Petrel Resources Share Discussion Threads

[malc5] 01/3/2022 13:56

Yes, good find KD, looks interesting

[ajj2003] 01/3/2022 11:22

Nice to see Petrels specialist subject, the Iraqi Western Desert, back firmly on the agenda.

[flyhi] 01/3/2022 11:06

kd - very good find and very interesting...

and...the West has to emancipate itself from Russia in terms of energy and develop new sources...

[fenners66] 01/3/2022 11:03

See Terry is at it again...

Apparently Iraq cannot get oil out of the ground on their own....

Fortunately SHELL and BP are soon to be freeing up loads of experienced staff
of course there are also the myriad of massive International oil companies that are already working in Iraq.

Only a Terry would suggest even the remotest involvement of this penniless minnow

[kdickson] 01/3/2022 10:36

This article (below) posted on the IOM website yesterday. If Petrel are not involved somewhere in all this then I'm going to have to buy a tasty hat to eat!

And before someone says it sounds like the Iraqi's are going to do this themselves, remember that the Western Desert is massive - about the size of England. There's no way the Iraqi's own exploration and drilling companies will have the manpower or budget to progress all these gas opportunities within any sensible timescales without external partner companies (like Petrel 😉). They are simply trying to make any licences much more attractive to interested companies by doing the seismic and some initial drilling themselves.

-------Article-----

 National Oil Company holds an extensive meeting and announces - the closing of the investigation of the fifth licensing round by the competent court - and the approval of integrated plans to drill and develop gas fields in the Western Desert.

The National Oil Company announced the issuance of a decision by the competent court to close the investigation into the fifth licensing round for the development of gas fields after four years of considering the case. This came during an expanded meeting of the company held on Monday, where a set of topics on its agenda were discussed.

The company confirmed that it had approved an integrated program for drilling wells in the Western Desert to produce gas by setting plans for the development of free gas fields, including exploration and drilling wells.

The company said that it has strategic plans to increase the production capacities of free gas through the development of gas fields, and this comes within the directions of the Iraqi government and the Ministry of Oil to optimally invest in free and associated gas, and benefit from it in operating electric power plants and in the petrochemical industries, as well as the transition to clean energy. And protect the environment and climate from harmful emissions.

2022-02-28   12:06 am 

[cojones] 25/2/2022 22:38

Great price...will be buying these
Thanks ;)

[lippe] 25/2/2022 07:58

Damm pesky Putin ...

[the diddymen] 24/2/2022 20:39

Now remind me. Where was PET's great Russian adventure going to start?

[fenners66] 23/2/2022 11:45

Listened to BBC radio last night -they advertised a podcast "Sports Greatest Crimes - The Trillion Dollar Conman"

It was incredible to listen to and hear the stories people were prepared to believe - without questioning and what a man got away with.
Sven Goran Ericsson joined league 2 Notts County and thought they would be buying their way to the Premier League. He even went with the Conman to North Korea to seal a deal for all NK's mineral rights....
It sounds like fantasy when you hear it.

A lesson in how gullible many , many people can be.

[1teemore] 21/2/2022 23:05

The Diddymen- you've been drinking again!!

[taxibabe] 20/2/2022 09:34

Pet has always been a wild spec on whether those 6 licenses in iraq would actualise. Potentially, of course, their worth billions, but the iraqis are demanding a substantial up front sum before allowing 1 drill there. Its outside of Pets capiblities to raise this money so it needs a farm in partner who has got that kind of money. Can it find one? Who knows

[kdickson] 19/2/2022 21:48

You poor sod. Last 7 posts by a non-holder is sad enough, but 5 of them on a Friday night! I almost feel sorry for you.
#shunnedandlonely

[the diddymen] 19/2/2022 21:38

twenty plus years of narrative and no shareholder wealth.

[the diddymen] 19/2/2022 21:36

More Дур;ь нес;усk4;ет 85;ая from 2018:

hxxps://www.energy-reporters.com/production/irish-oil-boss-in-crimea-talks/

[the diddymen] 19/2/2022 17:32

The BoD are so useless that aside from the interim and full accounts announcement and placings, they have had no reason to RNS in many years other than to confirm the CP and subsequent FU.

The last placing in May 20 was:

"Subject to the appointment of responsible officials by the new Iraqi Government, and the lifting of Covid-19 restrictions, Petrel expects to enter into re-qualification discussions with the appropriate decision-makers at the Ministry of Oil. Discussions may cover Petrel's past studies on the Merjan-Kifl-West Kifl area, and the Mesozoic and Paleozoic potential of the Western Desert."

Sensible shareholders will cut their losses.

[lippe] 14/2/2022 08:10

Dave of Donetsk had a nice ring to it, whatever happened to the Ukrainian lolz venture ..

[the diddymen] 10/2/2022 16:11

Where was the DD of the concert party? Very rarely that you get a free lunch.

[holdingtight] 10/2/2022 15:49

Maybe the BoD (original members) don't want to make it easy, CP messed up, CP can fix it themselves (and without further dilution).As to them selling - who knows, maybe, but I expect they want to salvage their full investment after having a chunck of their holding robbed from them, or having lost them, take your pick.