The tiny Irish stock on the brink of landing 'the first' post-sanction oil deal in Iraq. Ref 'Fleet Street Letter' 12-04-04..

No sign of the RNS today. Usually about 7.30 from PET, as per prev posts. Still only 15 days left in Nov now ha ha!!!!!!!!!!!!!! got to have a sense of humour on this one, only if it keeps me sane!

Some RNS's in the past have been released at 5.30pm, so we still have the rest of the day as well as the rest of the month, so hold tight guys!!!!!!

Tokyo, I'm still feeling confident that things haven't fallen away to the 80p level, so any thoughts on that line.

watcher.

Waiting for an RNS from PET is more exciting than waiting for x-mas. PET should have has their own advent calendar designed, so that we could have opened a window everyday, until the day of the announcement!!!!

good to be in now, cause if that RNS comes in close the Sp will open a lot higher in the morning! cant help feeling excited at the prospect!!!!!!

Tokyo, I see SCP is ramping away but not entirely surprised that theres sweet ba in the Mail today.
Have doubts about credibility there.
Can you vouch pls?

Watcher - Download the 2004 slides from the website, I've been reading through these today and I'm very happy about the information on there. I think most people holding now are not going to be scared by little penny drops. On slide 11 PET say

- Detailed discussions now addressing inconsistencies and trade-offs

- Contracts expected to be awarded by end November


I think again most people will be holding onto these until atleast the end of November, so we won't see a drop to 80 pence level, the MM's tried to drop it to 1 pound yesterday and it just sparked alot of buying. If the contracts are not awarded by the end of November, then we may see some panic selling, but my advice to all of you, is download the slides from the investor relations section of the PET website, and you'll all see why I'm still confident enough to be holding my shares.


Tokyo

this has just been put up on another bb

Just had a very interesting conversation with Geoff Foster who has confirmed to me that a very reliable source told him that the deal was going to be announced today. His source has told him that, as it stands at the moment, at least one contract has definitely been signed and sealed and that it was in the hands of the PR department to deal with the announcement. Very friendly and informative guy.

Alright being a little untrusting of e-mails and telephone calls since gingermagicans fake e-mail last week I can confirm that (a) Geoff foster did indeed say the above, and mentions that it is indeed just a matter of waiting it out in his opinion,perhaps for PET to get the 2nd contract, he also mentioned many oil firms are trying to get into Iraq yet PET are already there, and (b) Yes he is a friendly and informative chap, he seemed a little surprised to be getting a phone call from Japan but was very forthcoming with what he had heard.

anyone who wants to ring him the number is 020 79386000 Geoff Foster

Good luck all

Tokyo

Tokyo

Blast! Meant to put that money into paying for my Whistler condo. for Xmas and a CFD in ASOS - what happens, I read the posts here and put it on 3937 PET at 104p. No self control whatsoever!

Could you post the address of the PET website please? On timing, I notice that Ramadan starts this Friday which is presumably why they are trying to knock out Fallujah this week. I know from an earlier post the suggestion that Ramadan does not have much effect in Iraq. Nevertheless, I suspect it provides a deadline just as, say, Xmas holidays would here. Anyway, there is a window through Thursday where it would be good to get this announcement out of the way. It had better get itself announced because otherwise I will be unable to prevent myself from investing the other funds I am raising today!

Eric

Eric, You mean the website address?
see below

http://www.petrelresources.com/_latestNews/latestNews.shtml


tokyo

I appreciate Eric's loss of self control. I've topped up again at 104p.

Great to be in bed (sorry, I meant 'in tune'!) with the birthday girl!

Eric

Guys, I hold some PET shares and like the rest of you I am holding out for more favourable winds.

I am buying through a stockbroker by phone but would prefer to have more freedom by trading online. Can any of you recommend any online trading brokers please.

I changed over to comdirect earlier this year, and must say they have been a good on-line broker no problems so far (fingers crossed)

Cheers Tokyo, I'll check them out

Tokyo: Have you been able to top up again this week?

IG Stopped me out @ 98 yesterday:o((( was only there 2 mins then bounced off. Bitch!!!

For any of you that captured profits when PET peeked at about 150p, looks like DES and FOGL are trending up based on some seismic interpretation of the Falklands basins. This seems a little earlier than I expected, I had it down as a long term investment (glad I invested at floaton FOGL though.

However, due to the oil & gas hysteria at the moment any company associated with the black and runny stuff seems to be a winner.