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

Been Picked up by the Telegraph today

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2004/08/08/cnptrel08.xml&menuId=242&sSheet=/money/2004/08/08/ixcity.html

MM

Here's to a glorious summer/winter champagne all around me thinks

this looks like the first contract of the three that all of us PET's have been awaiting....tomorrow morning will be very interesting even if there is no definate contract announcement it should really fly

GO PET GO

This board should really start to heat up over the next month!!!

Like you all I have my fingers and everything else crossed for PET

Good luck to all holders

Tokyo

morning all,
this article is just a reworking of previous news,the writer is doing what journalists do best,hype.having said that i think PET will win at least one contract,this article was picked up from boston globe,which in turn told me in ane-mail that their source was newsarabia,when i checked the article it was about a month out of date.
this telegraph article should push the price up this week.
good luck,
dexter

It's not even 8am and it's already up 44%.
Don't feel the article was a rework as the CEO was quoted with new info in yesterdays article. Again you only have his word, but my gut tells me that this is real and PET are the favourites for the tender, Why else would Iraq be asking all these technical questions.

All of course IMHO

Good luck all

Tokyo

i e-mailed petrel this morning and recieved this reply,
"we`re in level2 detailed technical discussions involving the ministry,petrel,and our suppliers.
it is an intense process in challenging circumstances.we plan to be in baghdad as soon as these technical transfers are complete for negotiations"
just thought i`d share with you all.
dexter

that's good news is it not?

at least it`s straight from the horses mouth,but what is a level 2 discussion?

i suppose it is 1 above level 1

For you guys : press mention which will appear in tomorrow's Daily Mail.

Beyond the Footsie: Monday close
9 August 2004, This Is Money

Petrel Resources ended 8 1/2p higher at 50 1/2p, after it confirmed it is in talks with the Oil Ministry in Iraq over tenders to develop existing oilfields. At this point no contract has been awarded to the firm, but it remains very positive.

According to The Sunday Telegraph, industry executives believe that a decision has already been taken by the Iraqi energy minister to hand contracts worth hundreds of millions of dollars to the small Irish-based company and its partners.

http://www.thisismoney.com/20040809/nm81252.html

Thanks SH, just passed the link to those over the road that have not yet spotted it.

Sue Helen are you in this too? Could be a classic case of great minds think alike or idiots never differ. Only time is gonna tell on this!!!

Best of luck all

Tokyo

morning all,
whatever happens with these contracts,the steady stream of press they are getting is doing no harm to us that bought in jan/feb of this year or before. with three companies short-listed for three contracts and petrel do seem to be getting more involved with the technical side,the odds are very good of getting at least one contract.failing that you could sell now and make a very healthy profit.
just my early morning thougthts,

dexter

I've just read the above article, buy why is the share price down today??? is'nt suppose to be going up!!!!!

I've just read the above article, buy why is the share price down today??? is'nt suppose to be going up!!!!!

I've just read the above article, buy why is the share price down today??? is'nt suppose to be going up!!!!!

rkausar
bad news coming from iraq, fighting in basra and british soldier killed

I was wondering, does this mean a Petrel employee is selling his shares via option?? All new to this, but it seems a strange time to sell just prior to a potential contract award?

Petrel Resources PLC
11 August 2004


Petrel Resources plc announces that application has been made to have an
additional 100,000 ordinary shares of 0.0125 each listed on the Alternative
Investment Market pursuant to the exercise of options. Admission is expected to
take place on Monday 16 August 2004.

This is Petrel themselves raising funds.

News on uk-wire :
PET to raise funds, public offer ON THE 16TH AUGUST, THE DAY AFTER Bidding on 15TH AUGUST.....is this an obviously an extremely promising situation ??

I hear a song cummin on....

Bid on Sunday
Rise on Monday
Rich on Tuesday