Petrel Resources Share Discussion Threads

[up just a little bit] 12/12/2024 16:52

Badly written title. The president was a former who has now won again.

[up just a little bit] 12/12/2024 15:08

Given the changes in Ghanaians government does anyone think that the prospects will change for Petrel?

[dusseldorf] 12/12/2024 13:40

never let them know your next move

[currypasty] 12/12/2024 10:12

great, but isnt that a bit early ?

[bountyfull] 12/12/2024 10:10

Yes, I put the Christmas tree up yesterday.

[bigbudda] 12/12/2024 08:18

Someone sells 50k and share price goes up 10% that sums up aim

[dusseldorf] 10/12/2024 13:58

Dilution as ever plays a massive role. Let's not forget the BOD have ~€1m of outstanding convertible debt just waiting for a trigger event, additionally, any new money would impact significantly. It 'could' e.g. be that £18.5m mcap is hit at 4p and £57m at 12p post dilution (just as examples)

[kdickson] 09/12/2024 14:29

Out of interest I looked at two small cap helium exploration companies listed on AIM. These are both pure helium plays in early stages of exploration/drilling.

Helix Exploration Mcap £18.54m
Helium One Mcap £57.29m

Petrel's current Mcap is £1.84m, so it shows the potential if PET got a helium/hydrogen licence (10p and 31p respectively). And that would just be for starters.

[kdickson] 08/12/2024 14:03

Even as far back as the June prelims (to Dec 31st 2023) they were already looking at helium opportunities...

Outlook
• The board is considering expansion opportunities for oil & gas in the MENA region, including reviewing oil & gas assets with prospectivity for other gas resources such as helium which the Board believes would offer some beneficial diversification given current market conditions outlined above. We offer a long-established record and potentially high liquidity and capital appreciation for the right story. As investors re-focus on 'hard industries' and cash flow, this is a time of opportunity.

[kdickson] 08/12/2024 13:43

An article from just after the Sept interims.


Petrel Resources Shifts Focus to Critical Minerals

Petrel Resources plc, a hydrocarbon exploration company with operations in Iraq and Ghana, has announced its pivot towards securing and developing critical resource minerals like Helium, given the EU’s need to reduce reliance on Chinese-controlled minerals.

Despite market challenges for junior explorers and a global push for green energy, Petrel is leveraging its expertise and EU funding opportunities to target undeveloped discoveries in geopolitically favorable regions.

The company has also expressed readiness to support its working capital and explore financing options for forthcoming projects.

[taxibabe1] 03/12/2024 14:53

It's hardly gained it's down 2/3 on the price it was before the Iraqi fantasy came to an end

[felix0007] 03/12/2024 13:06

Still have a small holding here as a just in case holding but not overly impressed with the complete lack of comms from the BoD

[dusseldorf] 03/12/2024 11:52

Is this the new norm? Petrel gains and no-one cares anymore? Perhaps this is 'job done' by board and now time to send this as a moonshot while no-one is looking.

[kdickson] 27/11/2024 17:03

This article on the World Economic Forum website nicely summarises the reasons why I believe PET is now in the right place at the right time and pursuing the right (high demand) resources of helium/hydrogen (some bold highlights are mine).

----------‐---‐------------------‐-

White hydrogen: 5 critical questions answered

Aug 29, 2024


White hydrogen is an efficient fuel — but the nascent industry has a way to go before delivering energy at scale. Image: Getty Images/iStockphoto
Simon FlowersChairman and Chief Analyst, Wood Mackenzie
Richard HoodSenior Research Manager, Subsurface, Wood Mackenzie


• Global low-carbon hydrogen demand is forecast to reach almost 200 million tonnes per annum by 2050

• As the global hydrogen industry faces financial and demand-side challenges, many are increasingly looking to white hydrogen as an efficient alternative

• This article answers five of the most pressing questions about the white hydrogen industry.

Faced with high costs, midstream transportation challenges, and the slow development of demand, the low-carbon hydrogen economy faces lowered expectations around its growth in the near term. Developers and consumers continue exploring alternative forms of low-carbon hydrogen, among them white hydrogen.

White hydrogen’s superpower is that, unlike alternatives such as green or blue which require inefficient conversion processes, it comes ready-made and at a much lower cost.

With their exploration and development expertise, oil and gas companies are well-placed to become champions of this emerging low-carbon molecule.

The world needs low-carbon hydrogen to decarbonize. Some suggest that naturally occurring hydrogen could be a potential market disruptor — but, as a nascent industry only now beginning to gain ground, there are currently many questions surrounding white hydrogen and its potential.

Here are five of the most important questions about white hydrogen answered.


1. What is white hydrogen?
Like oil and gas, white hydrogen is naturally occurring. Generated by continuous geochemical reactions in hard rock, white hydrogen’s characteristics differ from hydrocarbon molecules in that they are small and light and more likely to escape cap rocks.

More research is still required, with practical field experience and data collection needed to establish the key components of a hydrogen play.


