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This could be huge news for PET!
how many millions of barrels for PETREL RESOURCES??
https://www.iraqoilreport.com/?s=s
Iraqi oil minister wants oil exploration to explore oil
The directors, collectively, the last major purchase I'd say.
When was the last time someone bought some shares here there’s a reason why it’s a continuous sell off and that’s because they have absolutely no business plan or assets.
Time old man Teeling hung his wellies up and moved over for someone who can do something with this shell of a company. Twenty years of achieving nothing is taking the proverbial.
It seems to be getting harder and harder to buy small volumes here now. Matter of time before it moves
Does anyone know how this BOD spend their day it’s certainly not putting a shift in maybe they pass their time dreaming up more fairy tales about Iraq.
I called the office to ask them this very question but was told John had just popped out to the post office to collect his state pension, heaven help us!
PET have tried this before and look how it turned out!
See on ADFN that PET might be looking at an RTO to bend into the company. If factual this share could do very well
The reward far out weighs the risk from this level. News update needed for a significant and sustained sp increase. Something encouraging from Iraq or Ghana would do the trick. GLA
A sniff of volume and this flies. Ideally we need some news to move this to 2p,3p, 4p +
Is something cooking in the PET cauldron?
Accounts are on the PET website Caesar.
Has anyone any idea of the cash burn here or is the company safe for a good few months yet
And this could rise somewhat from here.
can do a few bags of fresh air here, when she blows she blows imo
That’s a bit better today.
Clon has risen 200% and more rises likely. Shows where pet is likely to land sometime this year. Here shows the opportunity with the low shares in issue and small market cap.
And I'd agree, CLON seen to have more irons in the fire.... it's not clear how far in or how hot though - to torture the metaphor.
PET is playing it's irons closer to it's chest - to mix and torture metaphors.
You could cover the bases and line your bottom drawer with both.
Whatever works for you - as I say, there are many ways. But note:
MCap is simply, outstanding shares x share price.
And since your investment is, number is shares x purchase price, and your profit or loss is the movement in price x your holding, it makes sense to me at least, to make the comparison using the same denominators.
But each to their own.
But should you not price it according to Mcap rather then shares in issue?
Thabks for your response just trying to figure out which is best the multibags lol, have to say clon have Bolivia lithium and possible Australia drill
Iamrich... CLON has 60%, not 70%. Pet has 30%, state owned co. has the balance.
So, one way to answer your question is...
Take an estimated value for the asset, whatever you like, the figure doesn't matter for this exercise but it might be fun trying to forecast it.
Divide 60% of that by the number of CLON shares.
Divide 30% by the number of PET shares.
Divide each by their respective prevailing share price to get the multiples.
Compare and decide.
We just need the BOD to get some kind of deal activated to get us back in the limelight. Huge upside if they do and definitely worth a gamble from this level.
But surely it will reflect market caps,and clon has say near 70% of Ghana, so would clon do better in a rise then pet? And who's going to buy out pet? Dont see anyone interested
Clon have 4.4 bln shares in issue as opposed to Pet 178 million of which 25% held by the board.
Any whiff of positive news here and this will rerate swiftly, me thinks.
There is Ghana, Iraq and a really tight capital structure here with the board owning about 25% of the company. Pet has a £2.5m cap and have openly advised they are on the hunt for a new asset. Clon £4m cap with a higher cash burn and director shares that are to be converted in leu of historical salary. Both will move together when the other rises. At 1.4p these look good value