Petrel Resources Share Discussion Threads

[the chairman elect] 11/6/2021 09:31

Yeah aye know - it was a TROLL

[f31] 11/6/2021 09:30

Chairman - just to be sure to be clear :) - that wasn't me!

[the chairman elect] 11/6/2021 09:30

Whilst it is always a very good idea to put BODs under pressure f31 my recommendation would be to keep it totally professional and respectful especially in relation to JT

On that note I believe that there could potentially be a very decent outcome as long as the debate is constructive!

[the chairman elect] 11/6/2021 09:27

and post 19341

[the chairman elect] 11/6/2021 09:25

Thanks to the TROLL for the red tick in post 19334

[the sage] 11/6/2021 09:18

I love the colour blue. Not many Liverpool supporters will admit to that.

[ander] 11/6/2021 07:06

Hi Sabine, hope you are well. Good to hear you are making some money with KAV, unfortunately I am not in there. How's the writing going ?

[ander] 11/6/2021 06:57

f31 - Please add me to the letter, KD has my details.

[f31] 11/6/2021 03:41

No. of shareholders = 25
Total no. of shares = 11,555,295

Ken - that is a great success!



25 co-signing shareholders is a strong statement in itself, when sending this letter.
And the fact that the total number of shares is now higher than the BOD's own combined total of 11.41 million, is also an important factor in my view.
Altogether it warrants enough respect by the Board.


I call on all shareholders that would appreciate a good AGM discussion with the Board on the best way forward for Petrel, to join your 25 fellow shareholders, and also co-sign this letter.

[f31] 11/6/2021 03:01

Teemore –
John is a man of integrity – that is my sincere opinion.
And considering their rather doubtful history within this intended take-over, I can fully understand where you come from when you say you would take John’s advice, before any of the Tamraz Group.
But – in a way – have we not done exactly that, for 25 years, without any resulting success?

Perhaps this sounds somewhat unfair or a bit “popular”; – but isn’t it also fact?
I have been extremely loyal to the Board during 25 long years, despite having lost well over 100K.
But how far can - or should - loyalty go ??


Last AGM, John said that Roger Tamraz had connections that Petrel could only dream of.
That Tamraz could pick up the phone and could talk to anybody in the world he wants to, whereas we would have serious enough challenges even only to get to speak to the doorman of the building.
Plus the resulting track record is there as well – e.g. the man that realized building the Suez pipeline as just one of his many many results.

There is no doubt whatsoever that Tamraz Group has made a complete mess of the take-over.
There is no doubt whatsoever that our Board has successfully protected us from the fallout from that mess.
There is no doubt whatsoever that our Board has at all times acted with great integrity in this matter.
Perhaps unlike Tamraz Group, I have no idea. I don’t know everything that happened.
But this is not about morals alone – this is also about our hard-earned investments that are on the line.
And as investors in the company, we should be pragmatic about our investment, and evaluate which way forward might give us the best shot at recuperating our losses, regardless of how we got to this low point.

Perhaps our best shot is indeed still via John’s indicated “return to Iraq”.
But that has been the same road for 25 years.
So I am considering our extremely unsuccessful history there (despite various moments during the years where the Board thought we were nearly there), while in contrast there are hard-fact license offers on the table by Tamraz Group, and I would like to hear from the Board what exactly is wrong with these.
Because perhaps Tamraz’ worldwide connections and track record might by now give us more of a chance than going around in circles in Iraq - over and over again.


And to the “Chairman Elect”
You know what, I don’t really care which possible take-over partner is the most "decent".
After 25 years and a significant loss, my preference is for a partner with the best potential to recover some of my losses - or who knows, even put me in profit.
And given that John would most likely retire from the Board after a take-over, then the level of decency of his successor is no longer really his problem or responsibility either.

[1teemore] 10/6/2021 22:46

The Chairman Elect- you are correct in that their behavior so far as been more akin to what one would expect from a group of chancers. I would take advice from JT before any of that lot unless/until they otherwise can prove themselves.

