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Petrel Resources Share Chat (PET)



Share Price: 2.625Bid: 2.50Ask: 2.75Change: 0.00 (0.00%)No Movement on Petrel Res
Spread: 0.25Spread as %: 10.00%Open: 2.625High: 2.625Low: 2.625Yesterday’s Close: 2.625


Share Discussion for Petrel Resources


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wraith
Posts: 4,979
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: 10,710
Observation
Opinion:Buy
Price:2.875
Getting ready to move....
8 Sep '17
nm
wraith
Posts: 4,979
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: 10,710
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: 10,710
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: 4,979
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: 10,710
Observation
Opinion:No Opinion
Price:2.875
Mmmm
5 Sep '17
Someone nibbling.. news/rumours out there perhaps?
wraith
Posts: 4,979
Observation
Opinion:No Opinion
Price:2.625
RE: data, 3rd quarter 2017
4 Sep '17
• In May 2017 Petrel had constructive discussions with the Ghanaian Ministry of Energy, with a mutual desire to resolve all
outstanding issues and complete the ratification process.
Source: http://www.petrelresources.com/res/web-version-petrel-annual-2016.pdf

BW
wraith
Posts: 4,979
Observation
Opinion:No Opinion
Price:2.625
data, 3rd quarter 2017
4 Sep '17
PET main focus Irish Atlantic Porcupine Basin
In contrast to the industry worldwide, there is increased petroleum industry activity in the Irish Atlantic Porcupine Basin:
• A number of 3D seismic acquisition programmes have been conducted during 2016, with more scheduled for 2017.
• The Druid/Dombeg deep water wildcat well (in 2,200 metres water depth) in the south-west of the Porcupine Basin is
scheduled for summer 2017. This is operated by Providence, with Sosina and Cairn Energy as partners. It aims to test
plays at two or more rock depths.
• As with any frontier province, a major discovery in this basin will transform industry perceptions and the farm-out market.
Joint Venture with Woodside Energy in the Irish Atlantic Porcupine Basin:
• Contractor PGS acquired state-of-the-art 3D seismic data across FEL 3/14, a 475km2 block in which Petrel has a 15%
carry from operator Woodside Energy (see map). Circa 1,400km2 of the 3D seismic acquired is directly over or around
FEL 3/14.
• The ‘Bréanann’ 3D seismic acquisition programme was successfully completed, over 40 days, over a total c. 2,392km2
of the northern Porcupine Basin, 150km west off the Kerry coast, south-western Ireland. Water depth of the survey was
500m to 1,300m, but likely water depth for Petrel’s targets is 600 to 800m.
• 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.
• 3D seismic interpretation of pre-rift and syn-rift unconformities will be conducted by the operator, Woodside Energy.
This work is intended to de-risk identified Jurassic and Cretaceous plays that may lead to one or more well commitment
in the 2nd work phase 2017 through 2021.
• Operator Woodside Energy opted not to continue into the 2nd phase on FEL 4/14, and the block was relinquished without
seismic having been acquired. This is now subject to arbitration in London.
2015 Irish Atlantic Bid Round
• Petrel was awarded 924 km2 of prospective Irish Atlantic Porcupine Basin acreage in June 2016 by way of two Licensing
Options.
• Licensing Option 16/24 includes 664 km2 bordering the Connemara oil-field discovered by BP in 1983.
• Licensing Option 16/24 work programme includes the acquisition, reprocessing and re-interpretation of historic seismic
not already in Petrel’s database. These North-Western Porcupine Basin blocks constitute a well-located holding offering
majors a tempting farm-in at a time of renewed interest.
Ghanaian Tano Basin Petroleum Agreement
• The new Ghanaian NPP Government is reviewing historic Petroleum Agreements, with stated focus on early
development.
• In May 2017 Petrel had constructive discussions with the Ghanaian Ministry of Energy, with a mutual desire to resolve all
outs
wraith
Posts: 4,979
Observation
Opinion:No Opinion
Price:2.625
RE: pvr
30 Aug '17
Still no PVR Drombeg RNS results,...took a position myself, here at PET today,.... shows as a red Sell above (s/p@2.6p).

BW




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