Petrel Resources Share Discussion Threads

[fenners66] 02/7/2021 09:18

"Potential " "Prospective"
"Currently 80% owned by my private company"

Well no one is ever going to talk down potential , that is privately owned are they ?

But what's this ?
The "Billionaire" needs , yes NEEDS financing of $4m this year, presumably that has been the same for several years , and $20m altogether.

So what does he need PET for then?

Can you see what it is yet ?

[scunny bunny] 02/7/2021 08:53

Im thinking we should begin proceedings with a vote of no confidence in the Board.

what have we got to lose

[lippe] 02/7/2021 08:35

Collectively, we out vote the board by some margin. They have to give us the opportunity to vote on the CP offer!

Like little lemmings jumping off the cliff ...

[the sage] 02/7/2021 08:24

Collectively, we out vote the board by some margin. They have to give us the opportunity to vote on the CP offer!

[the diddymen] 02/7/2021 07:09

"IT COULD OBVIOUSLY BRING POTENTIAL VALUE TO PETREL RESOURCES PLC WHICH IS STILL KIND OF SHELL COMPANY." Roger Tamraz

A question for Roger - What is the value of a 'kind of shell company'?

A question for shareholders - How should you remunerate a BoD of a company that has aggregated losses of €23.4m to achieve a 'kind of shell company'?

[f31] 02/7/2021 02:46

As per the recent Chairman's Statement, the Board has not accepted the RNGG-licenses proposal by the Tamraz Group, which was their latest effort to reach an agreement with Petrel.
In fact, the Board now wants to “move on”, and instead focus once more on own chances in Iraq.

After now 20+ years of not having managed to get any valuable contract in Iraq, a very sizeable group of shareholders (representing 23% of total shares in circulation - often long-term holders) feels that the chances of Petrel getting a contract in Iraq on their own accord don’t look very strong at all, and certainly not at a moment where even Iraq’s own Minister of Oil very recently indicated that Iraq is an almost impossible environment to get any decision over the line.

The above was the context in which shareholders grouped together and all co-signed a formal letter to the Board of Petrel, asking for the exact reasons why the Board had not accepted this latest Tamraz Group offer / if they had any realistic hope on alternatives to create value for shareholders / and effectively expressing that a large group of shareholders was now in favour of the Board trying to secure a Tamraz Group involvement in Petrel - as that would most-likely give us the best shot by far on any future success, considering Tamraz Group’s massive relevant contacts, their track-record of delivering massive projects, and as well their Assets.

David has responded to our formal letter to the Board last week.
However, his responses raised a number of questions that required some further clarification.
We asked David last Monday but have not yet heard back.
We will of course share David’s responses with the co-signers as soon as they are completed.

Triggered by David's initial responses however - on Tamraz Group in general and specifically his feedback on their RNGG proposal - we thought that it would also be helpful if we reached out to Roger Tamraz to ask him some questions about his latest offer, so that we could prepare for a constructive discussion with to the Board at the forthcoming AGM.
We were very pleased that Roger Tamraz agreed to answer our questions, and in fact we have meanwhile already received his answers.

You can find our questions and Roger’s answers in my post directly below.
As was the case for us, we hope that Roger’s answers will encourage all co-signers to keep favouring the choice for Tamraz Group involvement in Petrel, rather than almost certainly going nowhere on our own accord in Iraq, and potentially for a long time (and several necessary dilutions) to come!

See post directly below

[1teemore] 02/7/2021 02:12

The Diddymen- five of the last 8 posts!

[the diddymen] 01/7/2021 18:59

....so when does the cash run out?

[lippe] 01/7/2021 13:06

Daves jibba jabba sits outside of a space-time continuum, 2 years, 2 decades or even 2 millennia ...

[the diddymen] 01/7/2021 10:10

f31 - the CP need to tighten things up. That said the CP do not look like a group who should own a banking licence in Europe. Time will tell.

[fenners66] 01/7/2021 10:07

From La La Land...

f31
1 Jul '21 - 10:01 - 19414 of 19414
"Not at all.
The CP has meanwhile confirmed that the article is not correct"

Where have they done that , quote the source.
They have removed any Eurobic reference from their Netoil (thrown together) website...


90 days just give them 90 days they said almost 2 years ago !!

[f31] 01/7/2021 10:01

Not at all.
The CP has meanwhile confirmed that the article is not correct

[the diddymen] 01/7/2021 08:01

BB absent for an update.

The original strategy was dependent on the cp acquiring Eurobic.

An informal shareholder action group recently wrote to the PET board promoting the cp.

From the Eurobis news it looks as if the shareholder action group may have been given a duff steer.

Discuss.

[lippe] 01/7/2021 07:19

It's time to euthanise the family PET and Dave ...

[bronislav] 30/6/2021 16:31

Tamraz,s other plaything Ross group rose today on 20thousand buys and significant sells .work that one out!

[fenners66] 30/6/2021 09:21

Who would have thought it ?
Who would have guessed that despite all the fantasy banking ideas , it would all come to nothing ?

We did !

But the dreamers gamblers and apologists would not listen.

Now PET's BOD have obviously had enough of undelivered ideas and promises, even them ! Yet the hooked still put their faith in the CP. ........

[lippe_mk2] 30/6/2021 09:00

Banking smoke and mirrors to keep feeding the dreamers and fraudsters....lolzzzzz

PNB (Latvia), Eurobic (Portugal), Merit Capital (Belgium).... no more mention on their website.... as easy as pressing delete.

"Roger Tamraz leaves race for bank purchase......About this process, there is also news. Netoil, of Lebanese businessman Roger Tamraz and who already had an agreement to buy isabel dos Santos' 42.5% position, stopped talking to the bank in January and in April shareholder Sebastião Bastos Lavrador realized, through his representative, that he was not in negotiations with Tamraz for the sale of his 5% position. A situation in relation to Netoil: "No due diligence process has been initiated by this entity,and it has never been given access to any non-public data," the bank said."

hxxps://eco.sapo.pt/2021/06/29/eurobic-poe-de-lado-5-milhoes-para-processos-relacionados-com-luanda-leaks/

"NO DUE DILIGENCE" or "ACCESS" by the billionaires - you couldn't make it up lolzzzz

The con-trick must surely be wearing a bit thin by now. Perhaps write another letter just to be sure?

Where to next.... Congo has a fine banking sector and regulator.....and once the bank is secured, the assets will flow in 90 days.......lolzzzz

[the diddymen] 30/6/2021 07:33

4 posts in the last week, just waiting for the Last Post now.

[the sage] 28/6/2021 15:12

Well I never!

[palace pete] 28/6/2021 10:22

Good move on Kav lots going on and we're kept up to date with all that shareholders need to know.Sorry for intrusion

[lippe] 28/6/2021 07:47

What an ignominious end for Horgans righthand man ... eaten by lolz shareholders