RE: I can see the tolls23 Apr 2026 11:02
I fail to see what is not positive abkut Spinks comments below. I find it refreshing that this BOD are so open to discuss in webinars as well as weekly updates. Yes votes from me.
Richard Spinks, Executive Co-Chairman said: "We continue to make good progress in returning the Company to trading. This Company is a very different organization to the one you all invested in prior to, or indeed in certain cases whilst under, this current suspension.
"We maintain a positive relationship with the Limnytska owners, who understand the lengths to which the current Board have gone to prepare the Company for a transaction of significant value and are willing to negotiate a less dilutive commercial agreement at arm's length rather than a more substantive one; whilst providing the option for the Company to become involved to a greater degree, at our election, in the future, should it be deemed to be in the Company's best interest.
"RMD Group remains a strong supporter of Pennpetro, with Grand Chief Ronald Derrickson joining our board in the past week and having committed to fund operational and other costs at the Chalk Talk A-1H well, as well as the first well re-entry on Limnytska, alongside providing additional working capital via a further convertible loan note agreement to fund the working capital requirements of the business itself.
"This includes the appointment of SPARK advisory, who are currently liaising with the Financial Conduct Authority to map out the path towards returning to trading. I look forward to speaking with shareholders in during the upcoming Webinar, to discuss these developments across the business and will be taking questions specifically on these matters outlined herein."