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
  0.50 7.69% 7.00 804,184 12:03:47
Bid Price Offer Price High Price Low Price Open Price
6.50 7.50 7.50 6.50 6.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -3.90 -3.91 10
Last Trade Time Trade Type Trade Size Trade Price Currency
14:16:17 O 20,517 7.20 GBX

Petrel Resources (PET) Latest News

More Petrel Resources News
Petrel Resources Takeover Rumours

Petrel Resources (PET) Discussions and Chat

Petrel Resources (PET) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
13:16:197.2020,5171,477.22O
13:13:196.7240,0002,688.00O
11:41:417.50503.75O
11:09:277.3553,4353,927.47O
11:06:176.7010,000670.00O
View all Petrel Resources trades in real-time

Petrel Resources (PET) Top Chat Posts

DateSubject
31/3/2020
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 6.50p.
Petrel Resources Plc has a 4 week average price of 4.25p and a 12 week average price of 3.75p.
The 1 year high share price is 26.50p while the 1 year low share price is currently 0.85p.
There are currently 149,346,159 shares in issue and the average daily traded volume is 401,093 shares. The market capitalisation of Petrel Resources Plc is £10,454,231.13.
05/3/2020
14:12
lippe: 5 Mar '20 - 10:38 - 77 of 77 The passing of the insolvency bill allows Ghana to eject Erin Energy and give Clon back what is rightfully theirs along with their partners, i.e PET. Chapter 11 will clear the way for the ratification of Clons claim and allow them to go ahead with exploration/drilling/farm in etc. Upside is simple, Clon and PET share price dramatically climb on news. Give Clon back what is rightfully theirs along with their partners … One wonders why dave never whipped out the trusty legal sabre to support this obvious rightfull injustice … #delusionalthinking
05/3/2020
10:48
1liam: Ghana government ws due to start at 10am today. Hopefully, the insolvency bill will be debated before the weekend. Passing of the insolvency bill allows Ghana to eject Erin Energy and give Clon back what is rightfully theirs along with their partners, i.e PET. Chapter 11 will clear the way for the ratification of Clons claim and allow them to go ahead with exploration/drilling/farm in etc. Upside is simple, Clon and PET share price dramatically climb on news.  IMO  DYOR
05/3/2020
10:38
1liam: The passing of the insolvency bill allows Ghana to eject Erin Energy and give Clon back what is rightfully theirs along with their partners, i.e PET. Chapter 11 will clear the way for the ratification of Clons claim and allow them to go ahead with exploration/drilling/farm in etc. Upside is simple, Clon and PET share price dramatically climb on news.
06/2/2020
16:37
whatsthepoint: And more " The way this stock now trades, it appears there may be substantial short positions in the market. If so, the PET share PRICE COULD ROCKET"hxxps://upcomingdrills.com/news/ Petrel Resources (PET) looks like it could be having middle-Eastern financing issues too, but the wily old John Teeling looks like he may have the chancers by the short and curlies, having obtained an injunction blocking all trading in the shares issued to this group. The way this stock now trades, it appears there may be substantial short positions in the market. If so, the PET share price could rocket. I highlighted Petrel as a favourite several times last year around 1p and it subsequently hit 26.5p. It went down as low as 3.85p on Monday last week and back up as high as 14.85p on Friday. What can be said with certainty here is that extreme volatility will continue.
28/1/2020
13:53
kdickson: Good idea guys to use Skiboy10's other thread to post/'store' useful/longer research notes (as well as continuing to post them on this thread of course). In the meantime, here's an article from oilman Jim.... " The way this stock now trades, it appears there may be substantial short positions in the market.  If so, the PET share PRICE COULD ROCKET" hxxps://upcomingdrills.com/news/   Petrel Resources (PET) looks like it could be having middle-Eastern financing issues too, but the wily old John Teeling looks like he may have the chancers by the short and curlies, having obtained an injunction blocking all trading in the shares issued to this group.  The way this stock now trades, it appears there may be substantial short positions in the market.  If so, the PET share price could rocket.  I highlighted Petrel as a favourite several times last year around 1p and it subsequently hit 26.5p.  It went down as low as 3.85p on Monday last week and back up as high as 14.85p on Friday.  What can be said with certainty here is that extreme volatility will continue.
09/1/2020
08:19
the diddymen: Never seen the recent PET share price spikes before; not. Dr TD
28/12/2019
18:34
lippe_mk2: From the other board... Netoil celebrating the PET share price. 2019 Winners. Based on... some throw away comments at an EGM. Congratulations. An AIM shell company with less than $1m cash on the books and no assets. MC over x50 NAV. Brilliant work. This is their top news of 2019. Tells you everything you need to know.
10/12/2019
17:57
