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ASCENT RESOURCES: Gas flows mean cash flows to develop up to 15 wells


Petrel Resources Share Chat (PET)



Share Price: 2.125Bid: 2.00Ask: 2.25Change: 0.00 (0.00%)No Movement on Petrel Res
Spread: 0.25Spread as %: 12.50%Open: 2.125High: 2.125Low: 2.125Yesterday’s Close: 2.125


Share Discussion for Petrel Resources


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wraith
Posts: 5,103
Observation
Opinion:No Opinion
Price:2.25
RE: Cash depletion
4 Nov '17
Hmm, I miscalculated there,..... my previous calculations, are based on my Gross Funds invested in PET,....the calculations, should have been based, on current PET s/p level,....which gives a current level of 1.35% approx, of my current share portfolio Funds invested, exposed to PET s/p, at present.

BW
 
wraith
Posts: 5,103
Observation
Opinion:No Opinion
Price:2.25
RE: Cash depletion
4 Nov '17
Cash call looming, you could be right there,.....I am holding a small (2.3% approx, of my share portfolio, is invested in PET, at present values) Core shareholding, in PET, at present,....if we get good unexpected news, resulting in s/p uplift, I will be in a good position (toe in the door) to average up from,....if we get dilution via Cash call, with only 2.3% of my portfolio value, exposed to PET s/p at present, I am in a strong position, to take advantage of any lower PET s/p level, which could result, from any dilution.

BW
Dibs61
Posts: 10,943
Observation
Opinion:No Opinion
Price:2.25
Cash depletion
2 Nov '17
Petrel set to run out of cash by end of year or soon after. Cash call looming. I£m sure they£ll try to time it to their advantage with news of the looooong awaited 3D seismic from Woodside
wraith
Posts: 5,103
Observation
Opinion:No Opinion
Price:2.875
RE: Oh....
9 Sep '17
With the newly elected Ghanaian government being pro-development, it's looking more promising on that front;-

"The directors of Petrel Resources plc (AIM: PET) are pleased to report that discussions have taken place in recent days relating to the Tano 2A onshore offshore block in Ghana. These discussions were positive and constructive, and will be continued.

David Horgan, Director, commented "The Tano 2A saga has been ongoing for nine years. There are numerous legacy issues which are being addressed. Progress is being made. The newly elected government is pro-development and committed to improved standards. We are committed to helping find and develop Ghana's natural resources. With continued good-will and common sense we hope that any outstanding issues will be satisfactorily and promptly resolved.",....also (imo).
Source: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PET/13253141.html

Should soon hear something from Woodside Energy;-

"• Processing of the (Pre-Stacked Depth Migration) 3D seismic data is now being completed at the DownUnder
GeoSolutions (DUG) operation in Australia. Quality is reported to be excellent. We expect data availability by 3rd quarter
2017."
Source: http://www.petrelresources.com/res/web-version-petrel-annual-2016.pdf (page 6).

BW
Dibs61
Posts: 10,943
Observation
Opinion:Buy
Price:2.875
Getting ready to move....
8 Sep '17
nm
wraith
Posts: 5,103
Observation
Opinion:No Opinion
Price:2.875
RE: Oh....
8 Sep '17
FEL 3/14, is why I have joined you all here (as for the other assets, I'm a patient man );-

" ONE BILLION BARREL PLUS POTENTIAL. TARGETS ARE ACCESSIBLE WITH ONE WELL."
Source: http://www.petrelresources.com/operations/ireland/fel-3-14

BW
Dibs61
Posts: 10,943
Observation
Opinion:No Opinion
Price:3.00
Oh....
7 Sep '17
And 'if' the PVR drill is successful then that provides an additional substantial boost of interest here, rest assured ;)
Dibs61
Posts: 10,943
Observation
Opinion:Weak Buy
Price:3.00
As wraith says....
7 Sep '17
This is currently rock bottom. All important Woodside 3D seismic results due this month. Positive outcome could at least double SP here.
wraith
Posts: 5,103
Observation
Opinion:No Opinion
Price:3.125
RE: Mmmm
5 Sep '17
Drombeg drill results & Woodside news, are both expected this month,..hopefully with some positive news from one or both, we will see people taking a bit more interest in PET.

With only 99.68m shares in issue (Market Cap £3.12m),...PET is a Strong Buy for myself at present s/p levels , started to build a Core PET shareholding position last week.

BW
Dibs61
Posts: 10,943
Observation
Opinion:No Opinion
Price:2.875
Mmmm
5 Sep '17
Someone nibbling.. news/rumours out there perhaps?




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