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PET Petrel Resources Plc

1.45
-0.10 (-6.45%)
Last Updated: 08:38:18
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Petrel Resources Plc LSE:PET London Ordinary Share IE0001340177 ORD EUR0.0125 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.10 -6.45% 1.45 1.30 1.60 1.55 1.45 1.55 93,869 08:38:18
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 0 -311k -0.0020 -7.25 2.28M
Petrel Resources Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker PET. The last closing price for Petrel Resources was 1.55p. Over the last year, Petrel Resources shares have traded in a share price range of 0.85p to 3.45p.

Petrel Resources currently has 157,038,467 shares in issue. The market capitalisation of Petrel Resources is £2.28 million. Petrel Resources has a price to earnings ratio (PE ratio) of -7.25.

Petrel Resources Share Discussion Threads

Showing 37451 to 37471 of 37475 messages
Chat Pages: 1499  1498  1497  1496  1495  1494  1493  1492  1491  1490  1489  1488  Older
DateSubjectAuthorDiscuss
22/3/2024
10:49
Tower Resources (TRP) is the Stock to be in
riskyinvestor
21/3/2024
08:08
Obviously someone got wind of another placing and condolidation
taxibabe
20/3/2024
13:47
800k at 1.6Interesting trades, wonder are they delayed from yesterday's steep dropCurrent price 1 5 - 1.7, can see anyone getting volume in the middle of the spread unless a mm is desperate to unload. Not big in money terms though £12.8k worth
goggin
16/3/2024
09:56
Some end of tax year selling as with many other small caps has created a great buying opportunity in my opinion for next week!
apotheki
12/3/2024
20:59
Monecor dumping also have 10 mill plus left
taxibabe
12/3/2024
20:57
Cantor dumping 10 mill to go
taxibabe
11/3/2024
09:11
Monfctr still dumping
taxibabe
08/3/2024
08:26
My top up this morning showing as a sell!! grrrr!!
felix0007
05/3/2024
09:32
a very high-ranking official from the Kremlin said recently at a meeting with senior government figures from Iran that: “By keeping the West out of energy deals in Iraq – and Baghdad closer to the new Iran-Saudi axis - the end of Western hegemony in the Middle East will become the decisive chapter in the West’s final demise,” a senior source who works closely with the European Union’s energy security apparatus exclusively told OilPrice.com.
dreamtwister
01/3/2024
17:19
All ancient history that. Shame though.
kdickson
01/3/2024
16:42
between 2011-12 petrel burned $3m on more or less nothing and the 10 % carried profit interest (in a 87k barrel/day project) was 'disappeared' with:
"Difficulties arose in the execution of the contract and after extensive negotiations Petrel withdrew from the contract with $ 7m in compensation and a 10% net profits interest. The project is virtually complete but we expect no further payment. "

..So we carry 10% net profit interest but 'we expect no further payment' - who was getting the 10% then if not us.

dusseldorf
01/3/2024
16:00
What's this old chestnut? I don't know the history, maybe someone can fill me in. In 2010 we had a 10% stake. In 2016 it was producing 32 million barrels of oil per year.

hxxps://www.gem.wiki/Luhais_Oil_Field_(Iraq)

Supposedly this 'wiki' was updated on 13th Feb 2024. It references this article

hxxps://www.iraq-businessnews.com/2011/06/27/petrel-applies-to-participate-in-4th-oil-licensing-round/

"27th June 2011 in Iraq Oil & Gas News

Petrel Resources has announced its preliminary results for the year ended 31st December 2010:

Highlights:

The Subba and Luhais oil field development contract in Iraq is virtually completed.
Petrel has received all US$7 million due from the sale of the Company's shareholding in Subba and Luhais. Petrel maintains a 10% profit interest."

So $7m and a 10% interest all disappeared pretty sharpish

dusseldorf
22/2/2024
12:11
Even if there is no immediate deal involving PET, the fact that there is movement forward in the whole country makes this a worthwhile gamble , especially with PET'S tiny market cap, any crumbs would represent a Hugh dinner Charting a Course for RecoveryAs Iraq positions itself at the crossroads of recovery and development, the unfolding story of its hydrocarbon sector is more than an economic venture; it's a beacon of hope for a nation striving to turn the page on years of conflict
goggin
22/2/2024
10:33
With 8 exploratory

and 8 producing wells in the 5th round,


and an additional 11 oil

and 3 gas wells in the 6th,

flyhi
22/2/2024
09:37
Would seem things are certainly moving quickly behind the scenes.
Lots of press speculation.
International partners are being enticed.

Lets finally see how strong PET's much lauded Iraqi relationships are!

ianio5691
22/2/2024
09:31
February 22, 2024

Iraq to invite bids for new oil sites in April

They are part of 5th and 6th licensing round

OPEC producer Iraq intends to invite bids for new oil and gas concession areas in April within a post-war drive to develop its hydrocarbon resources.

