Petrel Resources Share Discussion Threads

[kdickson] 12/5/2024 10:23

Im summary, 8 projects were auctioned yesterday. One received no bids (Okashat) and 5 went to Chinese companies. The remaining 2 (Sasan and Alan) were combined and went to the Iraqi KAR group.

Now, the really interesting thing is that the Middle Euphrates field (i.e. Merjan, Kifl, West Kifl) only received ONE BID - from ZPEC. So Petrel never even put in a bid!

Combine that with the fact that 'Clontarf Road' are "remaining tight lipped" suggests that they are HAVING to remain quiet in order not to endanger another contract area that may have always been their aim. i.e. the holy grail of Block 6 (now labelled Anz).

Let's not get despondent yet as things could look totally different later today or tomorrow.

[felix0007] 12/5/2024 10:12

Jim they say they hold a working interest in block 6 but that could be just cheap talk!! Also its no longer block 6 as its called Anz. I will believe this when and if i see it!!

[monis] 12/5/2024 10:10

How many blocks are left after yesterday?

[jimduggen] 12/5/2024 10:07

They hold a working interest on block 6
A partner will be lined up to take it forward

[steveberyl] 12/5/2024 09:47

Monday will be extremely interesting. Surely with the Tender business unfinished, Suspension?

[jimduggen] 12/5/2024 09:22

Block 6 will be petrels

[phil mcavity] 12/5/2024 07:12

Where`s Lawrence of Arabia when you need him?

[taxibabe1] 12/5/2024 01:47

I dont think the Irish ever had a prayer no matter how much they sucked up to the Iraqis and Palestinians. The Brics movement means that countries like Iraq chose Russio-Chinese concerns over Western countries every time, Anti-Western hostility is too deep for it to be any other way.

[jimduggen] 12/5/2024 00:53

Yes and Monday

[cojones] 11/5/2024 23:58

Is there more going on tommorow? ;)

[steveberyl] 11/5/2024 20:29

I have never seen anything as shady as this is turning out to be, Organised Chaos springs to mind. I Know from research that Arabs are known for appointing chosen Contractors, it would not be beyond PCLD to appoint a chosen company to be given a licence or contract, if no suitable Bid fits their strict criteria, it is within their Gift to do so.

PET have a big Reputation in Iraq and many Ministerial contacts, if PET were ever going to get anything out of IRAQ, this is it.

You to Muddy, g`nite

[jimduggen] 11/5/2024 20:05

I hope you are right.

[steveberyl] 11/5/2024 20:02

What on Earth could any Director say in the middle of a Bidding process???

This whole process is in the Hands of the Iraq PCLD. Nothing PET could say would change that, nor should it. I am comforted by the fact PET have not issued a statement that "they are no longer interested in IRAQ" which, at this stage, would be the only thing they could conceivably say.

Nerves of steel will prevail.

[felix0007] 11/5/2024 19:54

Jim I agree with you that we should have some communication from the directors certainly now and also in the run up to what’s going on now

[steveberyl] 11/5/2024 19:44

Just suppose certain blocks have no Bids?? This is the end game, these Blocks must be allocated within this time frame, or ARABS lose face. THAT WILL NEVER HAPPEN.
Horse-Trading will happen and ARAB`s know all about that, Horse-Trading, so do PET.


I think PET knew how to play this, right from the off, or were informed of just how to gain a tremendous advantage.

Pet are not small time in Iraq, they have connections who were vociferous in their condemnation of Roger Tamraz & Fayad, chicanery.

Pet are still in this with a great opportunity to give Holders a life changing result.

I am Confident We will succeed.

[jimduggen] 11/5/2024 19:40

Petrel directors should let us know what’s going on.
Potentially costing investors a shed load of cash is not on.
I know it’s the risk but to constantly big up their Iraq links with out substance is not on

[kdickson] 11/5/2024 19:33

Around 20 more projects are open for bidding on Sunday and Monday.

So still time for some crumbs!

[kdickson] 11/5/2024 19:31

That thought crossed my mind too Elm.