Petrel Resources Takeover Rumours (PET)


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Petrel Resources Takeover Price

Petrel Resources Takeover Forum Posts

Maybe the takeover will happen having maybe something to bargain with?
Agreed The Sage after 20 years our time has finally come basically its now or never my thoughts are get a deal over the line and JT sells out his nearly 90 takeover by CP and happy days hopefully
Well a lot of us have been here 20 years and need the money back for our retirements i reckon we will get good news soon either IRAQ or CP try again for a takeover but they need to produce the goodies 1st
The CP will return with title to an asset. The door to the takeover is now shut but they can still offer the asset to get back to 29.9%. Have the injunction lifted etc etc. They are not going to sell, even if they could, because there is more than one way to crack an egg.
Well you dont want to be out over the weekend and leading up to Christmas this went from 1p to 26p last year and what with Iraq dishing out contracts could be any day now plus the possibility of a hostile takeover by CP which would surge the SP Onwards and Upwards GLA
Lets see 26p smashed for starters Iraq deals coming possible takeover on cards again to infinity and beyond GLA
"Ducky Fuzz 25 Jul '20 - 07:28 - 16805 of 16808 I bought into PETrel not that long ago when the Tamraz group first arrived. So of course I am disappointed that there is unlikely to be a future Tamraz takeover." And I'm sure you were warned then, that PET has a history of projects that have delivered nothing but losses. Swayed by the lure of a "Free" £100m asset , whilst some said there will be no free lunch , there will be no free asset. A year on and there is no £100m asset , just ideas with no title. Those who said a long time ago it will not happen have been proved right again. What about 90 days to get the paperwork in order ? What that all about the truth?
I bought into PETrel not that long ago when the Tamraz group first arrived. So of course I am disappointed that there is unlikely to be a future Tamraz takeover. I thought Hogan's answer that PETrel needed funds & the Tamraz group supplied that in acquiring 29.9% of the company was logical. But I certainly do not want the Tamraz group given any more shares at 1.25c until & if they provide a $100 million asset. Yes I'm pleased the old BOD & the Tamraz Group are getting on with each other. Even without the takeover I would expect Tamraz to use what influence he has to help get deals for PETrel.
As Ducky would say... I believe f31. Why on earth include so many in a conspiracy, just silly if things have to be kept quite. Also as f31 says why sell when you need to rely on those shares to get you pass the takeover line. The buying yesterday looks like traders with stops hit today. Load of fuss and nonsense.
Well we have the AGM this Friday i voted for M Fayad to re appointed as a Director i would expect a sharp rise in Share Price leading up to Christmas once again if this happens on Speculation of a Takeover by Net Oil plus speculation of a deal in IRAQ Good Luck All we deserve it
I'm not sure I follow Dusseldorf - if they had sold after the takeover had been cancelled then they would have done so at a lower price. I think they still hold because of the lock in and will continue to do so. This two horse race is far from over and they will want to be in it and indeed will be expected to hold.
The thing is this team delivered in 2007 with SL contract then we hit are highest sp only for it to fall apart taking into account the mayhem that pursued in Iraq. I'm one of the 20year + brigade but get nagging doubts about pets ability to deliver without some much needed help.I thought the takeover was going to be the making of Pet as we all know it has become an entangled mess in which I hope pet can give all holders a good future.
DF: It still is the Tamraz Group's intention to take control of Petrel. Already having a Director on the Board will give that intention a stronger foundation. I guess that's why the AGM notice states that Michel Fayad seeks election. John Teeling will however not do much to support such vote, I even expect the contrary. A Director is paid 30K - hardly worth talking about if at some point a Takeover should still happen.
The other board discussing how despite the lifting of lockdown restrictions - PET's AGM is supposed to be almost non-attended with no discussion. Given the momentus "takeover/non takeover" debacle - is it surprising that they want to bury the issue without discussion? Corporate governance.....
Sorry Pete. I'm excited too. It might take another few months but I'm personally very hopeful of us getting Block 6 or Merjan or similar. Politically and economically we are (ironically) back in a similar situation to all these years ago except this time we have a 'stable' government, backed by the powers behind the scenes (Iran) who support oil and gas Iraq are desperately wanting to expand their gas processing (flaring) for domestic energy requirements (including exploring and developing new 'pure gas' plays). Also, this time we have the experience and influence of the TG. In my opinion, the real and only reason they want to use and takeover Petrel is because of the vast gas and oil potential in the western desert (considered by many to have more than 100 BILLION barrels). There's much more than 'just' the 3-5 billion barrels that is attributed to Block 6 - I'm almost certain of that. Sweet dreams! :)