2. Why is white hydrogen generating interest right now?
The world needs low-carbon hydrogen to decarbonize. Global low-carbon hydrogen demand is forecast to reach almost 200 Mtpa (million tonnes per annum) by 2050, up from 1 Mtpa today in WoodMac’s base case, with green hydrogen supply meeting the bulk of this future demand.

Green hydrogen’s production costs, though, remain stubbornly high, with a range as wide as US$6/kg to US$12/kg. This is driven by green hydrogen’s need for high availability of renewable power for electrolysis. It will also depend for years on substantial subsidies to work towards a commercial threshold in the range of US$3/kg.

White hydrogen offers a much cheaper alternative resource. Without the need for inefficient energy conversion or manufacturing processes, white hydrogen produced at scale from reservoirs sited close to end-user markets could be delivered well below US$1/kg. The co-existence of helium may also offer a valuable commercial lever for white hydrogen exploitation.


3. How significant an energy source could white hydrogen become?
White hydrogen is not an energy transition panacea. Currently, WoodMac estimates that alternative forms of low-carbon hydrogen production — including methane pyrolysis, gasification and the extraction of naturally occurring white hydrogen — combined will form only a small portion of future supply.

This outlook may change in the coming decade if successful pilot projects prove technical and commercial feasibility and supportive policy frameworks are introduced. Based on prospective resource volumes, white hydrogen production could reach 17 Mtpa by 2050. Capturing similar levels of subsidy support to green hydrogen would also significantly boost infrastructure, displacing some higher-cost manufactured hydrogen production.


The white hydrogen industry is still nascent — though momentum is building. Image: Wood Mackenzie


4. Who is involved?
The white hydrogen industry is truly nascent. A handful of innovators backed by private investment are leading the way in trying to understand the prospective resource. To date, the only operational white hydrogen project is the Bourakébougou field in Mali, which delivers electricity to a small village.

Globally, some countries are considering the opportunity to develop white hydrogen, enabling exploration-led activity through amendments to existing petroleum and mining codes. But regulating the unknown is never straightforward. In Europe, France has led the way in recognizing the potential of white hydrogen, modifying its mining code as a result, whereas the German government has announced it sees no extraction opportunity in naturally occurring hydrogen. Australia is a hotspot for exploration activity, an outcome of several regional governments adding it to the list of regulated substances and allocating budgets and grants.


5. Can oil and gas companies lead the way?
With significant work needed to gain a full technical understanding of how hydrogen molecules are generated and stored in the subsurface, petroleum industry techniques are critical to unlocking white hydrogen.

With their subsurface expertise, white hydrogen should hit the sweet spot for oil and gas companies. Given the right regulations and incentives, governments could enable exploration opportunities for these companies and kick-start the sector. Block licensing, exploration and appraisal drilling and fiscal terms could broadly mirror those for oil and gas.

Oil and gas companies also have the capital to drive white hydrogen forward, just as they are doing with carbon capture, utilization and storage. This could prove transformational, as even the most advanced white hydrogen projects being led by small privately backed startups still lack firm timeframes to Final Investment Decision and face significant obstacles.

Still unproven, white hydrogen has the potential to form part of the future portfolio of low-carbon molecules for some oil and gas companies, which will also include biomethane, e-methane, blue and green hydrogen and its derivatives. Indeed, white hydrogen would likely displace some blue and green developments. Technology, capital and regulation hold the key.


https://www.weforum.org/stories/2024/08/white-hydrogen-5-critical-questions-answered/

[bigbudda] 25/11/2024 15:02

From these levels Clon and PET will be multi baggers if when they get funding from
EU or elsewhere

[kdickson] 25/11/2024 14:32

My small monthy top up just gone through.

[taxibabe1] 22/11/2024 13:47

Love to be but at this price no point in selling

[dusseldorf] 22/11/2024 11:17

If we were back at 2-3p, I'd say someone knows something, given we're still skirting along the all time low valuation and it's in isolation, I'd suggest it's speculative.

..but it is Friday - would you want to be out over the weekend? 😉

[felix0007] 22/11/2024 10:55

Nice buy this morning a full price. Does someone know something??

[taxibabe1] 19/11/2024 12:01

Totally scam city. A non existent lifestyle company pushing out tripe to lure in unsuspecting punters so directors and bucket shops can offload their shares. Rinse and repeat. Helium is a gas isn't it? Very appropriate

[dusseldorf] 13/11/2024 13:50

apfindley - you can't rule out, however statistically unlikely, that something positive will come from this pivot which by all accounts is much easier to reach than black gold in unstable countries. I've made my view clear on BOD before, but you can't deny, they've been able to tell a good story/have positive raises and progress in CLON, which in terms of securing funding to support a stable and proven exploration of gas in friendly countries is a positive factor.

I'm no bull right now, but there is always hope.

[apfindley] 13/11/2024 11:00

Interesting how?It's a low volume pump from the usual suspects. Beware.Next will come stories of fake sheikhs pumping billions of dollars in here, or daft valuation talk, based ofln what companies 5000 miles away are drilling.BEWARE

[felix0007] 13/11/2024 10:38

Interesting movement today!!

[cojones] 13/11/2024 10:26

Not ramping but i think the PETweiller might be waking up again ;)