Petrel Resources Share Discussion Threads

[the chairman elect] 09/2/2022 14:20

From Russia with love //// 007

[kdickson] 09/2/2022 13:40

Another thought. There's been a drip drip of sales over the last few weeks and months without the share price being punished. I wonder if these sales are being accumulated by the MM's, over a period of time, because they have a buyer in the background?

Two AGM's ago John said "look for the CP buying back their shares". That is, the 5.5 million that were sold within the lock-in period and before the injunction.

Petrel and their NOMAD know that one of the conditions for the injunction to be lifted is for the CP to buy back those 5.5m shares to make PET 'whole' again (and pay legal costs).

So perhaps we've been seeing a slow  accumulation of shares by the MM's on behalf of the CP, so that the injunction can finally be lifted and the CP get their injuncted shares back (well, most of them).

This scenario would also help PET save face in that the legal action they first took would be seen to have worked and been a 'good thing'.

Of course, this would require Tamraz and John/David to be friends and be talking to one another about it.

With May this year (I believe) being the deadline for agreement on financing of the Russian licences, that would give both parties extra impetus to sort out all of the above.

[kdickson] 09/2/2022 12:47

Interesting then that DH travelled to Russia 3 months later in October.

[kdickson] 09/2/2022 12:01

My thoughts are that, back in July last year, it was a real shame that Netoil couldn't satisfy  Petrel it had guaranteed funding for those 9.1 billion boe Karpinsky Russian licences offered (in order to give us a free carry). Especially as they had the good title that David/John wanted to see in any asset.

If anyone recalls f31's AGM update (post  19670), the offer was not acceptable to the Board or the Nomad since the fundamental requirement to satisfy the Stock Exchange is to prove that the cash is there (or absolutely guaranteed for instant access) and there's enough money to cover the cost of developing any new Asset for an initial period.

Tamraz could not prove this at that time (cash locked out due to Lebanese banking crisis) and not even a funding promise letter from Rothschild was enough, so no free carry possible for Petrel.

So, this very promising deal seemed to have stalled last July, due only to the unresolved funding.

[ajj2003] 09/2/2022 11:01

Morning TCE, good to know there are some of us still around, watching and waiting ;)

[the chairman elect] 09/2/2022 09:55

And all the TROLLS that can not stop RED TICKING posts because they do not want to hear the truth!

[the chairman elect] 09/2/2022 07:36

Remember the old saying that how ever much you know there is always someone who just happens to know more!

TROLLS will not take this well but just saying like!

[felix0007] 09/2/2022 07:26

KD thats interesting. Do you know something we don't?? Not much activity on Pet in the last few months and no news what so ever!! It would be great to know your thoughts.

[kdickson] 08/2/2022 17:32

Nice little top up today while things are quiet.

[the diddymen] 07/2/2022 14:52

This BB and other PET BBs have been littered with irrelevant posts like yours about major field investments in Iraq. The company does narrative and pays directors' emoluments. Nothing else.

The only redeeming feature of your post was that it did not have the 'interesting' comment needed to sign post low IQ investors.

[steephill cove] 07/2/2022 09:55

Akkas oilfield in the Al Anbar governorate.

Clearly must be much more safer now in the Western Desert if the US & Halliburton are happy to go there.

2022-01-25 06:30
Shafaq News / The Iraqi Ministry of oil is holding negotiations with US company Halliburton to invest in the Akkas oil field, west of the country.
The Chief of the contracts and licenses department in the Iraqi ministry of oil, Ali Maarij, said that the oil field's production capacity reaches 400-500 mcf/day.
He added that many foreign companies offered to invest in the oil field, but the ministry did not reach an agreement with any of them, noting that the security situation in the country prompted many companies to withdraw their offers, although the operations command and the security forces have assured all parties that they will protect the companies operating in the governorate.
In June 2011, Iraq signed an agreement with Korea Gas Corp. to begin developing the Akkas natural-gas field.
In October 2010, KOGAS in a joint venture with KazMunaiGas (KMG) from Kazakhstan and the Iraq state-owned company (Iraqi National Oil Company-INOC) applied to participate in the reverse auctions of the third license round organized by the Iraq Federal Government.
In October 2011, KOGAS and its partners were awarded the Technical Service Contracts (TSC) for the Akkas gas field with a remuneration fee of $5.50 per barrel of oil equivalent (boe) based on a plateau production of 400 million cubic feet per day (cf/d) during 13 years.
The Akkas field was discovered in 1992, with 5.6 trillion cubic meters of natural gas reserves. Six wells had been drilled in the field before ISIS took control of it in 2014.

[steephill cove] 06/2/2022 12:06

Lippe, you are clueless & you are so wide of the mark. An abysmal research fail as usual…

[lippe] 01/2/2022 16:23

Dave's on the job most Friday afternoons as he adopts a buffalo stance above the waste paper bin, chicken beaks and feet dropping like the share price into oblivion ...

[felix0007] 01/2/2022 12:13

Fenners..... calm down dear!!

[fenners66] 01/2/2022 11:25

"on the job i hope they are doing"

What job is that you "hope " they are doing.
Is it having remuneration meetings?
Is it checking the petty cash tin?
Is it writing the half yearly RNS's to accompany the half yearly accounts?

or asking someone for some more cash so they can keep doing the above ?

What evidence has there been, for the last however many years, of anything else ?

[felix0007] 31/1/2022 20:02

Malc5 thanks for the links to the DH interviews which were very interesting. I am a real Pet fan and do hope they will pull it out of the bag sometime soon but it does annoy me slightly that DH is happy to talk to the public through RTE etc. but as share holders we have not had any communication at all since mid September last year. This is no reflection on the job i hope they are doing but it does just rankle a bit!

[malc5] 31/1/2022 16:05

DH, talking on the Pat Kenny show Friday

www.goloudplayer.com/episodes/will-the-ukraine-border-crisis-a-aHR0cHM6Ly9jZG4ucmFkaW9jbXMubmV0L3JhZGlvLWNtcy91cGxvYWRzLzIwMjIvMDEvMjgxMDQxMzAvMjgwMS1QZXRyb2wtUGF0Lm1wMw==

[malc5] 31/1/2022 16:03

DH 2 weeks ago

hxxps://www.rte.ie/news/business/2022/0113/1273428-conflict-in-kazakhstan/

[lippe] 28/1/2022 07:35

Steephill Cove aka Dougal Mendacious....

[fenners66] 28/1/2022 07:24

In other words if you are a loss making minnow with no projects and barely any funds you can forget it ?