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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% 1.775 1.75 1.80 1.775 1.775 1.78 270,000 07:39:16
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 34926 to 34946 of 35400 messages
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DateSubjectAuthorDiscuss
15/7/2021
08:22
County Mayo, Ireland's Somalia ...
lippe
15/7/2021
07:41
LM2 - The frying pan is the safest place. Unfortunately the cook ia a storyteller. He does narrative not work, and storytellers are well paid. The shareholders are equally responsible because they have traded the narrative, but not all. Trading the narrative has lured others into the frying pan; hence there is a coalition of the knowing and unknowing being quarterised. The cook is now living the narrative and is mentally imprisonned by it and unable to move the frying pan from the heat. Not a good place to be, but far from screaming the shareholders go silent. Meanwhile Dave is getting the Mayo out.
the diddymen
12/7/2021
23:43
Thanks kd. I hope the Board is listening and taking note that we are not pleased with their performance. I am sure if you were able to contact all the shareholders the outcome would be the same. I hope that is not lost on the Board.
bountyfull
12/7/2021
19:47
The Sage 12 Jul '21 - 19:36 - 19577 of 19577 "When all this started, the object of the exercise was for the CP to take control of the company. From our limited but none-the-less emphatic vote, it shows that the vast majority still want them involved." They think they have 13% support and possibly 6% against. "vast majority"........ the VAST majority have completely ignored them ! c 81% (+) ignored them c13% is a tiny minority
fenners66
12/7/2021
19:36
Nice work KD. We now need to convey this to the BOD. When all this started, the object of the exercise was for the CP to take control of the company. From our limited but none-the-less emphatic vote, it shows that the vast majority still want them involved.
the sage
12/7/2021
19:34
Cheers smcl. I agree we're not at any SAG stage but would be interested to hear your experiences. Feel free to pm me.:)
kdickson
12/7/2021
18:38
Below are the final stats on the straw poll which I'm now considering closed. Thanks to everyone who responded! The poll clearly evidences that the vast majority want to accept the Russian asset and would like to see PET managed by a new team.  We expect if we could reach out to more shareholders their view would be the same. Straw Poll - FINAL stats (12th July) 41 shareholders responded (Advfn and Proboards). 36 shareholders believe that changes are long overdue and feel that Roger Tamraz offers the better chance of recouping shareholder losses and want the Board to proceed with the Russian licences. 3 shareholders do not want changes and believe the current Petrel board offers the better chance of recouping losses and do not want the Board to accept the Russian licences. 2 shareholders abstained from the poll. The 36 hold a total of 16,280,093 shares (13%) The 3 holders represent no more than 6 million shares (4.8%) (holding unknown for one responder so estimated figure based on maximum possible 3% holding) (Above %ages based on 124,947,462 shares with voting rights i.e. excludes the 32,086,538 under injunction)
kdickson
12/7/2021
12:49
The French used petard (from pet to fart)"a loud discharge of intestinal gas" To be hoist by ones own petard, to blow oneself up with ones own bomb ... Dave of The Clontarf and his trusty legal sabre ...
lippe
12/7/2021
11:55
Silence frequently says more about a share than chatter on these BBs. The silence speaks very eloquently.
the diddymen
10/7/2021
14:28
bit coin, if I may answer that. In a word, Yes.
kdickson
10/7/2021
13:45
I also agree. With a little more than two weeks until the AGM, we need to show the result of the poll to the BOD. It might not represent all shareholders but the vast majority of those who took part agreed on which direction we should take.
the sage
10/7/2021
12:45
f31 10 Jul '21 - 10:25 - 19568 of 19570 "But what people need to understand that this loan was required because the Tamraz Group cash at that time was all in Lebanon (their origins), where in October 2019 suddenly banks imposed a capital control (without a law voted by the Parliament), forbidding to take more than a few hundred dollars from the ATM and forbidding to transfer money abroad. So, exactly at the time of the 2nd phase of the 2019 take-over, completely out of the blue, they could not access their own Cash to pay for the upcoming 2nd tranche of shares." " Out of the blue " October 2019 capital control "Petrel Resources PLC Results of EGM and Issue of New Ordinary Shares 21/11/2019 1:56pm UK Regulatory (RNS & others)" "Petrel is pleased to announce that at the EGM held earlier today the ordinary resolution to approve, on a poll, the waiver under Rule 9 of the Irish Takeover Rules was passed. Accordingly 64,035,976 Ordinary Shares of 1.25 cent each ("New Shares") will be issued to the Tamraz group at the placing price of 1.25 cent each. Following the allotment of the New Shares the Tamraz group will hold 51% of the Enlarged Issued Share Capital of the Company. " Furthermore and this is important - PAYMENT for those shares was not due until JAN 2020 So they already knew about the capital control - which you are now saying was out of the blue ....and already knew they would therefore have to borrow the money ? "Billionaire" living in Paris , or was it Dubai ? Has no access to his own money? The rest of the "French based" concert party had no access to their own money? The loan was taken out - full in the understanding that they had weeks to pay - or was this a loan facility they already had ? Then some shares were sold at a massive profit. Who are EYCP? Who owns them ? Where they are based? Have you got a job with the CP as their press officer ?
fenners66
10/7/2021
12:41
I fully concur.
palace pete
10/7/2021
12:35
"Bronislav 10 Jul '21 - 06:30 - 19567 of 19570 "it's my gut instinct that Mr Horgan would rather have one company to focus on and make a success of ,rather than have two that don't meet any of their potential." Come on Bronislav , you are way behind the curve here , 1 not 2 ? Have you not been paying any attention ? DH - Director PET CLON but you have missed GREENORE GOLD PLC (07561621) BOTSWANA DIAMONDS PLC (07384657 HYDROCARBON PROSPECTING PLC (07088271) And potentially other Irish companies as well.. 162 Group for instance.... So why would he suddenly want to concentrate on one company , when being paid by many unsuccessful companies could cloud the issue from many different shareholders ?
