Letter to AQSE Regulation: Have you verified with Pennpetro that David Lenigas is fit and proper to chair an AQSE Company

As I flagged up earlier, David Lenigas has emerged as the new chairman of wind energy, then bitcoin in treasury and now oil explorer Energy B (NRGB) on AQSE. But after events at Pennpetro (PPP) should Big Dave be allowed to run a public lavatory let alone a public company? Has AQSE Regulation done full due diligence on him and spoken to the new board at Pennpetro PLC (PPP) which has made explicit allegations about Mr Lenigas. I have dropped AQSE Regulation a note.

Pennpetro (#PPP) appoints former Policeman Justin Jones as its new NED -will he look into the former directors and the fraud?

Pennpetro Energy (#PPP) – board changes it argues towards shares returning to trading

Pennpetro Energy (#PPP) – results for half-year ended 30th September 2024!, still working to complete subsequent results

BREAKING: PennPetro accuses David Lenigas of misappropriating company funds says will back FCA enquiries 100%!

Why has the FCA not demanded that Lenigas stands down, pro tem, as chairman of the London Bitcoin Company (BTC) until these allegations are fully investigated. The case presented against him by Pennpetro (PPP) where he used to be chairman looks pretty much open and shut to me.

Pennpetro Energy (#PPP) – SHOCKER “Shareholder Update” detailing audit delay

Letter to the FCA: Please investigate David Lenigas and Tom Evans for alledged Pennpetro fraud

Following yesterday’s news from Pennpetro (PPP) I have written to the FCA about its former CEO Tom Evans who resigned in December 2024 and David Lenigas who resigned on October 31 2024.

Pennpetro may survive: this issue is whether ex directors including David Lenigas go to jail or get a stockmarket ban

I was a bear of Pennpetro (PPP) from the day that it came onto my radar when Big Dave Lenigas joined as chairman of what was an insolvent crock of shit. The shares are suspended amid clear evidence of fraud and a financial crisis. Now it looks as if Pennpetro will survive although shareholders are going to get diluted to buggery and will lose their shirts. The big question is whether the FCA will investigate whether Lenigas and ex CEO Tom Evans profited from fraud and will they do anything.

Pennpetro Energy (#PPP) – “Company Update” including “higher than expected debts”, “auditors are in the final review process”

Pennpetro Energy (#PPP) – now not to proceed with proposed placing due to various “developments” including increased debt claims

Pennpetro Energy (#PPP) – now to extend closing of proposed placing to 13th January

Pennpetro Energy (#PPP) – seeking to place up to 8m shares at a per share “minimum price of 9.0p”

Pennpetro Energy (#PPP) – “taking advice to ensure it is staying within its solvency parameters” and to “address and investigate actions of previous directors”

BREAKING: Pennpetro Energy – after Chairman Big Dave Lenigas last month, now also CEO “has resigned with immediate effect”!

Most recently from Pennpetro Energy (PPP), on 27th November CEO Tom Evans was “very pleased” that the company’s new Texas operator, Globalvision, had completed technical studies and advised a work-over rig was scheduled to arrive on site in the weeks after US Thanksgiving to commence oil production works on an accelerated development program. Today, at 3:27pm from Pennpetro, “Resignation of Chief Executive”!

Pennpetro placing and suspension: of course, there was no forward selling or insider dealing

Shares in David Lenigas ramp Pennpetro (PPP) were changing hands at 12.4p on Monday. Even yesterday they were 10.7p in late morning trade before an ominous slide to 9 5.p at the close with some trades going through at as little as 9.3p. Today the shares have been suspended and there is a placing raising a paltry £360,000 at just 6p. Nothing to see here guv, this is the City of London a beacon of transparency and honesty.

Pennpetro share price rise looks mental when you look at the actual production and financials - sell

The market has gone crazy over news that Pennpetro Energy (PPP) has signed a heads of terms agreement with Globalvision International which will see it acquiring all of the shares in Pennpetro subsidiary Texas Nobel USA, and that has caused the share price to rise by almost 2,000% in just a few weeks.

PennPetro: Does Big Dave Lenigas know that 30th June has been and gone?

On March 28 2023, as part of a ramp for both Pennpetro (PPP) run by Big Dave Lenigas and UK Oil & Gas (UKOG) created by the same shameless Aussie promoter of penny dreadfuls, it was announced that the former would be farming into the Horse Hill acreage owned by the latter.

Pennpetro & its Horse Hill farm in: the silence from Dave Lenigas is deafening, plus some classic tweet ramping from the archive

Normally with a David Lenigas company there is a blizzard of ramptastic RNS statements and gushing promotional tweets from the great man himself. But the last RNS from Pennpetro (PPP) with operational news was more than two months ago. Given the recent High Court ruling against Horse Hill that silence is ominous.

Horse Hill – time for Pennpetro and UK Oil & Gas to ‘fess, the farm in is not going to happen!

David Lenigas warned us all, back in the days when he was promoter in chief at UK Oil & Gas (UKOG), that he was terrified that a foreign multinational would swoop in to buy Horse Hill, the Gatwick Gusher. Those dirty foreigners need to be kept away from this national treasure insisted Mr Lenigas. Wind forward a decade…

Pennpetro: the news is so bad even Big Dave Lenigas cannot tweet polish this turd

What has happened to my old pal David Lenigas? Normally he is on twitter ramping away happily any stock where he or his bromance pal Richard Poulden are in charge or have an interest. But this morning as Pennpetro (PPP) where the chairman is a Mr. David Lenigas, has served up a trading statement, Big Dave has gone all twitter trappist.