The Oil Ministry has started selling documents outlining concession details within its 6th licensing round and the remaining sites in the 5th round that was unveiled in 2023, said Mohammed Al-Saadi, assistant director of the Licensing Section at the Ministry.

In comments published by the Iraqi Al-Forat news agency on Thursday, Saadi said oil major Shell and Italy’s ENI are among global firms which have bought documents.

“The remaining part of the 5th licensing round as well as the 6th round will be launched at the end of April,” Saadi said.

He said the 5th licensing round comprises 8 exploratory wells and 8 producing wells while the 6th round includes 11 promising oil wells and 3 gas wells.

ianio5691
22/2/2024
09:27
Momen Zellmi
22 Feb 2024 02:31 EST

Iraq's Bold Move: New Oil and Gas Bids Signal Economic Revival.

Iraq is set to open bids for new oil and gas concession areas, signaling a hopeful horizon for the nation's economy. Explore the global interest, local growth initiatives, and the promise of sustainable economic revival in Iraq's hydrocarbon sector.


As the first rays of dawn touch the ancient lands of Mesopotamia, a new chapter is unfolding in Iraq's storied history. This time, it's not about conflict or conquest but about harnessing the wealth beneath its sands and soil. In a strategic push to revive its economy and rebuild from decades of turmoil, Iraq is set to open bids for new oil and gas concession areas in April. This initiative, part of the country's broader ambitions to develop its hydrocarbon resources, signals a hopeful horizon for a nation eager to reclaim its position on the global stage.


A New Era of Hydrocarbon Development
Under the guidance of the Oil Ministry, Iraq is embarking on what is known as the 6th licensing round, complemented by the remaining opportunities from the 5th round announced earlier in 2023. Mohammed Al-Saadi, the assistant director of the Licensing Section, shared that heavyweight contenders like Shell and Italy's ENI have already stepped into the ring, purchasing documents that detail the concession opportunities. With 8 exploratory and 8 producing wells in the 5th round, and an additional 11 oil and 3 gas wells in the 6th, Iraq is laying the groundwork for a significant expansion of its oil and gas production capabilities.

Global Giants and Local Growth
The allure of Iraq's hydrocarbon potential has not only drawn in major global firms but also promises to catalyze local economic development. The engagements with international giants such as Lukoil, as discussed by the Iraqi Prime Minister with a Russian delegation, underscore the global interest in Iraq's energy sector. Furthermore, the transition of the West Qurna 1 oilfield's operations from ExxonMobil to PetroChina, aiming to boost production significantly by the end of 2024, illustrates the dynamic shifts occurring within Iraq's oil landscape.

Yet, the narrative extends beyond oil and gas. Companies like Crescent Petroleum have embarked on ambitious projects to meet Iraq's soaring energy needs, addressing both oil and gas development and the critical electricity deficit. With plans to inject substantial investment into the early phases of new fields in Diyala and Basra, the initiative demonstrates a comprehensive approach to Iraq's energy challenges, leveraging the second highest proven oil reserves in the region for sustainable economic growth.

Charting a Course for Recovery
As Iraq positions itself at the crossroads of recovery and development, the unfolding story of its hydrocarbon sector is more than an economic venture; it's a beacon of hope for a nation striving to turn the page on years of conflict. The upcoming bidding rounds represent not just an opportunity for global energy firms but a pivotal moment for Iraq to harness its natural wealth for the prosperity of its people. With a careful balance of international collaboration and domestic advancement, Iraq is steering towards a future where its natural resources are the bedrock of its revival.

At the heart of this endeavor is a commitment to not only boost production but to ensure that the benefits of such development are felt across Iraqi society. In a landscape marked by historical upheavals, the quest for energy independence and economic stability is a testament to Iraq's resilience and determination to forge a path of sustainable growth. As the country embarks on this ambitious journey, the global community watches, hopeful for a future where Iraq can fully realize its potential, both below ground and above.

ianio5691
20/2/2024
08:43
correction it was fayad that embezzled the financials.

Lebanon banks went into lockdown Fayad/tamraz went into

exile "France ! London listing will give netoil a bankroll.

tamraz has the connections !

dreamtwister
19/2/2024
20:10
Could be a day here tomorrow? plenty of speculation, lets hope its justified. Looks good to me ?
ein4
19/2/2024
17:05
PROFIT SHARING AGREEMENTS [PSAs]
apotheki
19/2/2024
16:00
!!! Profit Sharing Contracts !!!
flyhi
Chat Pages: 1499  1498  1497  1496  1495  1494  1493  1492  1491  1490  1489  1488  Older

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