Petrel Resources Share Discussion Threads

[palwing32] 22/5/2024 10:35

Looks like the disease is worse than we thought Pauly80. There are none so blind as those that WILL not see. We tried...Credit to Steve though..hopefully not too much damage done.

[pauly80] 22/5/2024 01:23

Steveyb - you have finally woken up and accepted the truth. Congratulations. You have done something that many others cannot fathom. This company has miserably failed for 20 years and despite this we will have people trying to ‘connect the dots’. They will be trying for the next 20 years! Good luck.

[pauly80] 22/5/2024 01:04

Blakeiboy- the answer is quite simple he has changed because he has not just realised but accepted the truth. That’s the problem with many of you. In denial and accepting of things

[palwing32] 21/5/2024 20:39

Me old mucker?

[exter] 21/5/2024 20:16

How's Indonesia Pete ?

[palwing32] 21/5/2024 17:12

Because he isn't stupid.

[blakieboy7] 21/5/2024 16:25

Steve how can you go from hot to cold in the blink of an eye?!

[palwing32] 21/5/2024 16:04

Penny finally dropped Steve?

[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.