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

4 pounds sounds as good a price as any to me!!

Has anyone checked out AST, whats happening there

Hampi man

I was just about to type exactly the same thing!!

Talk about fireworks!!

PET watchers might be interested as it's even more exciting, and it might give you some entertainment to destract you from the interminable wait.........

I work for one of the Oil Majors, and the only work they are doing with regards to Iraq is 'Advisory on how to rebuild the Gas Infrastructure'
They also talk about large undeveloped Gas Fields in the Western Desert that have been known about for Decades but not Developed.

The company I work for are heavily involved in developing Oil and Gas Fields in Iran at present.

They are not best friends with the US because of this....

on the other side they are still guessing days, i don't know what they don't understand about "end of the month" i think it just deramps the s.p. as does people saying they will sell out at 2.50. when they get the contract(s)they need to research again otherwise they will lose a lot of money longer term

I have been an investor in Petrel since they were at 14p and first mentioned in Shares Magazine a good while ago now.
I have Locked in Profits many times over , and now all the money I have invested is from Profits , This at a Price of 131p.

I have also been an investor in Siber Energy for a good while , mainly because of there 50/50 partnership in the Saylm Project in Siberia(50/50 Partner with Shell).
This development has recoverable reserves of around 800 Million Barrels of Oil.
That is RECOVERABLE.

If you look at average future $40 a barrel , then this has potential for $32 Billion Income for Development Costs of $1 Billion. with an Opex lift cost of $1.50 a barrel lift cost = $1.2 Billion over Field Life.

Siber is the Biggest company on AIM.
It has been suspended for a while now because of a legal dispute involving the setting up of a company called Moscow Oil and Gas.

They will be coming back onto the market soon, and the expectation is that due to the more than successful drilling campaign and also the economical increase since project started on expected oil price, then a sale of the 50 % share in the Saylm Project will go ahead (Worth $14 Billion)to fund the Moscow Oil and Gas Project(Recieving Terminal for the Project) .
At 28p a share this is a quarter of the price of Petrel and is far less risky and actually worth more.
Keep an eye on it , there will be a circular issued this week with regards to final plans before coming back onto the market.
If PET comes in over the next week, I would Lock in Profits and keep a close eye on Siber for some more Gains!!!

Lansdownboy,
where can i get good info on Siber ?
cheers,
Dexter

Dexter, Go onto londonstockexchange.com or sibirenergy.com. The former has previous trades and reports all to hand. Should gain a useful insight to this on it. I have been waiting for this one myself and hope that PET performs to our hopes and gives me an opportunity to go into Sibir as i hope.

I have alot of info about the Saylm project due to my job as it is close at hand if you know what I mean, but I cannot post it here.

As already mentioned Sibir have there own website.

I bought into them at 16p and have doubled my money ,locked in until it comes out of suspension. There will be an announcment by tommorow of what they plan to do with Moscow Oil and Gas and the Legal battle with Roman Abromvich(chelsea) Oil Company .

Like I said the favorite is that they will dispose of the Saylm share and use this to fund the Moscow Oil and Gas Venture.

Anywhere else we should look at Lansdownboy?

Pet dependant anyway!!!!!!!!!!!!!

Hi everyone,

My first post having tracked PET for a while now, and invested frequently in top ups! Thanks for all the excellent posts and calming influences.

Out of interest, I just topped up with a 2,500 buy that has shown as a sell, intriguing? What's all that about then?

Welcome stevebolton,
if you read the disclaimer at the bottom of the trades page it basically says that the trades should only be used as a guide. hope that helps, it`s best just to keep an eye on the price movement.
Regards,
Dexter

Steve B - You bought 2500 @ 103.2 the bid was 102 offer was 105, so 103.2 is nearer to the bid at 1.2 vs 1.8 for the offer so the system thought your trade was a 'sell ok .....

Thanks guys, all has become clearer, nerve still holding...
Steve

How things change, i got this e-mail from pet before the vow of silence, but still interesting i think.
Dexter

"We are pushing on with our work without interruption- but without going into thefield(on the advice of the ministry).Our geological sampling team is now with the Jordanian NRA on the Jordanian side of the border,taking samples from the field as well as cores.

Our engineering team is finalising the third tender.We have world class partners(GE,Halliburton & Caterpillar groups)."

got another share on the go at the mo, can anyone of you fonts of knowledge help me with a K trade, it went through at 4 mil shares but not registered on volume traded for the day. I should have paid more attention at school.

thanks watcher

Watcher,

Go to the help link in the top right hand corner of the Moneyam page from there select the trades option.

This gives you a list of the codes and what they mean. This is the answer for a K trade.

K Block Trade - A transaction utilizing the block trade facility.

Whatever that means.

Mr C thanks, I take it has got to be 'discount for cash option' the more you buy the more you save etc etc. Everyday is a school day.

thanks again

Afternoon All

the price is still where it was from this morning, very strange day for PET & the MM's. even a 20,000 sell doesn't move the price or level 2, still at 2 V 3.(I didn't think it was possible for the PET SP to consolidate before the RNS announcement, but today was a good try!!!)

People are expecting alot from tomorrow's trading before the Amman conference on Monday, will check back in tomorrow, lets hope it is an exciting trading day, another 22% rise would be nice, will just have to wait and see, although I'll be looking forward to finding hold what if anything this conference holds in store for the tender announcements. I agree it would put the tenders center stage, but the minister was quoted as saying announced before the end of November and signed in December, so anytime in November is cool with me, as long as the news is positive. (Saying that an RNS on Monday would be nice!!!!)

Good luck to all Holders

Tokyo

Tokyo,
i posted this e-mail earlier that i got from PET in early June, oh to get that much info now!!!!,

Dexter
"We are pushing on with our work without interruption- but without going into thefield(on the advice of the ministry).Our geological sampling team is now with the Jordanian NRA on the Jordanian side of the border,taking samples from the field as well as cores.

Our engineering team is finalising the third tender.We have world class partners(GE,Halliburton & Caterpillar groups)."