Petrel Resources Share Discussion Threads

[the sage] 18/10/2020 10:03

The coming week could well be a life changing week for shareholders. GLA.

[ducky fuzz] 17/10/2020 10:46

I'm pleased the share Price hasn't gone up in the past few days.

We don't want any STD's (Short Term Dudes).

If we get brilliant news we want dudes buying then, not now. DF

[palace pete] 17/10/2020 09:49

I remember while working in Amsterdam Fiona ringing me re Total connection in her lovely Scottish lilt. RIP F.

[kdickson] 16/10/2020 16:49

From alliraqnews.com:

“Al-Kazemi will visit London, the British capital, after Paris.”

So, my guess (in post 17644) that the Iraq delegation may end up staying in London during the Iraq Petroleum Virtual Conference (Tue 20th & Wed 21st) is still a possibility (as long as they visit Berlin before London).

[the chairman elect] 16/10/2020 16:47

TOTAL story was and indeed is true....ok PET?

[kdickson] 16/10/2020 16:20

Hi AliCat1,it was more than just cpap rumours. A couple of posters back then (one being mclellan) received confirmation from 2 different sources that Petrel did have meetings with TOTAL and were at that Paris meeting with the Oil Minister/Total.
Yes, here's hoping for second bite at a successful outcome:)

[palace pete] 16/10/2020 16:10

I wrote to Michel and he had the decency to reply wrote to david diddly squat.

[the sage] 16/10/2020 14:29

I notice on that press report that Pet went to 44p. If we have a small slice of a very large pie, we should go well beyond that. Crumbs off the table and all that. I too am surprised that there hasn't been any buying on leaks. People like cpapman seem to be close to the board, but he's gone quiet.

[valentine73] 16/10/2020 14:24

Agree Kd, Petrel have spent 20+ years accumulating the data. That's got to be worth something to someone at somepoint.Lots of some-ing there!

[kdickson] 16/10/2020 14:09

A few of us long termers will remember that, for much of 2009, there were rumours of a possible JV between Petrel and TOTAL.

It was confirmed as fact that several meetings had in fact happened between Petrel and TOTAL and that they both had been in a meeting in Paris with the then Iraqi Oil Minister Shahristani to discuss/progress the deal.

A well respected Daily Mail journalist, Geoff Foster, wrote this article which was reportedly confirmed to him by Clontarf Road as being factual.




As such, no major deals came to fruition at the time for many companies due to ongoing political and economic upheavals.

However, things are TOTALly different nowadays with a 'can do/must do' attitude to the current pro-business Iraqi government.

So, it was very interesting to see the CEO of TOTAL meeting with the Iraqi Oil Minister (who is going to Paris) in Baghdad this Tuesday and talking about possible projects including the Akkas gas field in the Western Desert -  an area that Petrel knows extremely well as part of their 'regional model' studies over the years.



If you recall, DH said in the May 2020 RNS that:

"Discussions may cover Petrel's past studies on the Merjan-Kifl-West Kifl area, and the Mesozoic and Paleozoic potential of the Western Desert".

That line above doesn't mention Block 6 specifically so perhaps he was meaning the whole Paleozoic potential of both Block 6 as well as the Akkas gas field area. The source rocks for Akkas happen to be the Paleozoic!

My point is that TOTAL could benefit a lot from the petro-geology knowledge that Petrel has on Akkas. Even if Petrel only got a 5% share in a JV, that in itself would be massive! Plus they almost JV'd together all those years ago.

One last thing regarding the Iraq Petroleum conference next Tuesday, a shareholder asked David Horgan if Petrel would be attending the conference. His reply:

"No point going to conferences".

That to me is as good as saying "no point going because we already have a directly negotiated deal in the bag".

Roll on this weekend and next week!

[jojobt9] 16/10/2020 13:58

Well, I have a birthday on Wednesday, so I know what I want as a pressie!

[valentine73] 16/10/2020 13:37

Patience Kd, all good things and all that.....

[kdickson] 16/10/2020 13:09

Well, this is all a bit boring watching the price flatlining every day.
I'm surprised there's not been more activity in the run up to the high level Iraqi delegation starting their European capitals tour this Sunday (Berlin, Paris and London). And also the Iraq Petroleum conference on Tuesday.

I'm expecting several headline grabbing agreements/MOU's to be announced with various companies. And hopefully positive progress on the INOC law too.

I'm not expecting Petrel or Netoil to be mentioned specifically quite yet - news on 'less well known' company deals would more likely come out in the following days/weeks.

[palace pete] 15/10/2020 16:29

Is it a coincidence that my 2 worse performing shares have the most tight lipped news empty boards.

[lippe] 14/10/2020 23:47

How ironic if Daithi and Dora were to announce exploration plans in Angola ...

[fenners66] 14/10/2020 23:24

"Billionaire" who wanted to buy a controlling interest in this minnow on credit ?!
The shares were issued with an agreed payment date - months (?) later, but they failed to pay.

Surely a billionaire would have no problem paying for a planned £500k investment a few months later ?

After all this planned investment was initiated by the concert party not the other way around.

For all we know they were planning this for a year.... are we supposed to think a true billionaire made a mistake , failing to have the funds ?

Then there was the issue of a "hedge fund" that has no internet presence and no explanation of who they are or who they are owned by.
Surely billionaires would be using well known financial institutions getting the best service?

Remember the BOD told us they have no assets to put into PET just ideas - so that buys no shares - clearly as it was their idea to invest - they chose the timescale so months later only ideas ?

And you believe they are PET's saviours.... ?!

[1teemore] 14/10/2020 23:00

exile -You obviously took a punt and lost so you now proceed to blame everyone for your own stupidity- sign of a fool!!

[bountyfull] 14/10/2020 20:09

Of course they are not good things but they do not stop things changing/ progressing. See my old posts how that could happen. The lock in runs out in days but that will not change a thing as well as you know. The last two sentences have a common denominator, which will pay for the shares etc etc.

[lippe] 14/10/2020 19:02

Will Rupert Tampax pass an ECB Fit and Proper Person questionnaire ...

[fenners66] 14/10/2020 18:55

go on bountyfull.....
Tell us
How they failed to buy the shares... was a good thing
How the just give us 90 days and you shall have a £100m asset - which of course did not happen ... was a good thing
How having a court case vs the company .... was a good thing.
How being accused of things with Latvian banks... was a good thing?
How the directors saying the CP had no title to any asset or projects for PET just preliminary ideas .... was a good thing ?
How the PET directors introduced the idea that the CP "could not pay" for the shares ... was a good thing ?

The list goes on .....

I put it to you that the lock in year runs out soon enough.....

[exile] 14/10/2020 17:59

bountyfull....There is no cunning plan that will create shareholder value in any of the Clontarf Companies... well not for the long term at any rate.

[bountyfull] 14/10/2020 17:51

See you squeezed a third option in there f66 rather than work it out.

[fenners66] 14/10/2020 17:13

Easy they won't.