Petrel Resources Share Discussion Threads

[fenners66] 20/11/2020 10:12

Meanwhile I have put the question to the acolytes and apologists to do some real analysis and come up with verifiable evidence of this independent wealth they are claiming the CP has.

Where are the audited , filed accounts of successful companies?
What internet presence is there apart from a knocked together web site ?

[fenners66] 20/11/2020 10:09

But of course he would say he does reading between the lines analysis

Well how about reading between these lines ... also from the company report

It became known to Petrel that prior to 31 December 2019 the Tamraz group had offered the tranche 1 shares in Petrel as collateral to lenders.

This was in breach of lock in terms which were attached to those shares.

In addition during December part of the tranche 1 shares were transferred to a third party,

further breaching the terms of the lock in agreement in relation to those shares.

The Tamraz group also failed to pay proceeds due in relation to the tranche 2 shares within the timeline required by Petrel. As a result of these factors the tranche 2 shares were considered forfeited and were cancelled by the Group subsequent to year end

Those "facts" tell him nothing ?

[fenners66] 20/11/2020 10:03

More of kd's analyst skills

16 Nov '20 - 16:51 - 17948 of 17963
....[apart from the €800k in cash they invested in Petrel


Whereas the annual report states

"On 30 July 2019 a total of 44,788,913 shares (“tranche 1 shares”) were placed at a price of 1.25 cents per share."

Which is € 559,861

So just Wrong by 43% !

If that's a measure of his business "analyst" skills ...... ?

[peverill] 20/11/2020 07:37

Where do Petrel keep finding these snake oil salesmen.How many people have they brought in over the years to "open some doors" only to get shafted,you would think they would have learnt by now,apparently not!!!

[lippe] 19/11/2020 20:32

Dave and Johno are going to get their lolz substantial transaction next week ...

[bountyfull] 19/11/2020 18:55

On the implementation of Step Two of the Transaction, Mr Roger Tamraz, Mr Michel Fayad, Mr Said Mehraik and Netoil (Lock-in Parties) will be the owner of 47.51 per cent. of the Enlarged Share Capital. Pursuant to an agreement dated 30 October 2019 made between (1) the Company, (2) Mr Roger Tamraz, (3) Mr Michel Fayad, (4) Mr Said Mehraik, (5) Netoil and (6) Beaumont Cornish (Lock-in Deed), the Lock-in Parties, agreed to enter into certain restrictions with regard to the disposal of the Ordinary Shares in the Company held by them (including Placing Shares acquired in the July Placing and the New Ordinary Shares) to ensure, inter alia, that each of Mr Roger Tamraz, Mr Michel Fayad, Mr Said Mehraik and Netoil will not effect any disposal of the Ordinary Shares held by them during the lock-in period being the earlier of 12 months from the date of Admission or the date of completion of a Substantial Transaction

I am indeed RNS challenged but grateful for your help - not that it makes any difference because the shares cannot be sold because of the injunction.

[fenners66] 19/11/2020 17:34

I like this bit

"so unlike other shareholders will not be able to trade their shares "

I.e. dump them as soon as....

It's as if they are acknowledging as long ago as 1-11-2019 that they are at a disadvantage not being able to get rid , unlike other shareholder , who could.

Well in hindsight dumping 1-11-2019 would have got between 5.25 amd 6.68p a share which as we can see is a lot more than they are worth today.....

[fenners66] 19/11/2020 17:27

"bountyfull
19 Nov '20 - 13:25 - 13839 of 13839

The second tranche of shares that gave rise to the RNS dated 29 November 2019 have been cancelled so cannot be traded. The first tranche of shares have passed their lock-in expiry date of 5 August 2020"


You really should pay more attention to PET's RNS's.
I had already posted this , but since you are RNS challenged I am happy to help.

PET RNS - 1/11/19
"Netoil and the principal members of the Concert Party (being the Locked-in Parties) have agreed to be locked in for a period being the earlier of 12 months from the date of Admission or the date of completion of a Substantial Transaction so unlike other shareholders will not be able to trade their shares (including those subscribed in the earlier July Placing) until it is clear what benefit they have brought, as hoped, to the Company."


Agreed to INCLUDING the July placing - be locked in for 12 months from the date of admission - which was the 25th November ...... or earlier if they complete a substantial transaction.


So what's all this B/S about the 5th August ?



They still have a few trading days left to get a substantial transaction over the line..... and allow themselves a slightly earlier get out.....

Funny that almost a year ago I was questioning when the lock-in year was up.

Almost as if that would end up being the relevant date rather than the fantasy of a substantial transaction.... I wonder how I could come to that conclusion ?

[bountyfull] 19/11/2020 13:25

The second tranche of shares that gave rise to the RNS dated 29 November 2019 have been cancelled so cannot be traded. The first tranche of shares have passed their lock-in expiry date of 5 August 2020 and cannot be traded because of the interim injunction.

f66 believes this will play out one way I believe it will play out a different way. With Tamraz and Fayad each owning 14,934,615 shares they will be interested in reaching an agreement that discharges the interim injunction so that they can move forward.

We shall see....

[fenners66] 19/11/2020 10:37

So its getting close to the one year anniversary of the CP lock-in, just 10 days or so to go.

I believe that is the end of it - that the temporary injunction to enforce it - is not there to extend it indefinitely.

Coincidently the share price has fallen to about its lowest for a year or more....

We shall see....

[exile] 19/11/2020 08:28

People here often say "If we get news, you won't get in at under ...blady blah blah 10 quid or whatever" As a point of interest, try closing a position right now... if there was a rush for the door you probably wouldn't be able to get out at over 1p ???

[kdickson] 18/11/2020 22:10

Lol exile :) I'm just on this forum to share ideas, info, opinions, humour, research, bantz, hopes, etc...all with a positive slant.
What's your slant? ;)

[kdickson] 18/11/2020 19:15

Are you taking the 'Oui Oui' exile? ;)

[exile] 18/11/2020 18:36

News out from Paris yet ?????

[sabine4] 18/11/2020 11:18

OK, AliCat1, thanks for the explanation.

[alicat1] 18/11/2020 11:08

Sabine, not a lot to do with PET, but every now and then the historic PET posters The Chairman Elect (DW) and Skiboy push a share or an IPO. Get the timing right (i.e. sell into the rise before the ramping ends, not after the spike) and you can sometimes make a few quid on these.

[sabine4] 18/11/2020 10:27

Err... What have the two above posts got to do with Petrel? Can we please stick to the thread's purpose?