Petrel Resources Share Discussion Threads

[dreamtwister] 23/4/2024 12:33

The above link relates to refinery`s ! 23/04/2024

Shame the Tamraz/Fayed embezzlement of forward selling shares leading to the

High courts of Justice, As Tamraz Specialty was refinery/pipeline construction.

so has this put a constraint on a working relationship, i have sent "Netoil"

electronic mail with no reply to Date.

[dreamtwister] 23/4/2024 10:46

Still no further reference/update from Mr kdixon for the bidding rounds delayed.

Have you ever watched a movie & the final sequence is to reveal the & the subtitles

roll....lol....so we have the climax of the 5/6th bidding rounds & The Iom award the

contracts to enroll the multinationals & then the Iraqi government goes into

Recess.

[felix0007] 22/4/2024 13:27

Thank you KD and not much longer to wait now!!

[kdickson] 22/4/2024 11:44

Here is the map showing all 30 contract areas across the 5th+ and 6th licencing rounds.

As per my post 21533 you can see that the 'Anz' licence is almost identical to Block 6.

[dreamtwister] 21/4/2024 19:23

This link just dropped into my news feed. Article dated 21/04/2024



Mr kdixon posted a link earlier with reference for the bidding round being delayed ?

i can not confirm if there is a delay !

[dreamtwister] 21/4/2024 15:50

Wow that is a mega project, ring fence the Al-anbar province "western dessert.

"The project is estimated to positively impact Turkish exports to Iraq and our logistics capacity, as the roads are planned to pass through various provinces of Iraq, the city of Al-Anbar, and the Persian Gulf.


The blocks are located in various provinces including Anbar and Nineveh12.
Eight of the blocks are in the province of Anbar in western Iraq2.
One block is located in the province of Nineveh in the north of the country2.
One block is located between Anbar and Najaf provinces2.
The last block is located between Anbar and Nineveh provinces2.




'Export of KRG oil will benefit the central government's budget'
Iraq Energy Center Chairperson Firat Musevi stated that Iraq continues to repair the pipeline with a capacity to transfer 350,000 barrels of oil per day. Musevi emphasized the necessity for oil produced by the Kurdistan Regional Government (KRG) to come under the control of the central government.

[kdickson] 21/4/2024 13:24

Steve, I liked your post 21536 yesterday about the $5m bid bond.
I just wanted to add the following.


There's no way that Petrel hasn't been planning for the funding requirements of a future licencing round.
Indeed they've been preparing for this for years.

Back in the Sept 2021 interims, there was an innocuous highlighted point stating:

• Shareholder base broadened, to prepare for expansion.

I asked DH what this meant. His reply:

" We have been meeting and presenting to institutional and semi-state shareholders willing to back longer-term, capital intensive projects in the Middle East and elsewhere".

(A semi-state company in the Republic of Ireland is effectively a state owned entity)


Later, in June 2023, this 'Future'  looking statement was in the AR:

"Petrel is confident that necessary funding will be available for sound Iraqi and Ghanaian projects".

I asked DH: "
Qn: Is Itochu still a potential sugar daddy in respect of future funding?

DH reply: "Yes".

(This was the third time in 3 years he's confirmed Itochu are still available)

[steveberyl] 21/4/2024 13:15

f31 Seem`s an entirely logical interpretation, Certainly feasible.

[kdickson] 21/4/2024 13:11

I know what you're saying f31 but other sources definitely confirm it's extended until May 11th.
I'll pm you shortly.

[f31] 21/4/2024 12:52

Thanks KD !

According to the article, this meeting in which the PM also mentioned the 2 weeks extension to the bid round took place on Thursday 18th.

So on the very same day that the PM mentioned the 2 weeks extension, the Oil Ministry announces that the ceremony has been brought slightly forward to 27th April ????

I don't hold it completely impossible that the PM speech which focussed on general strategy was already prepared a good bit before that conference on Thursday (and therefore based on an earlier status), and that the “forward”; announcement by the Oil Ministry is in fact the latest development and gives the most up-to-date situation.
In which case the date would still be 27th April.

