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!!

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...."