Member Info for stuartv

The below paragraph came from the narrative that accompanied last year’s accounts. Appreciate different SP so net shares issued are naturally different. This however does give an insight as to why the company just undertook another raise. The cash amount raised is virtually identical. I would suggest the recent raise was about simply raising working capital. Let’s be honest the company could have raised significantly more on the basis of the deal they’ve just concluded. Looking forward to receiving positive updates from Texas in the coming weeks.

“During the reporting period, the Company expanded its capital base by the placement of 1,166,667 ordinary new shares to raise £350,000 (gross) during March 2022 for additional working capital purposes, and the appointment of Peterhouse Capital Limited as our corporate broker. We also agreed the appointment of Zeus Partners as joint broker and financial advisor”

It’s great that the negative narrative has changed. Moved from not coming out of suspension to the longevity of the suspension. Small win I know but grateful nonetheless.

Thanks guys. I have filtered him. To be honest I have lots of wobbles with shares. But his lows are darn low and his highs off the scale. My life is too short.

Hopefully all the positive messages on this board will come to fruition. Unfortunately one never knows with shares. I look at the fundamentals and with this share they are outstanding. However what is a clear unequivocal fact is that PPP is coming out of suspension. This nailed the lies of the shorters and the simply bad dudes. I’m patient it may take a while.

For me the message is clear. Don’t worry guys we will get the accounts published. We have delegated their provision to a competent external organisation. The reason (this year at least) was due to a death. Might take a while yet but suspension will be lifted.

All it took was a fishbone and an a straightforward RNS update to lighten my mood. Happy days.

That’s all we needed. Nothing fancy just a few lines. Shame about the poor soul who died.

Top person (can’t be too careful these days) Soulac - thanks.

Thankyou Soulac.

Thanks for clarifying the Fisbone conundrum chaps.

Much appreciated 👍

Hi Muhammadali - I noticed from one of your previous posts you mentioned the use of the Fishbone technique on our Texas wells by Global. Not a trick question but was this just an educated guess or sourced from somewhere. It sounds extremely positive if it pans out. https://www.fishbones.as/drilling

Just filter the guy Tiger. Despite all the positive affrm lists below. Read this quote from Tom.

Globalvision will also clear or come to arrangements with Pennpetro's US creditors, which really does clean up our balance sheet.

Have a look around at some of PPP’s industry peers of a similar size a see how many are virtually debt free. Not many for sure.

I got a message from some kind soul on here to say that the I could rejoin. I tried several times but the link didn’t work. I gave up life’s too short buddy. If you could try it would be appreciated as there were some top guys on there. As far as i’m concerned no mention will be made by me as to the reason I got chopped. Water under the bridge. If I could put in a word for TallPaulNy. Check out his great contributions.

And to think I got booted off Telegram 😂😂.

Thanks affrm it is also worth noting that these potential resources are located in a very politically stable location. There are lots of other jurisdictions around the globe which are frankly dodgy. Coupled with this there is also the infrastructure in place to get the product efficiently to market. The same doesn’t necessarily apply elsewhere.

These guys will be working on site as we speak. http://www.jjdrillingintl.net/services.html

OP looks relatively high to me https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/

That is a fair estimate Newuncle. My guess 3/4 months. The initial phase of the project is the work over on the side of existing wells. Haven’t got a clue on timescales for those. Hopefully a lot shorter than 3+ months.

Although it won’t be reflected in the year end accounts the narrative which accompanies them will make good reading. Tom was unequivocal that this would clear up PPP’s balance sheet. This alone should increase the share price. Not sure about the predictions but it still looking very positive.