Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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After more than a decade of debates and delays, Iraq is poised to pass an oil and gas law that would grant foreign companies a stake in the country’s oil output. The official Alsabah newspaper reported that this significant development could occur following the
After more than a decade of debates and delays, Iraq is poised to pass an oil and gas law that would grant foreign companies a stake in the country’s oil output. The official Alsabah newspaper reported that this significant development could occur following the
Https://www.oilandgasmiddleeast.com/news/iraq-new-law-allows-foreign-companies-to-own-oil-output
Where did you get the following quotes from? I can't see it on any RNS.
“We have had multiple approaches - there is substantial interest in Petrel as a Shell – never mind the operational activities, because of the low number of Shareholders and of which a very high % of it is under control of the Board”
“we’ve been concentrating on looking for an Investor that brings Cash, who will have less than 30%, and that is a story that can be told in a way that in turn is attractive to new Investors”
“So there is interest, it’s a clean vehicle to use, and we WILL do something, and we HAVE opportunities to do things.
“The share price should rise substantially”
From AGM
And
“We have had multiple approaches - there is substantial interest in Petrel as a Shell”
in conjuction with: "David stated that their priority is now to increase the share price, and he could not have been clearer that this was not only in the interest of us as shareholders, but obviously also in the interest of their own large shareholdings and that of their family"
join the dots.....
https://www.iraqinews.com/iraq/iraq-may-pass-new-law-permitting-foreign-firms-to-own-oil/
Where are these quotes from?
And
“We have had multiple approaches - there is substantial interest in Petrel as a Shell”
in conjuction with: "David stated that their priority is now to increase the share price, and he could not have been clearer that this was not only in the interest of us as shareholders, but obviously also in the interest of their own large shareholdings and that of their family"
David…..
“We have had multiple approaches - there is substantial interest in Petrel as a Shell – never mind the operational activities, because of the low number of Shareholders and of which a very high % of it is under control of the Board”
“we’ve been concentrating on looking for an Investor that brings Cash, who will have less than 30%, and that is a story that can be told in a way that in turn is attractive to new Investors”
“So there is interest, it’s a clean vehicle to use, and we WILL do something, and we HAVE opportunities to do things.
“The share price should rise substantially”
Personally my gut feeling is that they are in reasonably advanced negotiations with Investors that want to take say a 30% share in the Petrel LSE vehicle.
PS: according to David – oil demand will grow for another 20 yearsnews
Iraq opening up to foreign investors.
looks good for the likes of PET,
Petral Resources.
news due as per AGM this month.
join the dots......
should do well
Https://www.iraqinews.com/iraq/iraq-may-pass-new-law-permitting-foreign-firms-to-own-oil/
Https://www.iraqinews.com/iraq/iraq-may-pass-new-law-permitting-foreign-firms-to-own-oil/
how many millions of barrels of oil in Iraq?
140 billion dollars that's a staggering amount
PET will be beneficial to the new Law for oil and gas
Baghdad (IraqiNess.com) – Iraq is about to enact an oil and gas law that would give international corporations a part in the nation’s oil output after more than ten years of discussions and delays.
This important step may take place after the municipal elections in December, according to Al-Sabah newspaper.
Despite the most recent developments, there are still outstanding issues between the federal government in Baghdad and the Kurdistan Regional Government (KRG) in Erbil.
A planned federal oil and gas council’s proposed leadership is one of the main points of conflict, Ali Mashkour, a member of the Parliament’s Oil and Gas Committee, told Oil & Gas Middle East.
There is the reverse merger possibility. Did OK with that last time,
I would welcome the opportunity to examine the directors expenses.
Groundhog Day once again as they make ready for another placing with shareholders being lined up for another fleecing. Still flogging the same two dead horses ( Iraq and Ghana) these mugs are continually taking the proverbial and getting away with it. Where does all the money go that’s raised to progress the two dead horses, face time discussions if they exist cost nothing.
RNS today
The board expects to add another one or more Non-Executive Directors with the next
major deal.
Any hint of this or a licence and these fly up again to over 20p.
The dream continues.... :)
This BOD have managed to take this company with a one time share price of £1.50 and drive it down to the current price of 0.90, quite a substantial achievement, so I think the answer to your question is a big fat no.
