olivLaw · European equity research
Pennpetro Energy Plc PPP.L
United Kingdom · London Stock Exchange · ISIN GB00BF2K5076 · Vertical: Listed companies from United Kingdom
Pennpetro Energy Plc is a London-listed holding company focused on developing traditional and transition energy projects, and it currently has no operating assets. Its shares have been suspended from trading on the London Stock Exchange since August 2024, so its future depends on completing a reverse takeover and returning to trading. Its profit of $4,076,123 for the year ended 31 March 2026 was driven mainly by the disposal of its US subsidiaries.
At the close of 04 Nov 2026, Pennpetro Energy Plc (PPP.L) stock was 0.00 GBP (+0.00% on the day), with beta -1.14, 52-week range 0.00–0.10 GBP.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 38.3
- weak (30–45)
- Bollinger (20, 2)
- -0.06 – 0.12
- in the lower half of the band · %B 0.32 · band width 529.9%
- SMA 50 / 200
- 0.03 / 0.03
- mixed trend
- MACD (12, 26, 9)
- -0.01 / -0.01
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | unavailable | −0.6% | unavailable | — |
| 3 months | unavailable | −4.2% | unavailable | — |
| 6 months | unavailable | +4.3% | unavailable | — |
| Year to date | 0.0% | +7.5% | −7.5 pp | — |
| 1 year | unavailable | +9.9% | unavailable | +5.8% |
| 3 years | −95.3% | +49.8% | −145.1 pp | +26.3% |
| 5 years | unavailable | +42.8% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
the price (USD) and the reports are in different currencies
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 493.0 k | 30.1 k | unavailable |
| Revenue YoY | unavailable | −93.9% | unavailable |
| Net income | -8.9 m | -1.7 m | 4.1 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -9.02 | -1.59 | 0.03 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | -1,804.7% | -5,711.0% | unavailable |
| Free cash flow | -2.1 m | -918.8 k | -616.2 k |
Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- 40.4 k USD
- Financial debt
- 0 USD
- Net debt
- -40.4 k USD
- Equity
- -2.7 m USD
- Total assets
- 55.7 k USD
- Debt / equity
- unavailable
- Current ratio
- 0.02x
- ROE
- unavailable
- ROA
- 5,175.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 493.0 k | 30.1 k | — | esef· 27 May 2026verified |
| Cost of revenue | 5.6 k | 0 | — | esef· 27 May 2026verified |
| Gross profit | 487.4 k | 30.1 k | — | esef· 27 May 2026verified |
| Operating income | -8.6 m | -941.2 k | -935.6 k | esef· 02 Sept 2026verified |
| Interest expense | 260.3 k | 358.0 k | 212.5 k | esef· 02 Sept 2026verified |
| Pre-tax income | -8.9 m | -1.3 m | -1.1 m | esef· 02 Sept 2026verified |
| Income tax | 0 | 0 | 0 | esef· 02 Sept 2026verified |
| Net income | -8.9 m | -1.7 m | 4.1 m | esef· 02 Sept 2026verified |
| Diluted EPS | -9.02 | -1.59 | 0.03 | esef· 02 Sept 2026verified |
Balance sheet · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Cash | 6.3 k | 101.9 k | 40.4 k | esef· 02 Sept 2026verified |
| Receivables | 307.9 k | 0 | 15.2 k | esef· 02 Sept 2026verified |
| Current assets | — | 101.9 k | 55.7 k | esef· 02 Sept 2026verified |
| Total assets | 314.1 k | 101.9 k | 55.7 k | esef· 02 Sept 2026verified |
| Accounts payable | 2.1 m | 2.4 m | 2.3 m | esef· 02 Sept 2026verified |
| Short-term debt | 4.3 m | 4.7 m | 0 | esef· 02 Sept 2026verified |
| Current liabilities | 6.5 m | 7.1 m | 2.7 m | esef· 02 Sept 2026verified |
| Equity | -6.2 m | -7.0 m | -2.7 m | esef· 02 Sept 2026verified |
| Shares outstanding at year end | 986.4 k | 108.0 m | 125.8 m | esef· 02 Sept 2026derived |
Cash flow · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -763.3 k | -814.7 k | -616.2 k | esef· 02 Sept 2026verified |
| Capex | 1.3 m | 104.1 k | 0 | esef· 02 Sept 2026verified |
| Free cash flow | -2.1 m ≈ | -918.8 k ≈ | -616.2 k ≈ | esef· 02 Sept 2026derived |
