Member Info for steward1

It'd be interesting to see if Mr & Mrs G have been adding to their holding!

Thanks lucky - have to say that my holding now is a small fraction of what I did historically hold. One day, lucky, one day!!!

I have no connection to anyone on this board and have been quiet for a very long time... the last few months have been very interesting to watch. I've never been a George fan but something has to go the way of the long-suffering shareholders soon! I'd say that it's encouraging that the mining minister isn't sitting on his hands... rumours of movements towards an EPO might not be far from the truth... the EPO could trigger interest from the big boys ... still ifs and buts... risks are high but rewards could be phenomenal.

Yes duster - I wonder if they've got some inside knowledge or influence in Ghana or Iraq that makes this a pretty safe move for them.

Glad to see the increase this morning without an RNS... I'd expect to see an RNS of some sort regarding sorting out the 2nd tranche and payment later in the week, which I reckon will give the sp a further boost. Re-stating Tamraz's intention to move assets would be a further boost plus news of the Ghana licence would see the sp rocket. The next few weeks could be life changing for folks on here - plenty of upside potential still. AIMHO.
By the way, I reckon that Tamraz has his sights set on Ghana and Iraq, and that's why he's happy to move assets to PET.

Hoping that today's court hearing re-inforces the chains on Fayad selling/disposing but also extends it to other parties, i.e. ECYM and Deutsche. Would be nice if there was also an order compelling Fayad/EYCM to restore the holding.
I'm guessing that there's an agreement between the Tamraz Group which has conditions that need to be satisfied before the 2nd tranche is paid and that Fayad is in breach. And Tamraz isn't going to hand over an asset until the majority ownership of Pet is secured. It's in all their interests to resolve this (except ECYM's, perhaps) - I'm hoping/expecting the court to be able to move this forward!
It would be very helpful if we had an official statement from Tamraz himself stating that he is committed to seeing this through... perhaps, we'll hear that in court!!

Hey Candid - I reckon that the quid pro quo for the $100m asset is the Ghana licence, which we could hear about very, very soon. It's a win/win for Pet and for Tamraz. The hold-up in the 2nd tranche, I reckon is because Tamraz and Pet found out that there was an issue with Fayad's holding... I don't think that the 2nd tranche is likely to come until the dispute between Fayad and ECYM has been sorted. No doubt Tamraz is on his back...there's that pending licence decision that they want. If the 2nd tranche isn't delivered by the time that the licence is approved, Tamraz could lose out and Pet could then turn up their noses to Tamraz getting their 51% ownership. Interesting times but I'm pretty relieved we've got this news and we'll be well into double figures tomorrow!

It is strange, mike... someone isn't playing by the rules. For me, I don't think that it's Tamraz… it would easier to sort out if it was him/them. If a 3rd party has done the dirty then it scunners Tamraz and Pet... getting to the bottom of it could be more difficult and Pet would have to be very careful about what it said to avoid accusing someone wrongly (and attracting a law suit!). I still come back to the point that there are overwhelming and compelling reasons for Tamraz to follow through on the 2nd tranche... if they're in the business of making money then this is the route to maximising their return.

shareguru - I'm of the view that there is someone in the know, in the background buying shares. If Pet and Tamraz are now sorting things out (and I believe that they will be working on it), I don't think the announcement will come until after the 5 or 6m or however many shares are bought back... and whoever is buying back those shares will want to do it cautiously (they're not going to buy them all in one day) to avoid a spike and having to buy them back at 10p, 15p, 20p, etc. I'm optimistic that we'll hear soon that it's being sorted.

Looking better - there's every reason for Tamraz to work to sort this out with the bod... those 5m shares could be getting bought back plus more. The injunction seems to have worked! Feeling relieved that I kept the faith.

CLON has taken a jump this morning... PET might not be far behind once folk clock it.
There could be life in this old dog yet!

Think about it eric - if it was a scam (i.e. someone had set out to make money illegally), why would they settle for making a few hundred thousand from the so-called scam when they could make millions from a bona fide investment in PET... it just doesn't make sense that it is a scam.

There's nothing new in that post, Cheddars, and nothing irresponsible - accepted that anything like this has to be taken with a pinch of salt.

Thanks for posting, liquid1. Whilst the confusion over the non-appearance of the 2nd tranche is unhelpful, there are overwhelming, compelling reasons for the concert party to follow through on their commitments. They're already sitting on a circa 500% increase in value of their 1st tranche and that could be multiplied if recent highs are hit again. It's a no-brainer to follow on with the 2nd tranche.
To my mind, it's clear that there are those who want to generate volatility in this share to short and to buy back and, who knows, there are probably some shenanigans going on. I reckon that we could just as easily see 25p again as we could see 1p! I sit on the side of the fence that thinks that there's a reasonable explanation and that we'll see the sp rocket again. aimho of course.

I'll leave you with the last word, Massive... it's clearly important to you so when you insult me again, I promise not to respond!

Massive... and being swayed by a telephone operator and posting it on here is of substance????

Onassis - the article is 25 years old... you are aware of that, aren't you?

Massive - it's someone who is paid to answer a phone, not a member of the BOD... she could be a temp, in for the day, for all you know! Get a grip, man!

Good on you for calling the office, Massive, but sounds like you're getting way ahead of yourself. It would be very unlikely that you would get anything out of a phone call - market rules, etc.

Clearly something hasn't gone to plan here. We don't know who sold the shares yet, if indeed it was one of the concert party (could they have loaned them out?). The deal terms do state that they could be sold in the event of a significant transaction - has one of the concert party assumed that the significant transaction has taken place?
And we don't know for certain why there is a delay in the payment for the 2nd tranche - given that it's a concert party, could one of the members of that group have misunderstood the deal? Perhaps, one or more of the concert party has fallen out with one of the others - who knows!! Everything is speculation.

It doesn't look good because David Horgan's popped out of the office until 2:30pm?????????

My investment criteria will clearly need to be reviewed to include whether chairmen/ceo's pop out of the office!!!