[the chairman elect] 10/6/2021 22:23

Hey bountyfull just to correct your post as I never stated that JT wanted to resign but that he wanted to fully retire obviously with PET sorted

What does sorted mean? It means IRAQ + RTO with decent Oil & Gas players looking for a listing etc

The other lot are history unless they seriously up their game plus note the word decent

If this happens then then there will be a new BODs

[holdingtight] 10/6/2021 22:07

Thanks for all your work on this KD. Much appreciated.

[kdickson] 10/6/2021 21:54

The latest total of shareholders (and their no. of shares) who support the letter is:


No. of shareholders = 25
Total no. of shares = 11,555,295


This is mainly ones who have proactively messaged me and a handful that stated their intentions on the public boards.

I will start to reach out to the other 20 or so names on my list over the next few days. Potentially another 2 to 3 million shares.

[kdickson] 10/6/2021 20:42

Thanks Poco and 1teemore - adding you to the spreadsheet now :).

[1teemore] 10/6/2021 20:31

KD has mine, nothing has changed, include

[poco a poco] 10/6/2021 19:38

I think KD has all my details from last time.
If you need them again let me know.
Count me in.

Thanks to all for trying to get this thing moving.

NB. Scientists have just found some life frozen in arctic ice for 20,000 years.
They thawed it out and it came back to life.
There's hope for Pet yet !

[lippe] 10/6/2021 18:08

If Tampax and Johno were farm dogs they be bagged up and heading for the river about now ...

[fenners66] 10/6/2021 17:19

Michel Fayad is not listed in the about us section of the Netoil website, half a dozen others are.

He resigned as a director from Netoil Ltd on the 30th April.....

He is listed as a Director of Netoil Capital Ltd - but Tamraz is not , is there any connection between the 2 companies , there are other unrelated companies with Netoil in the name.....?

[fenners66] 10/6/2021 17:12

Meanwhile in La La Land

"The Sage
10 Jun '21 - 11:35 - 19324 of 19328

Michel has told me that the CP are willing to offer Pet a stake in their Russian asset or in their company in Euronext. I don't know what the Euronext connection is worth, but I believe the Russian assets has the gas equivalent of 9.1 billion barrels of oil."

If he did, surely that could be Price Sensitive Inside Information ?

The exploration licenses are referred to on the Netoil website...
so what?

PET used to tell all about Block 6
PET and CLON have "license" for Tano .... cough , cough....

What are any of these worth?
Controlling stake in PET instead of the £0.5m Cash they were going to put in ?

They bought the shares on credit , and then failed to pay for them.
They said give them 100 days ( we are led to believe by posters on here) then Nothing happened.

The BOD have obviously much more access to information than Sage and they have rejected everything so far....

Not surprising since the CP or is it the "French" stopped delivering..

Why if Tamraz is a Billionaire does he need tiny micro caps PET , ROSS and Netoil Capital taking over a loss maker?

One can say that coincidently the share price of these micro caps rises when his involvement is announced....

[the sage] 10/6/2021 16:25

Hurrah. Nice bit of blue to end the day.

[f31] 10/6/2021 14:53

10 Jun '21 - 11:35 - 19324 of 19326

Sage - that really is an excellent post !!

It makes it very clear that we should ask the honest question of how exactly turning away from Tamraz now is in the best interest of shareholders?
Especially considering the everlasting status-quo we are in - both with Tamraz but ALSO in Iraq.

Maybe the Board has very valid reasons – you would think so.
Maybe it is in details that we don’t know.
But then let the shareholders understand it properly as well, because it is OUR investment that is impacted by BOD decisions.

These are honest questions in the letter, and there is absolutely no controversy in asking the BOD for explanations.
So I am hoping that more shareholders are interested enough in knowing more about it all, and will co-sign our request to the BOD.

[sabine4] 10/6/2021 13:59

Palace Pete,
Yes, Kav is really on the way up. Thank you so much for making us aware of it, my investment in them is already 45% up. Eternally grateful to be able to claw back some money from the market at last. I really hope that Pet follows suit soon.