| Investing cash flow | -1.3 m | -104.1 k | -55.6 k | esef· 02 Sept 2026verified |
| Financing cash flow | 2.0 m | 1.0 m | 610.3 k | esef· 02 Sept 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 22.9% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
Score by group
23% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.37 – 0.56 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E0.37 – 0.56 (Mid 0.47)17 companies used · median multiple 14.4x · quartiles 11.3x – 17.4x0EV1.L, ABDN.L, ABF.L, AIRE.L, AJB.L, ALFA.L, AMIF.L, APTD.L, ASHM.L, AUTO.L, BAB.L, BAG.L, BATS.L, BBY.L, BCG.L, BKG.L, BME.L
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 22.9% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 13,556.8% | 100 (vs peers) | 27% |
| FCF conversion · Quality | -15.1% | 0 (on a fixed band) | 27% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -4.4x | 0 (on a fixed band) | 27% |
| Current ratio · Balance sheet | 0.0x | 0 (on a fixed band) | 18% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality50/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
PENNPETRO ENERGY PLC (PPP.L). Latest full fiscal year: 2025; data up to 2026-03-31.
Figures computed from the financial statements: revenue 30.1 k USD in 2025; YoY growth -93.9%; net margin 13,556.8%.
The estimated value range is 0.37–0.56 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 22.9% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 13,556.8%
What contradicts it
- FCF conversion: -15.1%
- Interest coverage: -4.4x
- Current ratio: 0.0x
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from United Kingdom · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BATS.LBritish American Tobacco P.L.C. | 104.3 bn | 13.5 | 16.5% | 30.3% | −1.0% | +7% / +88% |
| ABF.LAssociated British Foods PLC | 14.7 bn | 14.3 | 9.2% | 5.3% | −3.1% | −5% / −15% |
| 0EV1.LCarnival PLC | 5.5 bn | 4.1 | 46.7% | 13.4% | +6.4% | unavailable / unavailable |
| BAB.LBabcock International Group PLC | 5.1 bn | 24.7 | 34.7% | 4.1% | +7.2% | −10% / +158% |
| AUTO.LAutotrader Group PLC | 4.8 bn | 16.4 | 60.2% | 47.1% | +3.9% | −13% / −23% |
| BBY.LBalfour Beatty PLC | 4.2 bn | 16.3 | 23.2% | 2.8% | +15.2% | +20% / +160% |
| ABDN.LAberdeen Group PLC | 4.1 bn | 10.8 | 8.0% | 28.9% | −2.1% | +11% / +41% |
| BKG.LThe Berkeley Group Holdings PLC | 3.6 bn | 11.3 | 8.8% | 13.4% | −4.2% | −0% / −22% |
| BME.LB&M European Value Retail PLC | 2.9 bn | 17.4 | 21.2% | 2.8% | +3.7% | +68% / −51% |
| AJB.LAj Bell PLC | 2.4 bn | 22.8 | 49.9% | 33.1% | +18.0% | +8% / +128% |
| ASHM.LAshmore Group PLC | 1.4 bn | 13.9 | 13.1% | 71.6% | −0.1% | +28% / +18% |
| BCG.LBaltic Classifieds Group PLC | 1.2 bn | 23.2 | 15.8% | 57.6% | +6.9% | −99% / −99% |
| APN.LApplied Nutrition PLC | 763.6 m | 36.2 | 41.2% | 19.7% | +24.2% | +71% / unavailable |
| BAG.LA.G. Barr P.L.C. | 671.9 m | 14.4 | 14.4% | 10.8% | +4.0% | −7% / +26% |
| ASC.LAsos PLC | 494.5 m | — | -81.3% | -12.0% | −14.7% | +71% / +8% |
| ALFA.LAlfa Financial Software Holdings PLC | 486.8 m | 16.3 | 61.5% | 23.8% | +15.3% | −28% / +10% |
| AML.LAston Martin Lagonda Global Holdings PLC | 344.3 m | — | -93.4% | -39.2% | −20.6% | −45% / −85% |
| APTD.LAptitude Software Group PLC | 111.3 m | 28.5 | 7.2% | 6.2% | −7.3% | −30% / −23% |
| AMGO.LAmigo Holdings PLC | 9.9 m | — | — | — | −81.9% | +325% / +844% |
| ASBE.LAssociated British Engineering PLC | 605.3 k | — | -19.1% | — | unavailable | unavailable / unavailable |
| AMIF.LAmicorp Fs (uk) PLC | 221.6 k | 0.1 | 27.5% | 9.1% | +8.1% | unavailable / unavailable |
| AAF.LAirtel Africa PLC | — | — | 24.1% | 10.6% | +29.5% | −7% / +164% |
| AAL.LAnglo American PLC | — | — | -19.3% | -20.2% | +4.5% | +30% / +76% |
| ACG.LAcg Metals Limited | — | — | -80.3% | -32.0% | +134.8% | +60% / +63% |
