Share Name Share Symbol Market Type Share ISIN Share Description
Petrel Resources Plc LSE:PET London Ordinary Share IE0001340177 ORD EUR0.0125
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 3.10 160,168 08:00:00
Bid Price Offer Price High Price Low Price Open Price
3.00 3.20 3.10 3.10 3.10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -1.66 -1.27 5
Last Trade Time Trade Type Trade Size Trade Price Currency
10:51:00 O 150,000 3.002 GBX

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Date Time Title Posts
22/1/202118:24PETREL resources14,047
21/1/202111:21Petrel Resources finally set to deliver?18,549
12/6/202012:16Petrol Resources all hype and bull shit just like Bula and the Albert scam50
19/5/202013:10Petrel Resources Charts, News and Press Articles500
18/5/202006:56Put this sick pet down now96

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Petrel Resources (PET) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-01-22 10:51:013.00150,0004,503.00O
2021-01-22 10:47:433.0010,168305.24O
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Petrel Resources (PET) Top Chat Posts

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 3.10p.
Petrel Resources Plc has a 4 week average price of 2.65p and a 12 week average price of 2.65p.
The 1 year high share price is 17.50p while the 1 year low share price is currently 2.65p.
There are currently 157,038,467 shares in issue and the average daily traded volume is 215,491 shares. The market capitalisation of Petrel Resources Plc is £4,868,192.48.
bronislav: This is becoming interesting now.The Concert Party are not restricted in any way from trading their shares.I doubt that the CP taking a stake was about making a quick buck on their shares and the pet board must have been satisfied with the proposals that were put in front of them and correct due dilligence undertaken.Something other than the share sale debacle must have held this up and we will likely never know.So where do we go from here ?volume has increased and if the Eurobic bank is somehow linked it appears that domino has almost been played.I still think the CP are not particularly interested in Ghana and purely for Iraq.Test short term will be the volume and share price
fenners66: Netoil says Tamraz has been elected non-exec to Ross Group PLC which has a "premium" listing.... Ross Group finally got around to an RNS but companies house not added it yet... So I wonder why has RT become a director of a "premium" listed co.? Netoil's last post about PET was to say that PET was their best performing share of 2019. Funny how they have not posted it lost 83 % in 2020. Instead they big up Ross Group - (who's share price is on its knees and has a worse ! balance sheet than PET! ). Looks like RT has moved on.....
kdickson: FWIW, here's my take on things at the moment, based on what I know plus joining a few dots ;) We are waiting for the Tamraz Group to complete negotiations with remaining minor EuroBic shareholders to sign over their shares so that the TG will own more than 50% to allow them to take control of the bank. They currently have 47.5% signed up so just a few more percent to go. I don't think there will be any delays in getting the official seal of approval from the ECB and Bank of Portugal since they are keen to get rid of the current shareholders, especially shamed Isabel dos Santos who put her 42.5% holding up for sale following criminal investigations (the 'Luanda Leaks' case). I don't know how Tamraz is going to fund this, but I have my theories. The TG have stated that this bank deal needs to be finalized before sorting out Petrel. I don't know if this is a dependency (it sounds like it). They may be totally unrelated deals by the TG group. However, it could all be part of a grander strategy as Tamraz was quoted recently as wanting to build an "international business platform" across different geographical locations. So, my understanding is that they will then finalize Petrel and take control (I don't know how exactly) and so allowing them to start bringing in the long promised assets. I'm led to believe 'taking control' could happen relatively quickly after the bank deal is finalized (like weeks). Their objective is to turn Petrel into at least a $1 billion market cap company within 2 years and they are "positive" and "optimistic" for Petrel's future. Ignore the current share price doldrums. Once huge assets start to be brought into Petrel, the share price will start to rocket - that's what we are waiting for - well l am! :)
the diddymen: From The Sage on the deluded thread: I'm going to attempt to join up the dots with the help of some well respected long term shareholders. From KD, we hear that the Tamraz group met with the Iraqi delegation in Paris on the week commencing 19th October. From Bronislav, we learn that the meeting wouldn't have taken place unless any disputes were resolved. From KD, we know that Pet applied to have the injunction lifted on 7th October. Michel has mentioned to me and others that they hope to take over Pet soon. From Palace Pete we hear that "our group will do something for Pet when we takeover" So now we come to the unusual share activity. If board members or large holders are transferring shares to the CP and they bought their shares at 1p, they will still make a profit, and their remaining shares could well go to £1 or more when deals are announced and CP assets are transferred. I'm sure that KD'S analytical skills would do a better job of analysing what we know so far. Thoughts anyone?.......... First thought is that if Michel is interested in acquiring the company why would he be adding froth to the price by telling everyone that he is a buyer. The general rule is buy low sell high (unless you are a PET believer when it is buy high sell low). Just a second thought. If they acquire PET what are they buying? Expertise - No, none. New assets - no, none. Market share - no, none. When you analyse it they are buying an off the peg company that is a cashless shell, but it is listed (oh and it has some capitalised Directors' salaries on the balance sheet)
