Pennpetro Energy, an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, USA, advises that further to its RNS dated 19 July 2023 - 'Completion of transaction to increase interest in oil leases in Gonzales County, Texas', has now completed the acquisition of the 100% Working Interest in the Chalk Talk #1, Chalk Talk #3 well (including the Whistling Straits #5H) and Chalk Talk #4 wells from Millennium PetroCapital Corporation and the official records with the Texas Railroad Commission ("RRC") show that PPP's subsidiary Nobel Petroleum USA Inc is now is the legal owner and operator of these asset.
Tom Evans, Pennpetro Energy's CEO said:
'Good news! Our oil development team in Texas have been very busy registering our 100% interests in these oil wells and preparing for the well workovers to start. Noble is now finally visible on the Railroad Commission website as owner / operator of the wells thereby allowing us to formally appoint contractors to carry out the on-site well works to bring these well back into oil production. Our current plans are to start with the workover of the Chalk Talk #1H well before moving on to flowing oil from Chalk Talk #4H, City of Gonzales #1 (COG#1) and our Whistling Straits 5H wells. We have a very busy work program ahead and look forward to updating shareholders in the near term.'
Source: Pennpetro Energy