kdickson: All gone a bit quiet here. Might be a good time to remind ourselves of the immense opportunities that were discussed at the EGM (repost of 7904).. STARTS... Here is a bullet point summary of the EGM, based on the extensive notes that moneyintransit kindly made on the day. I've condensed some duplicate/similar notes and done a bit of formatting but these are a faithful copy of what was noted by MIT. RESULTS OF EGM AND ISSUE OF NEW ORDINARY SHARES (21 November 2019) ---------------------------------------------------------------------------------------------------------------------------------- Petrel is pleased to announce that at the EGM held earlier today the ordinary resolution to approve, on a poll, the waiver under Rule 9 of the Irish Takeover Rules was passed. Accordingly 64,035,976 Ordinary Shares of 1.25 cent each ("New Shares") will be issued to the Tamraz group at the placing price of 1.25 cent each. Following the allotment of the New Shares the Tamraz group will hold 51% of the Enlarged Issued Share Capital of the Company. Application has been made for the New Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM and it is expected that this will take place on or around 27 November 2019 ("Admission"). Following the Admission of the 64,035,976 New Shares, Petrel Resources will have 213,382,135 Ordinary Shares in issue which will also represent the total number of voting rights in the Company. MAIN BULLET POINTS from EGM ----------------------------------------------------- • Around 25 shareholders were present. No press appeared to be there • The proposal was passed with 99.9% (approx. 8k votes against) • Tamraz and Fayad came over as very reliable men, and trustworthy (according to shareholders who met them face-to-face later) • None of the original Board personally knew any of the individuals from the Tamraz group • It was the Tamraz Group that approached Petrel, indicating they were interested in using the company as a Vehicle to be developed • The intention is to really grow this LISTED company and to keep this as a listed company • Absolutely no plans to take it over as a private company • They have no intention at all to take more than the 51% • Existing shareholders will fully profit from the growth • Tamraz spoke about his background (in a very modest way apparently) - largest stockholder of a Top 20 US bank, active in Middle East and Europe for the past 40 years in Natural Resources, Oil and Gas • Also gave short summary of enormous projects successfully achieved – SUMED and BTC pipelines, Tamoil with its 3000 gas-stations & associated refineries, etc) • Tamraz stated that their involvement in Natural Resource/Oil/Gas had always been private for them, until now • They decided to go public (i.e. listed) now, so they were looking for a Vehicle with a background in Oil and Gas where they could get enough shares themselves so that they could put some HUGE assets into the Vehicle (i.e. Petrel Resources), and they have now reached this point • Following this EGM, they will be working with the present management on certain assets to be in: Oil Reserves, Gas, and some Natural Resources, in a step-by-step way. REGARDING the FIRST ASSET ------------------------------------------------ • They think within 90 days they will have something to share with the Market but regulations prevented them from giving any further update today • The Assets are there - they are just waiting on formalities (lots of paperwork and some technical work) and approvals to be in place before they can present any detail to the public • Once that is in place, they will bring this first asset, worth AT LEAST £100 million into Petrel • Impression from at least one attendee was to “expect proven reserves” in relation to the asset • The process of bringing in that £100 million+ asset will involve a Proposal to the Board and will require another EGM • They have no intention for a further dilution of shares. FUTURE ASSETS and DIRECTION ----------------------------------------------------- • After this initial asset, they want to bring further SIGNIFICANT assets into the company in several phases • They want to be involved in both Upstream and Downstream • Right now they are looking at both upstream and downstream opportunities, including a PIPELINE, but don't want to present this to us until its very specific • Further persons, with significant knowledge of working in China, Russia and Iraq, will be brought into the Board • They want to develop our Ghana interests and say they have excellent contacts there • Excellent contacts too in Iraq where the chances for this new Petrel are "far-far-better" • The new board will talk soon about some marketing to be done • John Teeling stated “Remember, with the Marketing machine behind Tamraz, after today Petrel is now no longer exposed to just Ireland/UK, it will now have Global exposure". Q & A SESSION ------------------------ Q: What is the impact on existing Shareholders? A: They will carry on with the values of the new Assets we should have, and the effect that will have on the Market, which has already started to put additional value to the price since [the Group] they