| AEP.LAnglo-Eastern Plantations PLC | — | — | 16.1% | 19.5% | +25.0% | +5% / +113% |
1- and 3-year price returns: for PPP.L from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Pennpetro Energy Plc is a London-listed holding company focused on developing traditional and transition energy projects, and it currently has no operating assets. Its shares have been suspended from trading on the London Stock Exchange since August 2024, so its future depends on completing a reverse takeover and returning to trading. Its profit of $4,076,123 for the year ended 31 March 2026 was driven mainly by the disposal of its US subsidiaries 1.
SWOT
Strengths
- The company has a simplified holding structure and completed the disposal of its US assets, which produced a significant gain in the year ended 31 March 2026 1.
- The new board has restored compliance and set out a clear plan for returning to trading, which could strengthen investor confidence 1.
- Strategic objectives cover both traditional and transition energy, which gives flexibility in choosing projects 1.
Weaknesses
- The group has no operating assets and no commercial production, and its revenue depends on future transactions 1.
- Liquidity is limited and operating cash flow remains negative, leaving the company dependent on external funding 1.
- Audits for several years carried disclaimers of opinion because of incomplete records, which limits the credibility of historical financial information 1.
Opportunities
- Completing a reverse takeover could bring in a new asset and could allow a return to trading on the London Stock Exchange 1.
- Transition energy projects could attract financing if the company develops them with a clear reporting and environmental plan 1.
- If audited interim accounts are clean, the company could regain the confidence of authorities and investors 1.
Risks
- Financing and liquidityhigh
The group depends on external funding for working capital and creditor payments. Convertible loan notes that are not converted into equity could require repayment in cash 1.
- Trading suspension and listinghigh
The shares have been suspended since August 2024, and the regulator may cancel the listing at any time. There is no guarantee that a return to trading will be approved 1.
- Audit and historical recordshigh
Audit reports carried disclaimers of opinion, and the regulator asked for a clean reporting position before a return to trading. There is no certainty this will be achieved 1.
- Reverse takeover and valuationmedium
The transaction depends on due diligence, financing, approvals and a shareholder vote. The valuation relies on a competent person's report that has not been finalised 1.
- Dilution and litigationmedium
Issuing shares for earlier obligations and settling with a creditor could dilute existing shareholders. Litigation over the share register is ongoing and its outcome is not yet known 1.
Investment thesis
What would need to be true (bull case)
- If the reverse takeover completes and trading resumes, the company could become an operating entity with a diversified portfolio of energy projects 1.
- The gain on disposal of the US subsidiaries temporarily strengthened the balance sheet, and the new board has restored compliance, which could support investor return 1.
- If the interim audit is clean, the company could regain the credibility needed for financing and for developing transition energy projects 1.
What would break the thesis
- The company has no operating assets and limited liquidity, and without new funding it could have to postpone or abandon development plans 1.
- A cancelled listing or a failed reverse takeover could leave shareholders without a trading market and without a clear route to recovery 1.
