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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
  0.00 0.0% 2.35 83,812 08:00:00
Bid Price Offer Price High Price Low Price Open Price
2.20 2.50 2.35 2.35 2.35
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -0.40 -0.26 4
Last Trade Time Trade Type Trade Size Trade Price Currency
13:35:17 O 80,000 2.2009 GBX

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Date Time Title Posts
01/7/202214:49Petrel Resources finally set to deliver?20,565
29/6/202218:07PETREL resources14,922
05/8/202110:56PETREL AND SHELL137
04/8/202117:14simon selfless8
12/6/202013:16Petrol Resources all hype and bull shit just like Bula and the Albert scam50

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DateSubject
02/7/2022
09:20
Petrel Resources Daily Update: Petrel Resources Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker PET. The last closing price for Petrel Resources was 2.35p.
Petrel Resources Plc has a 4 week average price of 2.10p and a 12 week average price of 1.45p.
The 1 year high share price is 4.95p while the 1 year low share price is currently 1.38p.
There are currently 157,038,467 shares in issue and the average daily traded volume is 66,650 shares. The market capitalisation of Petrel Resources Plc is £3,690,403.97.
20/5/2022
12:58
kdickson: As an example of the potential rewards, here's a reworked valuation that I did for Merjan a couple of years ago but now based on latest much higher oil prices. Not saying it would get to that high price immediately, and there would probably be share splits along the way... Merjan share price The value to Petrel if we 'only' got awarded Merjan-Kifl-West Kifl and it was developed into a 100,000 bopd producer, then that alone would be company changing. At 100,000 bopd, and assuming we got a 10% profit share, then with a conservative forecasted 2023 oil price of £70pb ($87) that would be an annual profit of £255 million per year (100,000 x 365 days x £70pb x 10% share to PET). That would support a share price of over £16 per share. (£255 m / 157 million = £1.63 earnings per share x PE of 10 = £16.30 ps and mcap of £2.5 BILLION).
20/5/2022
07:42
bronislav: We've been discussing iraq for the last 15 years and still nothing material has happened ,certainly nothing in the public domain.Apart from the rises related to the concert party participation there has been years of nothing from Pet.News of some progress on the future of Petrel is long overdue and in relation to the recent share purchase by Mr Teeling ,I don't see how the company could have any chance of moving forward with those disputed shares hanging over the company.In relation to clon and their late entry to the Australian drill,I would assume clon brought something to the table other than a few million quid and the only oil and gas related possible value would be Ghana of which pet have a 30% interest.That 30% could well be useful as a bargaining chip or the creation of some monetary gain for Pet on the back of some group or consortium picking this 30% up.
19/5/2022
14:00
ducky fuzz: Looking at PETrel as a curious ex holder I think it interesting that CLON got the Aussi oil play and PETrel didn't. Logically, with the directors investing big money in PETrel to buy back the Tamraz concert party shares the Directors might have wanted PETrel to get this deal. After all PETrel is the flagship and CLON the minnow. So it seems probable that PETrel will get something. With just a bit of buying I am amazed how quickly the share price moves in either direction. BWTFDIK DF
16/5/2022
10:05
kdickson: Just re-posting so it's visible today. Some light reading ;) Out of the 3 Iraqi possibilities previously linked to Petrel (Block 6, Merjan and Subba & Luhais), I’m beginning to wonder whether S&L might now be a possible reason behind the current share price strength. I base this on the following clues/research. Back in July 2020, DH did a Q&A session, and was asked specifically on any deals to do with ‘gas processing’: Then a couple of months later in JT's Chairman’s Interim statement of Sept 2020, he said the following about Iraq and repeats the same S&L details. Note that this is the first time in 12 years that S&L had ever been mentioned in detail (other than a few passing historical  references). Why suddenly start talking about it again!? Fast