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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
  0.00 0.0% 1.65 1.55 1.70 - 0.00 07:36:43
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -0.4 -0.3 - 3

Petrel Resources Share Discussion Threads

Showing 34801 to 34822 of 35450 messages
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DateSubjectAuthorDiscuss
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
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 clich├ęs 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
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