- Litigation and audit qualifications could generate additional costs and could weaken confidence in the company's financial information 1.
What to watch
- Outcome of the strike-out hearing in the share register litigation and the court's decisionAugust 2026
- Audited interim accounts for the period 1 April to 30 June 20262026
- Completion of the reverse takeover and the regulator's decision on the listingby 5 June 2027
- Issue of CLN4 and how the company covers its working capital needsnext fiscal year
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
According to the annual report for the year ended 31 March 2026, the group's principal activity is developing strategic traditional and transition energy projects. Pennpetro Energy Plc acts as a holding company and provides direction and services to its subsidiaries 1. The group had no operating activities in the period under review, so it does not report revenue in the usual sense.
The restructuring in fiscal 2026 involved renegotiating transactions and liabilities, rebuilding governance and stabilising finances. Short-term funding came from convertible loan notes, used to settle outstanding creditors 1. The board is now pursuing a return to trading and a reverse takeover focused on the Limnytska licence in western Ukraine 1.
The main financial item of the year was the gain on disposal of Pennpetro USA Corp and its subsidiaries, Nobel Petroleum USA Inc. and Nobel Petroleum LLC, which produced the group's net profit 1. Operating cash flow remains negative and liquidity is limited, which makes future financing central to the company 1.
Segments
Strategic energy projects
The main segment targets the development of traditional and transition energy projects. At the reporting date the group had no operating assets, and the most important target is the acquisition of an interest of up to 100% in the Limnytska licence in western Ukraine, which is subject to due diligence and approvals 1.
Drilling participations and disposed assets
In the year ended 31 March 2026, participations in drilling programmes were tracked project by project, based on revenue and cost per barrel or per thousand cubic feet. The US subsidiaries were disposed of, and the gain on that disposal was the largest element of the net result 1.
Market context
According to the report, the group may operate in an international market for hydrocarbons and some transition energy markets, which is exposed to variations in demand and energy prices. Energy prices have historically fluctuated widely, influenced by world production, economic trends, currency movements and political events 1. The company does not yet have commercial production and does not hedge price risk, which it will consider once production resumes 1.
Environmental regulation applies in all jurisdictions where the group may operate. The company cannot predict the effect of new environmental laws, which could require significant expense if adopted 1. The capital market is also an important factor, because the shares are suspended and a return to trading depends on the regulator's decision 1.
Trends
- Energy transitionmixed
The company refers to transition energy projects alongside traditional ones, which could open opportunities if financing for such projects is attracted. So far these opportunities have not become operating assets 1.
- Environmental regulationheadwind
Authorities may introduce new environmental rules, which could impose additional investment on a company resuming activity. The group does not include carbon scheme revenues in its financial models 1.
- Restructuring under new leadershiptailwind
The new board has restored compliance, strengthened governance and resumed communication with shareholders, which could support a return to trading if the authorities accept this 1.
- Audit and reporting requirementsmixed
The audit reports for the past three years carried disclaimers of opinion because of incomplete records left by previous management. If audited interim accounts are free of such qualifications, this could be an important step toward a return to trading 1.
Competitive position
The annual report does not name competitors. It describes a context in which rivals already have operating assets and solid funding, while the company itself has no commercial production at the reporting date 1. Its competitive position depends on its ability to attract projects and capital.
Competition centres on licences, projects and investment capital. The company aims to attract an attractive transaction through a reverse takeover, which could depend on offers from other investors in the sector 1.
- Other oil and energy project developers
The report does not name competitors, but the company operates in the same hydrocarbon and transition energy market 1.
- Transition energy operators
Companies developing transition energy projects could compete for the same investors and opportunities 1.
- Investors in hydrocarbon licences in Ukraine
Interest in the Limnytska licence could also attract other entities pursuing similar projects in the region 1.
- Capital providers for reverse takeovers
The company depends on external funding to complete the transaction, so it competes with other projects for the same capital 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202602 Sept 2026
- Annual report 202527 May 2026
Sources
- [1] Annual report, fiscal year ended 2026-03-31 (ESEF) · SEC / Pennpetro Energy Plc · 31 Mar 2026
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.