Great time to buy but by now what exactly are the chances/odds of Pet winning a licence
When I type in the following heading. It comes up with Pet rescue. I think that’s very appropriate. Nothing going on here. Will be back in another 6 months for a check up.
Fairy tales of Ireland: rainbows 🌈 , leprechauns and crocs of fools gold here.
Discussions start in September :)
Here here - these people are jokers. They might as well work. And i use the word “work” very loosely from home.
Or from a garden shed. Nothing going on here -
Well said Sampson long term holders like us have heard the same fairy tales told every year.
Twenty years waiting for Iraq and ten years waiting for Ghana neither of which will ever happen.
Like many others I have no option but to hang on and like the directors of this company pray for a miracle.
Sorry mate but it’s all utter tripe. Been hearing the same
Tune for the past 25 years +. Don’t be fooled.
Have to hold here because of no other option. Too far
Gone now. But good luck.
So they have prioritised this road during this year, taking into account lessons learned during Tamraz.
David…..
“We have had multiple approaches - there is substantial interest in Petrel as a Shell – never mind the operational activities, because of the low number of Shareholders and of which a very high % of it is under control of the Board”
“we’ve been concentrating on looking for an Investor that brings Cash, who will have less than 30%, and that is a story that can be told in a way that in turn is attractive to new Investors”
“So there is interest, it’s a clean vehicle to use, and we WILL do something, and we HAVE opportunities to do things.
“The share price should rise substantially”
Personally my gut feeling is that they are in reasonably advanced negotiations with Investors that want to take say a 30% share in the Petrel LSE vehicle.
PS: according to David – oil demand will grow for another 20 years
From ADVFN f31:
Last year I left the AGM with a feeling of a complete standstill and not much hope for anything any time soon.
Yesterday I came away a lot more positive, and in fact I feel rather optimistic that we will see some positive developments coming up for Petrel – and in a not too far distance.
Summary of the AGM:
GHANA:
I would say – forget about Ghana for the moment.
As per David in AGM…….
“There is a deal to be done, but the expectation on the other side is for pay-off’s - which we can’t do”
They have also been asked to consider alternative other acreage than the current one, perhaps with better chance of title, but we might struggle to find farm-in, so not attractive.
For the moment they are therefore hanging in and insisting on their current acreage “agreementR21; and see how it all packs out.
But I would say – don’t gamble on any Ghana development any time soon.
IRAQ:
Stumbling block has always been the fiscal terms.
But David on the new TOTAL Contract…..
”Not seen official details but media reports suggest that up to 30% of produced oil may be available for profit sharing, which means that the game could be up again.
And as a result of that we also re-established contact with Itochu”
PS: the current world-wide boss of Itochu Gas, was previously a 1 year intern with Petrel in Dublin !!
David….
“We have a very good local representative, politically involved, who had made considerable progress and wanted Petrel to submit a very specific proposal.
So they have submitted a proposal for Merjan, and they have been told to be available in September for meetings on the proposal.
David:………
“It will all depend on which terms can be negotiated.
If it’s not sufficiently attractive, we won’t be able to farm it down – and if the rate of return is not sufficient, we won’t be able to fund it independently”
So basically, we’ll now have to wait and see what will develop in September, and if negotiations can be successful.
As of February this year, no other competitors had (yet) submitted a bid for Merjan.
GENERAL:
As per above, I feel we MIGHT get a reasonable shot at Merjan, so that’s good.
But in addition to that ………;
(and this is the reason why I feel rather optimistic ………;..)
First off: David stated that their priority is now to increase the share price, and he could not have been clearer that this was not only in the interest of us as shareholders, but obviously also in the interest of their own large shareholdings and that of their family.
As you know, altogether they have a very large combined shareholdings, so yes, a good share price is very important to them as well.
The quickest way to achieve this goal is to use Petrel as a liquid LSE trading vehicle, very much like the Tamraz model
(David:……; “The Tamraz model in itself was a good model, but unfortunately Tamraz could ultimately not deliver).
So they have prioriti
Never ending B/S from these cowboys, how have they got away with this for so long.