Petrel Resources Share Discussion Threads

[monis] 24/10/2022 09:24

A few buys starting to come in.

[tomboyb] 24/10/2022 09:14

Sell the equity keep the warrants -

[felix0007] 24/10/2022 09:05

the 38k sell this morning is actually a buy

[the chairman elect] 24/10/2022 08:55

Yes but a bit like the Tory party this is their last chance so I totally agree with susiebe that 2023 could well be the year of the PET

[dusseldorf] 24/10/2022 08:53

Same placement tactic as last time i.e. using a spreadbet provider / bucket shop who no doubt were able to sell naked short positions on PET with the view that a private placement would cover shortfall in stock a zero sum trade

[fenners66] 24/10/2022 08:43

Worse though , about 18% of the population has died since that "agreement"
Since the whole population includes many children that have not,
one could assume that statistically anyone owning shares in 2008
has had a better than 18% chance of having died, without ratification....

[susiebe] 24/10/2022 08:42

The new Iraqi Government plans to streamline contract awards and fiscal terms so as to deliver increased output for Iraq's economic development. We have the team, experience and skills to participate in the coming boom".

[fenners66] 24/10/2022 08:40

13 % dilution again....

2009 that is 1 year after the "agreement" above

Allotted , called up and fully paid shares ..... 74,662,198 shares

today still not ratified .... 177,871,800


You have been Diluted....

[susiebe] 24/10/2022 08:39

No timelines given but expecting PET to become one of the shares of 2023.Mine still firmly in bottom drawer for now but v positive forward looking RNS.

[fenners66] 24/10/2022 08:36

For that whole new generation that have grown up and may be interested since this was published.....

"A licence over the 1,532 sq km Tano 2A onshore/offshore block was signed with the Ghanaian
National Petroleum Company in 2008"

Except it was never ratified , hence the ongoing ....cough..... what ? Notes in RNS's ?

2008 , hiatus for covid , yes funny isn't it....

[fenners66] 24/10/2022 08:33

"Following a hiatus"

Hiatus meaning = A gap or interruption in space, time, or continuity; a break. A short passage

So Covid created a hiatus.... what about the other 12 years then ? !!!

Guess that was just a break for coffee ?

Note no timescale ever given as to when they "think" anything is going to be done......

[monis] 24/10/2022 08:15

Looks that way.

[fenners66] 24/10/2022 08:08

Now we see the reason why the shares were "supported" last week out of the blue

[monis] 24/10/2022 08:00

Initial drop in price expected due to the placing.

[monis] 24/10/2022 07:58

They know Iraq and the standing they have there so using words like 'coming boom' is all rather exciting.

[the chairman elect] 24/10/2022 07:55

David Horgan, Director, commented:

"The supply/demand balance for oil is shifting in Iraq's favour. The dramatic growth in North American fracked output between 2005 and 2014 is no longer a concern for OPEC exporters. Sanctions on Russia, Iran and Venezuela had constrained the early development of their resources, while demand has returned to pre-pandemic levels - particularly in Asia."

"The new Iraqi Government plans to streamline contract awards and fiscal terms so as to deliver increased output for Iraq's economic development. We have the team, experience and skills to participate in the coming boom".

[monis] 24/10/2022 07:53

Only imo but I'm guessing there could be a lot of buying today.

[the chairman elect] 24/10/2022 07:48

Petrel had previously conducted a Technical Cooperation Agreement on the Merjan oil-field in west-central Iraq, in a 50% partnership.

Following the steadily improving security conditions in this part of Iraq, and increasing global oil and gas prices, Petrel had proposed to develop this discovery under applicable Iraq contracts.

Post-election delays frustrated our efforts to advance this project, but as of October 2022 a new administration is being formed.

Accordingly, Petrel expects to enter into pre-qualification discussions with 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.

[monis] 24/10/2022 07:46

Upbeat on Iraq which is really exciting.

[monis] 24/10/2022 07:39

Very good news and very upbeat going forward.

[currypasty] 24/10/2022 07:24

Petrel Resources Plc (Lon: PET) is pleased to announce that the company has arranged a placing with Monecor (London) Ltd trading as OvalX to raise GBP250,000 (before expenses) via the issue of 20,833,333 new ordinary shares (the "Placing Shares") at a placing price of 1.2p per Placing Share. Each Placing Share has one warrant attached with the right to subscribe for one new ordinary share at 1.8p per new ordinary share for a period of two years.

[monis] 24/10/2022 06:16

Should be interesting to see if the buying from Friday continues today.

[mikemichael2] 22/10/2022 12:15

Well, that 7 year graph tells it all.

[taxibabe] 21/10/2022 19:28

Just the usual fri shortcovering rally monday its bus and usual lol

[bountyfull] 21/10/2022 17:52

I can see why the NOMAD has told them to pull their finger out.