Petrel Resources Share Discussion Threads

[dusseldorf] 08/5/2024 20:35

It's simply not needed to release a 'no reason for rise' when in fact there is a very specific reason for a rise - i.e. anticipation of a publicised licensing round in an area where Petrel has historic interest and connections as alluded in previous RNS's.Now, if I were to bet that a bunch of people shorted PET today, if there is no 8am announcement, speculation and short panic could see it jump to 5p/share.Either way, most here are for death or glory I guess, but should grab a few headlines/attention from the masses BTW, I always said I'd sell once I was in profit, (having Yolo'd at 15p/20p+ into Tamraz speculation) and after near monthly DCA's over years I am in profit, so I sold some today, but I'm kind of rooting for PET now, it may take double digits yo shake me

[muddystilettos] 08/5/2024 20:10

Preparations are under way.
The recent Iraqi visit from turkeys pm has the approval to eliminate the Kurdish
Pkk militant group and to ensure the flow of oil...turkey is about to implement a
military presence in northern Syria where it supports militants and rebel groups
The middle east corridor may well become the Highway to hell.

[elmfield] 08/5/2024 19:28

Well if we are not involved who ever has been writing the company reports over the last ten years or so should be in prison. If we aren't involved we should at least got a "Can see no reason for the sudden rise etc etc waffle waffle."

[malc5] 08/5/2024 19:20

Well done KD doing a great job!

[apotheki] 08/5/2024 19:05

If Carlsberg made posters....

[apotheki] 08/5/2024 19:00

Ooh to be a fly on the wall

[apotheki] 08/5/2024 18:55

Ministry of Oil building - near Palestine Street

[blakieboy7] 08/5/2024 18:53

Where is it then?! :)

[muddystilettos] 08/5/2024 17:13

if you look at the vast acreage of the gas field the eastern borders eclipse petrels" Merjan" interests whilst the western borders mirrors block six



(MrD post a map plz)

[blakieboy7] 08/5/2024 16:45

Another 250k reported after close

[janet07] 08/5/2024 16:30

skiboy have a look at EGT worth a look, PET had a great day Today too

[blakieboy7] 08/5/2024 16:29

Well we've had worse days! ;)

[taxibabe1] 08/5/2024 15:44

Shares being offered now in bulk

[apfindley] 08/5/2024 15:42

There will be a "know of no reason for rise" rns after 4.30... guaranteed.

[goggin] 08/5/2024 15:32

This is from 2006, don't know how relevant it is today and never seen any comment from them in relation to the Tameraz debacle back in 2018https://www.upstreamonline.com/weekly/itochu-links-with-petrel/1-1-920193

[talais] 08/5/2024 15:26

No speeding ticket,

[kdickson] 08/5/2024 15:24

Not forgetting that in a 2007 article DH stated:

"Eventually we’ll be bought by BP, Total or our sugar Daddy, Itochu (a Japanese joint venture partner in Iraq with Petrel)".

And, current worldwide head of Itochu Gas was an intern for a year at Petrel in Dublin.

Remember the strategic partnership agreement Petrel and Itochu signed in 2006. Here's the Rigzone article for that:

Petrel Resources and Itochu to Cooperate on Iraq Exploration

Petrel Resources has signed a strategic partnership and cooperation agreement with Itochu Corporation. The strategic partnership will cover future exploration and development activities in the Iraqi oil and gas industry...

The Itochu group is also one of the largest traders of crude oil in the Far East and is a major force in numerous business sectors, including areas such as steel pipe supply, finance, logistic and plant businesses.

The cooperation agreement between Petrel and Itochu will initially cover work on the Merjan oil field under a Technical Cooperation Agreement with the Iraqi Ministry of Oil, subject to applicable laws. Itochu will also have a first look at future Petrel projects in the Iraqi oil & gas upstream sector.

As part of the cooperation agreement, Itochu will contribute towards Petrel's historic costs in the Iraqi oil & gas sector and will cover a fixed share of the costs of the current study.

Petrel Managing Director David Horgan welcomed the development:

'We have gotten to know Itochu well over several years. There is a near perfect fit with Petrel. Itochu, one of Japan's leading companies, with its strong balance sheet and long-term perspective, is a strong player in upstream oil and gas business. There is no better partner for us in our quest to expand and deepen our Iraqi activities."