced majority lower but offset by warrants that were lower (now higher) all coming in to line so average price of 0.25. But as I said these have not been exercised and doubt they will as expect they will wait until the share price climbs higher to make hay. Company does not need money for quite a while yet. Nothing has changed and the warrants (we know how it all operates) were sold into the news of the substantial gold results announcement from N. Zone. Patience pays here. 2025 going to be a stellar strong year on multiple project fronts make your positions here now. Things have changed significantly here now and we are batting out game changing excellent results ! IMHO DYOR GLA