Petrel Resources Share Discussion Threads

[dusseldorf] 20/5/2024 10:31

Pauly80 - The president of a country a hop skip and a jump away from where PET is looking to secure a prospect dying suddenly is noteworthy conversation. Not with you, I mean some people who are noteworthy.

[pauly80] 20/5/2024 10:25

His death his irrelevant dusselldorf.
Looks like you’re losing the plot with trying to ‘join the dots’.

[apotheki] 20/5/2024 07:46

Not good news from his perspective!

[blakieboy7] 20/5/2024 07:30

Doubt it will make any difference

[dusseldorf] 20/5/2024 06:59

Is the Iranian presidents death good news or bad news for Iraq? No idea really.

[maxk] 19/5/2024 19:29

Honour

lol lol 🤣

[steveberyl] 19/5/2024 15:38

My thoughts on timescale are based on BOD Panicking about the Sp. Well documented that the 3 Musketeers have shed loads of stock, a mass selloff by Holders, whilst not Catastrophic, it would destroy value/credibility altogether, and be CONVEYED to IRAQ which would put any agreements in JEOPARDY, Bearing in mind what Substance is attached to HONOUR, IN IRAQ. PET would by Association of ignoring Holders, correctly be accused of DISHONOURABLE BEHAVIOUR, and could be demonstrated to the ARABS as typical White Colonial betrayal. An RNS is vital first off and so is, "A DEAL" asap.

This Honour aspect is extremely important. Pet must Demonstrate its "HONOURABILITY"

[kdickson] 19/5/2024 15:13

Agree with you steve on 15p to 20p instantly then £'s.

I think DH's aim would be to prove up one or two of the already identified structures by drilling a well or three then sell to the highest bidder (SP might be £2+ by then...maybe a lot more)

[kdickson] 19/5/2024 15:10

Pauly, re your earlier post, I'd prefer the second option but suspect it's a sprinkling of the first (we've all got to be lunatics to still be here mind you) plus a good dose of boring old research and 'joining the dots'.

Good luck to us all over the next few weeks. If we're going to successfully conclude an award my feeling is it will be weeks, not months.

[kdickson] 19/5/2024 15:03

Not sure about next few days/couple of weeks Steve. Lets not get too carried away with likely timescales :)).

I believe an RNS will simply come out of the blue one day in the not too distant future.

[smcl] 19/5/2024 14:33

Let’s hope so.

[steveberyl] 19/5/2024 11:57

Should Pet get (ANZ) Within next few days, 2 weeks no more, I Would bet the FARM on them, remaining as a long term investor. 15-20p minimum instantly, then progress into £££`s obviously a JV followed by an eventual T/O.

[dreamtwister] 19/5/2024 11:03

Russia has discovered.



Chinese Chequers in the middle east oil fields and behind the scenes African nations
becoming the Garden of exploration/extraction and exploitation. Brics community
of the new world order.



n/Iraq oil resumption negotiations of oil Flowing has been halted as oil company's refusal of tweaking
the psc contracts, the leverage for oil production is $8 but it costs the oil Co's $26.

until the alternative pipeline is signed of and producing, Talks will be on going

[blakieboy7] 19/5/2024 09:45

Some kind of update RNS would be useful

[bronislav] 19/5/2024 09:40

Teeling will not end up holding loads of shares in something thats worthless.Hebis a succesdful business man proven because he has made money.Dont think like a privste investor but think like the ones running the company..We have had 2 relatively recent spikes which is a good opportunity to dump shares...Ive no way of telling if pet will get anything in Iraq but irrespective of whether we do or dont the directors will have benefited over the years.

[felix0007] 19/5/2024 07:38

Good info KD and many thanks again. The thing with Pet is that no of these things are ever straight forward and there is always a curve ball thrown into the mix! Lets hope that this curve ball works out in our favour!! As a matter of interest what would be impact on the share price be if we were awarded Anz??

[kdickson] 18/5/2024 17:28

The door is open for international companies to negotiate directly with the Ministry

And here it is in black and white, straight from the Oil Ministry last night:




With the licensing rounds now out of the way, the way is clear for ongoing negotiations with individual companies to be brought to their conclusions.

We are one of those companies.
Remember that PET have been discussing/liaising with the IOM in a meaningful way since 2019, just before Covid. Plenty time to have ironed out any wrinkles in submitted proposals and incorporate IOM feedback.

To back up the above, I saw an email from DH a few days ago asking why he had not bid. He replied that "we prefer direct negotiations".

Just the small, but flexible, matter of haggling over final fiscal terms to ensure funding will be raisable on the London market.

[steveberyl] 18/5/2024 17:09

Succinct, Concise analysis, it is what it is. Thanks KD.


Block 6 licence has both Oil & Gas Potential, that must be worth a tidy sum.

[kdickson] 18/5/2024 15:22

To me, this headline from a much respected oil & gas news website, makes it even more likely that further, individually negotiated contracts, will be forthcoming in the not too distant future.



The Iraqi's long term gas growth plan was always to increase use of existing flared gas (i.e. 'associated' gas) combined with discovering & developing new 'free' gas.

It's the failure to attract companies to the Western Desert blocks (where all the 'free' gas is) that is going to put a dent in the Iraqi's plans.

That's why I believe they will be very keen to negotiate terms attractive to any companies that want a deal and are ready to move quickly (aka Petrel and Anz license).

Away from the rigours of, and international spotlight on, the licensing rounds and their supposed bid transparency process, the Iraqi's will now have much more flexibility to agree customised terms with individual companies behind closed doors.

Its like Stroytransgaz getting that Block 17 on the Syrian border a few years ago, or the very recent award of Akkas to that small unknown Ukranian company.

The Iraqi's can effectively award anything if they really want to.

And before anyone pores cold water on this and says its the same old hopes and fantasies we've had for 20 years now. Why should it be different now!?

Past history really is not always an indicator of future actions (a habit a lot of us may have understandably defaulted to), and I believe this is the first time in 20 years that Iraq is finally clear of any war, clear of ISIS, has a solid government in place, has finally re-introduced PSA type contracts and has agreed multiple major contracts and is seen to be signing multiple projects and MOU's. A pro-active and business friendly government with a plan for their oil and gas sector.

There are never any guarantees but it would be a shame to not be open minded about this current unique period and let the 'same old same old' habits blinker clear thinking.

[crazychris3] 17/5/2024 16:28

Nearly the weekend, wouldn't want to be out of this one, 20 years waiting, now's the time to rocket, must be time for my meds, have a good weekend, see you all bright and early Monday

[rebelsunited] 17/5/2024 15:56

Direct link to PET on Aquis exchange

[highlpark] 17/5/2024 15:56

Look at the trades page in the menu for all trades including Aquis.