PP because that cheap price was conditional of them transfering the £100k Asset which did not come to fruition but a takeover is still on the cards when they can deliver GLA
After breakdown of takeover it’s a very good result.
Well that RNS is a surprise getting a. Placing away at 3.25p is pretty damn impressive given all the shit with this takeover. And talking very positively about Iraq. Wonder how the market will take this.
susiebe can I ask what further news are you expecting about TG? My thoughts are that as PET's major shareholder Tamraz will want to resolve his issues with PET but I'm not sure how this could be done. The only options I can see is some form of takeover, which could be messy, so more likely a deal that has title, when to hand, being offered for more shares?
So we have five scenarios: 1. PET brings a new deal to the table, probably from Iraq 2. The CP does more work on one of their projects and offers it again to PET for shares 3. Ghana is given the green light - making it harder for the CP to get majority 4. A takeover approach - we can all live in hope cpap 5. We go bust! At least we have no debt and small overheads. Lots of pros and cons for each option but at least we have more options now than last year. My preferred option is still number two but any would work for me - apart from the obvious!
Holding on here.Relatively small holding luckily but wonder if todays RNS kind of draws a line or spurs TG into some sort of takeover.I dont know but PET still has potential esp in Ghana.
Takeover lolz, check the toilet bowl, if Carlsberg did turds ...
Which is why we need the takeover completed.
As long as they stay safe and healthy wtp, hopefully, they will be able to travel soon if that's required to finalise the takeover.
Not if a deal is concluded to resume the takeover it’s not is it.
I mean the new Board with the Tamaraz group would be able to open up Ghana and Iraq The current board actually admitted that to me that’s why they needed the takeover
Not that I am aware this is not about Ghana. This is all about completing the takeover or controlling interest by the Tamaraz Group. They will then be free to introduce various assets and grow this business into a real Oil company. The board are the only thing standing in the way at the moment. Call the board you won’t get any answers from them.
Well I am just sitting here waiting for the eventual letter from the Tamaraz Group calling for an EGM to call for a vote of no confidence in the board. Suggesting a new board and for shareholders to vote on a solution to complete the takeover and get this business moving to where it should have been last November. They will get my vote for sure as this board are a complete joke. It’s Just a matter of time. All in my opinion of course.
For what it’s worth, I think the trigger for the formal takeover will be Ghana as it is effectively only four steps away; Insolvency bill becoming law Camac (Erin) being stripped of their licence Pan Andean being awarded Tano 2A Tano 2A ratified by parliament and awarded The Insolvency Bill has been passed by parliament and is awaiting presidential approval allowing Camac / Erin to be stripped of the licence. These two phases can be completed relatively quickly and the final two stages will require a presence in Ghana, hence why Michel mentioned after Covid-19. Just a theory based on timescales but quickest way for Netoil to get to a position where the takeover would have to occur. If PET want Ghana they will have to play ball. Take care and stay safe. AJ
Well of course I would I have had many many 100% losses in companies I am sitting on A 50% loss here if I sold out. But taking a loss and then staying on the board and slagging the company off non stop is not good for the mind. Move on I am only interested here to see the Tamaraz Group takeover and change the fortunes of the company. If they do I will be very happy. If they don’t I will lose it’s simple b
In the meantime I expect to see at least one contract from Iraq to prove PET has the ability to fulfil terms, that alone will see a frenzy here, but that is sometime off due to current state of affairs in Iraq. In the meantime other deals concerning other countries will be offered to get the takeover done. Hopefully, that will be concluded soon.
This is nothing to do with any Clon projects this is a Tamaraz Group offer on the table for PET to be paid for in PET shares. We know this much from RNS and newspaper article. Do resolve the CP to being the takeover party. Maybe a decision has been agreed why else would we get a sudden flurry of buys. And an 18.8% lift in share price Someone always knows somwthing
We might all want to accept the deal. Can we trust this board now to act on our behalf The EGM was clear the advice was to go with the takeover surely now is not the time to renege on that agreement. Especially if the deal gives the chance of Petrels survival. The alternative is toast. Is it not. I don’t want the board throwing my money away.
I hope this will get resolved and expect it to - but this is PET whose current Board will rely on the Courts at a drop of a hot. The proof is that the takeover should have been done by now. These guys just love to negotiate and procrastinate!
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