"Petrel Resources has been awarded two new Licencing Options in the Porcupine Basin, offshore Ireland.... The options are valid for two years and can be converted into Frontier Exploration Licences... The award of these two licence options is a positive development for Petrel Resources. The Company had focused on seeking prospective areas in reasonable water depths close to existing discoveries making these licence options interesting targets for the Company."
Pet & Clon are rising on speculation for the ratification of the Tano License in Ghana.
If approved, the impact on Pet & Clon will be very significant.
The block is next to Tullow's Jubilee field,and is one of the hottest oil exploration spots around.
My research strongly suggests a favourable outcome and I have positioned myself accordingly some months ago in Clon,as it is more highly geared to the Tano license than Pet.
* Bookmark the links if you wish to 'pass the LINK/s on'.... or read later?
Deramping SHORTERS !
Shorting a rising stock....is much worse when it is done by your resident posters that seemingly are your buddies and convince 'long' holders to give up!
What many pi's fail to grasp is the extent that shorting is taking place. Often we tend to think that the 'shorter' is gone, 'he' is out of the way? You'd be wrong in most cases, for ( he ), the shorter, is often joined by others that keep the stock down !
Some stocks fall after GOOD NEWS!
Shorting or normal profit taking?
The main reason for many pi's selling, is they are afraid they'll be left in losses AND because of the fear of shorters !
Consolidating shares often sees the sp fall as the multi-bagger potential is greatly reduced. Shorters know this and 'get their digs in' with a distinct advantage
Quindell has consolidated 15 for 1 and guess what? The shares are tanking! Probably being shorted again and not just by the professionals. Ordinary investors are having a go as well (if you can't beat 'em....?).
BUT, where does that leave the genuine investor that has put stocks like QPP into their pension funds?...holding losses again!
* Once pi's know the stock is being shorted...they'll SELL UP IN THEIR DROVES !
We can't both WIN !
The 'shorts' therefore 'win' their bets, whereas the 'longs' lose the best part of their investment, possibly for some time to come......and just when you thought this couldn't go any lower, THEY'LL SHORT THE STOCK AGAIN !
* Thanks for all your support. We are now heading towards 5,000 votes!
* Investors are saying something? They are voting in their hundreds !
# The big problem with shorting is that THEY (the shorters) WOULD most likely lose most of their money IF they just 'bet' on the price going down without trying to 'help' it down?
'Catch 22' .... No one would know of an RNS to be released that will contain BAD NEWS, if they did and then 'shorted' the stock, then they are guilty of 'insider trading'.
The only sure way to short a stock and WIN is to spread dis-information to defame the company with help from other posters that are in concert with them. To ENSURE that they don't lose the biggest part of their 'short', ironically, then, they must deramp with (seemingly) believable posts.
* When the pro's do it, they simply get the media or well known 'crooked' tipsters, analysts or brokers to do it for them. (say no more).
# The campaign against shorting is for the benefit of the 'cheated' investors that cannot control their investments due to the dirty tricks played out by co-ordinated shorting !
The results will be reviewed by Govt legislators for further action! The FCA will be asked by Davide Serra to conduct an investigation into short selling practices, with the view to either ban short selling, or to be better regulated !
Petrel the nearly but never stock....has been floating around Iraq since Saddam Hussein's days. I was in these when heavily ramped to over 130p. I'm sure they only exist on investors gullibility and promises of license deals, but worth a quick punt for 3p upsides. Don't expect PET to be the next GKP, imo
Thanks to all those that have supported this campaign
Campaign to make short-selling illegal (or better regulated?)
It is estimated that over 90% of AIM stocks are INFECTED by short-sellers !
Many highly popular stocks are going down even on GOOD NEWS !
# IF you were a short-seller, BLUFFING, (basically manipulating a shares' price) about a company's overvalued share price, you might not want to *draw attention to yourself since you could get accused of stock manipulation. So you would hope (OR PLAN FOR) others to get involved and to present SEEMINGLY GOOD REASONS to short the stock.
You would want to put AS MUCH FEAR INTO 'LONGS' as possible and would use high volume short trading as well as buying to drive the share price down as low as you can and as long as you can. You really want the longs to fold and to get out of the game. If you are consistently seeing sellers overwhelming buyers driving a share price down as a stock seems to be going up, I can assure you it's probably shorts' selling, since longs are totally motivated to sell their shares at the highest possible selling price. #
IT is easier to tank a share price, rather than make it go UP, by short-selling.