kdickson: Also, my understanding from what Tamraz stated at the EGM, is that the time has come for him to "go public" with his privately held assets and bring such "huge assets" into Petrel. He explained that they needed a vehicle to do this and Petrel fitted the bill. The main purpose is so they can more easily monetize their privately held assets via increase in share price of a public company. Much more liquidity that way. For example, if they had a valuable painting, it wouldn't be straightforward to find a buyer in order to release the profit on it. But, if that painting was owned as an asset within a public company then the share price would have increased because of that new asset. Selling shares to realise profit is much easier (press of a button basically).
bronislav: The discontinuance of the injunction brought about by petrel resources was according to Kd,s post put in place on the 7th Oct.Up to this point it has not been RNS,d and it makes one wonder why..As I posted yesterday I believe some of the trades have been transfers of shares from one entity to another.I have no theories behind why there would be a transfer of shares if in fact it is happening.On a positive note the discontinuance is clear evidence that the board of Petrel and The CP have come to some agreement to resolve the previous issues around the CP share sale.Hopefully we shall now start to see why the CP are interested in Petrel resources and the picture becomes clearer and the share price responds in a positive fashion.GLA.
ducky fuzz: Petrel Resources PLC Enforcement of Share Lock-In 24/01/2020 4:47pm UK Regulatory (RNS & others) Petrel Resources (LSE:PET) Historical Stock Chart From Nov 2019 to Nov 2020 Click Here for more Petrel Resources Charts. TIDMPET RNS Number : 9195A Petrel Resources PLC 24 January 2020 24(th) January, 2020 Petrel Resources plc ("Petrel" or "the Company") Enforcement of Share Lock-In Further to the RNS of 17(th) January, on Petrel Resources plc's successful ex parte application for an interim injunction, the directors of Petrel Resources plc wish to update shareholders on substantial further progress: Today 24(th) January, Petrel Resources plc made a successful application to the High Court in Dublin for a broader interlocutory injunction. This injunction now blocks all trading in the Locked-in-shares pending a full hearing and/or a full resolution to the satisfaction of the board. Neither Chase Nominees (which were represented), nor Michel Fayad, and Said Mehraik (who both attended court) contested the application. Other relevant parties have been notified of the injunction, and its effects. The Company's lawyers have reminded the "Tamraz group" of their obligations pursuant to directors' duties, the FCA reporting requirements, as well as the Lock-in and general share notification requirements. The board of Petrel continues to pursue full disclosure of the surrounding circumstances concerning the sale of the shares, and will review all outstanding issues in the best interests of shareholders, and make a further announcement as soon as this information is available. Accordingly, Michel Fayad (while remaining a director) has now agreed to step aside from his director's duties for the time being, pending satisfactory resolution of all outstanding issues to the satisfaction of the board.
fenners66: So in the week before the anniversary of the 1 year "lock in " La La Land allegedly finds a notice of discontinuance presumably for the injunction. But it was dated 7th October. If there had been any resolution with the CP - this surely would have merited an RNS any time since then? But no RNS. Might it just be the BOD have decided that trying to extend the lock-in beyond the 12 months is futile and are merely confirming it ? Share price rises today. How fortunate that share price rises if immediately prior to a lock-in ending ....
fenners66: "In any case, if they want out, and are legally able to sell, I don't think they could sell, who would buy, there is no volume, and price would quickly hit the 1.25p... imho" They bought for 1.25c so even 1.25p would be a handsome profit. But selling in tranches one would not expect the share price to hit rock bottom instantly. Let alone the implications of all those shares already sold. After all they La La Land thread would tell us that if they sold it would be a good thing it would add to liquidity, bring the share price down to a bargain level etc. and I'm sure that they could start another rumour if they wanted to ......
fenners66: Gamblers of La La Land thread :- "BigBudda 29 Oct '20 - 09:24 - 17836 of 17839 The aim market Share Prices move on Rumour alone for example if the New Oil Law gets passed its probable Sp will move North if DH flies to Iraq or Ghana share price will go up but if we finally get a contract will be a 20 30 bagger you know this if you look at the financials of the whole aim market they are all sad running in debt losses it is what it is have to be in it to win or loose it GLA . BigBudda 29 Oct '20 - 09:31 - 17837 of 17839 There is value as a takeover shell company because new owners have 40 million of losses they can off set" So BB gambles on PET because he hopes the share price will move on a rumour or because its reported someone gets on a plane.... No fundamentals required - no business , no profits , no sales , just a rumour - that someone has to start. What is the distinction as a strategy from buying Tulips in the 17th Century or getting involved with a ponzi scheme hoping you are in early enough? But gambling is regulated - you can go to a casino or bet on horses etc... This hoping for a rumour is not regulated... As for the second post about a shell company with £40m losses ! It just goes to show that BB has absolutely no idea about the finances of PET. NONE The quoted 162 Group companies together have around £40m of losses. This perfectly illustrates that the accounts, sales , losses, business etc have no meaning for BB whatsoever - meanwhile £m's are being made INVESTING in real companies not hoping someone starts a rumour. How can anyone recommend this to another as an "investment" ?
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