Post from ADVFN board22 Dec 2019 13:20
Great post from moneyintransit on PET proboard... What a mind-blowing EGM it was - still reflecting on all the overwhelming information we heard. Already swapped yesterday my few Botswana Diamonds (my only other share) for Petrel, as for me there can be no possible doubt left at all that my money is now much better off in Petrel. 1* Tamraz/Netoil has committed to bring in MULTIPLE “extremely big” Assets, step-by-step. Mr Tamraz mentioned they were looking at Upstream, Downstream, a Pipeline and Natural Resources. 2* So far these Assets were held privately, but Tamraz/Netoil have decided the time has come to go Public – via Petrel. 3* They already have persons with special expertise on e.g. China and Russia standing by, to be added to the Board when the deal is realized, meaning the intention is for the new Petrel to be working world-wide. Reflecting on these combined 3 points, it looks to be a planned future strategy where the Listed company Petrel will replace very significant parts of what the private group Tamraz/Netoil is today. Meaning that Petrel will become a significant company, operating all over the world. Meaning the future share price will reflect this significance. The 51% deal must have been agreed in very short terms, certainly considering the magnitude. And it also seems that Mr Tamraz wants to have this realized in shortest terms possible. E.g. he intends to bring in the first huge Asset of minimal 100 million within 90 days, and that delay is only because of the necessary paperwork – “the Assets are ready” he emphasized. This intent for a quick process perhaps also because of his age? (79/80) Which makes me think the full process of transferring Assets could be completed in around 1 year. Which means that our shares should/will go up significantly - in steps - within that kind of timeline. Mind Blowing ??