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Pennpetro starts trading on Main Market

Thursday, 21st December 2017
Pennpetro, an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, has started trading on the Main Market.

A total of 70,900,000 ordinary shares have been admitted at a price of 25p per share.

Keith Edelman, non-executive chairman, said the listing provides an opportunity to progress the company to its next phase of development.

"As one of only a few US-focused oil and gas plays listed on the LSE, we look forward to bringing a new investment proposition to UK and international investors. Our medium-to-longer-term aim is to use our position in the market to pursue further growth opportunities and deliver value for existing and future shareholders," he added.


At 9:27am: (LON:PPP) share price was +32p at 32p



Story provided by StockMarketWire.com

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