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| 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 | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.20 | 17.39% | 1.35 | 1,433,776 | 16:23:29 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 1.30 | 1.40 | 1.60 | 1.15 | 1.15 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil And Gas Field Expl Svcs | EUR | EUR -491k | EUR -0.0027 | -5.00 | 2.11M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:23:21 | O | 189,545 | 1.34 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 19/9/2024 | 06:00 | UK RNS | Petrel Resources PLC Unaudited Interim Statement |
| 25/7/2024 | 12:28 | UK RNS | Petrel Resources PLC Result of Annual General Meeting |
| 24/6/2024 | 09:45 | UK RNS | Petrel Resources PLC Posting of Annual Report and Notice of AGM |
| 20/6/2024 | 16:25 | ALNC |  Petrel Resources shares plummet as loss widens in 2023 |
| 20/6/2024 | 06:00 | UK RNS | Petrel Resources PLC Preliminary Results for the Year Ended 31 Dec 2023 |
| 05/1/2024 | 10:24 | UKREG | Petrel Resources PLC Exercise of Warrants |
| 03/1/2024 | 10:37 | UKREG | Petrel Resources PLC Exercise of Warrants |
| 21/12/2023 | 15:18 | UKREG | Petrel Resources PLC Exercise of Warrants |
Petrel Resources (PET) Share Charts1 Year Petrel Resources Chart |
|
1 Month Petrel Resources Chart |
Intraday Petrel Resources Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 13/12/2024 | 17:09 | Petrel Resources finally set to deliver? | 22,755 |
| 13/12/2024 | 14:20 | PETREL resources | 15,521 |
| 19/9/2024 | 10:24 | A Multi Billion Pound Company in the making..2024 a New Start | 22 |
| 08/4/2023 | 14:03 | Petrel Resources Charts, News and Press Articles | 513 |
| 05/8/2021 | 09:56 | PETREL AND SHELL | 137 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-12-13 16:23:22 | 1.34 | 189,545 | 2,539.90 | O |
| 2024-12-13 16:20:00 | 1.35 | 131,610 | 1,770.15 | O |
| 2024-12-13 15:57:24 | 1.54 | 10,372 | 159.73 | O |
| 2024-12-13 14:36:33 | 1.60 | 5,000 | 79.85 | O |
| 2024-12-13 14:03:28 | 1.40 | 150,000 | 2,100.00 | O |
| Top Posts |
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Posted at 13/12/2024 08:20 by Petrel Resources Daily Update 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 1.15p.Petrel Resources currently has 183,871,800 shares in issue. The market capitalisation of Petrel Resources is £2,482,269. Petrel Resources has a price to earnings ratio (PE ratio) of -5.00. This morning PET shares opened at 1.15p |
Posted at 27/11/2024 17:03 by kdickson 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:&n Simon FlowersChairman and Chief Analyst, Wood Mackenzie Richard HoodSenior Research Manager, Subsurface, Woo • 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&rsqu Green hydrogen’s&nbs 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 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-m https://www.weforum. |
Posted at 12/11/2024 07:33 by bigbudda If and its a big if PET get a whiff of EU Funding in December for a Helium project the share price will go up many Multiples from here thats the nature of the beast and Aim Market then it will go back down again what goes Up comes back down |
Posted at 08/11/2024 13:11 by bountyfull This ramping is not good for the share price because it just draws in traders. Most of whom unfortunately end up losing money. They have no intention on holding so the share price just flaps about in the wind. |
Posted at 19/9/2024 07:48 by fenners66 share price up on sweet fa sales , concerted effort to move the share price so as to lure in some more of the gullible.Clearly another fund raise is on the way , rinse and repeat. |
Posted at 19/9/2024 06:40 by apotheki Unaudited Interim Statement for the six months ended 30 June 2024Petrel Resources plc (AIM: PET) today announces unaudited financial results for the six months ended 30th June 2024. Chairman's Statement Petrel is a junior hydrocarbon explorer with interests in Iraq and Ghana. There are now many oil & gas projects available, with promising geology and manageable logistics. Demand for oil & oil products, as well as LNG, now surpasses preCovid-19 levels. Despite recent softening, prices are reasonable, and the supply-demand balance steadily tightens as majors withdraw from non-core basins, focusing on existing projects - often using cash to pay dividends and buy shares back, rather than make long-term investments. However, the fiscal terms available from most states reflect those which became normal during times of better market conditions (2004 - 2014), but are sub-optimal for explorers. Many producing countries, including Iraq, are now talking about