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PET Petrel Resources Plc

1.35
-0.20 (-12.90%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Petrel Resources Plc LSE:PET London Ordinary Share IE0001340177 ORD EUR0.0125 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.20 -12.90% 1.35 1.30 1.40 1.55 1.35 1.55 362,572 15:06:14
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 0 -311k -0.0020 -6.75 2.12M
Petrel Resources Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker PET. The last closing price for Petrel Resources was 1.55p. Over the last year, Petrel Resources shares have traded in a share price range of 0.85p to 3.45p.

Petrel Resources currently has 157,038,467 shares in issue. The market capitalisation of Petrel Resources is £2.12 million. Petrel Resources has a price to earnings ratio (PE ratio) of -6.75.

Petrel Resources Share Discussion Threads

Showing 34626 to 34650 of 37475 messages
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DateSubjectAuthorDiscuss
07/7/2021
11:15
AJJ.I'm only guessing but it has some logic behind it.It's clear now that Pet aren't going to be able to move forward until the CP is resolved and given the recent answers posted on here from Mr Horgan i can't see any resolution soon.Stalemate and how do pet get rid of Tamraz.
bronislav
07/7/2021
11:07
Fair call and I hope you are right
ajj2003
07/7/2021
10:53
Ajj.I disagre.Clon have said they have a bid on a nigerian marginal with a consortium.That consortium will likely have more clout and maybe less baggage than The Tamraz Group.Tano would surely be attractive to that same consortium.Problem is Tamraz has some skin in pet and pet has some skin in Tano.
bronislav
07/7/2021
10:49
Only positive movement relating to Ghana in recent times was due to Netoil contacts. Without them it is going nowhere as Petrel / CLON does not have the clout on their own to get a deal.

It is CLON’s other projects that may see progress imho so hope it comes good for everyone there ;)

ajj2003
07/7/2021
10:33
With JT changing his position and likely stepping down from pet I wonder what is the long term goals for pet.Surely Mr Horgan and Mr Teeling will have discussed all the clontarf group of companies.Being realistic Iraq is a basket case and the only other thing of possible worth is the 30% of Tano.There may be an argument for Clontarf to swallow up Pet somehow or at least resolve the ghana percentage as any group wanting to partner on Ghana with Clontarf would find the 30% in Petrel as a problem.
bronislav
07/7/2021
10:13
If Horgan does move on I expect what he takes with him will be worthless. History speaks for itself. The large debt we are holding should prove attractive to a company that is generating revenue and will have a better management team.

Very sorry to read about your loss PP. Many are in the same boat, including me, but as David says it is all our own fault.

bountyfull
07/7/2021
09:20
JJ I have been getting less and less enamored with the board each passing year month and now days. I have trimmed my position by 90% over the last 5 years until I was caught up in the spike to 26p. I have since lost all faith in ever getting anything of my 72k loss back and will leave what I have in holdings to diminish with what was at one time my retirement dream.
palace pete
07/7/2021
09:03
Some of the believers finally changing their minds?


"bountyfull
6 Jul '21 - 18:00 - 19467 of 19472
That's true elmwood. I would never invest in another 162 Group company!"

"The Sage
6 Jul '21 - 20:27 - 19470 of 19472
Pauly80, our AGM is three weeks today. Expect excuses."

I think the word is gamble not "invest" and I guess its too late for the sums already gambled and since the only possible way of getting out at break even or a profit , is convincing someone else to buy them , hence the continued desperate positive posting , even if they have no faith.

But that means finding some other uninitiated punter. Its those we have been putting the alternate view to for what ...20 years ?

fenners66
07/7/2021
08:09
If you call an SGM, what would you like to achieve? If JT goes you only have Horgan to step up. Do you want his head on a plate? Then there will be nobody left to run it, and any outsider will not have the historical knowledge of contacts to pick up the reins. Having been invested in Clontarf companies between 2000-2009 I can guess the next step after that. Just before Horgan resigns a new company (Iraq Resources or something similar is my guess) will appear and magically take all the (now worthless on paper) deals and agreements from Pet which will then quietly die. You could take a guess at who the new company directors will be.

I learned my lesson over ten years ago and haven't touched one of their companies since, but I've watched from the sidelines as the same old clichés have been run out time after time, RNS after RNS, AGM after AGM, all jam tomorrow and yet more people have fallen for it. It still makes me angry though as some of the posters from the early years are still here, good guys all, sucked in like I was but now with no way out. Then to read the absolute disdain for shareholders in that letter made my blood boil.

I would also be very wary of Mr Tamraz. Spend a good while doing background checks across the internet and some of the stuff that comes up sends clear warning signs. The Portugese don't want him anywhere near their banks (maybe having seen what happened to his Lebanese bank tipped them off?). I'm waiting for the book to arrive by the ex-CIA spook who had dealings with him, the excerpts were very interesting. He comes across to me as Del-boy on steroids. Track down some of his co-directors in his ventures, that makes interesting reading as well. His deals so far that have resulted in many millions of Pet shares being in his hands for not a lot of money have been very shrewd indeed. If you get him involved I suspect he will show up the existing BOD as a bunch of rank amateurs at extracting money from shareholders and leaving them with worthless paper.

I wish you all good luck and hope it works out for you but I fear not.

jungle jim
07/7/2021
06:31
After decades the La La's are finally waking up.

We told you so ......

fenners66
07/7/2021
06:20
Rock and a hard place really.

