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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 34651 to 34670 of 37475 messages
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DateSubjectAuthorDiscuss
08/7/2021
10:12
Never ...
A case of don't get high on your own lolz supply ...

lippe
08/7/2021
08:43
For those who dare not venture to "The Dark Side" here is an interesting post I hope fenners66 dosn't mind.

fenners667 Jul '21 - 19:22 - 14419 of 14421
0 0 0
For those like me , looking for any reference on the internet for EYCP a supposed hedge fund.....

I have finally unearthed a document about EYCP.....

Drum roll please....

remember there are 10,000 hedge funds competing for business and profile is everything.....


EYCP - Emancipated Youth Connections Project (EYCP)

from the National Institute for Family Connectedness

There you have it , not quite what I was expecting ......

exile
08/7/2021
08:42
...oh and remind me how often the Directors have invested in rights issues of the last decade...
the diddymen
08/7/2021
08:41
The key question is how can a Harvard educated person fail to carry out effective due diligence on Rog?

The next question for shareholders is whether the failure to identify the risks of Rog to PET's strategy indicate whether the same decision takers are competent to design and implement the company strategy (as opposed to personal strategies!)?

the diddymen
07/7/2021
22:38
f31-You can rest assured that I do not care less, who or where, the board is made up off, as long as they can deliver. It will be interesting to see what happens at the AGM, or indeed what is the strategy going forward, or if indeed there is one.
1teemore
07/7/2021
20:25
Dave and Tamraz the last two rats left in the barrel ...

Johno's already got the suitcase packed ...

lippe
07/7/2021
18:22
For those like me , looking for any reference on the internet for EYCP a supposed hedge fund.....

I have finally unearthed a document about EYCP.....

Drum roll please....

remember there are 10,000 hedge funds competing for business and profile is everything.....


EYCP - Emancipated Youth Connections Project (EYCP)

from the National Institute for Family Connectedness

There you have it , not quite what I was expecting ......


come on f31 tell us the structure , who owns this "hedge fund" , where they operate , what are their biggest done deals, who do they employ, where is their website, how do they attract new clients etc etc..

It's the important piece of the jigsaw .....

without it .... you can't ..... see what it is yet.

fenners66
07/7/2021
17:27
Daves head on a plate for starters ...
lippe
07/7/2021
17:13
Teemore:
EYCP is claiming over GBP 1.3 million from the CP for default of that dubious loan facility contract (MLA) - note, a loan facility of which never a penny was drawn by Tamraz.
(talking about a scam: the contract was set-up to fail (according to David himself in The Currency), and then suing for an extreme amount of compensation for something that hasn't cost you a penny !)

EYCP is still claiming this amount, and the case is before the US Supreme Court (NY).
Due to Covid, same as e.g. here in Ireland, court cases have not been heard for extensive periods, so that case is still ongoing.
(EYCP is the claimant)

As long as this is ongoing, it makes it difficult to clear up that mess, unless of course the Board would be open to a more pragmatic approach on the shares issue.

Is it wise to jump into another deep hole, location unknown?
Well, what do we actually have left to protect ???
Another 20 years of most likely nothing ??
A share price that has already been lost and means almost nothing anymore ??
Accepting the RNGG offer would give us at least a very realistic chance to get back to 25p or even more, as it did before.
When comparing this to what David's own expectations seem to be, I frankly couldn't care less who the Board is, or what their manners are, or what location they are in.
ANYTHING is better than an almost certain "nothing! and losing our investments.

One can always run for the door after cashing in some recovery, should one not be comfortable to stay in :)

f31
07/7/2021
16:02
I would be happy with Tamraz if he cleared up the strange mess he made with his share allocation/transactions. We may be in a deep hole(hopefully not)but is it wise to jump into another deep hole, location unknown. Obviously the best outcome would be if outstanding issues were resolved to the satisfaction of all parties including shareholders. I do not pretend to know the facts and no advise intended.
1teemore
07/7/2021
16:01
Im not sure what they think they can achieve .. situation is a stalemate, what could be done differently on PET behalf to move things?
currypasty
07/7/2021
15:54
The 23% need reminding , they are a minority , if they think they can give the listing away to the CP they can't.

Beggars belief

fenners66
07/7/2021
13:58
Alaskan1, thanks for your reaction and sharing your thoughts.

Hopefully more shareholders will do the same and let us know what they think of all of this !

f31
07/7/2021
12:59
I think it is time for another team to manage PET and with RNGG on the table I'd be happy with Tamraz.
bountyfull
07/7/2021
12:50
F31 seems should be the CP press officer.
Refused to listen to the formal and real legal misgivings (allegedly as reported) of the BOD and has no means to verify any of the CP claims - but wants to gift the company to them !

