Pennpetro Energy Plc (GB:PPP) has released an update.
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Pennpetro Energy Plc has successfully raised an additional £120,000 through the placement of 1 million shares at 12 pence each, boosting its total recent fundraising efforts to support its working capital and year-end accounts. The company plans to resume trading soon, following the completion of audits, and is optimistic about its accelerated oil production program in Texas under a new operator. The recent share placement increases the total voting rights to over 106 million shares.
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