fenners66
10/7/2021
12:26
"Bronislav 10 Jul '21 - 06:30 - 19567 of 19570 "odds on "for a successful outcome in Iraq and "sooner than you think"when looking at timeframes prompted me to invest a significant amount( by my standards)which I have since reduced.I believe I was misled." If only there was an alternate , circumspect view available at the time , he might have saved himself some pain and instead have invested in one of the myriad of companies that have risen enormously since..... Oh hang on , there was . We have been saying this consistently for many years....
fenners66
10/7/2021
11:39
The enthusiasm to get votes recently on the post Brexit share vote was driven purely by self preservation. Failure here would mean we could not trade our shares. hxxps://polaris.brighterir.com/public/petrel_resources/news/rns/story/x8oy59r In Teelings latest Chairman's statement he sets out his plan for this company - more of the same as they are 'building their Iraq team'. Even the Iraq Oil minister says Iraq is a basket case and 80% of his time is dealing with infighting. Teeling also says they are up for sale! That's the plan. No hope of a deal in sight. Nothing. At least with the Tamraz offer, which PET has declined, we would have an opportunity. Also Tamraz's connections may help get Ghana over the line or another deal that PET is to small for in Iraq. Teeling says it's time to move on from Tamraz. I think it's time we move on from the current Board who do not even have the common decency to fully engage with their shareholders.
bountyfull
10/7/2021
10:42
F31, forgive me for not being fully up to speed but is there an actual offer from Rog and associates on the table? Tia
bit coin
10/7/2021
10:25
Teemore, I fully understand your concerns about going from the frying pan into the fire. After all, it's our investments we are talking about, and we need to protect them as best we can. And indeed – the initially planned path towards a take-over was troubled by the shares-issue. But "from frying pan into the fire'", means from a bad situation into one that is even worse. And I have not heard any well-reasoned explanation by anybody of why this would be the case. On the contrary - how could we be worse off? The share price is already lost, so our investment is already lost. (Unless you want to cash the 2.5p value from it) And nowhere in David's extensive response to our Shareholders Letter is there any indication which warrants realistic hope that this 2.5p will improve. At best, we need to wait for the exploration cycle to turn, and then hope that this time for some reason we would get a contract, unlike before. At best, we’ll financially survive the wait, although further dilution would then seem unavoidable. In contrast, Roger Tamraz offers us a real existing Asset – the RNGG blocks. Independently valued by 2 different companies at $200 million! And in addition, he wants to grow Petrel further – something his track-record suggests he is very capable of doing so. How does that even remotely predict a future for us “in the fire”? I honestly do not understand the hesitation to vote for this very realistic chance of what MUST be a better future. I assume this hesitation is based on the shares-issue that happened, effectively caused by that loan facility. But what people need to understand that this loan was required because the Tamraz Group cash at that time was all in Lebanon (their origins), where in October 2019 suddenly banks imposed a capital control (without a law voted by the Parliament), forbidding to take more than a few hundred dollars from the ATM and forbidding to transfer money abroad. So, exactly at the time of the 2nd phase of the 2019 take-over, completely out of the blue, they could not access their own Cash to pay for the upcoming 2nd tranche of shares. For this reason, they went into that cash-bridge facility with EYCP, who subsequently (intentionally) frauded them with the shares, and in addition with the loan facility itself. Shareholders that are possibly hesitating based on this shares-issue, should realize more in full that Tamraz Group was the victim here (of the fraud by EYCP) and NOT the committer of any wrong-doing against Petrel (other than admittedly being too trustful on advice they were given). The above is fact. But even if shareholders should nevertheless still have misgivings about what happened: The right thing for their investment is not to dwell on what went wrong, but to be pragmatic within the situation we are now in, and take the opportunity (probably the ONLY opportunity !!) still available to them to recover their investment. And so should the Board – be more pragmatic !!
f31
10/7/2021
06:30
1teemore.good post and reflects how I feel.I don't have a large holding anymore but nevertheless others will and this stalemate needs sorting out.The chaps pushing the board with questions etc are doing a great job.After last year's questions and in particular the answers of "odds on "for a successful outcome in Iraq and "sooner than you think"when looking at timeframes prompted me to invest a significant amount( by my standards)which I have since reduced.I believe I was misled.In general I try to look at the bigger picture rather than specifically what directors say and especially if they talk of timeframes.Tamraz caused this by his actions re share debacle and I'm not convinced that he is any better than we already have and may only cause a spike in the share price although that would offer an exit for shareholders.With Mr Teeling stepping down at clontarf it may be the same case here and it's my gut instinct that Mr Horgan would rather have one company to focus on and make a success of ,rather than have two that don't meet any of their potential.My own view is that Pet may well be sacrificed in some way for the greater good and David's apparent enthusiasm to get votes recently on the post Brexit share vote suggested there is still some plan in place with the company.I think some clarity from the board is urgently needed and the least that the board can do for long suffering loyal shareholders.
bronislav
10/7/2021
01:12
f31- approx. 50km away which is not far, my experience would say that affidavits and truth sometimes differ and that is no disrespect to you, or indeed any of the aforementioned. I am just as keen as you to see something positive happen and personalities do not concern me but I am slightly concerned about going from the frying pan into the fire-moo. I respect all the work you have carried out to date - perhaps your work will result in a positive conclusion for all of us.
1teemore
09/7/2021
20:06
Teemore - I really don't know what more you want - it's all in the affidavit ?? !! If you want to you can PM me and maybe we could meet up for a chat - might be possible if you live in/near Clontarf ?
f31
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