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

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

tokyo we mentioned the price dropping the other day to far as 80p. on the waiting front we all know that patients is a future and with your upfront e-mail technique we can't go wrong, DES pattern is a nice fore runner for the PET 'when' it kicks in.

take care one and all

watcher

Afternoon all,
Good work again tokyo. There is no reason for this drop today, and for that matter the rest of the week, it`s just the MM`s trying to make money out of nervous investors and those that are due to pay for their shares. My advice, for what it`s worth, is throw out the charts and TA and go with gut instinct and knowledge built up over the months. Only take as gospel news direct from PET, website or genuine e-mails, and sit tight, it will IMO be more than worth the wait.
Dexter

If you want a chart to soothe the nerves, have a look at TLT. Glancing at that calms my nerves a bit!

It is looking pretty cheap .........had to buy some more. I blame Tokyo!

house sold for more funds ,now living in tent.................I am prone to exageration

Sold out on the first day of Q4. Following the situation very carefully before I get back in. Kicking my self for missing out on DES. Good luck to all who hold and remember that well known Dell boy saying " He who dares".

LOL

MS