Petrel Resources
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MFG
Chali
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Wertpapier: Petrel Resources |
Lol den Irak werden sie nicht erobern das mir auch klar !
Was mit Subba & Luhais ist ??? keine Ahnung!
Was in diversen Foren diskutiert wird oder geschrieben wird kommentiere ich net.
Leider ist die Nachriechtenlage etwas dünn aber mal abwarten,diverse Risiken habe ich bei allen Naja Explorern oder Minenaktien oder wie auch immer.
Mal gugen wies in ein paar Monaten aussieht mit Petrel
LG
tomsch
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blieben aus......Der Aktiekurs bewegt sich auch net????????????????????????????????????????
Immer "Times&Sales" im Auge behalten^^
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Petrel Resources PLC
17 June 2009
17th June 2009
Petrel Resources PLC
Statement Accompanying the Preliminary Results
for the Year Ended December 31 2008
Petrel has been active in Iraq for ten years. During that time, there have been
a number of economic and political upheavals in the country, the area and in the
wider world, but the events of the past eighteen months challenge even hardened
optimists. Not only has Petrel faced ongoing civil strife in Iraq, continued
legal uncertainty in the country, world markets where investors totally deserted
small capital stocks, but we have not been paid for the work done on our large
Subba and Luhais contract.
Since signing the US$197 million contract in 2005 and receiving US$20 million
advance into a JV account from the Iraqi authorities, Petrel has completed
approximately 50% of the project work. The work has been approved by the
authorities. We have billed US$54 million against the project Letter of Credit,
but the funds have not been disbursed. Protracted discussions have been ongoing
for sixteen months. Agreements have been reached, the latest in March 2009,
where payments are promised but to no avail. With extreme reluctance, we put
the Subba and Luhais project on care and maintenance in October 2008, and
temporarily disbanded a world class technical team.
What is frustrating is that solutions have been negotiated and agreed by both
sides but not implemented. Petrel has proposed to the authorities that we are
happy not to take payment in cash. Instead, we could take over operatorship of
the field, complete the development ourselves, and take payment in the form of
oil. This proposal is well received in certain circles, but the lack of a
Hydrocarbon Law makes it difficult to implement.
It is difficult to convey to shareholders to understand the current position in
Iraq. The turmoil and chaos of the past six years has impacted on almost all
administrative structures. The civil service, oil ministry and banking system
have all seen significant changes in personnel. Political changes have further
impacted on staff and policy. The Iraqi environment of 2008 / 2009 differs
starkly from that of 2004 / 2005, when we tendered for, and won, the contract.
Our strategy has been to complete the development of Subba and Luhais as a first
step to building an Iraqi oil company. We continue to explore every avenue to
reach a settlement, but Petrel, and our contractors must either be paid or the
contract must be changed, so that Petrel can take oil as payment. The agreements
of September 2008 and March 2009 were comprehensive, covering payment, revisions
to work programmes and rapid remobilisation. We are working assiduously to have
the agreement implemented.
The impasse on Subba and Luhais is affecting our other operations in Iraq. In
the past year, we have completed our work on the Merjan field, confirmed an
agreement on Dhufriya, and maintained our interest in Block 6 in the
Western Desert. The Merjan study was joint ventured with Itochu of Japan, one of
the largest Asian conglomerates. All existing data was reviewed and analysed,
and development proposals prepared. We have indicated to the authorities that we
would develop Merjan. We completed documentation on Dhufriya during 2008. We
have received all available seismic and geological information. It is with our
team in Amman. Progress is on hold pending a solution to the payment problem.
We have been in the Western Desert of Iraq since 2000, when we were invited to
study Block 6, a 10,000 square kilometre block, which had little prior
exploration. We spent two years analysing all available data and conducting work
on adjacent blocks, particularly in Jordan. We reached agreement on terms in
2002, but the final documents were not signed. The Ministry of Oil is aware of
our status in relation to Block 6. We are hopeful that we will be awarded title
when the Hydrocarbon Law is passed. We have an agreed work programme, which
involves seismic and wells. We have a seismic team ready to move on short
notice, but prior to commencing work, we would need title and confidence that
agreements will be honoured.