I seem to remember that there was some “quote” post on this board not too long ago (and I can’t find it back now), that already showed an earlier announcement by the Government about some short further extension.
And was there at some point not indeed an earlier deadline, which was then delayed to the end of April ?
So in that case, could it be that this extension passage within the PM’s pre-prepared speech was perhaps in fact old news ?

[kdickson] 21/4/2024 11:04

Hi f31, good to see you posting again.

Sure, here's the link:
hxxps://shafaq.com/ar/اق78;صـ
575;د/من-تك;ساž7;-ال
587;وداني-يفص;-ل-م
588;اريع-الطا;قة-08;يت
581;دث-عن-ف;كر-80;دي
583;-في-است;غل5;ل-ا
604;ثروة

[f31] 21/4/2024 09:21

Hi KD,

I have to say that it is weird that as recent as 18th April the Oil Ministry states that the ceremony has been brought (slightly) forward to 27 April, and then only 2 days ( !!) later the PM declares an extension of 15 days for (new ?? ) applications ??

Can you provide a link to this new PM article, just to make sure it is indeed from after 18th April.
Can you please also remind me on the original deadline to submit bids.


Yes, I agree that another 2 weeks wait might be practically nothing within what feels like an almost lifetime wait, but I'm never happy with any further delay, as we don't know the real reason for this extension, and anything can happen in the meantime, e.g. further escalations in the Middle East.

[kdickson] 20/4/2024 16:34

Bid deadline for licencing rounds extended for 15 extra days. Now expected to be May 11th. What's another 2 weeks wait after all these years :)

Al-Sudani added: “We are presenting specific projects, including projects attached to the fifth and sixth rounds, and we will extend the period to 15 days, to provide the opportunity to apply for the rounds,” noting that “the sixth round includes patches and fields rich in free natural gas.”

 

 

[dreamtwister] 20/4/2024 10:46

Blast at Iraq military Base....unknown source @ present ?

[dreamtwister] 20/4/2024 10:25

petrel lay claim to block six iraq western dessert ?

this was a verbal agreement ? Non written contract ?

2002 petrel applied for the license but Qualification

was denied at that time by the oil ministry ?

Speculative...Very !

[dreamtwister] 20/4/2024 10:02

the oil blocks in iraq western desert sixth bidding round

Sixth Round:

Tell Al-Hajjar Block - Nineveh Governorate3
Al-Khaleesa Block - Nineveh and Anbar Governorates3
Anbar Block - Anbar Governorate3
Aana Block - Anbar Governorate3
Al-Anz Block - Anbar Governorate3
Akashat Block - Anbar Governorate3
These initiatives are part of Iraq’s efforts to open up new acreage to foreign investors and sweeten contractual terms in the hope of enticing international energy companies back into its upstream oil and gas sector2. However, it’s important to note that all future licensing rounds will continue to be subject to a climate compatibility test2. This means that projects will have to meet net zero targets2.

[dreamtwister] 20/4/2024 10:00

The oil blocks in the Iraq western desert included in the fifth+ and sixth bidding rounds are as follows:

Fifth+ Round:

Gilabat and Qamar Fields in Diyala: Crescent Petroleum (UAE)1
Khashim Ahmer-Injana Fields in Diyala: Crescent Petroleum (UAE)1
Huwaiza Field in Missan (Maysan): Geo Jade Petroleum (China)1
Khidher Al-Mai Field in Basra and Muthana: Crescent Petroleum (UAE)1
Naft Khana, Nau Doman, Jaria Pika and Tel Ghazal Fields in Diyala: Geo-Jade Petroleum (China)2
Fao Area in Basra Governorate2
Jabal Sanam Area in Basra Governorate2
Shihabi Area in Misan and Wasit Governorates2
Zurbatia Area in Wasit Governorate2
Dima Field in Misan Governorate2
Qalat Saleh Area in Misan Governorate2
Northern extensions of East Baghdad Field in Baghdad and Salahuddin Governorates2
Dhafriya Field in Wasit Governorate2
Alan Field in Ninawa Governorate2
Sasan Field in Ninawa Governorate2
Pulkhana Field in Salahuddin Governorate2
Abu Khaimah Fields (Abu Khaimah and Abu Khaimah North Fields) in Al-Muthanna Governorate2
Middle Euphrates Fields (Kifl, West Kifl, and Marjan Fields)

