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Ceasar
PET don't need to find oil now as oil is there,
this could do 10 Bagger on the License and drill news alone.
ten on oil find this could do further 30 bagger
the reason I say this it's because Iraq Merjan oil field has billions barrels of oil in the ground.
market will wake up soon
What do we reckon the share price would be if, indeed, Pet found oil?
PET directors should be delighted to hear that iraq is a good time to invest in...... billions dollars worth of oil discovered in Merjan oil field in Iraq.
Petral Resources could become mid tier company with the right partnership.
GLA and Dyor before its too late
Iraq finally opened its doors to Europe for investors!!
Iraq to award Akkas gas field to Ukrainian firm: Official
26 September, 2023
Source: IranOilGas.com
The Undersecretary of Extraction at Iraq Oil Ministry Bassim Khudair, announced on Monday: “The Oil Ministry will announce in the coming days the award of a contract to develop the Akkas gas field in west of Ramadi to a Ukrainian company. The goal of investing and developing this field is to reach a production capacity of up to 400 mcf/d,” reported the Iraq’s Alforat News Agency.
He went on to say that last month two firms from Ukraine and Armenia were vying for the Akkas contract. But he did not name the two companies.
Anyone thinks Iraq is same as its been in the 10 years should do some research.
Https://www.iraqinews.com/iraq/iraqi-fm-discusses-bilateral-ties-with-uk/
PET could be bottom of huge potential here.
Iraq opened its doors to Europe
mega rise will certainly be coming soon
A couple of Irish tinkers taking a punt. Fingers crossed.
Heard it all before. 30 years later.
Petrel Resources plc (AIM: PET) today announces unaudited financial results for the six months ended 30th June 2023.
Petrel is a hydrocarbon explorer with interests in Iraq, and Ghana.
Highlights
• Petrel has fine-tuned its Iraqi proposals, following feedback. We have contractors and suppliers identified but seek improved fiscal terms to attract partners.
• An updated Merjan oil field development proposal has been submitted to the Ministry with a view to finalising a licence agreement.
• Iraqi oil output fell to 4.2 million barrels daily in July 2023, in line with OPEC+ output cut agreements. Iraqi potential is substantially higher, while infrastructural issues are being addressed.
Iraq opening up to European markets for oil/Gas investment
Petrel Resources should be on the list.
big news on the way
https://www.google.com/amp/s/www.zawya.com/en/projects/oil-and-gas/iraq-to-award-gas-field-to-ukrainian-firm-h1zrasmw%3famp=1
https://www.iraqinews.com/iraq/iraq-may-pass-new-law-permitting-foreign-firms-to-own-oil/
join the dots........
I am a holder.
Will believe it when I see/ hear it …. Heard this news some 25/ 30 years ago after the invasion …. Wouldn’t hold my breath…..! GLA holders. But don’t be sucked it. What really can PET achieve they are not producers just an exploration co.
Petral Resources could be next on the green light
10 Bagger on news
https://www.zawya.com/en/projects/oil-and-gas/iraq-to-award-gas-field-to-ukrainian-firm-h1zrasmw?amp=1
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.