improved fiscal terms, but these have not yet been implemented. As a result, most successful bidders in international bid-rounds tend to be State Oil Companies, or in some cases majors with excess cash - often bidding uneconomic fiscal terms. Neither the stock market nor farm-out market have been supportive of juniors or new frontier projects since 2014. Given the improving supply-demand balance, and the clear need for major new discoveries as existing fields deplete, what explains the negative stance taken in the stock market? The reason is that official policy (especially in Europe) has been to support a 'Green Transition', and to avoid permitting new projects that might became stranded assets - or lock economies into fossil fuels. To some extent, this hard line is being reversed with worries over security of supply following the Ukraine war from 2022 to date. The EU's 'Global Gateway' (initially conceived to boost development, especially in Africa - as a response to China's 'Belt and Road' initiative) has now morphed into a means to secure supplies of 34 critical minerals, of which 17 are 'strategic'. The USA passed its 'Inflation Reduction Act' in 2022, followed by the EU's Critical Resource Minerals Act in 2024. The directors have been working closely with the EU Commission's Critical Resource Minerals initiative since 2023. The opportunity is infinite, due to the paucity of EU companies experienced in exploration and development especially in developing countries, which require special skills that are not easily developed. Infrastructural investment may be funded up to 50% of total through EU, or Member States' lending bodies at circa 3.3% interest over 20 years. For qualifying 'Green Projects' up to 80% is possible. Typically, for new projects in new areas capex comprises 67% infrastructure, with plant, etc. making up the 33% balance. Petrel Resources plc, which is an Irish and EU company, has been encouraged to apply its skills and contacts to help resolving the EU's critical need to reduce dependency on Chinese-controlled mining and processing of strategic raw materials. Given current market conditions, this makes sense for shareholders and the EU. Accordingly, our team has invested time and effort, over recent months, in researching qualifying projects that fit within the EU's criteria. Currently, the most advanced opportunities identified comprise adequate sources of Helium, which is increasingly critical to high-tech and aerospace industries. Though our petroleum contacts, we are aware of bypassed discoveries, in the Former Soviet Union (FSU) and elsewhere, that show large volume, high confidence reserves ideally suited to fulfil EU needs. Historically, most major Helium (and indeed natural Hydrogen) discoveries have been made - largely by accident - via oil & gas exploration. For reasons of prevailing economics and demand at the time, most of these discoveries have yet to be developed. In light of current sanctions, it is impractical to develop such Helium (or Cobalt or Lithium) deposits in Russia or Iran. However, jurisdictions such as Kazakhstan are considered pro-western, and the EU has recently signed a Strategic Cooperation Agreement with the Kazakh government, so this is now an EU priority. The required gas exploration and production skills are closely related to those familiar to our team from the petroleum industry. There seems to be excellent potential opportunities for Petrel in such assets, subject to securing necessary funding. Initial review work gives our experts confidence in the reserve and resource numbers. Potential offtake agreements - both for the EU, as well as China and India are economic at current prices. Title is an issue in the FSU, though many projects have proved solid and delivered good returns where the operator is well-partnered and pays attention to local community relations. These are Petrel's strengths. Based on initial discussions, we do not see offtake, financing, and permitting as insurmountable obstacles in such critical resources. The EU has funding and needs critical resource minerals. We believe that we have the contacts, skills and experience to deliver them. Accordingly, it makes sense for Petrel to pivot, at least partially, away from a pure petroleum focus in developing countries, and towards critical resources for which EU support is available. Financing The directors and their supporters funded working capital needs, and are prepared to participate in any necessary, future fundings. The board expects to add another one or more Non-Executive Director with the next major deal. David Horgan Chairman |
