The hcl looks likely to come into operation over the next few months, will this improve the share price or will we have to wait for an actual PSA before any increase takes place? It looks like the UK and the US will wait until the HCL is in place first before they decide to start the pull out. I have also heard news that the contracts signed during the Saddam regime are now definitely going to be honoured. I`m not sure if this includes PET as there seems to be some doubt as to whether they qualify as their agreement wasn`t signed off by Saddam. A Swiss company has announced that they expect to be producing 200,000 barrels/pd by 2009 from their PSA with the Kurds. They have struck oil first time and have five more drills left to complete their programme. Nice if PET were in that position! Our time will come though, just a matter of hanging on in there!!

sold out 2 weeks ago @ 79.8 with a nice profit . Regretted it immediately, and even more so when they went to about 105. When market dropped last week, was lucky and able to re-invest all my profit at 80p so could have been worse.
Last couple of days are on the climb again

MXP would have been better still, though i don't have those either!

market still very sensitive on PET

News message ref HC Law today
Then PET release statement

Everyone must have expected both and yet shares dropped slightly

Probably fly again tomorrow once peoples realise that the news was exepected and its all system go again

pb

Shares write up favourable for PET and a buy recommendation, 5-6 weeks then before (hopefully) the hydrocarbon law is passed.
2517

good call Piston
Looks like another 10 to 12% increase again today

cynic,in reply to your post 117.

Told you this stock comes with a "WEALTH WARNING". Don't buy any PET,you mustn't cynic, as PET could seriously increase your wealth.

Hopefully others bought like I did 60p-70p.

Too cynical for your own good.LOL

regards

lex ;o)


p.s bought as you know 10k @ 87p for 'Cynic's' fantasy portfolio.Almost 20% profit from 6/8/2007.That's +1,500 approx.profit.


cynic - 21 Aug 2007 08:41 - 117
MXP would have been better still, though i don't have those either!

PET trading 100p+.Anyone who has read feedback from AGM which adds more meat to AGM statement will know more to come.Watch PET over the next few transitional months.Bullish.aimvho.dyor.

nice leap away from 100p today..lets hope the climb 'in progress' maintains at the same rate
watcher

Excellent verbatum feedback from this weeks AGM.More meat added to meat official RNS i.e What companies are permitted to say under AIM rules.

Highlighted PET when trading 60p-70p possible to buy 58p-61p.

Anyone who has bothered to do their own research would like me appreciate full potential.Professionals private investors heavily invested added more immediately after AGM and today.Initial target of 5 should be achieved on approval of HCL and contract awards.aimvho.DYOR

116p-120p.On the German Stock Exchange moving higher too.

Bloody Hell. PET one bagger for me and several more to come.

123p-126p!

I've just got home, what a lovely move (so far) today, I've held these through thick and thin since 2004, on a 2 bagger now having bought @42p, but imo there is far more upside to come, I won't be trying to 2nd guess the sp rises and falls but will stick with it. I'm not sure what takeout price to have in mind.
2517

>cynic - 04 Aug 2007 09:26 - 24 of 127
for would-be investors, there will be plenty of time to get in ...... sp is surely rushing upwards on the hype of the news laws being enacted rather than on any discovery ...... furthermore, if the markets remain unsettled for the next month or two as is a racing certainty or even fall quite substantially (my feeling) then sp will retrace sharply (along with many many others)

>lex1000 - 04 Aug 2007 10:21 - 25 of 127
cynic, links for research purposes for from your post it would appear that you have not done so,yet? More substance to PET than just short term sp prediciting.Long term hold for me.PET worthy of full in depth DYOR and then you will "know."

PET websited just updated.

http://www.petrelresources.com/

PET presentation also referred to as MAY 2007

http://www.petrelresources.com/investor/files/Petrel_presentation_April_2007.pdf


>lex1000 - 04 Aug 2007 10:23 - 26 of 127
cynic, links for research purposes.Video link. IRAQI OIL the world needs and IRAQ needs as oil forms 93% of their income.

The War for Oil 58 min - 1 Aug 2007
video.google.com

A brilliant documentary broadast by the BBC about a week after the US and UK invaded Iraq in 2003, explaining why it was all about peak oil.

http://video.google.com/videoplay?docid=8162244809649380953



>lex1000 - 04 Aug 2007 10:24 - 27 of 127
cynic, links for research purposes.Video link.

4th Hearing: 8 June 2007
Part 4 David Horgan


http://www.channel4.com/news/microsites/I/the_iraq_commission/video.html

>lex1000 - 06 Aug 2007 22:04 - 60 of 127
Cynic,

Let's see how PET trades.

10k bought @ 87.6p this morning total 8,860.10 gross - your fantasy portfolio.

At close @ 94p worth 9,387.50 net. profit = 527.40 net.+5.95% profit in one day.

p.s if day trading profit possible @ 97p bid = 827.40 net.+9.33% profit in one day.

In my humble opinion PET long term hold for highest gains - that "feeling grows & grows...."

My posts pre-open today one could say have been proven "timely." For an alternative contrarian view see post below-you did bring MPH into it.LOL ;o)

DOW 13468.78 +286.87

Cynic/Halifax current sp 125p-130p.

10k @ 125p 12,500 -12.50= 12,487.50 - 8,860.10

Since 6/8/2007 net profit 3,627.40 +40.9%

What did PET start the week at please.
2517

about 83p

mwoolgar-----------thanks for that, so it's only natural that profit takers step in. Well done them but I'm more afraid of being out of this than I am from being in it. I feel the same as lex1000, that the really large gains are still to come.
2517

Bid 125 offer 123 now there's a bargain you don't see very often.
2517

Need to change the thread header. :-)