forward 12 months to 5th Sept 2021 when TotalEnergies signed that mega $27 billion deal with the Iraq government, involving 4 main energy projects: -  gas capture covering a 600 million cubic feet per day project at Ratawi -  the expansion of oil output at Ratawi from 85,000 barrels per day to 210,000 b/d -  1 gigawatt solar project -  5 million b/d water injection project to maintain reservoir pressure at key southern oil fields. The gas capture project involves two phases: first, output of 300 MMcf/d from Majnoon, West Qurna-2 and Ratawi; and a second phase targeting some 300 MMcf/d from the Subba, Luhais and Tuba fields. This map shows the proposed Ratawi gas processing plant. In effect it will be a massive gas hub to process flared gas from the surrounding oil fields (capturing flared gas has always been DH's 'pet' subject). Why might lowly Petrel have any chance in such a huge project? We know Petrel worked on developing S&L back in the mid 2000’s but I think we forget how massive a project that was and also how much gas processing experience Petrel really have. - in 2004 they submitted (after being asked by the IOM) a very detailed tender to develop the Khurmala Dome near Kirkuk, including a gas processing plant to process the flared gas - also in 2004 they did a similar detailed tender to develop the Hamrin field in central Iraq (both tenders passed critical evalutions by IOM experts) - in 2005 Petrel were encouraged to submit a tender for the Kormor Gas producing field (again a very detailed document was submitted) - in 2005, they were awarded the EPC contract on Subba & Luhais oil fields where they developed a state of the art gas processing plant to capture and process up to 120 million cfg/day. Focussing on the successful tender for S&L, the diagram below is from the 2004 Annual Report (lots of connecting pipelines crossing exactly where Total propose to build the Ratawi gas hub - compare to above map): And from the 2006 AR (it’s a very large site): One month after Total signed the mega deal, they were looking for contractors: Total Looking for Partners in Iraq Project Energy Intelligence Group, Fri, Oct 1, 2021 TotalEnergies is looking for foreign partners in the $10 billion energy megadeal in Iraq it signed last month and expects the "win-win" project to generate $1 billion per year in cash flow at plateau production. Could Petrel, with it’s huge experience of gas processing and very specific knowledge of the Subba and Luhais fields (exactly where Total are planning the Ratawi gas hub) possibly be a contractor/partner with Total? From Feb this year: Total Poised to Launch New Iraq Megaproject Energy Intelligence Group, Tue, Feb 8, 2022 TotalEnergies is poised to kick off a multibillion-dollar integrated energy project in Iraq after the remaining contracts are finalized in the coming weeks, sources say…. …"There are a few preconditions to be met, which are about finalizing some contracts. Things are going well, and in the coming weeks, all those contracts will probably be finalized," the source added. I could even see the possibility that Total might consider sub-contracting out the project management of parts of this Ratawi gas hub project to Petrel (or even all of it?).  That could perhaps be more cost-effective for Total to use someone with previous experience and contacts rather than use their own staff. And remember that Petrel have managed and worked with some of the biggest contractors and suppliers when developing the original S& L – companies like General Electric, Hanover, Enereco, Caterpillar, Weatherford, etc as well as the Iraq’s own state oil and gas companies (SCOP, SOP). One last clue... One last ‘clue’ that perhaps indicates that Total and Petrel are linked on this project, was JT saying in an Irish Independent article on April 15th that: ...the firm would try to resuscitate oil exploration in Iraq, but was having “difficulties” as no government has been formed after elections. This is exactly what TotalEnergies were also saying on March 2nd in an Iraq Oil Report article: ...finalizing terms could prove difficult before a new government takes shape. So maybe the catalyst for contract news will be when the new Iraqi government is finally announced? As always, the above are just my personal thoughts. I have no definitive information that S&L is on the table.