Posted at 21/5/2024 11:38 by kdickson Anz (Block 6) developmentHere 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. |
Posted at 14/5/2024 13:16 by kdickson Call me deluded but I think there's still room for hope. Here's my thoughts.We now know that 16 contact areas received no bids (incl Anz/Block 6). That's over half of all licences still up for grabs that the IOM are going to have to negotiate directly with individual companies, as effectively stated by the Oil Minister yesterday: He added that the 16 exploratory patch fields will be offered after being re-evaluated [KD: i.e. negotiated to make fiscal terms more attractive!] in accordance with the standards and indicators approved by the Ministry. The Ministry is seeking to offer more exploratory and oil fields and patches during the coming period. Several posters have come to the same conclusion as me about funding. I suspect that the standard contacts offered in the bid rounds were never fundable on the London markets (poor financial returns) and that's why it didn't make any sense for Petrel to bid. Knowing this was the case (probably for a long time), I reckon that DH knew many IOC's would also not bid and he has been running a 'parallel plan' to enact once the bidding rounds finished. I believe Petrel has been liaising with the Iraqi authorities for some time now, hence the Sept 2023 chairman's comment: "Petrel has fine-tuned its Iraqi proposals, following feedback". This sounds like a positive interaction involving direct negotiations to me, and I'm sure any proposed developments by Petrel would be on terms that are fundable in London. This ties in with recent chat on here about PET only "submitting proposals" and not bids. I also believe it must refer to Block 6 (Anz) because DH would already know they weren't bidding for Merjan when Block 6 is the big prize. What about Itochu sugar-daddy funding? DH said in a Sept 2023 email that "Itochu say they want ‘equity-barrel How long might negotiations take? As above, the Oil Minister said they are "seeking to offer more exploratory and oil fields and patches during the coming period". That phrase doesn't sound like a long period to me. The Oil Ministry has already shown they can negotiate fiscal terms very quickly, almost real time given the article below: ZPEC took the Middle Euphrates fields in central Iraq, offering 11.67 per cent share of net profit, which was higher than the 9.35 per cent share the Oil Ministry was willing to pay. Afterward, the company accepted the 9.35 per cent share offered by the ministry. What about risks of a Middle East war? I asked DH this a few weeks ago just after Iran fired missiles/drones at Israel. DH: "It means that the fiscal terms should be improved to reward investors for enhanced risk". Again this ties in with a direct negotiations strategy. Finally, remember that on Petrel's website, in relation to Block 6, it states: Petrel have analysed all available data and are ready to drill. “We have identified very large structures on the block...including one with potential for 500 million barrels recoverable...two are structural and one stratigraphic". |
Posted at 13/5/2024 06:32 by apotheki 18 September 2023Petrel Resources plc ("Petrel" or "the Company") Unaudited Interim Statement for the six months ended 30 June 2023 Petrel Resources plc (AIM: PET) today announces unaudited financial results for the six months ended 30th June 2023. Petrel is a hydrocarbon explorer with interests in Iraq, and Ghana. Highlights • Petrel has fine-tuned its Iraqi proposals, following feedback. We have contractors and suppliers identified but seek improved fiscal terms to attract partners. • An updated Merjan oil field development proposal has been submitted to the Ministry with a view to finalising a licence agreement. • Iraqi oil output fell to 4.2 million barrels daily in July 2023, in line with OPEC+ output cut agreements. Iraqi potential is substantially higher, while infrastructural issues are being addressed. • However, despite strong energy prices, and recovered demand, oil & gas explorers' shares remain out-of-favour in the London market - though there is Australian interest. • Fiscal terms in the Middle East still reflect historical conditions rather than current market realities. Politicians are slow to agree contractual terms that maximise value for all parties. • Ratification discussions on Tano 2A block with Ghanaian authorities continue - though the authorities have sought to chip away at the acreage and fiscal terms previously agreed. A new realism seems evident. Chairman's Statement Europe is de-industrialising, due to policies generally hostile to reliable fuels, but global