Pennpetro Energy Plc (GB:PPP) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Pennpetro Energy PLC has entered a significant deal with Globalvision International, selling all shares of its Texas subsidiary in exchange for a 30-year revenue share from Texas oil wells and a 10% profit on new developments. Additionally, Pennpetro will be free from Texas-related financial obligations and embark on a promising 50/50 joint venture with Globalvision to explore gas production and lithium extraction in Texas. The company anticipates oil production to resume within months, marking a substantial step forward in securing long-term value for shareholders.
For further insights into GB:PPP stock, check out TipRanks’ Stock Analysis page.
