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PET Petrel Resources Plc

1.45
-0.10 (-6.45%)
Last Updated: 08:38:18
Delayed by 15 minutes
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
  -0.10 -6.45% 1.45 1.30 1.60 1.55 1.45 1.55 93,869 08:38:18
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 0 -311k -0.0020 -7.25 2.28M
Petrel Resources Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker PET. The last closing price for Petrel Resources was 1.55p. Over the last year, Petrel Resources shares have traded in a share price range of 0.85p to 3.45p.

Petrel Resources currently has 157,038,467 shares in issue. The market capitalisation of Petrel Resources is £2.28 million. Petrel Resources has a price to earnings ratio (PE ratio) of -7.25.

Petrel Resources Share Discussion Threads

Showing 36276 to 36294 of 37475 messages
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DateSubjectAuthorDiscuss
18/8/2022
22:12
Every few years or so Terry comes back with the same B/S , I guess he buys low , ramps , finds some new marks and sells for a few £ profit.

Rinse and repeat , that's why we are here , there is always someone new to inform....

fenners66
18/8/2022
17:14
It was also interesting in that article about how the amount of oil may have been underestimated, especially in the Western Desert.

A while ago I was looking through some of the early Annual Reports and these two sentences from the 2000 Annual Report stood out:

1). “Petrel has mapped possible structures on the block we have applied for including one very large structure (with potential for 500 MILLION BARRELS RECOVERABLE) for which there is surface expression”.

That is literally a GIANT oil field right there in that one structure (and in subsequent reports, they’ve said they have identified 4 x large structures).

2). “Preliminary geological reserve potential of the PALEOZOIC part of the Western Desert in Iraq in an area of 2,000 square km between the Akkas and Khlaisia wells is around 16 BILLION barrels oil”.

I've never seen that second point ever mentioned again - maybe DH was told to keep it quiet ;). He never replied when I asked specifically about it.

So, that is saying an area of 2,000 sq kms may contain as much as 16 billion barrels of oil.
Block 6 is 5 x LARGER at 10,000 sq kms!

For visual comparison, I drew a square shape to represent a 2,000 sq km area (to scale) on the map below, positioned “between the Akkas and Khlaisia wells” and put the five times bigger Block 6 in its position (also to scale as far as I could work it out).



The contour lines show areas of equal thickness in relation to the underlying Silurian Akkas formation (which is found deep in the PALEOZOIC interval). This is the formation (reservoir) in which the gigantic Akkas gas and condensate field was discovered.

Note that Block 6, in addition to being 5x larger than the “2,000 sq km area” (with its potential 16 billion barrels), also appears to be over a much thicker part of this reservoir formation.

Could it be possible that BLOCK 6 potentially holds MULTIPLES of 16 billion barrels (5 x would be 80 billion barrels). As opposed to the official "3 to 5 billion".

In the 2008 AR, it stated:
"More recent estimates by various bodies now ESTIMATE WESTERN DESERT POTENTIAL RESOURCES as one of the largest unexplored frontier areas worldwide, with possibly, AS MUCH AS 100 BILLION RECOVERABLE BARRELS OF conventional OIL".

kdickson
18/8/2022
15:58
Thank you for POSTS 10596,7 & 8 but remember that whilst a new Government would of course be helpful that the IOM have issued contracts previously including S&L when there was just as much shall we say upheaval in Iraq.
the chairman elect
18/8/2022
15:54
Terry is pontificating, always a worrying sign ...
lippe
18/8/2022
15:51
KD yes that was the same piece that caught my eye. If they can get their act together we may have something to get on with!!
felix0007
18/8/2022
15:07
Yes, interesting Felix. Especially this sentence:

"The director general of the Iraq Oil Exploration Company (IOEC), Ali Jassim, added that the next phase will see “remarkable activity” in the exploration sector, including operations in the Western Desert and the Nineveh governorate".

One day they'll maybe be able to form a functioning government that can dish out contracts.

kdickson
18/8/2022
14:38
Thought this was interesting....
felix0007
08/8/2022
17:51
ain't that the truth!
bountyfull
06/8/2022
09:45
Thank you for the feedback f31. Still a waiting game then.
bountyfull
06/8/2022
07:41
Very reasonable attendance yes
f31
05/8/2022
18:56
Thanks f31
I asked Dave if anyone turned up and his response was ‘full house’

walterwhite1
05/8/2022
16:51
Nothing much to report back from the AGM.
The Petrel-specifics within David’s presentation (Iraq/Ghana/Ireland) were basically a repeat of what he already communicated in the Audited Results as per RNS 28th June, he also focused a lot on the current uphill trend in the industry business cycle, while also addressing general situations which impact exploration, such as the political U-turn by the Irish Government on exploration, and the lack of understanding by many Governments on investment vs profit needs.

On an in my view positive note: on my question about the reasons behind John’s and Jim’s recent private investment of total £ 300K, Jim confirmed that this was done not only to end the stalemate on the disputed shares which obstructed any further business, but was also considered a good investment opportunity…. “very good value to buy those shares”

f31
05/8/2022
14:14
I know someone that was planning to go. Not sure if he made it but his feedback reports have been good in the past. Hopefully he will update the board later.
kdickson
05/8/2022
12:12
Did anyone go to the AGM?
I imagine it was a riot :-)

walterwhite1
04/8/2022
19:06
Superb writing - you have a talent.
holdingtight
04/8/2022
16:53
The Tamraz crew now belong to our yesterdays. The Emperor fell foul of their wicked ways and upon smelling fault he gave them short shrift. They played a merry chase but he goosed them in the end.

To rid him of their sour adversity and conquer their most absurd intents, the Emperor spent 200k on new clothes. The Emperor's chief bean-counter, found himself resonant with these doings and being in close proximity spent 100k on new clothes to gain the same relief.

Was not that nobly done? Ay, and wisely too.


Petrel like the scapegoat,
forever bathed in scorn,
by those who have been beached by whim,
take note that like the goat,
wears yet a twinkling jewel within.


Mannerly devotion will reward thee... maybe!

Fear not my friend, a new epoch is upon us. It shall be named "The Age of Petrel Millionaires".

And to he or she who speaks of "By all accounts..." when in fact there are no accounts, your mask has slipped, shame on thee. I know because I was solely instrumental of what you speak!

mcguines
04/8/2022
12:14
American Idiot - Little known fact, the story 'The emperors new clothes' was based on Petrel, except in this case the investors are sold new clothes year after year by the emperors

The Tamraz concert were wise to this (they read the story) and saw a way to cash in so they sold even more clothes to Petrel holders, only in their case, the stitching came undone

dusseldorf
03/8/2022
07:59
Huge rights issue more like
taxibabe
02/8/2022
11:42
MM's wont take more than 30k off me at a time. Looks like its a worked sell.
HUGE NEWS COMING!!

walterwhite1
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