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Fully anticipate for update.
Bed and ISA perhaps?
Yes expecting strong bounces for both UMR and PET over the coming days
One hell of a raid
Looks like an update inbound.
Top-up opportunity.
Added up.
There they go!
Expecting a at some point tomorrow as the hot money traders that got in for the rise leading up to the anticipated news on Monday exit beforehand
Just a start and a long way to go.Crazy cheap and way over under stock.
Could be another high volume day today and test 4p
Samson - We know you are a genuine shareholder and I hear you loud and clear.
We will see how today and tomorrow ends. Normally after a spoke the sp goes down very quickly.
Whether this is different only time will tell. I have great respect for KDIX - he is in the know - but based on past history caution must be exercised.
Here we go again . People talking up this shareβ¦.
Not a deramper but weβve heard it all before . Tread very cautiously if investing in here is my advice. Worth a speculative punt β¦
5# no way ππππ
Yes i do like the new licence opp and see a multi-bagger EGT is also close to buying a mine in Europe so that why i am in both can do a HEX
Pet is much better 5X potential on licencing update.
David6576 I have bought PET and EGT Multi-bagger potential
Both legs in 3p, could be a strong close
Lovely morning should rally towards close
It has been NT for a long time. Big orders are being filled up for a reason.
Kdix - but this is all speculative - so far the only things that are confirmed are;
PET put forward a PROPOSAL not a BID back in Q3'23
PET fronted that PROPOSAL not any partner such as Itochu (else it would have stated this in the RNS)
PET do not have the financing to put forward a BID
Big buys are great confidence and investors snapping up any small dip. The bid looks very strong now with a tiny market cap.
Indeed beetroot.
There's no way that Petrel hasn't been planning for the funding requirements of a future licencing round.
Indeed they've been preparing for this for years.
Back in the Sept 2021 interims, there was an innocuous highlighted point stating:
"Shareholder base broadened, to prepare for expansion".
I asked DH what this meant. His reply:
" We have been meeting and presenting to institutional and semi-state shareholders willing to back longer-term, capital intensive projects in the Middle East and elsewhere".
(A semi-state company in the Republic of Ireland is effectively a state owned entity)
Later, in June 2023, this 'Future'Γ looking statement was in the AR:
"Petrel is confident that necessary funding will be available for sound Iraqi and Ghanaian projects".
I asked DH: "
Qn: Is Itochu still a potential sugar daddy in respect of future funding?
DH reply: "Yes".
(This was the third time in 3 years he's confirmed Itochu are still available)
Given that PET cannot do this alone and would only be able to participate as a consortium - it is also therefore possible that another party to the consortium, such as Ithochu, is fronting the bid, both in terms of submission, and payment of the fee.
Just a start with 5X potential with a milestone licence update which is any time now.