A few months ago Seichinha wrote up a guide explaining how to create a new module position.
You can read it here
Logo and Extra Right Module Guide. You can use the changes on another templates it doesn't apply just to the Penguin Mail template. You may need to adjust some of the code to suit your template or get the positioning and style as you would like. Following the guide will help you get a feel for how the templates hang together.
Backup your template directory and just get stuck in - worst case you may need to restore your original files.