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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petrel Resources Plc | LSE:PET | London | Ordinary Share | IE0001340177 | ORD EUR0.0125 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.10 | -6.45% | 1.45 | 1.40 | 1.50 | 1.55 | 1.45 | 1.55 | 793,349 | 10:35:03 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil And Gas Field Expl Svcs | 0 | -311k | -0.0020 | -7.25 | 2.28M |
Date | Subject | Author | Discuss |
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21/9/2020 08:44 | I agree, and didn't expect much in the way of an update at this stage.Not a great day to put out any Rns. Also think David should take over the communication as Jt seems to ramble unproductively in his comms | valentine73 | |
21/9/2020 08:37 | yes, fenners, a little disappointing there isn't something more concrete on Iraq, back to the bottom drawer now.... | currypasty | |
21/9/2020 08:11 | He couldn't tell it any other way. Nor could he drop any hints. It's an official interim report. | the sage | |
21/9/2020 08:08 | It reads 'A tale of woe"....lots of it sadly! | pjl4 | |
21/9/2020 07:33 | After holding these shares for over a decade and seen value collapse I will blame PET! | bibdaddy | |
21/9/2020 07:26 | Blame COVID 19 ,not PET! | susiebe | |
21/9/2020 07:20 | READ the RNS words Not someone's ramping The company have put it in print "There are no material post balance sheets events affecting the Group" Could not be clearer. | fenners66 | |
21/9/2020 07:19 | PET Interims:- "This is sad scene" "Ghana, where discussions are ongoing since 2008 " "OPERATING LOSS €(243,000)" more than 2x the previous year period CASH USED IN OPERATIONS € (230,000) Change in Intangibles + €1,000 So it has cost €243k to add €1k to intangibles No narrative of any change....no Iraq intangibles at all on the Balance sheet ! OH and the clincher........ " 6. POST BALANCE SHEET EVENTS There are no material post balance sheets events affecting the Group. " Nada , NOTHING..... | fenners66 | |
21/9/2020 07:12 | RNS out- six months of nothing! | bibdaddy | |
20/9/2020 23:15 | Lith / Blakie, quite the opposite. Once a deal is announced I don't think these types of links will be of much interest to current holders.The point is I think, that the changes we are seeing are prerequisite to a deal being finalised and announced. The links are therefore contextually very relevant, and actually carry more meaning for investors before a deal is announced as they are confirmation of real and rapid change that will, hopefully, bring about the circumstances that make a deal for PET possible. | holdingtight | |
20/9/2020 21:07 | Lith, honestly, I was going to write exactly the same thing about an hour ago!! | blakieboy7 | |
20/9/2020 20:46 | All the Iraq links mean absolutely nothing until/if PET actually announce Iraq news | lithological heterogeneities | |
20/9/2020 20:07 | Oil minister reshuffles Basra Oil Co. and other posts New leadership for Iraq's largest state-run oil company, as well as the Iraqi Drilling Company and the Oil Ministry's Technical Directorate. Oil minister reshuffles Basra Oil Co. and other posts Khalid Hamza Abbas, deputy director general of the Basra Oil Company in his Basra office on May 4, 2020, was been given the authority to run the company on Sept. 19, 2020. (ALI AL-AQILY/Iraq Oil Report) By LIZZIE PORTER, JASSIM AL-JABIRI, ALI AL-AQILY, AND JEWDAT AL-SAI'DI. of Iraq Oil Report Published Sunday, September 20th, 2020 ERBIL/BASRA - Oil Minister Ihsan Ismaael has given a deputy director general of the Basra Oil Company (BOC) the authorities to lead the country's most important state-run oil company — part of a reshuffle of leadership in multiple state oil companies and ministry directorates. Iraq Oil Report obtained multiple orders by Ismaael outlining the moves, dated Sept. 19, which were independently confirmed as authentic. This content is for registered users. Please login to continue. If you are not a registered user, you may purchase a subscription or sign up for a free trial. hxxps://www.iraqoilr | ajj2003 | |
20/9/2020 18:03 | ELECTRIC POWER | NATURAL GAS | OIL 20 Sep 2020 | 11:56 UTC Dubai Iraq could generate over 3.5 GW by capturing 40% of flared gas, GE executive says Iraq's flared gas is second-worst globally after Russia Country imports Iranian gas, electricity to address power shortage US is increasing pressure on Iraq to lower energy dependence on Iran Dubai — Iraq, the world's second-worst gas flarer, could generate over 3.5 GW of power by capturing 40% of associated gas that is currently burned, a GE executive said Sept. 20. "In Iraq, if we capture 30% to 40% of the gas flaring that is being done, we can deliver over 3.5 GW of power that otherwise wouldn't be there with the resources available in the country," Joe Anis, CEO for the Middle East, North Africa & South Asia at GE Gas Power, told the Powering Iraq virtual conference. OPEC's second largest oil producer burned some 18 Bcm (632 Bcf) of gas in 2019, the most of any country except Russia, according to a World Bank study published July 21. Flaring deprives countries of the economic benefits that would come if the gas associated with pumping oil was processed and sold to market, rather than burned into the air. Iraq imports Iranian gas and electricity to feed its power needs, but it is under increasing US pressure to lower its dependence on Tehran's energy supplies, which have been under US sanctions since 2018. Iraq is currently receiving US waivers to import Iranian gas and electricity, but the US has said they are temporary. Investment reforms Iraq needs to implement reforms to attract investments needed to utilize its gas resources, Fatih Birol, the executive director of the International Energy Agency, told Powering Iraq. "Iraq has a huge amount of natural gas resources and these natural gas resources can help to power the entire of Iraq and can help to flourish the many industries which will be very helpful for the economic growth of Iraqi economy," he said. "For this, what we need is investments and for investments we need reforms." Iraq faces