I have the exact same problem, but I seem to have more of them.

I am 18 years old and have had them for about 2-3 years, since before I had any sexual experiences.

I have noticed that sometimes they do pop, but only after a long while or after repeatedly applying pressure for a long time. The smaller ones seem to pop more easily.

After doing some research on the internet I'm about 65% certain that it's nothing bad, but just a kind of zit.


Edit: in another thread on this forum someone replied that they are sebaceous cysts.
The description seems pretty similar and one of the possible causes is excessive testosterone production, which is what happens during puberty of course.

I am 13 years of age and I have bomps on my penis. I am scared to ask my dad about them because I dont want him to make fun of me. I need a cure because I want to have sex without feeling like my girlfriend is scared. Anyone one help me just take 5 mins and email me becuase I am scared and I cry about 7 times a month about this. PLEASE HELP ME!!!

Another common and effective method of treatment involves placement of a heat-pad directly on the cyst for about fifteen minutes, twice daily, for about 10 days (depending on size and location of the cyst). There is some anecdotal evidence however that this home remedy can lead to infection in a previously uninfected cyst. This may be caused by an over-heated or non-sterile heat pad.
This method works by bringing the wax-like material inside of the cyst to a temperature at which it melts, and can be reabsorbed and processed by the body, as a small amount of oily fluid. This method is preferred over surgery both for reasons of associated costs and risks of surgery. This methodology is not applicable for non-sebaceous cysts, however, as other varieties of cysts do not contain the same hardened sebum deposits, and therefore do not melt to be reabsorbed by the body.
Under no circumstances must one try to pop the cyst, as it can lead to infection of the surrounding tissue.

I am 16 and also have this problem. I have researched for a while now, and I think this is the best advise. I plan to start tonight and will reply if it works in 10 days.