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

OK here is one, only 3 more RNS announcements to go(tenders, Block 6 & Sudan), and we are Rich!!

Petrel Resources PLC
14 December 2004


Petrel is pleased to announce the award of a Memorandum of Understanding by the
Jordanian authorities (convertible, subject to discussion, to an exploration
licence after 6 months) covering the East Safawi block in the Arabian desert
near the Iraqi frontier.


The work programme involves integrating geological data from Jordan and adjacent
regions, aimed at elucidating basin history. Samples available from relevant
wells will be processed for maturation and apatite fission-track analysis to
reveal the burial history of the basin. There will be detailed interpretation
of Landsat satellite imagery to provide information on the controlling
structural trends. Seismic data will be re-processed and existing seismic data
re-interpreted, using the re-processed grid of lines for control. Time and
depth maps will be prepared for the important reflector horizons.


We expect to sign the Memorandum of Understanding this month and start work in
January 2005. The East Safawi block lies on an extension to the petroleum
targets being studied by the company in Iraq, and is both prospective in its own
right and also helpful to our understanding of the Arabian Desert generally.


For further information:
Bell Pottinger Corporate & Financial
Nick Lambert +44 (0) 7811 358 764





This information is provided by RNS
The company news service from the London Stock Exchange

rns out re. jordanian work!!, for some reason i can`t paste it

morning Dexter, beat you to it this morning, see post above.

also from fillyaboots, check out this website, brought this up before, but look at the cut off date.

check out this site

http://www.oilcareer.com/

ADVANCE NOTICE: December 16, 2004 is our application deadline for 26 MAJOR oil projects now hiring.

the application deadline is interesting, as Petrel are among many companies that use this service, maybe nothing, but worth a look.

tokyo

morning tokyo,
you have got an 8 hour or so head start though!!.
dexter

Morning GUYS! Is this the start of it, i think so!!!!!!!! With this surely it ties in Block 6 as so many have speculated and further Rns releases to come! Merry Christmas one and all.

Morning guys. Starting to get REALLY hacked off with all this waiting. Everything crossed for some news soon.

Beasties, have you seen the RNS out today on Jordan? This is the start of contract news to come. Dont forget that the Iraqi's timescale was by the end of the year, thats only a few weeks away!!!!!!!!!

Yeah gra I have. But it's the BIG news I'm sick of waiting for.
Grrrrr!!!

Oh! me too, but that wont be long coming now, this is the start of a busy two weeks!

Beastie - read the RNS from today again, especially this part

"The work programme involves integrating geological data from Jordan and adjacent regions"

Wonder where those adjacent regions could be?

Tokyo

block 6 ere!

As this is so connected, block 6 and 'adjacent' in the rns, surely an Rns is imminent, im sure that Pet did not release todays Rns before speaking with MOO and firming up further agreements etc!!!!!!

gra1969 - I did mention last week that I thought the Jordanian leak had caused a panic in Iraq, Jordan & Ireland, lets hope my thoughts are proven to be true, by a couple more RNS announcements, but does seem strange, that we have a report that the MOO have chosen the companies to be awarded the contracts, and then PET are able to release the same RNS that Sonoran were free to release last week

Tokyo

Ture, Sonoran are not researching Pets area, of course, and that lies 'adjacent' to Block 6. Sonoran had no need to check with MOO, Pet did! this bodes well for us all!

I think a lot of people are jumping ship as they believed this would jump the sp higher than it has, a little fickle me thinks!

I thought the best chance of news for Iraq was tomorrow?

Nice to see this bit today though.

Tokyo, I took a leaf out of your book yest and had a top-up!

Back to that 98-102 ish range again. An Iraqi contract RNS followed by a further Jordan RNS are most certainly needed!

gra1969 - agreed, although the RNS's have been needed for sometime now!!
that huge sell this morning, gave the MM's plenty of stock to play around with, hence they can still try their little tree shakes until the Iraqi tender results are known.

beasties - Lets hope our little top ups pay off, otherwise it will be KFC for Xmas, instead of turkey!!! (makes me laugh that over here in Japan, people actually go to KFC for a Christmas dinner!, have they started that back in the UK?)

Tokyo, i think we all know on 'contract' RNS news there will be no holding this back, hence we have all held and topped up along the way!

In Japan 2002 world cup! i have never seen a nation take so warmly and enthusiastically to two Englishmen (myself and a good friend) popping 'fizzy wine' and spraying it all over them! Long live RAPONGI District! They are so rebellious over there they just need a nudge!

dexter

I'm not sure why you posted the Heritage press release 6 times but it made interesting reading. Are you linking this to the the possibility that Heritage, with their Iraqi partners, have landed the Khurmala Dome; would make sense. It is clear that they are awarding the two contacts to different companies so, if PET land Hemrin, the IOM will have two partners they are comfortable with.

Its also interesting that the Jordanian RNS has taken the best part of a week to surface after the cabinet minster clearly jumped the gun. It appears to be beyond reasonable doubt that this is because of the linkage to the Iraqi Block 6 and that the statement has had to be cleared in Baghdad. If PET get the Block 6 agreement, what do we see the effect of that on the cap. and sp, ie. without Hamrin? However, my own intuition says that they will get Hamrin and Block 6. If it was only Block 6: (a) there is not the same pressure for an announcement; (b) there is not the need for such a great level of secrecy. I think that they will want to get on with the Kirkuk and Hamrun projects and that we will hear by Christmas.

Remember Jeremy Lacey's evocative comment re the next Cairn Energy; its a pretty good hand of cards!

Eric