15/5/2022
20:19
kdickson: Some light reading ;) Out of the 3 Iraqi possibilities previously linked to Petrel (Block 6, Merjan and Subba & Luhais), I’m beginning to wonder whether S&L might now be a possible reason behind the current share price strength. I base this on the following clues/research. Back in July 2020, DH did a Q&A session, and was asked specifically on any deals to do with ‘gas processing’: Then a couple of months later in JT's Chairman’s Interim statement of Sept 2020, he said the following about Iraq and repeats the same S&L details. Note that this is the first time in 12 years that S&L had ever been mentioned in detail (other than a few passing historical  references). Why suddenly start talking about it again!? Fast forward 12 months to 5th Sept 2021 when TotalEnergies signed that mega $27 billion deal with the Iraq government, involving 4 main energy projects: -  gas capture covering a 600 million cubic feet per day project at Ratawi -  the expansion of oil output at Ratawi from 85,000 barrels per day to 210,000 b/d -  1 gigawatt solar project -  5 million b/d water injection project to maintain reservoir pressure at key southern oil fields. The gas capture project involves two phases: first, output of 300 MMcf/d from Majnoon, West Qurna-2 and Ratawi; and a second phase targeting some 300 MMcf/d from the Subba, Luhais and Tuba fields. This map shows the proposed Ratawi gas processing plant. In effect it will be a massive gas hub to process flared gas from the surrounding oil fields (capturing flared gas has always been DH's 'pet' subject). Why might lowly Petrel have any chance in such a huge project? We know Petrel worked on developing S&L back in the mid 2000’s but I think we forget how massive a project that was and also how much gas processing experience Petrel really have. - in 2004 they submitted (after being asked by the IOM) a very detailed tender to develop the Khurmala Dome near Kirkuk, including a gas processing plant to process the flared gas - also in 2004 they did a similar detailed tender to develop the Hamrin field in central Iraq (both tenders passed critical evalutions by IOM experts) - in 2005 Petrel were encouraged to submit a tender for the Kormor Gas producing field (again a very detailed document was submitted) - in 2005, they were awarded the EPC contract on Subba & Luhais oil fields where they developed a state of the art gas processing plant to capture and process up to 120 million cfg/day. Focussing on the successful tender for S&L, the diagram below is from the 2004 Annual Report (lots of connecting pipelines crossing exactly where Total propose to build the Ratawi gas hub - compare to above map): And from the 2006 AR (it’s a very large site): One month after Total signed the mega deal, they were looking for contractors: Total Looking for Partners in Iraq Project Energy Intelligence Group, Fri, Oct 1, 2021 TotalEnergies is looking for foreign partners in the $10 billion energy megadeal in Iraq it signed last month and expects the "win-win" project to generate $1 billion per year in cash flow at plateau production. Could Petrel, with it’s huge experience of gas processing and very specific knowledge of the Subba and Luhais fields (exactly where Total are planning the Ratawi gas hub) possibly be a contractor/partner with Total? From Feb this year: Total Poised to Launch New Iraq Megaproject Energy Intelligence Group, Tue, Feb 8, 2022 TotalEnergies is poised to kick off a multibillion-dollar integrated energy project in Iraq after the remaining contracts are finalized in the coming weeks, sources say…. …"There are a few preconditions to be met, which are about finalizing some contracts. Things are going well, and in the coming weeks, all those contracts will probably be finalized," the source added. I could even see the possibility that Total might consider sub-contracting out the project management of parts of this Ratawi gas hub project to Petrel (or even all of it?).  That could perhaps be more cost-effective for Total to use someone with previous experience and contacts rather than use their own staff. And remember that Petrel have managed and worked with some of the biggest contractors and suppliers when developing the original S& L – companies like General Electric, Hanover, Enereco, Caterpillar, Weatherford, etc as well as the Iraq’s own state oil and gas companies (SCOP, SOP). One last clue... One last ‘clue’ that perhaps indicates that Total and Petrel are linked on this project, was JT saying in an Irish Independent article on April 15th that: ...the firm would try to resuscitate oil exploration in Iraq, but was having “difficulties” as no government has been formed after elections. This is exactly what TotalEnergies were also saying on March 2nd in an Iraq Oil Report article: ...finalizing terms could prove difficult before a new government takes shape. So maybe the catalyst for contract news will be when the new Iraqi government is finally announced? As always, the above are just my personal thoughts. I have no definitive information that S&L is on the table.
06/5/2022
11:00
the chairman elect: AYE do not think that PET & CLON will perform exactly in the same way share price wise as it has to be stated that CLON have just issued a ton of new shares at just 0.25 so they will for sure suffer from a lot of the newbies taking a quick turn in the shares. Obviously @ PET the share position only recently got a lot tighter with JT & JF adding to their already extensive collection of PET shares by spending £300,000 [remember that as it is quite a lot of money to most people!]