Apart from Iraq, we are active in Jordan on the East Safawi block. Intensive
work done by Petrel in recent years has identified drillable targets. This is a
"frontier" area in terms of oil discoveries, so we prefer to joint venture the
risk. Extensive discussions with a multinational came to nothing, while
negotiations are ongoing with experienced Middle East corporates.
Finance
The US$20 million received by the joint venture from the Iraqi authorities on
the commencement of the Subba and Luhais contract funded operations for some
time, but as outlined above, completing almost 50% of a US$197 million contract
is costly. All of the sums due are covered by the Project Letter of Credit. The
net amount immediately due to Petrel is US$8 million. We have stopped work and
cut expenditure.
In March of this year, a long standing institutional shareholder offered
funding. Two other investors agreed to participate in the placing and US$3
million was raised at a price close to that prevailing in the market.
This money will keep Petrel going for the next eighteen months.
Future
We want to stay in Iraq. We want to be part of the oil industry development. We
want to do this as a principal, not a contractor.
The opportunity in Iraqi oil has not changed. Oil costs US$2 a barrel to
produce. There are over 70 known fields waiting to be developed. It makes
absolutely no sense that oil production in Iraq is falling to less than 2.4
million barrels a day when it can rise to 10 million barrels a day. Iraq badly
needs the revenue and the world needs the oil.
It is the potential which keeps Petrel in Iraq. The political, legal
administrative and banking uncertainty will, and must, clarify. We believe that
we can work through the labyrinth of Baghdad, get paid, and deliver a 200,000
barrel a day oil field to the people of Iraq.
John Teeling
Chairman
17th June 2009
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MFG
Chali
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würde mal zeit das der abwärtstrend mal bricht
halte 30 cent derzeit trotzdem noch für erreichbar
gemessen am heutigen kurs wären das ja immerhin noch 50%
Petrel Resources PLC
12 November 2012
Petrel Resources plc
("Petrel" or the "Company")
Technical Update on Irish Atlantic Margin Prospects
& Participation in the Atlantic Ireland 2012 Conference, Dublin
Highlights:
· Detailed modeling has outlined a one billion barrel potential on Quad 35; part of our 11/4 Licencing Option.
· Targets are accessible with one well (i.e. vertically stacked targets) having been mapped at several levels.
· Petrel has mapped closure at its Quad 45 prospects against a major boundary fault and outlined a number of vertically stacked targets.
Petrel Resources (AIM: PET) today provides a technical update on work done on its 100 per cent owned Quad 35 Licensing Options (11/4 and 11/6) on Blocks 35/23, 35/24 and the western half of 35/25, and Quad 45 Blocks 45/6, 45/11 and 45/16 in the Atlantic Margin. These are located in the highly prospective South Porcupine Basin, in the Irish Atlantic Margin.
These blocks cover approximately 1,400 kilometres squared in total, in the northern and eastern sections of the Porcupine Basin.
David Horgan, Managing Director of Petrel, commented: "We have long known that Ireland's offshore Porcupine Basin is a hydrocarbon province. There are established petroleum systems, reservoir sands and possible traps at several levels. Our recent work has identified a number of high-potential prospects, at least one of which, we believe, has a billion barrel potential.
"Petrel will be presenting technical details of its work to date at the Atlantic Ireland Conference 2012, Dublin on Monday 12th November 2012."
Quad 35: Stacked targets have been mapped at Eocene (Lower Tertiary), Lower Cretaceous and locally Jurassic levels. This facilitates drilling and testing of several targets with one well.
Eocene Target
• The Eocene deltaic sand bodies lie in an ideal position for the entrapment of northward migrating hydrocarbons, generated from mature Middle / Upper Jurassic and possibly Lower Cretaceous source rocks.
• Updip seal is provided by marine flooding mudstone deposits.
• Drill depths to the top of the Eocene sand sequence are about 2,500 metres subsea, in water depths of 700-800 metre.
• Thick reservoir quality deltaic and shallow marine sandstones have been drilled in earlier wells in the region.
• The mapped sandbodies have the capability to host in-place reserves in excess of one billion barrels
Lower Cretaceous Target
• A large mounded feature with four-way dip closure is onlapped by mud-prone seismic facies. It is interpreted as a basin floor fan deposit, infilling and mounding residual Late Jurassic topography.