a host of problems to boost its power supply. Gas is currently produced with crude, which is subject to OPEC+ quotas. Iraq has struggled to adhere to its OPEC+ production limits, especially in summer months when power shortages are most acute as temperatures can soar to over 50 C in the south. Saving billions Iraq, which currently produces around 18 GW of electricity, needs some 30 GW in 2020, according to Mahmoud Hanafy, senior vice president for transmission at Siemens Energy. Siemens in 2018 signed a memorandum of understanding with the ministry of electricity outlining a roadmap to add 11 GW of power generation capacity over four years. Power demand in Iraq is growing as much as 9% per year, requiring the annual addition of around 1.5 GW of electricity, according to Harry Istepanian, an independent water and power expert. Iraq's power sector also is grappling with transmission losses estimated at between 40% to 60%, according to speakers at Powering Iraq. "A 5% reduction in (transmission) losses will save around $40 billion a year for the Iraqi government," Hanafy said. hxxps://www.spglobal | ajj2003 | |
19/9/2020 18:17 | PETrel's Interim Results last year were on MONDAY 23rd September 2019. So this year will it still be the 23rd OR this MONDAY 21st or next MONDAY 28th ? Might the announcement be delayed if news is expected ? DF | ducky fuzz | |
18/9/2020 17:46 | kd on the gamblers thread has nailed it ! He just doesn't realise it. He added " attractive enough to bring in the major IOC's. " There it is , one short excerpt. MAJOR international oil companies....... PET is not. In fact it has not produced any oil. It has almost no money. It has taken some major shareholders to court and stated that these same shareholders "would not or could not " pay for £550k worth of shares that might have made them in excess of 20x that much. The same CP whom promised a Swedish company (?) a multimillion capital injection and then failed to deliver..... And despite kd giving out the reason why PET are not going to be considered i.e. not a major IOC he still hangs on to the fantasy...... | fenners66 | |
18/9/2020 16:20 | Well, things are beginning to get a bit interesting with: - Petrel Interims out next week - Oil Minister Ihsan Jabbar being made head of Iraq National Oil Company (INOC) - revisions to 2018 INOC oil law being expedited. From that article just posted by AJ: "According to the 2018 law, the INOC was to be a vehicle to help ensure "the best exploitation of oil and gas wealth in the areas of oil and gas EXPLORATION [KD: ie 'Upstream'] , rehabilitation and development of oilfields, as well as producing, MARKETING and all activities". Having studied the potential amendments to the INOC law, it looks absolutely vital that these changes get approved by the Iraqi parliament in order to make fiscal terms (ie contracts) attractive enough to bring in the major IOC's. That is why it was interesting to see the Oil Minister having 1:1 meetings with around 30 MP's yesterday - perhaps seeking their intentions when approval is sought from parliament? I get the feeling that these oil law amendments are being pushed very hard. This may also tie in with DH's "sooner than you think" comment, in that if the INOC law changes are approved sooner, then a new improved exploration/upstream type contract could be awarded for say Block 6. Also posted by AJ is the Iraq Petroleum Virtual Conference coming up on 20th & 21st October. These discussion points I believe are the relevant ones for us: * Iraq’s next chapter of UPSTREAM [KD: ie 'Exploration'] investment: How to reform Iraq’s UPSTREAM SERVICE CONTRACTS ; the way forward? * How could Iraq build a new breed of NOC-backed by trading houses? * How could Iraq expand its crude oil MARKET beyond the current buyers? Again, the above point about reforming upstream service contracts, shows that the INOC law changes are high up on the agenda. Also, the mention of 'trading houses' and trying to find ways to market oil to new buyers is very interesting. This is especially relevant for Petrel which is 'in bed' with Itochu - one of the largest oil trading/upstream focussed companies in the world (and Netoil is hugely experienced in oil/gas marketing and trading too). Now think Block6 - DH has always said that Itochu are only interested in getting barrels of oil (for trading). My current working theory therefore is, that the IOM are trying very hard to get the necessary INOC law changes through parliament asap so that they can promote it at the forthcoming Iraq Petroleum Conference in order to attract the major IOC's to do business in Iraq. As an 'actual example' of this in practice, they could award a smaller company (like Petrel?!) one of these new improved exploration (upstream!) type contracts (Block 6) before, or at, the conference to show what these big boy IOC's could also get. Hence DH's "our time has come" comment. | kdickson | |
18/9/2020 14:18 | Back in July, when asked about our chances of getting a deal in Iraq, DH said that they were "odds on". He went on to tell us that "our time has come" and "sooner than you think". We also had "negotiations were at a commercially sensitive stage". The only trouble with comments like that is that they have to be backed up at some point, they have to be justified. The interim's would be a good time to do so. I believe that they will deliver something, I just hope that we are not fed general bland info with the interim's. | the sage | |
18/9/2020 13:27 | So no news RNS's then.Just routine stuff. | lithological heterogeneities | |
18/9/2020 12:24 | walterwhite1 18 Sep '20 - 11:38 - 17449 of 17449 "I emailed the company and asked when we could expect an update. They said we’ll be updated before the end of the month through the interim results" So you did NOT get the answer ..... "Sooner than you might think." then..... What a surprise... Not. | fenners66 | |
18/9/2020 11:38 | I emailed the company and asked when we could expect an update. They said we’ll be updated before the end of the month through the interim results | walterwhite1 |
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