17/4/2022
08:20
f31: IRISH INDEPENDENT Sarah Collins April 15 2022 02:30 AM Teeling eyes new projects after Petrel breakthrough ________________________________________ Irish oil and gas explorer Petrel Resources is looking to bring in new projects and investors now that it has “cleared the decks” in a row with ex-shareholders. Chairman John Teeling told the Irish Independent that the two-year dispute with a trio of investors known as the Tamraz group was “their own fault, either directly or indirectly”. Yesterday, Petrel announced that the High Court had lifted an injunction blocking the sale of 32 million shares in the firm. The shares have now been acquired by Mr Teeling and his chief financial officer (CFO), James (Jim) Finn, increasing their respective shareholdings to around 17pc and 8pc. The London-listed Petrel sought the injunction in 2020 to block what it said was the unlawful sale of some shares that had been acquired by the Tamraz group – French investors Roger Tamraz, Michel Fayad and Said Mehraik – and locked in for a period of time after the investment. Mr Teeling and his CFO paid £300,000 (€363,000) to buy the shares from the most recent owners, EYCP LLC and SRT Capital SPC, which had loaned the Tamraz group the money to buy 29pc of Petrel in 2019. Tamraz had expressed an interest at the time in increasing its shareholding to 51pc. The Tamraz group said in a letter to Petrel in 2020 that “at no point in time” had they instructed EYCP to dispose of any shares on their behalf, and understood they were being held by EYCP as a collateral for the loan. Mr Teeling said he “never found out to this day” why the share lock-in agreement was broken. “In a way, the shares have gone to a good home now. Are we going to be there until we’re 106? I don’t know. Jim and I have spent £300,000 now to buy the shares back, so we have an even bigger interest in finding somebody [to invest in] the company.” Petrel Resources, originally known as Kish when it was formed in 1982, has interests in Ireland, Iraq and Ghana. It made an operating loss of €451m in 2020 and a loss of €162m in the six months to June 2021, its most recent interim statement. Mr Teeling said the firm would try to resuscitate oil exploration in Iraq, but was having “difficulties” as no government has been formed after elections . Its interests in Ghana have not been active in recent years, and had been due to be progressed by the Tamraz group. He said Russia’s invasion of Ukraine would make oil and gas exploration in the Middle East, the Caucasus and Central Asia more lucrative. “There are only a few locations you can go to now, really. There is no doubt there will be long-term changes to the dominance of Russia in gas, in particular. Their oil is not huge but their gas is totally dominant in Europe,” he said. He described Irish energy policy as “absolute lunacy” and said the Government should have allowed more offshore exploration. “With the current prices and expected prices, and with the loss of eastern European resources, that should have been looked at,” he said. He said Petrel would consider looking again at Irish opportunities. “Of course you’d do it because those opportunities are there, and you would love to have it. You’d need a partner,” he said.
14/4/2022
09:07
ianio5691: https://www.irishtimes.com/business/energy-and-resources/petrel-announces-lifting-of-injuction-over-disputed-shares-1.4852617 Petrel announces lifting of injuction over disputed shares Executives acquired 21 millions in exploration group Eoin Burke-Kennedy Petrel Resources has announced the lifting of a High Court injunction concerning the ownership of 32 million shares in the group. The company, which has interests in offshore Ireland, Iraq and Ghana, had obtained a High Court order in 2020 blocking a trio of investors , known as the Tamraz group, from selling shares in the Irish company. The trio held Petrel shares directly and through a company, and had agreed not to sell them before a certain date under the terms of an investment deal concluded in November 2019, which would have seen Tamraz take a 51 per cent stake in the group. Petrel later claimed it found evidence that they had sold shares in breach of this agreement. The company on Thursday announced the lifting of the injunction and a seeming resolution to the dispute with Petrel chairman John Teeling and chief financial officer James Finn acquiring the 32 million shares for £300,000 (€361,000). Mr Teeling acquired 21 million shares at a price of .935p per share, bringing his ownership of the existing share capital to almost 17 per cent. Mr Finn acquired 11 million shares at a price of .935p per share, bringing his stake to just over 8 per cent .
09/2/2022
13:40
kdickson: Another thought. There's been a drip drip of sales over the last few weeks and months without the share price being punished. I wonder if these sales are being accumulated by the MM's, over a period of time, because they have a buyer in the background? Two AGM's ago John said "look for the CP buying back their shares". That is, the 5.5 million that were sold within the lock-in period and before the injunction. Petrel and their NOMAD know that one of the conditions for the injunction to be lifted is for the CP to buy back those 5.5m shares to make PET 'whole' again (and pay legal costs). So perhaps we've been seeing a slow  accumulation of shares by the MM's on behalf of the CP, so that the injunction can finally be lifted and the CP get their injuncted shares back (well, most of them). This scenario would also help PET save face in that the legal action they first took would be seen to have worked and been a 'good thing'. Of course, this would require Tamraz and John/David to be friends and be talking to one another about it. With May this year (I believe) being the deadline for agreement on financing of the Russian licences, that would give both parties extra impetus to sort out all of the above.
29/10/2021
07:50
the diddymen: The only thing protecting the PET share price now is that all shareholders have written off their investments. That is what £20m of accrued losses (shareholder capital) gets you in the Clontarf kennel. Cooley did well.
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