Pennpetro Energy PLC - Oil and gas company focusing on production and development in Gonzales County, Texas - Says that the Whistling Straits 5H well in the Peach Creek Oil Field, Gonzales County, Texas, has been drilled to 10,195 feet measured depth, with a 7,632.22 feet true vertical depth. The horizontal well will now be completed as a producer with over 2,500 feet of open hole within the Austin Chalk interval.

Chief Executive Officer Tom Evans says: ‘We are pleased to have hit our target objective and steered the drill bit through the heart of the seismic anomaly which we interpret as a microfracture swarm within the Upper Austin Chalk. The forward plan is to install test facilities and then complete the well imminently.’

Current stock price: 3.24 pence, up 2.9% in London on Wednesday at noon

12 month change: down 88%

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