Pennpetro Energy PLC

("PPP" or "Pennpetro")

Short delay in publication of Annual Report and Accounts

London, 01 August 2023 - Pennpetro, an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, USA, notifies about a delay in publication of its Annual Report for the 15 month period ended 31 March 2023 ("FY23 Results"). The delay reflects the need for its Auditors to finalise reporting requirements.

As 31st July 2023 was the last day permitted for publication of the FY23 Results under the Financial Conduct Authority's (the "FCA") Disclosure Guidance and Transparency Rules and the FCA's Listing Rules, the Company requested the FCA that the listing of the Company's ordinary shares of 1 pence each be temporarily suspended with effect from 07:30am today, 1 August 2023.-ENDS-

This announcement contains inside information within the meaning of Article 7(1) of (i) Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014, as amended (the "EU Market Abuse Regulation") and (ii) the EU Market Abuse Regulation as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.

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NOTES TO EDITORS:

Pennpetro Energy is an independent oil and gas company focusing on production in the Gonzales Oil Field in Texas, USA. Shares in the company were admitted to the Official List of the London Stock Exchange by way of a Standard Listing on 21 December 2017 with the ticker symbol "PPP". Its wholly owned subsidiary, Nobel Petroleum USA Inc. has a Participation, Development and Option Agreement and Joint Operating Agreement with Texas based Millennium PetroCapital Corporation over a 250,000 acre Area of Mutual Interest in Gonzales County, Texas, aimed at exploiting the prolific proven Austin Chalk oil and gas play. Pennpetro Energy has also recently signed a conditional binding agreement to conduct a new 3D seismic survey on the Horse Hill Oil Field near London's Gatwick Airport which paves the way to drilling the next production well (HH-3) for 49% of the revenue of this proposed well.

Further information on the Company can be found at www.pennpetroenergy.co.uk