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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.025 | 1.72% | 1.475 | 1.40 | 1.55 | 1.475 | 1.45 | 1.45 | 1,166,052 | 13:48:55 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil And Gas Field Expl Svcs | 0 | -311k | -0.0020 | -7.35 | 2.31M |
Date | Subject | Author | Discuss |
---|---|---|---|
08/5/2024 11:55 | By all accounts and on good authority it is going to be very hot at the weekend so on that basis you wouldn't want to be out! | apotheki | |
08/5/2024 11:54 | Theres not many shares available hence the large spread but seeing we could hit £1 next week still cheap as chips | bigbudda | |
08/5/2024 11:41 | 3p incoming | blakieboy7 | |
08/5/2024 11:40 | Too true f31 ;) | ajj2003 | |
08/5/2024 11:27 | Thanks for the information KD. Been so long waiting for this moment where the hydrocarbon laws have been set and now the tendering can begin. Dare i say it....would't want to be out for this golden weekend ;))) | cojones | |
08/5/2024 11:25 | Obviously lots of oldies here! | apotheki | |
08/5/2024 11:08 | I'll Take That | apotheki | |
08/5/2024 10:49 | The hat is some spread! | blakieboy7 | |
08/5/2024 10:46 | That must be the most apt time ever f31 to say "I wouldn't like to be out over the weekend"! :)) If winning bids come out over the weekend and Petrel Resources is mentioned then it will be a bit of 'the old vertical' (another phrase not used in a long time): | kdickson | |
08/5/2024 09:44 | Most probably the bucket shop selling so as to convert more warrants. As you know I think that on a risk / reward basis that buying at 2p is a really potentially smart thing to do but clearly only time will tell! | apotheki | |
08/5/2024 09:37 | With only buys showing here today and a good volume I think the share price is stuck!! | felix0007 | |
07/5/2024 17:04 | Thanks for the re-post KD | felix0007 | |
07/5/2024 16:23 | Reposting this relevant post from last month. WHY KIFL FIELDS PACKAGED WITH MERJAN SUGGESTS LICENCE IS EARMARKED FOR PETREL Interesting that Merjan has been packaged with Kifl and West Kifl fields into the 'Middle Furat' license of the 5th plus round. I had always thought that the Technical Co-operation Agreement they did with Itochu in 2005-2007 was just for Merjan alone. However, looking back through all Annual Report's and Interims, it seems they also studied Kifl and West Kifl. 2005 AR: First mention of Kifl. "Of particular interest is the potential seen in the regional work for a structural trend extending to the southeast [of Merjan] and incorporating the Kifl area". The image below shows the relative positions of Merjan, Kifl and West Kifl which clearly shows how the Kifl fields are aligned SE of Merjan. Detailed study of well logs and flow data, together with maturation and AFTA analysis...will form part of the final report to the IOM's Oil Exploration Company on the potential and extent of the Merjan Field. 2008 AR: We confirmed that the oil-bearing structure [of Merjan] extended well beyond the previously mapped structure. Definitive delineation of the field's extent requires a proposed work programme of targeted wells and 3D seismic, when suitable contract arrangements are in place. [Our] study was reviewed by a panel of senior officials of the Ministry's Petroleum Contracts and Licensing Directorate and they approved the work [PCLD are the ones managing the LR5+ and LR6 rounds!]. KD note: I emailed DH June 2020 asking if perhaps Merjan oil structure linked westwards to Block 6 (it doesn't) but he also said "...it is clear from the 1982 Mobil well logs that the Merjan oil reservoir is much greater than the numbers calculated". So it's likely he's referring to the reservoir extending south eastwards to the Kifl fields. Sept 2019 Interims: The improving security situation in western Iraq has again made possible field-work on prime western desert exploration blocks, including Block 6. Similarly, the Merjan oil discovery...which has recently been packaged with Kifl & West Kifl oilfields, has arisen as a possible development project. The Merjan oilfield and surroundings [Kifl fields?!]