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Pennpetro Energy PLC - Texas-focused oil and gas company - In the six months that ended September 30, pretax loss widens to $1.1 million from $60,000 a year earlier. This is accounted for entirely by mounting administration expenses. Looking ahead, says: ‘Pennpetro’s new ventures announced since March of this year are transformational for Pennpetro and we see excellent opportunity for growth in 2024. The board takes this opportunity to thank shareholders, old and new, its management, consultants, and advisers for their continued support and if the current oil price environment holds up this year it and allows the company to move towards it aims of being a positive cashflow oil developer and producer.’ Current stock price: 2.11 pence, down 6.2% on Thursday 12-month change: down 71% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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