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PET Petrel Resources Plc

1.425
0.05 (3.64%)
14 Jun 2024 - Closed
Delayed by 15 minutes
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
  0.05 3.64% 1.425 1.40 1.45 1.425 1.375 1.38 362,192 13:48:46
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 0 -311k -0.0020 -7.10 2.23M
Petrel Resources Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker PET. The last closing price for Petrel Resources was 1.38p. Over the last year, Petrel Resources shares have traded in a share price range of 0.85p to 3.45p.

Petrel Resources currently has 157,038,467 shares in issue. The market capitalisation of Petrel Resources is £2.23 million. Petrel Resources has a price to earnings ratio (PE ratio) of -7.10.

Petrel Resources Share Discussion Threads

Showing 38176 to 38196 of 38700 messages
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DateSubjectAuthorDiscuss
12/5/2024
17:27
@f31. Official? There was only an “official̶1; proposal as per the RNSs. No bid was ever announced. This has been invented by shareholders. The company have been clear to the market in RNSs ie declaring making a proposal. Not a bid. It really is that simple so I’m surprised at why people as harping on about bids.
haveapunt1
12/5/2024
17:16
Pet could only bid with a realistic possibility of winning in a JV arrangement.
If an award was worth say 200 billion over a say 10 year period- 5% of that would be 10 billion for example. Massive relate for Pet- if that were the case or a similar scenario. It would appear that it might not take a lot to make Pet into something spectacular. Just the humble opinions of a long suffering blah blah….

smcl
12/5/2024
16:59
Steve there can be an awful lot of maybe's here but the bottom line is that Pet did not bid!! You've got to be in it to win it simple as that!!
felix0007
12/5/2024
16:59
Steve there can be an awful lot of maybe's here but the bottom line is that Pet did not bid!! You've got to be in it to win it simple as that!!
felix0007
12/5/2024
16:32
Contradictory? Maybe Chinese have done a deal with Pet to ensure Chinese deal was in fact the only one. A Pet Bid may well have been submitted for Merjan and Pet made a proposal to Chinese that Pet would Withdraw if Pet was given a minor JV role in order that Chinese did not feel `Isolated`

Any JV will not be highlighted by Iraq, that info will only come Next week sometime, if in fact a JV was cobbled together. Lets face it, a JV would suit PET for multiple reasons and holders as well. We can only wait.

Either way, I would bet a lot of Money that Pet will not leave Iraq Empty handed. I forgot, I already have Bet a lot of Money on Pet.

steveberyl
12/5/2024
15:58
Malc5,
It is as you say, you don’t spend 20 years in a race to simply turn away at the finish line.
Which how it feels like.
So, I would totally understand it if they would have sacrificed Merjan in order to secure some other great win.
But “sacrificing” Merjan would have meant NOT putting a bid in ?

It now turns out of course that somehow they have indeed NOT put a bid in, but this looks to me as completely contradictory to what was officially communicated ?
It’s all very strange.

Hopefully you are right and e.g. perhaps they have withdrawn the Merjan bid at the last moment, hence leaving the Chinese bid as the only (remaining) bid.

Looks like no further news today on any of this.
We’ll have to wait now to see what develops tomorrow and/or the rest of the week.

f31
12/5/2024
15:56
100% it isn’t over.

Should see another share rise tomorrow as it becomes more leaky

jimduggen
12/5/2024
15:43
Looks like the weekend ramp machine is in motion.Does nobody learn from the previous ramping attempts which have all ended up at nothing but lies and fake articles and straw-clutching for non-existant links between petrel and major companies.The dame people pumping now are the ones who orchestrated the FAKE Sheik nonsense which lured people in a couple years ago.And where is the sheik now, where are all those stories and links...in the dustbin of lies as usual.Have a word with yourselves, this is nothing more than a pump by a group of con artist private investors, fleecing other private investors.
apfindley
12/5/2024
15:39
Steve yes Devon Loch seems very relevant and as I said rant over!! Why 4.40pm tomorrow as it may be too late by then??
felix0007
12/5/2024
15:26
To take the Analogy of Grand National a stage further into the reality of the Situation as it is at this very moment. I suggest everybody remembers Devon Loch.

