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Pennpetro Energy PLC - oil and gas company focused on the Gonzales oil field in Texas, US - Widens its pretax loss in 2021 to $1.3 million from $1.0 million in 2020. Explains the main driver behind the loss were legal and professional fees, loan arrangement fees and interest charges which were all in line with board expectations. Posts no revenue in 2021, down from $66,798 in 2020. Says operations undertaken in a restricted manner following Covid-related lockdown in the year. Remains confident in its petroleum assets and its pending Tunisian operations.
Current stock price: 16.26 pence, untraded in London on Wednesday
12-month change: down 62%
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