13th Jul 2022 16:13
Pennpetro Energy PLC - oil and gas company focused on the Gonzales oil field in Texas, US - Widens its pretax loss in 2021 to USD1.3 million from USD1.0 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 USD66,798 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%
By Heather Rydings; [email protected]
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