RUINOUS to genuine investors.
They may be able to buy in cheap BUT what's the good, if the stock never really recovers?
AND when they have got you all hooked on the 'lovely' new all-time LOW.....They'll SHORT IT AGAIN !
# ChalieHarper - posted on iii - TRP
IF a fund owns a large share holding in a firm and is long.... whilst waiting for its end game to materialise, it loans out any number of its shares to a shorter...the shorter then manipulate the share price down making £X amount when short ended.... the shorter then gives the loaned shares back and splits the proceeds 50/50.
They both make cash, probably during a time when not much is happening with the sp. IT's a WIN-WIN for them but BAD news for the pi's who as usual may have sold at a loss because the cash has to come from somewhere. #
# Topalov asks on iii Ariana Res-AAU
(to give balance to this debate, i have included his response and Q.s with my reply)
Madinat us Salaam 10 Aug'13 - 14:51 - 1348 of 1352 0 0
The imminent deal that Petrel are about to sign is genuine. My information from people at a certain province have confirmed it. Importantly, the ministry isn't interfering with any deals (not only oil.gas) that are thrashed out at Provincial/Governorate level. The provincial law (effective June) has now allowed provinces to devise their own deals - giving them greater autonomy.
I am trying to find out which Iraqi company Petrel have struck the deal with. The province in question is I believe Basrah. Petrel have done very well to finally get something in Iraq, especially with a company that does have quite lucrative licenses in the south. This Iraqi company is keen to diversify and liked Petrel's other ventures, especially the Irish JV with Woodside. One of the objectives is, I'm told, is to use Petrel to venture into the MENA region to explore for gas/oi.
As it's Eid I am unable to make contact with the officials I have good comms. Hopefully next week I'll see what I can get from them.
Munna Bhai MBBS
10 Aug'13 - 18:28 - 210 of 344 1 0
Just been told about madinat's post. It's very true. I found about it a week ago from Iraqi contacts that used to give me all the info I posted on here in the past.
By the way, my long talks with Teeling at the time he was taking action against me, were pretty fruitful. He admitted to me that he (and the directors) were amazed at how much of the info I posted was so correct, many a time posting details even before they knew about it. The directors actually felt I was an insider at the Iraqi ministry. I did however tell him I was not, and also explained to him who was passing the info on to me.
Anyway, wont be posting much, just wanted to make a point that Petrel have, after so many years, clinched a very important deal in Iraq. For a small company like Petrel, it is quite an achievement. I suspect it will be a model deal that will be followed by many others.
I know I was scathing about the directors going after licenses in the same league as the majors, however I am not shying away in admitting that they have really come up trumps with this Iraqi JV/deal. I would say it's absolutely transformational. And this time round, Sharistani and his cronies can do nothing about it. The regional provinces holds all the powers with respect to provincial deals - it's enshrined in the new provisional laws.
(yes I am the same munna bhai - I will stick to my promise of not posting anything derogative or libelous against Dr Teeling, any directors or any of the companies he is associated with - I promised him that and I will keep to that promise)
The Board of Petrel (AIM: PET) is pleased to announce that negotiations on a potential Iraqi investment are at an advanced stage whereby a private company with extensive hydrocarbon interests in Iraq would inject an asset into Petrel in return for a minority shareholding in Petrel as well as board representation.
Benefits of small cap oil explorers tie up with Aussie firm to become clear
Petrel Resources chartIrish oil firm Petrel Resources (PET:AIM) should be rerated as further details emerge about its farm-out deal with Aussie business Woodside Petroleum (WPL:ASX). The small cap explorer has hardly moved since the tie-up was announced last month (28 Jun).
Petrels chief executive officer David Horgan has told Shares that both parties have kept a lid on the contents of the agreement, covering its two licensing options in the Porcupine basin offshore Ireland. The details will stay under wraps until a work programme has been agreed with the Irish authorities.
"Consensus only consists of the house view but nonetheless we would buy at 14.5p."
