Petrel Resources Share Price (PET)

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% 11.75 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
11.00 12.50 11.75 11.75 11.75
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -3.90 -3.91 18
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.00 GBX
Related Shares
Bp (BP.), Royal Dutch Shell (RDSA), Curzon Energy (CZN), Nautilus Marine Services (NAUT)

Petrel Resources (PET) Latest News

Petrel Resources News

Date Time Source Headline
29/11/201917:27UKREGPetrel Resources PLC Total Voting Rights
26/11/201914:05UKREGPetrel Resources PLC Second Price Monitoring Extn
26/11/201914:00UKREGPetrel Resources PLC Price Monitoring Extension
21/11/201913:56UKREGPetrel Resources PLC Results of EGM and Issue of New Ordinary Shares
18/11/201907:00UKREGPetrel Resources PLC Extraordinary General Meeting
01/11/201907:00UKREGPetrel Resources PLC Proposals by investor group to increase holding
30/9/201913:05UKREGPetrel Resources PLC Second Price Monitoring Extn
30/9/201913:00UKREGPetrel Resources PLC Price Monitoring Extension
25/9/201912:52ALNCPetrel Resources Appoints Directors After New Investor Group Placing
25/9/201910:05UKREGPetrel Resources PLC Second Price Monitoring Extn
More Petrel Resources News
Petrel Resources Takeover Rumours

Petrel Resources (PET) Discussions and Chat

Petrel Resources Forums and Chat

Date Time Title Posts
12/12/201908:18Petrel Resources finally set to deliver?9,110
11/12/201911:19PETREL resources10,586
10/12/201914:05Zak Mir says BUY in Petrel Resources (LSE:PET) live on TipTV.32
23/9/201906:25Locate cheap petrol in your area15
23/9/201906:25Sunday Telegraph rates AIM listed, Petrel Resources a Strong Buy37

Add a New Thread

Petrel Resources (PET) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2019-12-11 17:12:1812.38100,00012,375.00O
2019-12-11 16:11:4512.437,158889.38O
2019-12-11 16:10:4912.436,000745.50O
2019-12-11 16:10:2911.556,000693.00O
2019-12-11 15:58:3912.0025,0003,000.00O
View all Petrel Resources trades in real-time

Petrel Resources (PET) Top Chat Posts

DateSubject
11/12/2019
08:20		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 11.75p.
Petrel Resources Plc has a 4 week average price of 4.70p and a 12 week average price of 4p.
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 596,535 shares. The market capitalisation of Petrel Resources Plc is £17,548,173.68.
Read Full Thread
Reply
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.
Read Full Thread
Follow
Reply
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.
Read Full Thread
Follow
Reply
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!?!?!
Read Full Thread
Follow
Reply
23/11/2019
17:37		kdickson: 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. Skiboy10, as suggested by Ducky Fuzz, it might be useful to put this in the header if you're happy to do that? :) 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.
Read Full Thread
Follow
Reply
15/11/2019
09:08		kdickson: Grest reminder AJJ2003 of the very important point that these Netoil guys stand to benefit greatly as INDIVIDUAL long term shareholders in PET. And we do too! :)) Seems timely to re-post this:- Here’s 4 reasons why I believe this is a WIN WIN situation for BOTH Netoil AND Petrel Resources.. FIRSTLY…. Eight individual Netoil executives now own shares in Petrel, totalling 51% of the company. Yes, they got them relatively cheap and have already made a tidy paper profit BUT think about why Netoil didn’t just buy us out straight away which they could have easily done with their pocket change. No, these Netoil people stand to make FAR more money as INDIVIDUAL persons holding shares in Petrel than if their parent company Netoil simply bought us out. It’s effectively a kind of Netoil TEAM BONUS SCHEME for them! As individuals, using Petrel as a vehicle for winning multiple mega projects, they (AND US) stand to make absolutely massive personal gains. That’s what makes them tick – the massive profits they can make individually. If they can get the share price up to the fabled £10 per share, that’s over £1 BILLION profit between the 8 of them! SECONDLY… As elmfield stated last week, the RNS quite clearly explains that the Netoil individuals cannot do anything to completely buy out Petrel and take it private WITHOUT the support of CURRENT major shareholders. Here it is in black and white: “The Concert Party intends that the Company should remain quoted on AIM and may only vote their shareholding in favour of a cancellation from admission to trading on AIM if the Independent Directors recommend such cancellation” [“Independent Directors" are John Teeling, David Horgan, Riadh Mahmoud Hameed]. In addition, cpap man (who has a substantial shareholding and known PET directors for many years) has clearly indicated that: a) The concert party do NOT wants to get hold of our 49% b) The Takeover Panel can NOT force the concert party to make a takeover offer. THIRDLY… Think about it. The ONLY way for investors to gain access to the Iraqi plays of private company Netoil will be through buying publicly listed PETREL shares. As we know, there is not going to be a complete takeover of Petrel by Netoil (at least in the next 12 months) so I really can’t see any other way that investors/traders could get a piece of the action. Just imagine what would happen to the share price if just ONE deal was ‘won’/routed through Petrel! Now imagine if EVERY project/deal was routed through PET!! This would instantly give the Netoil individuals huge paper gains and give Petel shareholders the same huge gains. That’s why it is a WIN WIN situation for everyone and no need for anyone to moan about massive diltion or cheap entry for some. That’s why cpap man has often siad that we are a “MONSTER" in the making. FOURTHLY… Remember that these 108 million new shares are NOT tradeable for 12 months, so there is effectively the same number of original free float shares available for trading (during next 12 months). So, when there’s a mega announcement soon, then any run on the share price should in theory be the same as if there hadn't been any new shares.
Read Full Thread
Follow
Reply
25/9/2019
10:30		cpap man: Perhaps exile does NOT want to miss out this time on at least another 900% increase in the PET share price!?!?!
Read Full Thread
Follow
Reply
24/9/2019
09:24		cpap man: PET share price currently off circa 1/3rd in one and a bit days....
Read Full Thread
Follow
Reply
23/9/2019
09:00		cpap man: The PET share price is quite clearly saying....COME FLY WITH ME
Read Full Thread
Follow
Reply
23/9/2019
08:35		cpap man: The only sort of weakness you are going to see in my view is like now i.e. some light profit taking of the unwinding of some speculative positions The recent move in the PET share price supported by todays RNS clearly demonstrate the direction of travel for PET
Read Full Thread
Follow
Reply
04/9/2019
10:41		cpap man: Similar trading patterns in PET shares today as with yesterday. Volumes building ahead of another afternoon strong push northwards in the PET share price ahead of the first of several likely mega RNSs?!?!?
Read Full Thread
Follow
Reply
Petrel Resources share price data is direct from the London Stock Exchange
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:20191212 08:22:51