Petrel Resources Share Discussion Threads

[bronislav] 25/2/2023 09:58

All these quotes from directors dont really mean much .Its what they do and not what they say .Always interesting to see how these things play out.

[the chairman elect] 25/2/2023 08:05

Yes I do think that it is reassuring Bronislav that you may be on similar lines!

[the chairman elect] 25/2/2023 08:04

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".

[the chairman elect] 25/2/2023 08:02

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.

Directors and Secretaries Holdings

John Teeling and James Finn have participated in the placing on the same terms as described above as follows;

Name No of Placing Resultant Shareholding % of Enlarge
Shares Issued Share Capital

John Teeling 833,333 21,919,871 12.32
James Finn 833,333 13,618,718 7.66

[bronislav] 25/2/2023 08:02

Thats reassuring chairman that you may be on similar lines on pet.

[the chairman elect] 25/2/2023 07:44

Doubt it myself Bronislav but if you are seriously thinking much bigger picture stuff as eluded to previously then yes I get it I really do get it!!!!

[bronislav] 25/2/2023 07:37

Thinking Iraq is long gone chairman.A one off payment is probably the end result here butagain only my thoughts.

[the chairman elect] 25/2/2023 07:33

77 years young

[bronislav] 24/2/2023 19:37

Teeling wont want to sit on his large amount of shares forever.He isnt getting any younger .my way of approaching pet is not to think in terms of what i want and what my agenda is because i have no control over the company,however if i can explore what teeling will want and what his agenda might be i stand a chance of getting a return on my investment.

[felix0007] 24/2/2023 15:10

Bron yes interesting and hope you are correct. Is this a shakeout before news??

[holdingtight] 21/2/2023 16:45

Lol, well, let's hope your feelings are spot on.

[bronislav] 21/2/2023 16:19

Just a feeling nothing more.

[holdingtight] 21/2/2023 16:05

Interesting Bron, why do you say that ?

[bronislav] 21/2/2023 15:30

Quiet day today but i suspect we will see an interesting few weeks ahead.

[flyhi] 20/2/2023 19:01

vol 2.8 million

[monis] 20/2/2023 15:53

interesting rise today.

[the chairman elect] 20/2/2023 14:25

CLON, BOD, ARK & PET

[the chairman elect] 20/2/2023 14:23

CLON been rising now BOD just leaves ARK & PET

[flyhi] 20/2/2023 14:17

1,5 million traded so far

[flyhi] 19/2/2023 14:57

And there will be progress..."indeed"...

[taxibabe] 18/2/2023 16:22

Pet has its own pending projects and very few shares compared to cloan

[holdingtight] 17/2/2023 13:47

Nothing in the assets in 2021 report so looks like zero.

[holdingtight] 17/2/2023 13:05

Only 2.55% not in private hands. So less than that if anything I would guess.