Tag Archives | Ireland

Iraq "the Biggest Commercial Opportunity in Petroleum Today"

By John Lee. Petrel Resources has said that "Iraq remains the biggest commercial opportunity in petroleum today." In the company's Interim Statement to the markets on Wednesday, Chairman David Horgan added: "The geology is unsurpassed.  The oil market is sharply recovering.  But contracts must be updated for effective exploration and development." "The focus is once […]

Engineers Still Held Without Charge in Iraq

By John Lee. Australian citizen Robert Pether and his Egyptian colleague Khalid Radwan are reportedly still being held without charge in Iraq, following a contract dispute relating to the construction of the new Central Bank of Iraq (CBI) head office in Baghdad. The pair were detained in early April, having allegedly been tricked into traveling […]

Petrel Resources' Focus will be Iraq

By John Lee. In its preliminary results for the year ended 31st December 2020, Petrel Resources made the following statement on its interests in Iraq: "Meanwhile Petrel continues to push its interest in Iraq and Ghana. For the foreseeable future oil will play a major part in world economic development. "Iraq has some of the […]

Foreign Engineers Detained "in Solitary Confinement" in Iraq

By John Lee. An Australian engineer and his Egyptian manager have reportedly been held without charge, and in solitary confinement, in Iraq for the past three weeks. Robert Pether, who lives in Ireland, is said to have been called to Iraq to discuss a dispute between his employer, UAE-based EKO Engineering Arabia, and the company's […]

Petrel Resources updates on Iraq Interests

By John Lee. In its financial results for the six months ended 30th June 2020, Petrel Resources made the following statement on its interests in Iraq: "Petrel is active once more in Iraq after a hiatus since 2010 due to political and financial instability. We negotiated a large exploration block, Block 6, in the Western […]

Iraq "The Best Place on Earth to find and Produce Oil"

By John Lee. Petrel Resources has said that its operations in Iraq, which had been dormant for some time, are "once again showing life". In its Preliminary Results for the Year Ended 31/12/19, the company said: "Our Iraqi, director, Riadh, is actively promoting our ongoing interest in participating in the development of the many oil […]

Petrel Raises Capital to pursue Iraq Prospects

By John Lee. Petrel Resources Plc (Lon: PET) has announce that the company has arranged a placing with ETX Capital to raise £250,000 (before expenses) via the issue of 7,692,308 new ordinary shares (the "Placing Shares") at a placing price of 3.25p per Placing Share. Subject to the appointment of responsible officials by the new […]

Petrel Resources considers Opportunities in Iraq

By John Lee. Petrel Resources has announced that it is interested in the 'fresh opportunities' in Iraq thrown up by the turbulent oil price and political events of recent months. In a statement, the company said that its Iraqi Director, Riadh Ani, is coordinating discussions with the Ministry of Oil in Baghdad to take advantage […]

Petrel Resources eyes Opportunities in Iraq

By John Lee. Irish-based Petrel Resources has said that one of its main priorities has been re-building its presence in Iraq. In its financial results for the six months ended 30th June 2019, the company said: "While challenges remain, the Iraqi government encourages international investors with Iraqi operating experience.  The security situation has dramatically improved […]

Petrel: "Interest is Reviving in Iraq"

By John Lee. In its preliminary results for 2018, Petrel Resources gave the following update on its activities in Iraq: We had high hopes of commercial success in Iraq. It has the best oil geology on the planet with drilling success over 90% and a $2 to 4 a barrel production cost. But the political […]

Petrel Resources "Renewing Connections" in Iraq

By John Lee. Petrel Resources has announced the appointment of Riadh Hameed as Non-Executive Director with immediate effect. Riadh Mahmoud Hameed (aged 38) is a quality control engineer working for an aerospace component company based in the USA.   Prior experience has included over a decade of working in the oil and gas sector, to include […]