Looks more and more like the increasingly desperate last effort of a losing gambler.

We said all along there should be an investment case not just 23 red etc

fenners66
07/7/2021
12:48
Sack the Hat, useless individual....
lippe
07/7/2021
12:34
Jungle Jim - thanks for your reaction! It is good when people share their sincere thoughts and opinions - it helps for a constructive debate, which in turn helps people making up their minds.

What we would like to achieve:
The overall and the ONLY important goal is obviously to achieve a share price improvement !!

Within John's recent Chairman Statement and within David's response to our letter and questions, we absolutely cannot find anything at all that does even remotely provide any realistic hope on such share price improvement.
David's "strongest" argument towards hope is the oil exploration's "business cycle", which he seems to believe will ultimately somehow get us a contract.
This despite of his own The Currency interview, where he himself indicates that Petrel’s balance sheet is too small to be taken seriously.

For these reasons, we firmly believe by now (after 20+ years of failed attempts), that our only remaining realistic hope on a share price improvement now sits with the “Tamraz Group Option”.
Whatever one might think about the personalities (and don’t believe everything you read in the press!), this group has (as John confirms!) direct access to all relevant decision makers, resulting in an immense track-record of getting things done.
As you could read in our Q&A session with Roger Tamraz, he hopes that acceptance of their RNGG offer will bring the share price back to 25p or even more – as it indeed already did in December 2019.

25p or even more – who would not want this after 20+ years of full-on misery and losses ??
And it is a very realistic target – as mentioned, it already happened before.
And with Roger Tamraz’ intentions to develop Petrel further after that, who knows how much further even the share price could potentially go?

Unfortunately, our Board seems completely inflexible – it is obvious by now they won’t change their minds on their expressed intention to “move on” from Tamraz Group and instead pursue their long-tried road, trying to get their own contract in Iraq.
Coming from that specific position David responded to our letter and questions, basically giving us his reasons why they won’t go for the Tamraz Group option.
But he seems to have – hopefully unintentionally – somewhat incorrectly informed us on several points, the main one being that “passage of the RNGG title is conditional on funding”.
This seems to be completely incorrect?:
Netoil Ltd already owns 80% of RNGG (the owner of this title), so there is no “passage of title”?
And there is as well Roger Tamraz’ confirmation in our Q&A session: “our title is clear”.

Unprecedented: - David and the Board have completely ignored our several requests for clarification on possibly incorrect information in reaction to our formal letter.
Unprecedented, because our 2 emails asking for clarification were effectively co-signed by 23% of the total shares in circulation, no less!
Unprecedented that the MD refuses to explain where our reasoning was incorrect – if he thought so!
Unprecedented that John – chairman – so far has not reacted at all to my formal complaint on the above – see my post directly below.

Where does that leave us?
Well, it is now rather obvious that without drastic action by shareholders, nothing will change, and that most likely we will never see any recovery of our lost investments.
We will protest somewhat during the upcoming AGM, but that in itself won’t change things.

So our only remaining option to still at least have a shot at some recovery, is to call for special General Meeting, which would include a resolution for the Board to accept the RNGG offer by Tamraz Group.
We shareholders are the owners of the company, not the 3 persons on the Board. Never forget that!

Jungle Jim - I am not overly worried about the consequential scenarios from such resolution, e.g. concerning David’s potential departure, which you rightly so consider, and highlight.
Because …IF… the vote to accept the RNGG offer would be carried, then consequently the Tamraz Group will take control of Petrel and/or the Board.
And to be honest – with all (sincere) respect for David and John – I think we would have a powerful and capable new Board when the Tamraz Group would effectively replace the existing Board.

The question is if shareholders would like, and are willing to stick their neck out, for a seemingly realistic shot at 25p via Tamraz Group – for starters, possibly more with additional future Assets.
Or do they feel they have a safer or better chance with the current strategy of our Board?

I personally have made up my mind, as I feel we realistically have nothing left to lose anymore anyway by choosing for the Tamraz Group option, as our share price is lost already.

f31
07/7/2021
12:27
Yes mate. If they could just sell that bloody gas!
the sage
07/7/2021
12:11
Sage, at least Eme is looking better these days
blakieboy7
07/7/2021
12:10
My money is on them sorting out their differences with the CP. It will have to be sorted at some point. Why not take a share of the Russian licences? Don't read too much into the negative spin that John weaves. He always plays down situations.
the sage
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