Member Info for Tebbin

PPP is not about saving costs and time on accounts ……

It’s about drilling in Texas and as far as we have been informed they are not doing it…

This is not only a travesty against the investors it is also effecting the land owners in Texas….

If their is directors who they have commited wrong they should be punished…..

Famous US. saying You can run but not hide……

Lock em up ,,,,,Lock em up…..

There is something dishonest has happened……

They have had plenty of time to come clean…..what are they hiding….

USA investors get the message to the President……..

Trump comes over as a President in a hurry……

Can’t see him keeping quiet when his production figures are down in Texas because a couple of directors can’t keep the accounts properly…….i

Drill ,,,,Drill ….Drill baby Drilll……

My take, RM took over the CEO job because he was expected to accept the contract for the Texas oil drilling…..

But he suspected something was not correct…

Get nearer the action to find the problem.

Now he knows the truth, won’t accept the contract….

Everybody suffers because they did not do things properly…..

● On 13 January 2025, the Board was informed that PPP's Company Secretary had received a requisition notice from a shareholder group proposing certain changes to the Board. The Company is seeking legal advice as to the validity of the requisition notice and a further announcement will be made in due course.

● The Board has been made aware of a filing at Companies House on 7 January 2025 of a Progress Report by liquidators to Resources Bonds 11 Limited , a bond issued by the Company in 2016 which went into liquidation in January 2023. Inter-alia, this Report makes direct references to 'breaches by the directors of their statutory and fiduciary duties, leading to various claims against the directors. Solicitors have been instructed and initial letters before action have been issued". Whilst the Board is obviously unable to make any comment on the accuracy or background to these statements, the directors referred herein are both past and present Directors of the Company.

● The Board has commenced recovery action in relation to unauthorised and preference payments that have been identified.

These are issues that effect the accounts and need to be resolved..

I don’t RM will receive the poisoned chalice so all outside activity has to stop…..

I think if you read the previous RNS ……

There you will find out some of the problems which are stopping

The accounts from being finalised.

I must say I am getting hot under the collar..

The issues are detailed and obviously need solving now….

it could be most of us are on the wrong thread completely….

Drill Drill Drill,BAby Drill……..company Joke of the year !!

The biggest crime in my opinion is the stopping of the developement of the four wells in Gonzales county….We were already getting income from them…

Where would the company finances be… if they had flourished. .?

Don’t what o /heads they have against a normal co ?

No office…. No website…no staff…..Texas mostly in GV court….

Accounts for normal F/O piece of cake……

what’s the hold up……??

There has been no encouragement from the management..

Six months up…….

Look for another pie to plumb out of….

Hope Trump will be made aware by our US Pi’s and blocks this project

If it goes bad……

Timbo your list is not showing any of the Directors present or past……

I do not have an upto date list,but there are many more shareholders than you show…

It was mentioned sometime in the past that the major shareholders had over 81%..

I think the problem here is the major shareholders if PPP is run down.

What will happen to the major shareholders.?

They have over 80% of the company…

They won’t like being kicked into touch…..

It will be a costly exercise to make them happy……

RM has most of PPP signed up to his company already…….

87.5% to GV 12.5% to PPP….Straight down the middle ….

Not even close…..

Also CEO of 12.5%….

Is he going to find a better deal ?

Whether you vote for or against any resolution it will be swamped by the major shareholders….

Like PH in July 2024 they knew to get out before suspension.

It will be the same now…….with the majors….

Without a knowledge of the future you are voting blind…

Facts

Two massive buyouts took place of smaller areas in Gonzales county than ours…..

They would have done research and DD before purchase."…

What we have is more valuable … FACT…

Personally won’t be voting for any items until suspension is lifted……..

There is no reason at all for a company to be suspended for six months with accounts….

Accounting is necessary to be declared at specific times throughout the year….

Most companies manage to do this…..

incompetence comes to mind…..

He has 25=Employees… doesn’t do everything himself at GV……

GV website labels 4 Oilwells in Gonzales county…..

Could be old news but why is it up there.?

He is committed to the project, but double interest than the rest of us……

The gravy train is leaving shortly……

Statement made after signing of agreement betweenGV and PPP

In addition, Globalvision would take over all creditors that existed in Texas leaving Pennpetro completely free of any financial obligations associated with Texas.

Sounds any debt with the project not our problem….

Legal teams on both side agreed….

What other overheads are they incurring in UK?