came in, and that was without them being precise yet on the assets. They are now ready they think with 90 days with a precise Asset. Nomad advised them to not be precise yet, but it will be proven Reserves. Q: Could there ever be a situation where us shareholders HAVE to sell? e.g. a bigger Take Over later? A: (JT) That's exactly why we are meeting here today at this EGM - to avoid such a situation. They want to evolve Petrel, and bring the Shareholders along. It could involve more of these EGM's, because the Assets are EXTREMELY BIG. The intention is to keep the LISTING. Q: Which Petrel Asset is the most important? A: Mr Teeling and Mr Horgan know much more about Ireland so they can better talk about that. For Iraq, they think they have an added value for Petrel - Iraq has a very big potential. Iraq is also talking about bringing a pipeline to "Aqaba"? on the Red Sea (2 Billion barrels a day) which Tamraz are looking at. Ghana - Ghana is very interesting. They have very good relationships in Ghana. He thinks they will develop that.He also met 2 days ago the President of Republic of Congo who are looking at investments that they will bring to Petrel, and the Angola President is also close. In Iraq they have a good relationship with the Government now. Relationships are extremely important in ME and Africa. Q: What’s happening with BLOCK6? A: JT stated that after all those years that have passed by, the legal status has to be uncertain now but the new Petrel structure puts us in a far-far better position with the Iraqi Government. He added that there had to be questions about the strength of our claim, but having said that, they are not aware of anybody's attempt on Block 6 (after the meeting JT gave the impression that things were pointing more to possibilities on other fields in Iraq) Tamraz also mentioned they had already talked about Block 6 with the Iraqi's. Q: Is it possible that “other” Tamraz related companies might buy further shares? A: Mr Tamraz said that this was NOT their intention and that we should be clear about their intention. We don't want to take this public company for, say 75%, as that wouldn't make sense. We want to bring in Assets with a value on the Market so that it is reflected. 51% is enough to stop other companies wanting to step in when they see the quality of the Assets we bring in. Any asset they bring into Petrel will be a minimum of £100 million (pounds), so we don't need to buy more shares. We need to have their [Petrel’s] shares in the Market reflect the value of the Assets, and therefore the 49% SHAREHOLDERS WILL FOLLOW THAT VALUE. JT added that, for the foreseeable future, the current Board will have full control of the Board. But it WILL become a very different company. You can't expect that current Board will remain dominant. There WILL be more appointments to the Board. Tamraz said they won't be looking for resignations, they're happy with the board, but they want to bring in certain further other expertise. Q: Does Mr Tamraz think that the company will go strongly in the next year? A: Mr Tamraz re-emphasized that this was the intent. By bringing in important Assets, this should push the share price up. JT added that this is exactly why they recommend this proposal to the shareholders. Q: (repeat of earlier one) Is the Tamraz group now committed to NOT INCREASE their 51%? A: Again, he said he didn't need to. JT explained that such hypothetical situation would require a repeat of the same full process as the current take-over.
30/11/2019
11:07
jembo: Some thoughts: 1. The PET share price was £0.21 when the market closed on Friday, 29 November. The corresponding Market Cap was £31.4 million. (Market Cap = share price X No. of shares in issue, or £0.21 X 149,346,159). 2. After the close of the market on Friday, 29 November, at 17:27, the 64,035,976 new shares were officially issued, increasing the total No. of shares in issue to 213,382,135. 3. The issuing of the new shares does not increase Market Cap, but rather will dilute the value of the original share price. Therefore, when the market reopens on Monday, December 2, the new share price should be £0.15. (Market Cap = share price X No. of shares in issue, or £0.15 X 213,382,135). 4. The current Market Cap of £31.4 million results from the cash value of £0.5 million, plus the anticipated future additional assets of more than £100 million. 5. When the additional assets are confirmed (within 90 days of date of EGM, 21 November) then the Market Cap should be at least £100.5 million, plus the anticipated future value of any new contracts. This equates to an share price of at least £0.47(£100.5 million/213,382,135). The above is just my opinion and I welcome any correction to any errors in my calculations.
27/11/2019
15:05
cpap man: Well whilst CLON are of course alright PET are the daddies in the JT stable but currently the PET share price rise is only half of that at CLON!?!?!
Petrel Resources share price data is direct from the London Stock Exchange
ADVFN Advertorial
Your Recent History
LSE
PET
Petrel Res..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20200331 13:54:20