Petrel Resources Share Discussion Threads

[palwing32] 18/4/2024 15:22

Totally agree Fenners. Sadly we have been here DECADES now and seen it all before. The only oil involved with PET is snake oil.

[dreamtwister] 18/4/2024 13:38

Confirmation April 27th.... " link would not travel so here is the Article !

Iraq will hold a bidding round for oil and gas exploration contracts on April 27, the oil ministry said on Thursday.
Iraq will auction 30 new oil and gas projects in two licensing rounds distributed across the country as it seeks to produce much needed natural gas for power stations and cut imports burdening the country's budget.
The "fifth plus" round includes 16 projects, some of which were not awarded in the fifth licensing round, while the sixth round will offer mainly exploration gas blocks, the ministry said in a statement.
The country flares much of its own gas, extracted alongside crude oil at its fields, because it lacks the facilities to process it into fuel. Instead, it uses Iranian power imports to generate electricity.

[dreamtwister] 18/4/2024 13:16

When Saddam torched the oil wells, petrel Assisted the I O M with the Data

they had collated from their work program !

[goggin] 18/4/2024 13:09

From 15th April 24The agreements, signed in Washington in the presence of Iraqi Prime Minister Mohammed Shia al-Sudani and US officials, are meant to spur investment in processing 300 million standard cubic feet per day of natural gas at the Bin Umar oilfield.Halfaya Gas Company, an affiliate of Iraq's RAS Group, signed an agreement with Iraq's South Gas Company to invest in processing the gas.US companies signing memorandums of understanding with Iraqi entities on the projects included KBR, Baker Hughes, and GE. The companies did not disclose projected monetary value of the agreements.

[dreamtwister] 18/4/2024 12:58

The Akkas gas field is a significant natural gas reservoir located in Iraq’s western desert It produces both natural gas and condensates.

The total proven reserves of the Akkas gas field amount to approximately 5.6 trillion cubic feet (160×10^9 m^3

Current production is slated to be around 400 million cubic feet/day (11.4×10^6 m^3

omega trip petrel claim to block six highlighted that the block has the potential

of gas reserves/condensates. There was/is a proposal for a oil pipeline from

Iraq via the western desert en-route to a port of Jordan via the European market

the above is history i believe the tamraz connections with pipe/refinery experience

would of been the missing link ?.....Your choice Speculative investment.

Edit:.... Petrel claim to Block Six Was Verbal & Not in the Form of a Written Contract !

[dusseldorf] 18/4/2024 12:31

60 posts and no price move, I thought we had an RNS and been suspended lol. Not seen this many posts since the Tamraz days. Just speculation I guess. Good to see things are still moving generally in Iraq.

[fenners66] 18/4/2024 12:04

I see Terry is trying to persuade a new bunch of the gullible (along with those that have been desperately hoping for a real business to emerge for 20 years ) to repeat his musings to.

They spent and inordinate amount of time and effort "researching" how Tamraz was going to make them all rich.
Lots of maps and words ...

How is that "News from Paris" ? Anyone who saw them posting garbage day after day will know what I'm referring to.
Look at the share price chart - see the spikes ? Then read back through the garbage produced around those spikes.
Did anyone lose money buying the narative ?

This is just the latest version and as long as people buy into it and allow the company to continue to issue new shares to stay afloat it will continue.

Pays your money you make your choice - but it has a 20+ year track record of not being an investment..
no returns, no sales , massive losses..and lots and lots of Terry style bull.

[kdickson] 18/4/2024 11:43

Indeed Ianio. It will help 'balance out' the inevitable Chinese and Russian companies likely to win contracts.

It looks like all these American awards are not directly linked to the 16 licence areas for the LR5+ round. They are supposed to be chosen just after April 28/29th (but not neccessarily an immediate public announcement).

[ianio5691] 18/4/2024 11:11

Looks like things are definately moving and agreements now being signed....

The fact they are so willing to enter into and sign agreements with American Companies, dispels the myth that the Iraqi's are avoiding Western influence and assistance.

[ianio5691] 18/4/2024 11:08

Breaking

Iraq signs MoUs with U.S. companies in electricity, oil, and pharmaceuticals

2024-04-18 08:58


Shafaq News / Iraqi Prime Minister Mohammed Shia Al-Sudani has signed memorandums of understanding (MoUs) with major American companies to implement projects across various sectors including electricity, oil, pharmaceuticals, and the economy.

During a meeting with CEOs and representatives of prominent American companies in Washington D.C., hosted by the U.S. Chamber of Commerce, Al-Sudani addressed inquiries related to Iraq’s investment environment and the government's facilitations to the private sector, according to the PM’s media office.

“During the meeting, Prime Minister Al-Sudani oversaw signing several Memorandums of Understanding between the Iraqi Ministries of Electricity and Oil, the Iraq Development Fund, and various American corporations. MoUs were also signed by the Iraqi private sector companies and American companies in the fields of energy and pharmaceutical manufacturing.”;

In his address, the Prime Minister highlighted the openness of Iraq's investment sector to attract reputable global companies to participate in the economic boom and infrastructure projects underway in Iraq. He also highlighted the comprehensive financial, banking, and administrative reforms initiated by the government, which has achieved significant progress within the past eighteen months, as reported by his media office.

Key points from Al-Sudani's speech during the signing ceremony with major American companies include:

-Agreement on the necessity to develop bilateral relations across various sectors.

-Enhancement of the relationship to invigorate the private sector and support U.S. companies in Iraq.

-Iraq's commitment to maintaining stability amid regional challenges.

-Significant progress in economic reforms and execution of major projects.

-Introduction of a Bill addressing challenges facing the private sector.