This is not over, not by a long chalk. Put the claws and Knives away until Monday 13/05/24 at 4.40pm

steveberyl
12/5/2024
15:20
Yes Totally agree Phil, this is far from over, merjan has been sacrificed imo, you dont spend 20 years in a race to simply turn away at the finish line, lets see what happens.
malc5
12/5/2024
15:19
Phil

That sounds like the triumph of hope over experience 🎈

maxk
12/5/2024
15:08
We have NOO clue what the `Proposal` referred to.
This charade in the Arab`s tent is far from over.
I haven`t even heard that fat lady warming up.
I`m confident that the last 20 years in the wilderness has not been wasted.

phil mcavity
12/5/2024
15:06
I suggest David'sinbox needs filling up. You can only mess up so many times before it is time to go but to infer something that perhaps isn't true is a step up on the incompetence scale? To put it kindly. Clarification would put this to bed.
elmfield
12/5/2024
15:05
Good afternoon all.

Having been following the posts of the last few days it seems there is a lot of clutching at straws. Too many false dawns over the years with Teeling and Horgan at the helm as we have all come to know.

Horgan has some serious question to answer to us shareholders as his years of spin especially in recent times on what has been a long journey just does not cut the mustard with me and no doubt some others on here.

PET has little if anything to show from what has been spin, spin and more spin from Horgan while all the while salaries are either paid or deferred.

3mio
12/5/2024
15:01
I couldn’t agree more with your comments F31. How can they spend so much time and effort and not put in a bid!!!
hammerr
12/5/2024
14:44
I still don’t understand any of it about Merjan, I’m still flabbergasted.
If someone would have suggested a week ago that Petrel had not put in a bid for Merjan, I would have taken that as utter nonsense and completely unthinkable.
I mean, come on - it’s Merjan we are talking about !!!

At the AGM David clearly said they had put in a proposal AND that we were the only one.
Using the words “we are the only one” (“as per May 2023”, I believe he added) suggests that he was referring to this 5+ bidding round ?
He then even refers to Petrel’s “fine-tuned” submission in his Interim Statement on 18th September.

Jimduggen’s link…..
This report clearly states that the deadline for submitting applications and bids for the 5+ round was on 15th June 2023.
In other words, David’s statement of…. “we have submitted a proposal”… at the AGM in July and in the Interim’s on 18th September, (so…AFTER the bid deadline !!), could hardly be interpretated as anything else but a statement that Petrel had submitted a bid for Merjan in this 5+ round ?

So, for all kind of reasons, including e.g. our historical studies on Merjan within a TCA with Iraq, but especially also because of the above mentioning of their Merjan proposal submission both in the AGM and in the Interims on 18th September, shareholders were fully justified to conclude (if not being convinced ! ) that Petrel had put in a bid for Merjan.
And not only shareholders, but also the Market in general, hence the strongly increased recent trading, coupled with price increase.

Some significant trading took therefore place on justified assumptions of Petrel’s participation in the bid round.
So it seems unavoidable to me that Petrel HAS to come out with some clarification statement on Monday or anyway immediately after the bid rounds have completed i.e. next week ??

For the same reasons as above, we can also not be sure that a bid has been put in for Block 6 (even when the Interim referred to submitted proposalSSS), but hopefully some positive news can still be included in such statement, be it either via some form of consortium participation on Block 6, or perhaps with a back-up plan already in place via a pre-agreed RTO

f31
12/5/2024
14:37
Is that it for today then?
malc5
12/5/2024
14:26
Sorry lol.
jimduggen
12/5/2024
13:46
That was an article from 2018....getting us all excited lol ;)
cojones
12/5/2024
13:40
ITOCHU qualified bidder
jimduggen
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