News from Iraq looking promising25 Sep 2023 13:44
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