-Ongoing efforts to achieve full compliance with international standards.

-The implementation of a treasury single account and an integrated banking system, along with updated tax collection, customs reforms, and the correct redirection of subsidies, mark significant accomplishments.

-Supporting the private sector remains a key strategy, with sovereign guarantees being provided for the first time to back projects.

-The Iraq Development Fund aims to involve the private sector, address bureaucracy, and streamline processes for companies.

-Reforms in the tax system and other administrative areas related to company branch registration have been undertaken to foster an attractive investment environment.

-The current trade volume between Iraq and the United States is below $10 billion.

-A comprehensive vision for optimal oil and gas investment has been established, with the sixth licensing round focusing on natural gas fields being offered for the first time.

-Plans are in place to achieve gas self-sufficiency and end gas imports within 3-5 years.

-Integrated projects have been initiated in 6-8 fields across provinces, following a model that develops oil, utilizes associated gas, and establishes electric stations and petrochemical industries on the same site.

-Iraq is embarking on creating a fixed platform for receiving liquefied natural gas for the first time, providing an opportunity for American and other international companies.

-A contract has been signed with KBR to conduct a study for the fixed platform, aimed at future gas reception and export.

The media office’s statement clarified that the government MoUs that were signed are:

1. Ministry of Electricity and General Electric (GE): MoU to develop the energy sector.

2. Ministry of Oil and Honeywell: Partnership agreement to develop strategic plans for oil fields and associated gas.

3. Ministry of Oil and General Electric: Agreement to enhance oil field and associated gas development.

4. Iraq Development Fund and MACK: Memorandum for the manufacture of specialized vehicles.

Private Sector Memorandums with American Companies:

1. Baxter International: Cooperation in the field of dialysis supplies.

2. KBR: Development of oil fields.

3. KBR: Processing raw gas into liquefied and associated gas.

4. US International Development Finance Corporation with National Bank of Iraq NBI: To enhance financial cooperation.

5. TransAtlantic Petroleum: Oil field management and development.

6. Honeywell: Development of associated gas fields and ending gas flaring.

7. Honeywell: Development, automation, and remote-control services.

8. Baker Hughes: Implementation of smart solutions to stop gas flaring and oil field maintenance.

9. Emerson: Technology and automation in oil fields.

10. GE: Support for the oil industry.

11. ARC Energy: Solutions for associated gas processing.

12. Emerson: Energy development and equipment provision.

13. GE: Supplying equipment for processing associated gas in power generation.

14. Honeywell: Oil field development, maintenance, and stopping gas flaring.

Noteworthy, Al-Sudani arrived in Washington on Sunday on an official visit, leading a high-ranking government and parliamentary delegation. It is his first visit to the United States since assuming office in October 2022,

The Prime Minister met with President Joe Biden, Secretary of State Anthony Blinken, the Deputy Secretary of the Treasury Wally Adeyemo, Stellar Energy's CEO Peter Gibson, Czech Prime Minister Peter Fiala, the Iraqi community, and others.

[dreamtwister] 18/4/2024 09:45

The Carbon credits of petrel Gas compressor supplied to the condensate recovery on Subba & Luhais,

the iraqi government defaulted " petrel received 7m compensation with 53m deficit

[ein4] 18/4/2024 01:41

In and out a few times, last time was before Tamraz deal . In at between 3 and 4, sat there for months and then suddenly went mad, large volumes. I got out at between 24 and 27, thats about 6 years ago maybe more. Delighted and when shares fell back to recent prices bought approx 5’million.This could be the real deal and company will be taken out at a higher price? I would think in excess of 10 p its a clean shell.

[fenners66] 18/4/2024 00:03

" Our time has come "

Really ?

That one has been rolled out on advfn every year for 20 years...
Not just PET though - the rest of the kennel too...
Not happened yet and that adds up to the equivalent of 75 years worth or so....

[steveberyl] 17/4/2024 19:27

There is only one rule in life; It keeps repeating, over and over, "It is not What you know, it is who you know"

KD made that point. Nothing else really matters.

[malc5] 17/4/2024 18:38

Yes thanks KD, youve done some good research over the years, hopefully we will all be rewarded soon.

[apotheki] 17/4/2024 17:35

In many ways it's a small World....

[kdickson] 17/4/2024 17:31

Thanks guys.
And to think the Itochu worldwide Head of Gas used to be an intern at Petrel years ago as well!

(I think that came out at last years AGM).

[felix0007] 17/4/2024 17:00

KD again thanks for the excellent and well considered information. Your last post re: Riadh was the person we communicated about only a couple of weeks ago and wow what a very interesting piece of information as to his position in the public domain in Iraq!!

[hammerr] 17/4/2024 16:43

KD,Thanks for posting your excellent research. I for one do not take it as pumping. Keep up the good work and hopefully our patience will be rewarded soon.

[dreamtwister] 17/4/2024 16:27

get your drift Steveberyl Iran will be pinned down by coalition forces

thou Iran is on the brink of becoming capable of being a nuclear threat

so the cold war could get hotter.

[kdickson] 17/4/2024 16:23

Someone on the other thread quite rightly warning that the Middle East is becoming more unstable and to beware of the latest 'pumping round'.

I can assure everyone that this is not pumping, but just a major brain dump of information sharing that I have gathered over the years and gleaned from emails and reliable contacts. We are long overdue some good news and I personally believe it will be forthcoming so I'm happy to share fact based info and opinions with all us shareholders - that's what these boards are for after all. :)

But don't bet everything on PET ;)

[palwing32] 17/4/2024 16:20

After 20+ years....unlikely.

[malc5] 17/4/2024 16:19

Good to see some blue here lets hope it lasts, fingers crossed.