Petrel Resources Share Discussion Threads

[currypasty] 11/9/2020 14:32

Hi ein4, hope you are well. News shortly on Iraq would be most welcome, as just a few crumbs for PET will see that 20+p again in a flash, imho. I could do with a winner as one of my other shares has nearly halved in the last couple of weeks...lol

[ducky fuzz] 11/9/2020 14:24

Yet another 100k buy :-)

[ein4] 11/9/2020 13:43

Looking quite interesting, news shortly? lets hope its on Iraq?

[elmfield] 11/9/2020 13:39

Same as you but certainly taken the opportunity
that a low price has given,don’t need to rise much
to be in profit.

[currypasty] 11/9/2020 13:36

Thanks elmfield.. as you know Ive been in PET on and off for 20 years.
There is a time to be buying, and pay interest, and a time to switch off and leave in the bottom drawer, and wait...

My gut feeling is that PET are in with a chance of something in Iraq, and the prize is huge... If not ill just switch off for another year, or ten.

[kdickson] 11/9/2020 13:27

Note this phrase from later in the article:

"...the MO “will ask other international companies VERY SOON to develop the field”

[kdickson] 11/9/2020 13:21

Ok look. Oil Minister having talks with South Korea ambassador yesterday. I bet the Akkas gas field was being discussed as South Korea's KOGAS are dilly dallying as per the above article and might be replaced. Now, who do we know that has an intimate knowledge of the Akkas region in the Western Desert? ;)

[kdickson] 11/9/2020 13:15

News broke in May that Iraq would allow companies from neighbouring Saudi Arabia to invest in the development of Akkas, the country’s largest non-associated gas field. The announcement by finance minister and acting oil minister Ali Allawi was aired by Saudi Arabian news channel Al Arabiya, and quickly generated headlines about Saudi Aramco, the world’s largest oil producer, making its first steps into the development of overseas assets in the upstream sector.

However, the talks had been running since at least August 2019, when a deputy minister, Hamid al-Zawbai, said Baghdad was speaking to Aramco and Saudi Basic Industries Corp (Sabic) for Akkas and the planned Nebras petrochemical complex, respectively. Since then, Aramco has acquired 70% of Sabic in a $69.1bn deal.

Despite the high-level sign-off, Muhammed Abed Mazeel Al-Aboudi, director general of the reservoirs and fields development directorate at Iraq’s ministry of oil (MO) told NGW in late August that “Aramco [has] not yet discussed the project with us.”

Noting that Akkas remains “on the table”, Al-Aboudi explained that the ministry is “LOOKING FOR A PARTNER for [current operator, South Korea’s] Kogas,” adding that the Koreans have been asked to start production from the field or to leave. He added that there has been interest from US companies and while discussions are “going forward” on multiple fronts, Akkas will be awarded to INTERNATIONAL COMPANIES.

[kdickson] 11/9/2020 13:14

This article out this morning. Sounds like Akkas gas field is still up for grabs.

[ein4] 11/9/2020 13:06

20p first target, I expect an update soon, hopefully on Iraq?

[ajj2003] 11/9/2020 12:56

Usual MM tricks of the trade on show. Will soon be a time when they will not be able to hold it back. That should be worth watching ;)

[lithological heterogeneities] 11/9/2020 12:44

Fingers crossed this is finally the real deal

[the sage] 11/9/2020 12:41

God willing.

[roger148] 11/9/2020 12:40

What does that mean?

[elmfield] 11/9/2020 12:29

Anyone else here remember the old Friday afternoon 14.00 hours RNS days!As you so rightly said, would you want to he out..............

[ducky fuzz] 11/9/2020 12:28

Another 3 buys just gone through.

[lithological heterogeneities] 11/9/2020 12:24

24 Jul 20 "sooner than you think," looks to be a heck of alot sooner in the past few days.

[palace pete] 11/9/2020 12:23

No news to back this up so steady for a week or so then drift again with no news.start stop rewind.

[lithological heterogeneities] 11/9/2020 12:18

Nice find AJ.So this could be more than just a pipe dream atlast .

[roger148] 11/9/2020 12:18

Taken a few here but will be out with a small profit in due course

[ducky fuzz] 11/9/2020 12:17

The last 16 trades are buys.

[ducky fuzz] 11/9/2020 12:08

3 Buys just gone through on NEX at 5.47p

[the sage] 11/9/2020 12:07

Took the words out of my mouth, Jo.