Petrel Resources Share Discussion Threads

[taxibabe] 21/6/2023 09:59

Well Tamraz groups sale at 0.90p to the directors turned out fairly smart

[fenners66] 21/6/2023 09:51

Now that is close to an all time low.

Who would have thought it ?

Everyone with a critical eye....

[taxibabe] 21/6/2023 09:37

Yay 0.80p -0.90p heading to 0.50p-0.60p

[fenners66] 20/6/2023 21:33

Almost reached all time low territory today.
Time for terry to start making up stories about Iraq ?

[taxibabe] 20/6/2023 18:04

Early opening tomorrow 0.80-0.90p

[dusseldorf] 20/6/2023 17:47

1.3m pet dumped at 0.92 - organised shorting again or someone giving up, either way I think its the biggest single trade (not placing related) that PET has ever had

[taxibabe] 20/6/2023 17:05

Its under 1p man what are you on about?

[taxibabe] 20/6/2023 17:05

He meant successful at raising funds for drilling. Not in terms of results. The directors of Pet only view success in terms of "fund raising". Success at the drill bit is neither expected, nor required.

[howie26] 20/6/2023 16:54

The directors are no good at all. Today does seem overdone though

[bronislav] 20/6/2023 16:50

Iraq has been over for a while now .i suspect the hope is petrel get a payout for the ghana percentage and the boards significant holding will be a huge payday..

[kdickson] 20/6/2023 16:30

I simply dont believe that Petrel is dead in the water. This is the first Results RNS that has never mentioned Iraq. That is significant. I think there's something significant in play and DH has strictly adhered to only mentioning events up to Dec 2022.

The 5th licencing round Annex included Merjan.
The 6th round includes at least 2 blocks that look like they coincide with old Block 6.

[bones698] 20/6/2023 16:22

Does anyone still fall for this rubbish . Should have gone bust a decade ago but seems some people like paying people to deliver absolutely nothing . More fool them.

[dusseldorf] 20/6/2023 11:14

I wouldn't go as far as saying scamming - more using legal entities, in a legal way to obtain as much remuneration for as little effort as possible while waiting for something to fall into their lap, treading a thin line of insolvency and through naivety (benefit of the doubt here) facilitating 3rd parties (Concert and bucket shops, leverage providers) to short price fluctuations by making it plainly obvious discounted placements will always be warmly received at any point to cover lack of activity.

[currypasty] 20/6/2023 10:46

placing rns (24/10/2022)

"Use of Funds

The proceeds of the placing will provide the company with additional working capital, as Petrel's board continues to assess new projects in Iraq, and advance its Ghanaian interests."


rns today

"It is wiser to keep our powder dry and prepare a portfolio of early-stage projects to fund or farm out when markets turn."

[ianio5691] 20/6/2023 10:34

It amazes me that charlatans like Horgan & Co can make a career out of scamming their way through life at the expense of private investors.
AIM is unfortunately seen by the morally bereft as an opportunity for legalised corruption

[dusseldorf] 20/6/2023 10:00

As for Clontarf being successful - pull the other one

[dusseldorf] 20/6/2023 09:54

They wrote this when the price was 1.5, so I think the dip is overcooked
"So far, the board has been keen to avoid dilution, but as we roll out high-potential new projects, it may be worthwhile to accept funding - hopefully at much higher share prices."

Petrel has not avoided dilution, it's positively embraced it through shorting bucket shops and discounted private placements including to those charlatans in the concert party. So this isn't 'news'.

I think all they're saying is that the raises will be bigger in value - but given the 'death by 1000 cuts' that's been going on who cares? 'The directors will be participating' means they've finally decided to convert their £700k debt to equity which given we're at an all time 20+ years low aligns with my expectations of their strategy

[kdickson] 20/6/2023 09:46

I think (hope!) DH is reporting strictly on events up to YE Dec 2022, hence barrenness of the content.
A lot could have happened in the last 6 months of 2023, especially with the announcement of new licencing rounds.

[rem108] 20/6/2023 09:40

Very sad , the company , the board has let genuine share holders down.
You do not get any feed back when one tries to email them( they wanted your votes, etc time).
Today's update is scary , re:
The Group incurred a loss for the financial year of EUR310,813 (2021: loss of EUR322,077) and had net current liabilities of EUR689,811 (2021: EUR664,924) at the balance sheet date. These conditions as well as those noted below, represent a material uncertainty that may cast significant doubt on the Group and Company's ability to continue as a going concern.

[taxibabe] 20/6/2023 09:32

Maybe time for a deep discounted rights issue at 0.050p ? Lol