Petrel Resources Share Discussion Threads

[fenners66] 14/9/2020 09:18

This debacle has been ongoing since about 2008
PET are out of ideas and are revisiting musings from 2000

Teeling and Finn have moved on to spend more time at Arkle.

No meetings, no progress, I guess no travel expenses since March, nothing to report to shareholders.

Yet Administration Expenses INCREASED 18.7 %

So they BURNED another £146,000 with NOTHING to report to show for it.

HOW?

HOW could they spend more than last year doing less ?

"Principal activities... discussions"

Which did not even happen and this cost investors £146k !


There are winners here.......

and they must be so happy that people continue (somehow ?!) to keep pouring new money in........

[fenners66] 14/9/2020 09:18

blaming covid for Not talking to anyone......

Since CV is going to be around for years , that's got the excuses for inaction sorted for a long time then.

Once again - this company waits.
Everything is out of their hands .....

When there are thousands of companies on the market that actually DO stuff and make a future for themselves and their shareholders etc....

Some still want to fund these guys for their principal activity "discussions" !

Which they don't even do !!

[fenners66] 14/9/2020 09:17

Since CLON and PET are joined at the hip....

Interim Results :

"The principal activities during this period were ongoing discussions with the Ghanaian authorities "

"Ghanaian meetings, scheduled for March 2020, ... had to be postponed due to C-19."

"Accra airport opened in September 2020. We are hopeful that progress may be made from October 2020 and will update shareholders as and when appropriate. "

So a postponed - (what indefinitely ? Like all of this for the past 12 years or more) - meeting from March , will not be rescheduled on Skype, or Zoom , like the rest of the world does, or even in Sept after said airport opened ; but maybe October.... no one rushing to bother to speak to CLON then.

Which October is he talking about?

And for all this "principal activity ... discussions" there are £18k additions to INTANGIBLES !

[lippe] 14/9/2020 08:44

Great minds think alike DF, well considering they are sat ontop the same lolz gregory ...

Oh what a tangled web we weave when we first practice to deceive

[ducky fuzz] 14/9/2020 08:28

5 trades this morning at 5.35p all buys. 5.05p to sell.

[fenners66] 14/9/2020 07:28

PET 2021

Celebrating 20 years of Inaction for 2001 plans.....

[ajj2003] 14/9/2020 07:16

Great minds think alike DF ;)

[ajj2003] 14/9/2020 07:15

Ghanaian Tano 2A Petroleum AgreementGhana currently produces circa 200,000 barrels of oil per day, from the Jubilee, and TEN oil-fields . This is expected to increase to up to 500,000 barrels of oil per day by 2023, despite the OPEC + partner output cuts during the 2020 Covid-19 ("C-19") oil demand weakness.Clontarf is ready to contribute to this growth, by initiating the Ghana Hydrocarbons Tano 2A work programme, subject to securing the necessary funding in an environment complicated by the recent oil price fall, as soon as the signed Petroleum Agreement is ratified.Despite lower oil prices, the carefully calibrated Ghanaian fiscal terms help make the Tano Basin oil play feasible, given the demonstrated source rock and Cretaceous sands which remain an industry favourite. Indeed, the industry contraction may assist Clontarf focus strategy on the bigger potential stratigraphic traps.Critical Ghanaian meetings, scheduled for March 2020, to finalise the few outstanding issues, had to be postponed due to C-19.As of September 2020, Ghana now seems to be returning to normal, with surprising good compliance and low infection rates (possibly reflecting a young population - as well as experience preventing Ebola, etc. since 2002). Accra airport opened in September 2020. We are hopeful that progress may be made from October 2020 and will update shareholders as and when appropriate.

[ducky fuzz] 14/9/2020 07:14

Like CLONtarfe I think PETrel may get an update this month.

[ajj2003] 14/9/2020 07:11

Looks like JT is in a positive frame of mind compared to past years given the CLON update this morning ;)

[talkman2] 13/9/2020 23:00

What share price can you realistically see KD ?

[kdickson] 13/9/2020 22:35

I just want us long suffering, as well as newer, investors to benefit because this, when it finally comes off (and it will) will be life changing for anyone holding even 50,000 or more shares.

[talkman2] 13/9/2020 22:24

I concur . Many thanks KD .

[ajj2003] 13/9/2020 21:50

Just shows the huge potential here if the IOM plays ball and with Itochu and Netoil / Boost inc as potential partners, you have to be in it to win it as they say. ;)

[ducky fuzz] 13/9/2020 21:43

Will we have another good day tomorrow ?

[kdickson] 13/9/2020 21:20

You mean this AJ?

If Block 6 and the Middle Furat fields comprising Merjan, West Kifl and Kifl are all still in the mix as far as PET is concerned, then they're all conveniently close to each other AND to the Basra-Haditha-Aqaba pipeline!

[talkman2] 13/9/2020 21:14

And we only have a market cap of around £8 million !

[ajj2003] 13/9/2020 19:49

Evening Ken,

Out of curiosity, any chance of highlighting the other areas of interest in relation to block 6 and the Akkas field on the map please. May as well lob in the Basra-Aqaba pipeline route in that region and suddenly you are looking at one serious play to say the least

Starting to look very tasty indeed ;)

[ducky fuzz] 13/9/2020 19:44

You ruined it with "maybe".

[kdickson] 13/9/2020 19:43

Closer than ever before maybe :))

[lithological heterogeneities] 13/9/2020 19:38

So we must be close then :0)

[kdickson] 13/9/2020 19:30

So, 19 years of accrued knowledge on the area :). No other company comes close to that. The oil and gas are still there.

[lithological heterogeneities] 13/9/2020 19:08

2001.....lol !