...has recently been covered by a 1,000 km sq 3D seismic survey conducted by the Iraqi Oil Exploration Company. This enhanced data should further minimise the risks & costs of development. [KD note: There's a coincidence! 1,000kms of 3D seismic are done on 'Merjan and surroundings' then the IOM decide to add in Kifl/West Kifl to Merjan and include that as the 'Middle Furat' package in the LR5+ round. Right up Petrel's street! And DH sounds confident too]. 2019 AR: In discussions shortly before the Covid-19 pandemic, the authorities suggested that Petrel initially target “exploration of blocks in the western desert of Iraq, and present past studies done on the Merjan-Kifl-West Kifl discoveries...” Subject to the appointment of responsible officials by the new Iraqi Government, and the lifting of Covid-19 restrictions, Petrel expects to enter into re-qualification discussions with the appropriate decision-makers at the Ministry of Oil. Discussions may cover Petrel’s past studies on the Merjan-Kifl-West Kifl area, and the Mesozoic & Paleozoic potential of the Western Desert. 2020 AR: [KD: Almost identical wording to above 2019 AR except it now only says "Subject to the lifting of Covid-19 restrictions" and no mention of 'appointment of responsible officials', so they've now been appointed]. 2022 AR (June 2023): [Same wording as previous 2 'Covid delay' years re: Iraqi authorities suggesting Petrel target “exploration of blocks in the western desert of Iraq, and present past studies done on the Merjan-Kifl-West Kifl discoveries"]... ...but [new paragraph]...Our updated development proposal requires an economic Iraqi Government contractual model in order to proceed with necessary funding and / or attract equity partners [KD: So they're already thinking about funding for Merjan at this point]. [KD: I asked DH 22nd June 2023 if Itochu was still around as a potential sugar daddy DH: "Yes" 2023 Interim Statement (18th Sept): • Petrel has fine-tuned its Iraqi proposals, following feedback [KD: DH confirmed 18th Sep this does relate to Merjan...so, they've had 'guidance' back from the IOM on their submission to 'get it right']. We have contractors and suppliers identified but seek improved fiscal terms to attract partners. • An updated Merjan oil field development proposal has been submitted to the Ministry with a view to finalising a licence agreement. [KD: Say no more!] The board expects to add another one or more Non-Executive Director with the next major deal. [KD: They sound confident!] [KD: Also ties in with rumours of a new 29.9% investor/entity]. Taking all of the above into account, it feels to me that the recent new 3D seismic done by the Iraqi Oil Exploration Company, on top of Petrels original 2005-2007 study and additional analysis in 2008, has led the IOM, post Covid to now re-package Merjan, Kifl and West Kifl into the one 'Middle Furat' licence because they are all now believed to be part of the same contiguous Merjan oil structure. Its almost as if this 'Middle Furat' licence has been tailor made for Petrel given their exclusive deep knowledge of these specific fields. Also, it's important to note that out of the 16 contract areas on offer in LR5+, only this (and one other) is a DPC (Development Production Contract). All 14 others are EDPC contacts (E = Exploration). In other words, this is a known group of fields waiting to be developed into producing ones (at least 100,000 bopd) and no exploration required. | kdickson | |
07/5/2024 16:15 | Whilst close to the 3% mark had room just about for another 250k picked up at 2p via a limit order [reported at circa 15.50 pm] | apotheki | |
07/5/2024 16:10 | Put it this way the empty chair in the photo is rumoured to belong to DH but on a more serious note he does not have to be there especially if he has to be elsewhere such as in South America | apotheki | |
07/5/2024 15:49 | Bigbudda I agree with you! | felix0007 | |
07/5/2024 15:31 | DH is more likely in Dublin meeting stock brokers over the next rights issue IMOP | taxibabe1 | |
07/5/2024 15:16 | DH more likely to be in Bolivia this week but we need this Merjan deal done and dusted | bigbudda |
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