• The structure is undrilled but the seismic signature is significantly different from the mud-prone Lower Cretaceous strata drilled within the basin.
• The large mounded feature directly overlies Upper Jurassic strata with proven mature source rocks.
Quad 45: Stacked targets have also been mapped at Lower Tertiary and Lower Cretaceous levels:
• Substantial area of structural closure forming a trap at Lower Cretaceous level against the major basin boundary fault.
• Early Tertiary eastward updip thinning and stratigraphic pinchout of interpreted sand-prone succession.
• Mounded, prograding Aptian-Albian basin-edge fan with updip shale drape / trap.
• Basal Cretaceous target horizons pinch out through onlap onto the basin margin.
• Drill depths of up to 3,000 metres to the Lower Cretaceous marker in approximately 1,000 m water depth.
• Thick untested reservoirs derived from an easterly source (i.e. Celtic Platform).
These results are derived from Petrel's extensive database and updated in the following work programme, which has advanced rapidly in recent months:
• Purchase of additional 2D seismic lines and re-interpretation of the integrated data set across both option areas.
• Purchase of 3D seismic data, which is now being interpreted. The 1999-2005 survey covers only the eastern portion of the Quad 35 blocks.
• Petrophysical appraisal of 17 wells.
• Inversion of selected 2D seismic lines to assess targeted reservoir sections.
• Petrel Resources is funding two MSc research students at the UCD School of Geological Sciences at University College Dublin.
o A seismic project to detail the depositional facies and character of the identified sand bodies and potential reservoirs.
o A study of the provenance of the reservoir successions using petrographic analysis, followed by the application of the Lead-in-feldspar technique.
Next steps will include:
• Completion of acoustic inversion of selected lines to assist in the assessment of the targeted reservoir sections.
• Completion of the 3D seismic data interpretation in the south-east part of Quad 35.
• A seismic / sequence stratigraphic project is underway to characterise the depositional facies of the Lower Tertiary and Lower Cretaceous successions in the option blocks.
• A provenance study, involving petrographic analysis and the application of Lead-in-Potassium-feldspar geochemistry of the Lower Tertiary and Lower Cretaceous successions is underway.
Petrel Resources is a diversified oil and gas exploration and production company, with interests in Ghana, Ireland and Iraq. The company has a signed petroleum agreement in Ghana, holds two licences in offshore Ireland and recently completed an exploration and production joint venture contract in Iraq.
Enquiries:
Petrel Resources Plc
David Horgan, Managing Director
+353 (0)87 292 3500
John Teeling
+353 (0)1 833 2833
Northland Capital Partners Limited
John Henry-Wickes / Alice Lane
Gavin Burnell
+44 (0)20 7796 8800
Blythe Weigh Communications
+44 (0) 20 7138 3204
Tim Blythe
+44 (0) 781 692 4626
Robert Kellner
+44 (0) 7800 554 377
Pembroke Communications
David O'Siochain
+353 (0) 1 649 6486
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wenn an diesen gerücht irgendwas dran sein sollte, sind kurse von 100-200gbp mehr als realistisch sein
Excited punters stampeded into highly speculative Petrel Resources after it announced a target off Ireland’s West Coast contained a billion barrels of potential oil.
The target in the South Porcupine Basin of the Irish Atlantic Margin is located on a licensing option 100 per cent-owned by Petrel.
News of the ‘find’ and talk of a possible ‘farm in’ by an oil major, possibly Exxon, helped the stock more-than-treble and close 21.12p higher at 27.12p.
http://www.thisismoney.co.uk/money/markets/article-2231913/M…
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Aber auch Glückwunsch an diejenigen die früh rein sind
... die Charts von Intertainment und Petrel vergleichen. Beide lustigerweise von paradiso/USCHI beworben, und beide lustigerweise mit leicht versetztem extremem Hochkaufen, Abfall und erneutem Hochkaufen. Mag ja sein, dass das den ein oder anderen interessiert.
http://www.onvista.de/aktien/....html?ID_OSI=82549&PERIOD=4#chart
http://www.onvista.de/aktien/...html?ID_OSI=191159&PERIOD=4#chart
danke für die werbung
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