Not good.

the diddymen
06/7/2021
19:27
Pauly80, our AGM is three weeks today. Expect excuses.
the sage
06/7/2021
18:30
Pauly80, that's interesting to hear the perspective of people in senior positions and their shocked reactions. Reminds us of what situation we have been conditioned into accepting for so long.
kdickson
06/7/2021
18:25
Thanks sage. I am not familiar with next steps but as a shareholder group what more do we need them to do to call a special general meeting?

With all due respect surely this should now be our focus especially after the disdain demonstrated by DH?

Should we say that if we do not hear back from DH after say 3 weeks then that should be our next step? Just my view

pauly80
06/7/2021
17:00
That's true elmwood. I would never invest in another 162 Group company!
bountyfull
06/7/2021
16:24
Hi Pauly80. I mentioned a few days ago that we collectively hold a lot more shares than the BOD do, about 23%. This gives us enough votes to call a Special General Meeting if one is required. I believe that JT is looking to retire soon. If a vote of no confidence is called, I'm sure that he wouldn't want to leave under that cloud!
the sage
06/7/2021
15:46
Bountiful - I agree. This blatant rudeness and disrespect was completeley avoidable had we been dealing with somebody professional and had some decency or genuine appreciation of shareholders. However Dh’s reply was probably ‘diplomatic217; for him so his inner feelings must be even more rude for his shareholders. I have read it a few times and have shown it to a few friends of mine who are in senior positions. All were shocked when I told them the context. They said in a normal business environment the chairman would be investigated and a lack of confidence vote very likely
Sadly Pet appears to be beyond accountability and we are all considered lemmings. This makes me very ANGRY,SAD and rather helpless having been so heavily invested here. What is your view SAGE and F31?

pauly80
06/7/2021
15:29
Once bitten twice shy.
elmfield
06/7/2021
14:25
The rats have turned on mendacious dave ...
lippe
06/7/2021
10:39
After reading all the posts what jumps off the page for me is that the Board could have easily managed this differently. If they had provided clarification when requested we would be in a different position. The Board seem to have little respect for their shareholders. It's within their gift to correct this.
bountyfull
06/7/2021
09:46
F31 - reading that reply from DH which was full of contempt, disrespect and disregard made something very clear to me. This company is lost and in a permanent state of limbo. They don’t believe in their projects and know full well they are stringing shareholders on.

I know deep down I full of blind desperate hope as am making such a massive loss. When you have lost hope you try to convince yourself of a miracle and read into things and look for clues such as people like bransilav. Always talking about ‘feelings̵7; and ‘gut reactions’ - all signs of desperation (like me).

What I can’t believe is the responses we received from DH. Reminds me of how trumpet would have replied. He knows full well we can’t do anything and have no power. He is not even 1% worried as is in his his high tower and untouchable.

That reply from him signified the true nail of the coffin for pet.

pauly80
06/7/2021
09:46
WHO are EYCP ? A salient question...surely ?
exile
06/7/2021
09:33
f31, wants everyone to ignore the difficult questions and ignore the advice of the company directors he has had his faith in for 25 years.
Instead he wants to put faith in an unproven entity that has a recent years track record of in their words "perhaps breaking company law" and certainly not delivering on the RNS'd promises to the Scandinavian listed company.
f31 clearly has no clue who EYCP are and I guess , does not want to find out.

What happened to the promises of just "90 days"?
Why were the shares sold to the CP on CREDIT ?
Since they were sold on tick , why did they not pay up on time ?
Why 18 months later have they still not paid?

As DH is reported to have written - if they only have to find £250k to release £1.1m of shares why have they not done so ?

I asked that a 15months ago.

After all it REALLY is FREE money , no ?

RT is described as a billionaire , so what does he need PET or Ross Group for ?

Both companies are on their uppers.

All these and many other questions , will not be answered , in this weeks episode of SOAP........

ps Alien Burt was much more convincing.....

fenners66
06/7/2021
09:22
Can I ask everybody during this important discussion to not react but instead simply ignore Fenner's posts (and under whatever other alias he is posting his nonsense), as it will only pollute a constructive discussion between the real shareholders.

The important thing for shareholders is to as good as possible inform themselves about their possible future chances with Petrel continuing its long standing strategy, versus the option of Tamraz Group involvement.

It is not important for shareholders to react in any way to a nitwit, so simply filter him and all his other aliases - you won't miss out on anything important.

f31
06/7/2021
08:37
fenner66 over on "The Dark Side" has made some interesting comments regarding this fiasco and I hope he dosn't mind if I repost some of his comments here.

fenners665 Jul '21 - 19:55 - 14402 of 14407
0 0 0
Wow !

Got to say La La Land makes good reading tonight.

What is the phrase ? You can't kid a kidder ?

If after those blunt answers the Gamblers (perhaps no longer BOD apologists, instead CP apologists) still would rather put their faith in people that - the letter is reported to have said, may have broken company law and have no title , no funding , only cheap talk..... then ....
there really is no hope for them !

On this board we asked the pertinent questions and came to similar conclusions 18 months ago !

But the La La's would not listen !

If F31 thinks that he has heard the "real" story from the CP - does that mean he can tell the whole world exactly who EYCP are ?

EYCP are supposed to be a "hedge fund" - YET they have ZERO internet presence.
NO known offices - a possible caribbean address , not substantiated.
Who owns this Mystery company ?
What funds did the CP borrow from it?
Has the CP profited from the sale - if it repays their borrowings then they have?

ALL these basic questions were asked on here ages ago but the CP Apologists turn a blind eye.

IF DH cannot give away the company to them surely its time to wake up and smell the coffee ?

exile
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