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!!

New thread created:

PETREL RESOURCES.Independant Iraq Oil Company.10 target 2007/2008 (PET)

http://www.moneyam.com/InvestorsRoom/posts.php?tid=11949#lastread

.
CYNIC,update on your PET fantasy portfolio

At close tonight PET 146p-149p.

10k @ 146p = 14,600 gross 14,587.50 net

Paper profits from 6/8/2007 14,587.50 less 8,860.10 = 5,727.40 net profits or in percentage terms + 64.64%




lex1000 - 06 Aug 2007 22:04 - 60 of 138
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 - 04 Aug 2007 09:26 - 24 of 59
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)

This thread is closed.Please GoTo

2007/08/29 22:26 lex1000 PETREL RESOURCES.Independant Iraq Oil Company.10 target 2007/2008

CYNIC,

Your Fantasy portfolio 10k @ 87p profits on 8,860.10 invested increased 14,987.50 net.

Profit 6/8/07 to close 31/8/07 19 trading days is 6,127.40 net up + 69.15%

Average gains 322.49 per day or put another way 1,531.85 per week.

Peanuts as you ain't seen anything yet! lol

AIMVHO.DYOR

ps this thread closed due to fact PET trading @ 150p , a whole 50% above 100p target price.New thread opened with year end 2008 target price of 10.Enjoy.

Cynic,

UPDATE @ CLOSE. Bid 153p v Offer 156p PROFIT +72% period 6/8/2007 - 6/11/2007 Average profit @ 24% pcm

10k @ 153p total 15,300. Gross profit + 6439.90 gross +72%

p.s profit higher if PET bought 60p-70p.
PET overbought first time.sp dropped 150p down to intra day lows 105p-107p.

Trip down memory lane

>lex1000 - 06 Aug 2007 22:04 - 60 of 139
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...."