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

maybe there is some bad news we are not aware...

MM's and panic sellers! im holding, nothing will make me sell this. Imagine waking up to find that the sp has opened substantailly higher with an RNS in place the day after u sold in the pm. Sick or what!!!!!!!!!!

Out of PET stop loss triggered.

Morning guys

Quite a few messages here, MM's trying to panic a few holders, you'll notice that a few sells and the MM's will mark down, but larger buys are not having an effect on the SP, it is in the MM's interest to keep the price down until an announcement is released, remember their money is made from between the spread if they keep the price the same, then people are just waiting to see what happens, i.e. vry little buying or selling, by moving the price up and down they are just creating a market, as people panic and sell, stop losses are hit, or people with cash are topping up at unbelievable prices. Afraid I'm all in, but there is no way I'm panicing and selling out, not with all the evidence infront of us. We are all waiting for that RNS, but remember how investor friendly PET were before they went to Jordan for the contract talks, then after they came back, we are in a news black out situation, reports of promised EU funds not reaching Iraq, Oil ministers saying risk/sharing agreements would benefit both oil companies and Iraq.

I am, like most of you here for the big prize, which is perhaps only a matter of days away now, no little penny drops are going to separate me from my shares. Hang on in there

good luck to all PET holders

Tokyo

just sold everything i own and put it into these (not that much by your standards). cannot beleive it has gone below 100p again. this is definitely the last chance

You are joking?

Morning PET persons,

What a top-up opportunity.....freed up funds arrived just in time for the fall in the sp.

I have been in PET since April and no MM is going to scare me out of it, not now when we are all on the verge of great success with this 'tiddler'.

All the news, (including the blackout 'lack of news'), plus the research on this BB is extremely positive. Lets try to keep it that way folks and stop looking for problems that don't exist.

Good luck to all holders.....tough luck on all sellers.

yeah ha ha i'm joking. good one isn't it ha ha. oh i can't stop laughing ha ha ha. be laughing even more when the rns is released. ha ha ha ha ha

One of the most informed threads i ve followed for ages, good advice and researched thoroughly, many thanks in advance to those of u, including Tokyo, Eric. Dexter etc. I will toast u all!!!!!!!!!! where next after this one guys?

Eric, your letter sent via email last week has been published in this week share mag.

big respect to eric, well done!!!!!!!!!!!

just posted this other on the other thread, but so relevant to PET, as these price drops spook most people, I've taken my stop losses off as I would hate to come home, to find out that the MM's have triggered them in an intra day tree shake

As much as I hate these drops, Like most of you I've been in this stock since April and have seen this done twice before already, only for it to jump up further then before 60p down to 40, then 155p down to 80, everytime it has rebounded back up, and the board is then full of people kicking themselves or others praising themselves because they topped up. Nothing has changed except the current SP, the Share price is make or break on the contract announcements, until then whether the SP goes up or down, it really makes no difference. a positive contract announcement and the SP is marked up to over 2 pounds+, if a negative result then the SP is marked down. It really is as simple as that. There will be people ramping and de-ramping this stock, I suggest you just do what your gut/research/or whatever else you have tells you. If I had sold out at 40pence only to see it go to 155, then I'd be kicking myself and I have a feeling sometime this month there will be a few of you that maybe doing so!!!

Tokyo

Tokyo,

Agreed. I have wittnessed this twice before and both the previous occasions as you mentioned the price fell for 4 - 5 days before a sharp rebound. For this retracement we are now in the 5th day.

Also news followed quickly after the retracement. Haven't got time today but this is clearly visible in the chart so will look to post one this evening.

Tokyo , you are absolutely correct and this share is not for technical trading imo - have been watching to get a feel but the shakeout this morning was frightening - personally I believe the mm's were bored and it was done to generate transactions and very successful it was!!

Agree with all above, i am not at all phased, concerned of course, but im not going anywhere!

Well i have just topped up again, so hope i am still listening to my analytical side and not just my intuition.Although I know which of those two i would follow come the crunch.Come on PET!! sorry for outburst of football mentality

willfagg; topped up too, just a little one, but at this price could nt resist.
eric; u win! topped up again.

How many of you are riding the DES rollercoaster as well as this one?

I faffed about when it (DES) was ready to go around the 28p mark last week. Missed the boat!!

Trouble is, how do you define an entry point to get back in after all the cuffuffle dies down? Only thing keeping me sane at the mo is that at least I haven't got a leg on each rollercoaster..........

broke the 90 mark! really trying to pick up some very cheap stock imho. MM's making this move no one else. hold on in there and reap the sweet reward when it comes. i do feel that there will be little time for anyone to get back in a this level shortly.

The e-mail below was just posted across the way, have no reason to doubt this one as Rutter is a regular poster. If PET have been NOT been given the contracts, they would under Stock Exchange rules would have had to say something along the lines of sorry, but we have just got to make an announcement....FACT ! If perhaps they have the nod, but not a final signiture, i.e. Iraqi oil ministry wish to announce the contracts first then sign with PET, it is a good enough reason to keep quiet, and I'm assumming not break any FSA rules.

Here is the e-mail make what you will of it and feel free to confirm it with PET


From : David Horgan
Sent : 11 November 2004 11:52:52
To :
Subject : Sworn to secrecy by the Ministry of Oil.

Inbox


Our hands are tied by the Ministry of Oil. We will release news when we are able to.
DH

-----Original Message-----
From: Jacqui Gallagher
Sent: 11 November 2004 09:22
To: David Horgan
Subject: FW: State of Affairs



-----Original Message-----
From: petrel
Behalf Of ******@doctors.org.uk
Sent: 11 November 2004 08:21
To: petrel@iol.ie; ******@doctors.org.uk
Subject: Contact Petrel Resources : State of Affairs

Name -
Message :
Mr David Horgan ************

Dear Mr Horgan

It has been 6 weeks since you last updated us. Can you confirm whether we are still on track and whether we will be releasing news soon?

I know you are busy, so a one word reply would suffice.
offend.

Good Luck

Yours sincerely