Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I think the phrase 'submission of bids' has confused a lot of people, including myself for a bit.
However, the Initial Tender Protocol document, published on the IOM's Petroleum Contracts and Licencing Directorate (PCLD), quite clearly states that:
4.2 BIDDING PROCESS
"The bid envelopes will be opened immediately following the deadline for their submission".
This ties in with the 2018 fifth licencing round which had April 25th as the deadline for submission of bids. The winners were then announced publically the following day on April 26th.
Cheers kdix,
If the bid date is May 11th then won’t it take them a few months to analyse and review each bid?
Morning Pauly,
The last official statement from the Iraq PCLD website stated there would be a 15 day delay and that "the submission of bids is now expected to commence May 11 2024".
However, that notice was replaced shortly after by another one saying the Final Tender Protocol (viewable only to participants) had been updated with the latest timetable. The FTP is a document giving the final bidding and contract details and is not viewable by us mere mortals.
In essence, we do not know the definite date other than it is "expected to commence 11th May", which is 2 weeks this Saturday.
The date in question is the day that they intend to hold a 'ceremony', a 'bid auction' , commence the 'submission of bids'. All these terms refer to the same thing and mean the date that bid envelopes will be opened and immediately publicly announced.
So we keep monitoring Iraq news articles for any confirmation of May 11th or otherwise.
Kdix - when are we expecting to hear news about when licensees are awarded? What the latest date we expect official news’s? End of May 2024?
Yea KD, you are hugely respected there . You know your stuff and hope after decades of pain and torture a miracle can happen
Thanks Pauly :).
Are you on advfn PET board? I've posted quite a few informative posts (I think ;)) with colourful screenshots. Shame that images cant be posted here otherwise I'd post more often.
KD pleased to have you join us here.
Results of both 5th+ and 6th licensing rounds were to be selected this Saturday (27th) but IOM have extended a further 15 days to May 11th.
Not long (again!) to wait.
If PET win the Merjan/Kifl/West Kifl licence then £100m mcap nailed on.
Sorry mate. Don't know how long you have been invested in here but we have been waiting on Iraq news for 25-30 years. And that is the truth. Its a dead loss .....they don't do anything. I would not advise anyone to invest in here. I'm only here waiting on my investment.
They have apparently 'good relationships'. doubt it worth a few million quid.
Ghana is dead and buried for sure. Iraq will be interesting and we should find out in a few months
I wouldn’t think it’s worth that !? What have they got …??
This share is a dead cert....for more of the same and rinse and repeat.
"Got money to throw away have you !?"
Probably, but don't want to throw it away. The market is always looking ahead. Any sign of Iraq oil field developments and this company will easily raise at much higher levels. But will we get it?
I've given up Ghana.
I’ve been waiting nearly 25 years I imagine….
Must be 25 years now.
How on earth is it possible that this company has gone up 1/4 in value in 1 day. Nonsense.
Lol who's buying and why? This is dead in the water needs miracle now
I've been waiting for Petrel to do something at least 10yrs lol...
Got money to throw away have you !?
Seems to be some buying interest last few days, myself included, though I'm just punting on possible Iraq news on the Merjan oil-field.
Several years ago I was punting on Tano block in Ghana with CLON and we are still waiting, so I'm not betting big.
No idea Sampson and neither does the directors of this sham company.
Not much to be potentially excited about here.
So what is next ……? Any idea.
Got it in one Nick.
Err .....Yes I agree, the only thing that has grown here is the money 'raised' from investors and 'translated' into expenses.
A regular pattern I've experienced with most AIM companies as well as other listed companies.
Hence overall market skepticism and trading volume sinking for the last several years as well as valuations.
Looks like no one is bullish here then?
Grow the company but this company has been established 30/40 years now. That is not growing a company …..