Petrel Resources Share Discussion Threads

[malc5] 23/5/2022 09:32

hxxps://stockboxmedia.com/interviews/clontarf-energy-mobilisation-of-drill-rig-at-sasanof-gas-project-in-western-australia/

Although this is mainly about Australia DH does talk about Ghana towards the end.

[the diddymen] 21/5/2022 21:16

Ken, hang on that word hope:

"want something to happen or be the case"

Probably better to invest on the basis of tangibles!

[the diddymen] 21/5/2022 21:16

Ken, hang on that word hope:

"want something to happen or be the case"

Probably better to invest on the basis of tangibles!

[valentine73] 21/5/2022 16:32

Tamraz and Co all out as I understand it.

[robert heenan] 21/5/2022 16:15

I was invested a couple of years back. Bailed out before the Tamraz share loan fiasco.

Is Tamraz and that other fella still involved with the company?

What's the latest developments?

I might invest again

[bronislav] 20/5/2022 15:30

Ducky fuzz.fear and greed ,the two curses of investing.

[taxibabe] 20/5/2022 15:23

Wouldnt want to be out over the weekend.

[ducky fuzz] 20/5/2022 15:14

SP likely to go up any minute.

[ducky fuzz] 20/5/2022 14:54

CE .. It was a big thing for me to sell up. I'm into TOMco now.

[m5] 20/5/2022 14:51

I mean FFS they have to do something one day right?😂

[the chairman elect] 20/5/2022 14:50

D F never to late as we are still only at the foothills of the himilayas

[ducky fuzz] 20/5/2022 14:39

And every time I see the share price go up .. I feel so happy for you guys. Bit of sarcasm in there I'm afraid.

[joeblogg2] 20/5/2022 14:36

kd really hope DH can get one of these over the line Ghana/Iraq been a long wait!!!

[kdickson] 20/5/2022 14:29

Thanks DF. We appreciate it ;)

[ducky fuzz] 20/5/2022 14:26

The reason the share price is doing well is clearly because I sold my entire holding at around 2p.

[ducky fuzz] 20/5/2022 14:06

Certainly seems to be buying interest. Maybe traders.

[walterwhite1] 20/5/2022 13:36

If think you'd have to be on magic mushrooms to give David Horgan any sort of valuable resource. I've emailed him 3 or 4 times in the last month and he seems reluctant to reply.

[kdickson] 20/5/2022 13:33

Hahaha! I know! These numbers seem crazy but the huge profits possible combined with low number of shares makes the numbers that big. When DH mentioned 'telephone numbers' all these years ago, that's why. Unless he was on the magic mushrooms too ;)

[ducky fuzz] 20/5/2022 13:07

Hi kd .. you been on those mushrooms again?

[kdickson] 20/5/2022 12:58

As an example of the potential rewards, here's a reworked valuation that I did for Merjan a couple of years ago but now based on latest much higher oil prices. Not saying it would get to that high price immediately, and there would probably be share splits along the way...


Merjan share price

The value to Petrel if we 'only' got awarded Merjan-Kifl-West Kifl and it was developed into a 100,000 bopd producer, then that alone would be company changing.

At 100,000 bopd, and assuming we got a 10% profit share, then with a conservative forecasted 2023 oil price of £70pb ($87) that would be an annual profit of £255 million per year (100,000 x 365 days x £70pb x 10% share to PET).

That would support a share price of over £16 per share.

(£255 m / 157 million = £1.63 earnings per share x PE of 10 = £16.30 ps and mcap of £2.5 BILLION).

[the chairman elect] 20/5/2022 12:25

Remember that the cost of production in Iraq is just a few dollars per barrel and the numbers of barrels is big!

Plus add in the likely hood of production sharing agreements [PSAs]