oil & gas demand continues to recover, as Asia recovers from lock-downs. The withdrawal of most majors from non-core basins undermined the farm-out market after 2014. Majors who had entered OPEC country projects, often on uneconomic terms, now exit marginal or non-core projects as they buy shares back and issue record dividends instead of exploring. Institutional reluctance to invest in exploration for reliable fuels continues. Available funds are from private clients and traders demanding discounts. We prefer to avoid incurring work commitments requiring dilution at current prices. We prefer to prepare early-stage projects to farm down when markets turn. The world is changing: BRICS+ now have a larger GDP than the G-7. Europe is declining, but Asia is not. The future is in the Global South (Brazil, India, Indonesia and China, which, along with Nigeria and Mexico). Australian brokers and investors have profited through the liquidity of Petrel's sister company, Clontarf Energy plc. They press Petrel Resources plc to accept Australian and Asian participation. So far, we have avoided dilution, [but as we roll out high-potential new projects, and the share price hopefully rises, it may be attractive to accept funding]. Petrel has assessed various expansion projects, which failed due diligence or did not deliver funding on satisfactory terms. These included oil and gas, as well as in new, dynamic sectors. Proposals are many but cash at market rates is sometimes lacking. Petrel offers a 23-year AIM record, with potential liquidity and capital appreciation for robust opportunities. As investors re-focus on 'hard industries' and cash flow, we veery much consider this is a time of opportunity. Financing The directors and their supporters funded working capital needs, and are prepared to participate in any necessary, future fundings. The board expects to add another one or more Non-Executive Director with the next major deal. David Horgan Chairman |
Posted at 12/5/2024 15:32 by steveberyl Contradictory? Maybe Chinese have done a deal with Pet to ensure Chinese deal was in fact the only one. A Pet Bid may well have been submitted for Merjan and Pet made a proposal to Chinese that Pet would Withdraw if Pet was given a minor JV role in order that Chinese did not feel `Isolated`Any JV will not be highlighted by Iraq, that info will only come Next week sometime, if in fact a JV was cobbled together. Lets face it, a JV would suit PET for multiple reasons and holders as well. We can only wait. Either way, I would bet a lot of Money that Pet will not leave Iraq Empty handed. I forgot, I already have Bet a lot of Money on Pet. |
Posted at 12/5/2024 13:44 by f31 I still don’t understand any of it about Merjan, I’m still flabbergasted.If someone would have suggested a week ago that Petrel had not put in a bid for Merjan, I would have taken that as utter nonsense and completely unthinkable. I mean, come on - it’s Merjan we are talking about !!! At the AGM David clearly said they had put in a proposal AND that we were the only one. Using the words “we are the only one” (“as per May 2023”, I believe he added) suggests that he was referring to this 5+ bidding round ? He then even refers to Petrel’s “fine-tuned&rd Jimduggen’s link….. This report clearly states that the deadline for submitting applications and bids for the 5+ round was on 15th June 2023. In other words, David’s statement of…. “we have submitted a proposal”&hell So, for all kind of reasons, including e.g. our historical studies on Merjan within a TCA with Iraq, but especially also because of the above mentioning of their Merjan proposal submission both in the AGM and in the Interims on 18th September, shareholders were fully justified to conclude (if not being convinced ! ) that Petrel had put in a bid for Merjan. And not only shareholders, but also the Market in general, hence the strongly increased recent trading, coupled with price increase. Some significant trading took therefore place on justified assumptions of Petrel’s participation in the bid round. So it seems unavoidable to me that Petrel HAS to come out with some clarification statement on Monday or anyway immediately after the bid rounds have completed i.e. next week ?? For the same reasons as above, we can also not be sure that a bid has been put in for Block 6 (even when the Interim referred to submitted proposalSSS), but hopefully some positive news can still be included in such statement, be it either via some form of consortium participation on Block 6, or perhaps with a back-up plan already in place via a pre-agreed RTO |
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