Petrel Resources Takeover Rumours (PET)

1. JT has stated that he has been approached several times re a reverse takeover 2. OK your probably correct on this one 3. Clon will soon have an opportunity to progress in either Bolivia Chile or Argentina so hopefully this will get reflested in a much improved SP

Yes with 24 Million of accrued losses this is a tax offset for a reverse takeover so that alone should should value SP a multibagger from these levels as less than 200 million of shares in circulation also i do believe the work we did on Merjan must be of some value to sell to the Chineese also we can sell our 30% interest in Ghana to Clon or can they still pull something out of the hat i dont think we have anyone working our cause out there anymore questions need answering at the AGM Jam tomorrow days are over or should Clon and Pet Merge into 1 company they never should have been seperate companies just a way od directors getting more salaries

Petrel could do with a revers takeover of private company.not many companies have so few shares in existence.

"BigBudda 4 Jun '24 - 11:46 - 22515 of 22516 Looking forward to statement in annual report and at AGM worst case scenario is 10p plus for a reverse takeover maybe much more" BB surely you are underplaying this by about 10x ? I think in legal documents to record the "sale" the lowest figure they go to is "£1" I have seen a number of RNS's declaring sold for £1 before. You did of course mean 10p for the Whole company , didn't you ?

Looking forward to statement in annual report and at AGM worst case scenario is 10p plus for a reverse takeover maybe much more

If no news before then the PET AGM it will be very interesting this year Basically PET cant do anything without the financial backing or takeover by Itouchu We await to see if we are in direct talks Crumbs Crumbs is what we need Otherwise a reverse takeover will most probably happen

They need to deliver for sure 20 years is to long but they have been unlucky with wars and Covid but no more excuses if we dont get a deal then need to sell as a shell company reverse takeover

Elmfield, I don't believe Pet were ever in the bidding, I believe you had to put up a bond and as far as I can see they did not. However there will be a fall in the share price but I do think Pet at the right price are a model for a reverse takeover?

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Our only hope is that at some point the BOD have to cash out their 25%/30% equity (their limit) and they don't want to many bucket shop equity raises to dilute their holdings. Though you can actually get an exception to this to own more than the traditional takeover/offer trigger threshold.