What has been revealed is that Woodside will take an 85% interest in the assets. Another deal in the Porcupine basin was concluded between Europa Oil & Gas (EOG:AIM) and US firm Kosmos Energy (KOS:NYSE) in April. Again it saw the larger company snap up an 85% stake in two licensing options. In return it agreed to carry Europa through a $200 million work programme, implying a value of £18.8 million for its remaining 15% stake according to broker Northland Capital. By point of comparison Petrels current market cap is £11.1 million.
In the near-term Petrel may also see some tangential benefit from the results of drilling on the large wild cat prospect Dunquin, which is also located in the Porcupine basin. A well spudded in April targeting up to 8.4 trillion cubic feet of gas and 316 million barrels of associated liquids is being drilled by a consortium which includes ExxonMobil (XOM:NYSE) and Providence Resources (PVR:AIM).
Unfortunately I pretty much completely agree with at least the sentiment of what you believe the terms of this farmout to be. Before anyone invests in this co. I'd strongly encourage them to do some background research on the directors and ALL their associated co.s (both current and historical). I had invested a few grand in another one of their ventures: Clontarf Energy (luckily however through personal circumstance I had to withdraw it all and didn't lose any money to speak of - bought originally at around 4p/ 5p............look at it now......& look back at the promises made & the relatively recent RNS re 'farmout' - absolute joke).
The trend with all these John Teeling, David Horgan et al co.s seems to be the following: promise their shareholders the earth & sell their 'blue sky' strategy for what appears to be very interesting & exciting projects with strong opportunity to make money. However after publishing & talking up their various co.'s strategies for exploration in certain key exciting high yield prospective regions around the world; these seem to have a strange habit of never materialising and or completely changing...... Strategies seem to change regularly & nothing actually progresses. Or rather, those that do progress, do so in with terrible terms & in no way whatsoever how the shareholders were promised & the 'grand master plan was sold to them; making it IMO highly unlikely for the PIs to make a return on their investment. Have a look through their co.s' RNS' - mostly meaningless & the supposed 'positive' ones containing little to no actual information. As Queensgambit alluded to in Petrel's farmout RNS - what are the actual terms?????
Now before anyone accuses me - I'm absolutely NOT a basher as I was previously a holder of both Clontarf Energy and until very recently Petrel. I admit I bought without doing as much research as I should have done but luckily sold out of both without losing money. I'd strongly encourage all current investors and people thinking of investing to do some proper research into their various co.s including Pan Andean, Clontarf Energy. IMO these co.s are simply 'shells' from which the directors are guaranteed winners whilst us poor PIs IMO do not stand much (if any) chance of making a return. This is all simply my own opinion though so DYOR......
By Jamie Ashcroft April 18 2013, 7:37am The deal comes as preparations are underway for the start of drilling on the ExxonMobil led Dunquin exploration well nearby
Europa Oil & Gas (LON:EOG) has struck an important farm-out deal with US oil firm Kosmos Energy for its two assets in the South Porcupine basin, offshore Ireland.
Kosmos is acquiring an 85% stake in the venture by covering the cost of a 3D seismic programme on each of the two licences, and it will also pay a proportionate amount of Europas back costs.
It is also committing to cover all the costs of two explorations wells, one on each licence this is capped at a combined US$200mln.
"We are very pleased to have secured a respected leading independent such as Kosmos as a farm-in partner and operator for our Irish Licences, said chief executive Hugh Mackay.
Kosmos are a highly experienced operator in frontier basins and pioneered the Cretaceous stratigraphic play that has resulted in significant exploration success in the Atlantic margin basins.
We look forward to working with Kosmos and their involvement is a highly significant first step towards realising the potential value of our exciting prospects in a new hydrocarbon play located in an essentially undrilled basin offshore Ireland.
"The farm-in provides recognition of the substantial potential value lying in our Irish exploration prospects. The work programme associated with the farm-in has the potential to deliver significant value realisation. Europa's retained 15% interest exposes the company to substantial upside in the event of drilling success at either or both of these prospects at a much reduced risk and cost to our shareholders.
The deal comes as preparations are underway for the start of drilling on the ExxonMobil led Dunquin exploration well nearby, AIM quoted Providence Resources (LON:PVR) is also involved in this programme.
Deal EOG at Proactiveinvestors preferred broker Losses can exceed your initial deposit
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