Petrel Resources Share Discussion Threads

[festario] 21/5/2024 15:43

OXS please don't remind me.

[highlpark] 21/5/2024 15:33

MM's still on the hunt for large sales, something going on in the background.

[steveberyl] 21/5/2024 15:22

NOT SOLD A BEAN. But consider them as worthless as, Sirius Minerals/Oxus Gold/Churchill.

[cojones] 21/5/2024 15:13

Looks like he mustve sold earlier....always the way lol!! i do sympathise that the silence from the BOD is v frustrating though ;)

[maxk] 21/5/2024 14:52

For steve ..

[kdickson] 21/5/2024 14:20

You alright Steve? I thought you sounded hopeful the other day. What's turned you all doom and gloom?

steveberyl 19 May'24-11:57-22363 of 22390

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.

[kdickson] 21/5/2024 12:38

Anz (Block 6) development

Here are my personal thoughts on how things might evolve if Petrel successfully negotiate a contract for Anz (re-branded Block 6).

First of all, because the Petrel board aren't getting any younger, and their families and friends are so highly invested in the company, the main focus must be to get the share price up so everyone can finally benefit from the decades of belief and waiting.

I don't think they really want to become a long term oil/gas production company in their own right. They've always been an exploration company at heart with a view to wanting to farm out once discoveries and reserves have been proven up to a certain stage to do a deal.

With that in mind, they could drill a well or two (at £8m per well say) into each of the 4 huge structures they've already identified, one of which has a possible 500million barrels of recoverable oil.
This wouldn't prove up the whole field/reservoir but would prove the geological  model somewhat and, combined with existing 3D seismic/other petroleum reservoir analysis, be enough for a reserves report to be produced that could be used for valuation purposes.

On announcement of the initial contract, the price would charge up to at least 20p and funding could be arranged at this new higher level.
Let's say they wanted to drill a few exploratory  wells at a total cost of £50million.

A £50m placing at 16p would take total issued shares to 500m (currently 184m).

If the drilling programme 'only' proved up 2 billion barrels and we use an in-the-ground value of $8 (£6) per barrel (based on a very conservative 10% of market oil price as rule of thumb, then that's £12 billion mcap or a share price (buyout price?) of £24.

Leaves plenty future profits on the table and plenty room for negotiating a buyout price. I'd be happy with £5 a share!

Please pull apart the above. Its only my guess of one scenario.

[1teemore] 20/5/2024 15:24

P80 -You are advertising yourself as a fool if you think that JT is reading this board.

[dusseldorf] 20/5/2024 14:38

Beside the fact Teeling and Horgan high fiving each other is more likely to result in injury as opposed to joy, you're assuming they have nothing better to do than access these boards where many posters have no economic interest in the success or otherwise of Petrel and seem to gain self gratification from adding nothing in any intellectual capacity to a conversation - with input more akin to a child like 'told you so' and 'na na nanna nah', I think not

We have to accept the only things we'll ever see from them are:
a) A delay on any notable action with suitable narrative, leading to a dilution to fund delay
..or
b) An epic RNS of gargantuan proportions multiplying the price overnight and killing 20 years of FUD and insta-retiring the BOD

Anyone holding is really only focusing on b). So as ever we can just pass time until a) & b) play out

[dreamtwister] 20/5/2024 14:18

another contract to the Brics Community...20/05/2024...Iraq Second Largest Gas Field.



Under a 2019 "oil for construction" deal, building projects in Iraq are funded by the sale of 100,000 barrels per day of Iraqi oil to China.

[pauly80] 20/5/2024 13:58

How teeling and horgan must be giggling and high fiving each other reading the posts here. They can't believe their luck and must be thanking the individual that starting discussions in the Iranian president.They were probably thinking of another rumour to keep us mugs here for a few more months and now they can sit back and let people discuss Iranian politics and the direct impact that will have on the companies contract deals with the Iraqis.

[dusseldorf] 20/5/2024 13:58

One thing is certain next 4 - 6 weeks (range from past RNS's) the FY results must be declared and no doubt some commentary/update on the recent round and plans... perhaps we have to wait until then for any update, or maybe by surprise(!)

[1teemore] 20/5/2024 13:31

His passing is good for the people of Iran- another tyrant gone!

[taxibabe1] 20/5/2024 12:39

True, but it proves the Iranian leadership isnt untouchable and they can be got

[alicat1] 20/5/2024 12:24

Isn’t the Iranian PM just a glove puppet of the Ayatollah. Can’t imagine a change making much difference.

[palwing32] 20/5/2024 12:21

hTTps://i.imgflip.com/3ana1v.jpg

[taxibabe1] 20/5/2024 11:53

Anything that diminishes Iranian influence in Iraq is bullish for Western companies as opposed to Chinese and Russian ones

[steveberyl] 20/5/2024 10:45

post 22374 obviously correct in every aspect. If UK PM was killed it would be very significant to Scotland/Wales/Ireland to say Iranian death does not impact Middle East is to Deny World is round.

We are now looking at a similar scenario as when Shah of Persia was deposed, it is on a knife edge.

Thankfully IRAQ has USA Presence which is some comfort.

[cojones] 20/5/2024 10:41

Thanks KD,
Thats what DHorgan had said all along... that PET would negotiate directly with the minisrry of oil.
There must be some crumbs waiting in the bin surely ;)