Petrel Resources Share Discussion Threads

[bountyfull] 01/12/2020 19:03

Let's face it kd's theory has more of a possibility of happening than the PET board getting a deal on their own! Bring it on I say.

[holdingtight] 01/12/2020 18:59

Of course there is serious regulation around banks - so anyone owning a bank, or in control of a company that owns a bank, will be subject to regulatory approval. The whole deal has a long way to go, and is not assured even if funding is secured.

[the sage] 01/12/2020 18:57

All sounds good Ken. I'd settle for an oil contract in Iraq, and let's not forget Ghana where Michel had done some good work before he stepped down from the board.

[elmfield] 01/12/2020 18:53

You are just havin a laugh KD?
Petrel shareholders, I’m one, may be stupid but not
that stupid, surely?

[ducky fuzz] 01/12/2020 18:53

I'm not wrong am I ?

[elmfield] 01/12/2020 18:52

😂🤣😂🤣
So true ducky!

[ducky fuzz] 01/12/2020 18:49

I think most would want to see PETrel's share price around 30p-50p before they'd support the new bank venture.

After what has happened so far I think there would be trust issues.

[kdickson] 01/12/2020 18:46

Just conjecturing. Might not be that at all. But who knows what the details might be.

It just sounds like Tamraz may be talking about a rights issue for existing Petrel shareholders to participate in. The funds would be used to pay the EuroBic shareholders (of whom 47.5% have signed with Tamraz so far...presumably he wants 51%+).

With the Boards agreement, new Petrel Directors would be appointed (Tamraz, Fayad, etc), all outstanding shares issues would be resolved and the TG would have control, immediately bringing in the promised huge assets into Petrel to 'reward' everyone and hopefully far outweigh any dilution effects. We'd still be in with a chance of several pounds a share.

Meanwhile, existing UK registered holding company Netoil Group Limited (or perhaps the other Netoil Ltd company) would become the holding company with separate subsidiaries of Petrel Resources (to handle all natural resources assets) and EuroBic (to handle all financial aspects of the group).

[the diddymen] 01/12/2020 18:21

Fenners

PET is a narrative Company. Perfect for trading, but nothing else.


TD

[elmfield] 01/12/2020 18:19

B#ll#cos to that,
Not catch me chucking good money after bad.

[kdickson] 01/12/2020 18:15

Tamraz will obviously need to pay the EuroBic shareholders for their shares he's signed up for (and still acquiring). It sounds to me, in the article, that he's perhaps suggesting that 20,000 shareholders (in Petrel?) may be asked to fund the purchase. Now, what stock market mechanism is there that allows existing shareholders to be invited to purchase additional new shares (thereby raising funds)?

[ducky fuzz] 01/12/2020 18:09

Yes read it .. still do not understand how he will buy the bank.

[kdickson] 01/12/2020 18:05

See my post at 17:48 :)

'He' won't be buying the bank (not directly at least).

[ducky fuzz] 01/12/2020 17:59

Yes but Tamraz said he was not using his own money .. How will he buy the bank ?

[kdickson] 01/12/2020 17:55

Think 'holding company'.

A holding company is a business that exists to deal with the assets of other businesses, and to invest in and manage other businesses. They are private limited companies with their own shares, and they normally undertake activities that do not involve the sale of products or services. (AIMHO remember)

[ducky fuzz] 01/12/2020 17:49

Yes .. so you ARE saying the bank will go into Petrel ?????
Who else could he mean ?????

[kdickson] 01/12/2020 17:48

If you re-arrange Tamraz's words in that above article, it effectively reads as:"I am talking about an investment by more than 20,000 shareholders through the stock exchange." 

[kdickson] 01/12/2020 17:42

Petrel of course:). Has a dual listing.

[ducky fuzz] 01/12/2020 17:41

Kd .. so what do you mean in your 17.28pm post ?

[kdickson] 01/12/2020 17:39

That was one of my initial thoughts but my guess is they will be kept as seperate subsidiaries.

[ducky fuzz] 01/12/2020 17:29

kd .. do you think Tamraz will reverse the bank into PETrel ?

[kdickson] 01/12/2020 17:28

Putting aside the liberal use of the plural 'companies', which company do we know with a listing in both London and Frankfurt?

[ducky fuzz] 01/12/2020 17:28

He's doing a Glazier (Man Utd).