[dreamtwister] 20/4/2024 09:57

The exploration opportunities in the fifth+ and sixth rounds of oil and gas contracts in Iraq are as follows:

The fifth+ round now includes 16 projects1. This round spans 11 oil fields and five oil and gas fields2. It includes four exploration areas that were offered but not granted in the Fifth Licensing Round in 2018, in addition to nine new fields and sites3. These are:
Faw (Fao) Area - Basra Governorate3
Jebel Sinam (Jebel Sanam, Jabal Sanam) Area - Basra Governorate3
Shihabi Area - Maysan and Wasit Governorates3
Zarbatia (Zurbatiya, Zurbatia) Area - Wasit Governorate3
Deima (Dima, Deema, Dimah) Field - Maysan Governorate3
Qalat Saleh Area - Maysan Governorate3
East Baghdad Field - Northern Extensions - Baghdad and Salahuddin Governorates3
Dhubarriya (Dhafriya) Field - Wasit Governorate3
Alan (Allan) Field - Nineveh Governorate3
Sasan Field - Nineveh Governorate3
Balkana Field - Salahuddin Governorate3
Abu Khaymah (Abu Khaima, Abu Khema) Field - Basra Governorate3
Middle Euphrates Fields (Kufil [Kifl], West Kufil, and Marjan [Merjan, Mergan])3
The sixth round now includes 14 opportunities1. This round spans 11 gas fields and three oil fields2. The Minister of Oil has announced the launch of the sixth licensing round for exploration of 11 gas blocks4. These are:
Tell Al-Hajjar Block - Nineveh Governorate4
Al-Khaleesa Block - Nineveh and Anbar Governorates4
Anbar Block - Anbar Governorate4
Aana Block - Anbar Governorate4
Al-Anz Block - Anbar Governorate4
Akashat Block - Anbar Governorate4
North Rutba Block - Anbar Governorate4
South Rutba Block - Anbar Governorate4
Tobal Block - Anbar Governorate4
Walid Block - Anbar Governorate4
Al-Quraynan Block - Anbar and Najaf Governorates4
These initiatives are part of Iraq’s efforts to open up new acreage to foreign investors and sweeten contractual terms in the hope of enticing international energy companies back into its upstream oil and gas sector2. However, it’s important to note that all future licensing rounds will continue to be subject to a climate compatibility test2. This means that projects will have to meet net zero targets2.

[dreamtwister] 20/4/2024 09:50

the licensing of oil contracts in Iraq has been brought forward. The Iraqi Oil Ministry is set to unveil the victors of the fifth+ and sixth rounds of oil and gas contracts covering 30 fields1. Notably, the French have reached a historic agreement, and there are calls from the Gulf, particularly Saudi Aramco, for a reevaluation of the contract structures1.

The Iraqi government has also invited companies to bid for 11 exploration blocks with natural gas reserves as part of a push to boost its self-sufficiency in the hydrocarbon2. Eight of the blocks are located in the western part of the country, one is in northern Iraq, and two are in central Iraq2.

Iraq’s National Investment Commission (NIC) has announced the details of three investment opportunities in the oil refining sector3. These initiatives are part of Iraq’s efforts to open up new acreage to foreign investors and sweeten contractual terms in the hope of enticing international energy companies back into its upstream oil and gas sector4.

it’s important to note that all future licensing rounds will continue to be subject to a climate compatibility test1. This means that projects will have to meet net zero targets