Petrel Resources Share Discussion Threads

[dusseldorf] 16/5/2024 17:56

No-one noticed the 7.5m in delayed trades then?

Today:


Hard to tell what day(s) these are from. but from lse appears it was yesterday morning

Yesterday:

[the diddymen] 16/5/2024 17:47

Ford Play - spot on.

[ford play] 16/5/2024 17:28

Have to admit, I was one of the starry eyed PET believers twenty years ago, attending several AGM's and listened to Horgan spinning the yarns about off to rubber stamp block six. Like a numpty I watched the big S and L contract spike come and go, without taking profits, as I was succoured into the £10 plus much spouted future share price. I sold out in late 2009 at around 20 and 30p crystallising big losses. Hurt at the time, but I could at least move on the learn.Fifteen years down this line, the share price is on the floor, but the blind hope of shareholders remains. As an outsider, I'd ask those holding to ask themselves, why would the Iraqis consider awarding a contract to three aging Irishmen ( Horgans 65, Teeling 78) operating out of a shared office in Dublin, with no staff, little cash, and no history of drilling a well?

[apotheki] 16/5/2024 16:45

That is more the point Dusseldorf - there are buyers out there for sure hence why MM's looking for lines of stock in size - placing very unlikely [at these derisory prices]

[dusseldorf] 16/5/2024 16:16

Looks like MM's happy to absorb any sale volume right now - can quote to drop everything

[maxk] 16/5/2024 15:46

steve

It look like JT has stripped your knickers off again ..

[steveberyl] 16/5/2024 15:34

Maybe a half billion shares at 1p raising £5m to secure Block 6 is better than a bank loan? would still see shares Rocket

RNS incoming ?

[dusseldorf] 16/5/2024 15:15

Must be a big sell being worked as each gain over past 3 days has been removed with no notable sells being made. Placement?

e.g. looking at trades today there's been 690k buys, no notable sells and the price has dropped 3 times.

[fenners66] 16/5/2024 13:43

After 20 years of waiting for news....
its time for the deluded to accept that PET have no interest in Block 6
Nothing was ever signed , I could make an offer for Buckingham Palace and the guard on the gate
may say ok mate - but I will never own it or be invited in.

Its a myth, a legend, a narrative , with just enough of the elements of greed to get people to gamble their
hard earned...

[marcbull] 16/5/2024 13:23

Petrel always talked about having made a proposal for Merjan and Block 6. Never ever a bid. That is just hallucinations from board posters. They made some proposals, hoping that there would be no bids for those . The economics from the Iraqi oil ministery just did not support any bids. Look who received those contracts; Kurds, chinese companies that can obvioulsy work for costs no western companies can compete with. Unfortunately there was a bid for Merjan so they may have lost it for good (if not the winner would be interested to work wth PET for som odd reason) . They obviously knew this, calculated with it an made the proposals, Now we just can hope that we could get something for Block 6 , but I wouldn´t see the chances too high. All those competitors of course also can make proposals and most probably can do it cheaper than PET again . So that is the situation now. When the whole process is over, we certainly will get a news relase about it. We just can hope for the best .

[bracke] 16/5/2024 13:03

Good day fenners

PET The Never Ending Story.


PET MONTHLY

[fenners66] 16/5/2024 12:16

mcguines
16 May '24 - 12:03 - 22316 of 22316
"Not unlike the Count of Monte Cristo who after digging his tunnel for 20 years comes upon live roots. He smirks and says to himself aloud, "Yippee, only 5 years to go"

Except the PET shareholders are digging the wrong way - getting in deeper.
Have you seen the 20 year share price performance?

[mcguines] 16/5/2024 12:03

Not unlike the Count of Monte Cristo who after digging his tunnel for 20 years comes upon live roots. He smirks and says to himself aloud, "Yippee, only 5 years to go".

[fenners66] 16/5/2024 12:00

adjusted average holding price by trading movements up and down whilst the company has achieved nothing but losses.
How do you do that ?
You sell some to the next "mark"
No compassion its just business.

But the point is , with no trading , no sales , no profits , no projects - how does the share price move?

Narrative.
Pump and dump.
Basically writ large on the other thread , keep doing it and trying to take advantage of some other mug - for as long as it takes - 20 years not enough.

But why not just invest ?
You know buy into a company that does stuff and makes money.
You would be surprised just how much could be made from investing....

[blakieboy7] 16/5/2024 11:11

PET Prison

[dusseldorf] 16/5/2024 10:49

Join the club 😆

[maxk] 16/5/2024 10:19

"I'm in for the long term" 🤬

[lippe] 16/5/2024 09:59

Dave and Johno, the Burke and Hare of AIM ...

[palwing32] 16/5/2024 09:50

"Break even can be adjusted though" is more commonly known as throwing good money after bad. Good luck.

[dusseldorf] 16/5/2024 09:34

Pauly80 - break even can be adjusted though, as I posted yesterday I shifted mine from in at 25p down to ~2.5p with regular DCA and sold a chunk at profit (when price was stable pre-weekend) to de-risk a bit (Moved that to Microstrategy a Bitcoin proxy value tracker in the USA), so even on recent speculation I had opportunity to exit with full profits but I chose to stay in with the balance to see what comes, I suspect I'm not alone and those people who you think are trapped are probably alot closer to realising gains than you think.

My ideal scenario is some corporate action / RTO and exit PET 15p+ literally move it all into Microstrategy

[dusseldorf] 16/5/2024 08:56

Pauly80 - I'm as skeptical as the next guy and no fan of BOD inaction/lack of due diligence on Tamraz scammers, but everyone who is negative has had a somewhat easy ride calling the down side. PET has effectively been a shell company it's entire existence with a couple of bits of paper signed, easy fodder. The down side of Pet is pretty clear 20 years and essentially nothing to show for it bar licenses its been unable to pursue, however, there remains a possibility something positive can be created be it by gaining some crumbs at a large table or possibly an RTO (use up some of the huge losses and listing). The BOD has close to 30% equity and €1m convertible debt (deferred salaries) so they are ideally positioned to benefit from any corporate action.

So while I still have doubts of a positive outcome, I'm also aware a positive outcome could 10-20x+ the price and that gamble is really why longer-term holders are here.