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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 | 0.00% | 1.05 | 0.00 | 08:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 1.00 | 1.10 | 1.05 | 1.05 | 1.05 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil And Gas Field Expl Svcs | EUR | EUR -491k | EUR -0.0024 | -4.38 | 2.18M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 1.05 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 06/3/2025 | 07:00 | UK RNS | Petrel Resources PLC Placing to Raise £250,000 |
| 19/9/2024 | 07:00 | UK RNS | Petrel Resources PLC Unaudited Interim Statement |
| 25/7/2024 | 13:28 | UK RNS | Petrel Resources PLC Result of Annual General Meeting |
| 24/6/2024 | 10:45 | UK RNS | Petrel Resources PLC Posting of Annual Report and Notice of AGM |
| 20/6/2024 | 17:25 | ALNC |  Petrel Resources shares plummet as loss widens in 2023 |
| 20/6/2024 | 07:00 | UK RNS | Petrel Resources PLC Preliminary Results for the Year Ended 31 Dec 2023 |
Petrel Resources (PET) Share Charts1 Year Petrel Resources Chart |
|
1 Month Petrel Resources Chart |
Intraday Petrel Resources Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 22/4/2025 | 15:55 | PETREL resources | 15,566 |
| 24/3/2025 | 15:50 | Petrel Resources finally set to deliver? | 22,946 |
| 19/9/2024 | 11:24 | A Multi Billion Pound Company in the making..2024 a New Start | 22 |
| 08/4/2023 | 15:03 | Petrel Resources Charts, News and Press Articles | 513 |
| 05/8/2021 | 10:56 | PETREL AND SHELL | 137 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 11/4/2025 13:07 by felix0007 Curry last April/May was due to the announcement of the LR5 and 6 licensing rounds. All very exciting except that Pet didn't bid on any which is an interesting approach to trying to win contracts!! |
Posted at 06/3/2025 11:45 by the diddymen Felix the MMs are trying to hold the line on the price. If they are known buys then the selling price will be below the price paid ie the price is overstated. My guess is that the MMs will have presold as much of the placing as possible - hence all the new BB chatter by the normal ramping scum over the last few weeks - and now they are holding the price to off load the unpresold balance of shares, generally onto existing shareholders who want to average down. Once they have dumped the stock they will let the price go. It works time and time and time again. Over twenty years now. |
Posted at 05/3/2025 10:16 by kdickson I agree mcguines that PET, after 20 years, don't appear to have any right to keep mentioning their association with Block 6. However, it's better to keep claiming their interest if just as a 'reminder' to the IOM that PET are still around/available.Plus, PET did an incredible amount of research and prep work on B6, to the point of them stating they were "drill ready". And had identified 4 huge structures. We simply don't know if, or how much, PET have been in contact with IOM officials. I remain positive (as ever). :) |
Posted at 05/3/2025 08:56 by mcguines Remember when the previous incarnation of this document stated that Petrel had 100% ownership of Block 6? Everybody was so excited coming up to the last round and then suddenly "our" Block 6 was awarded to another company. Page 1 states clearly that this document confirms absolutely nothing.Iraq gov pays PET to do a survey, PET does not share survey with employer and they can now use this to form a consortium with a Chinese oil major. FFS! SP moves on trades... No trades because no news!!! |
Posted at 24/2/2025 15:17 by monis if the right news arrives at 7am one morning the share price could quite easily open at a multiple of today's price imo. |
Posted at 30/12/2024 15:29 by kdickson Pauly, I'm inclined to agree with you about renaming this thread to the 'PET Lunatic asylum'! ;)However, most of my recent posts are referring to very recents articles, news, snippets, etc, mostly in the last 4 months. And we need to remind ourselves that now Petrel has a totally new focus on helium/hydrogen in Central Asia with EU funding readily available, we are effectively like a new company starting from scratch. The old Iraq focused strategy is dead (for now). Keep positive - the rare email responses that I've seen from DH suggest a positive outcome is on the cards (re helium). |
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 08:48 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 07:40 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 12:38 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. |
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