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

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

Eric,
Sorry about the multiple posts, must be the pc( that`s my excuse!). I was`nt linking Heritage to any of PET`s contracts, it`s just that the IOM seem to have started to approve JV`s, which could bode well for PET in the future.
Dexter

Looks like Petrel is ready for takeoff!

If they continue to perform this badly on good news and respectable volume, I'm taking my bat and ball home! I want my promised riches and I want it NOW!!!!! ;-)

The MM's are certainly taking the P*ss with the SP at the moment, but there still seem to be enough people that get scared off by any drop in the daily SP to sell, we saw huge blocks being sold off yesterday, only for the SP to open up this morning on the good news, imagine what it will open up at, if 6 when PET are awarded the tenders, or when the announce that a PSA has been signed with Jordan. I've always been optimistic about this share even when it was 31 pence, the information that I've collected since then has given my no reason to change my mind.

We've got an up-date from the Jordanian deal to come (Sonoran released theirs today)

Submission on the 3rd tender tomorrow

A decision on tenders 1 & 2 to come very soon IMHO


and yet people are still selling, perhaps I am a little more of a gambler, than those people who sold this week, but with the Jordanian deal giving us a new support level (again IMHO) I really don't see PET being as big a gamble than it was say last month.

There are so many people in this share and willing to share their research with you all, can we all be wrong? I say "NO"


Tokyo

I for one am not unduly surprised by the lack of upward movement, because the rns was`nt news to most of us and the sellers could be top slicing or taking profits of anything up to 300%, not bad!. I do think that some people are saying " 300% profit,definite is better than 1000% maybe", because this has dragged on so much longer than most thought.
I would`nt mind betting that people have sold some for profit and letting the rest roll, because you would need sectioning if you sold all your holding IMO, unless we all need sectioning for keeping ours!!

just my thoughts,
Dexter

Another 100,000 T buy, is it the same buyer as yestaday? and friday.

Agree that the RNS today was not "news" as such. There was more of a movement last week when the Jordanian cabinet minister let the cat out of the bag. So this just confirmed what we already knew. Interesting that it took so long to come out - the obvious reason is that there was a check-out with the IOM. Quite a new boy here compared with the old stagers so am still sitting on a loss. However, feel I've benefitted from a lot of relevant research. You get a gut feel, or insight (or heart-felt emotion), depending whether you are a gut, head or heart type: I'm a head man so it is insight. The most significant thing to me is that Teeling and Horgan are playing it very close to the chest and are doing everything that the IOM would want them to do. They do not come across as losers in any way. They have put the gorund-work in, built the relationships, handled the contract negotiations. They are with friends and when they shake their hands and look into the whites of their eyes (unless bleary from too much booze) they know that there is trust there. That's how I believe it is. Its not that they will get everything that they want but it will be enough to give them a very profitable future in Iraq - both for the benefit of Iraq and for their own and that of their shareholders. Do you empathise? I am not making a logical argument (which is what I probably do normally); its what I understand deep down. Sometimes you just "know"!

Eric

eric, Looking at the head heart thing, Tokyo is the head feeder alright, anything out there to find and its on the BB. Then there have been posts from others about the heart concept, (the one about the Irish struggle) the building of the relationships and now with a short wait to go before the tender news and block 6, if you where a collector of shares with a view to selling them profitably in the 'near' future you could get a job as an MM. The T trade at the end of the day (again) helps put my heart/head/bank balance in the same place, waiting not moving, just waiting

watcher

Grrrr
BLR gone the way of PRE,PCI,HNR,ROC, et al today. Tho not quite as bad.
Just waitin for FTO to fall off a cliff then that's me done. I'll have to sell me body after that.

Beasties going cheap!

Get it while its hot!

LOL.

Don't worry about short term losses with all but PRE. The others will recover in my opinion and sooner than you think perhaps.

Not to sure about PRE, it'll be a long haul I think, but it still has good assets.

Many followers of the Oil & Gas sector have had setbacks lately so you are not alone.

Good luck to you.

i got 2500 @56p then another 5000 @99.4 on friday so i am hoping for a gradual rise then contract anouncements in about 726 days time

I really hope they're not working to your timescale drunker50!!

just thinkin of the 10% tax band

Another LOL.

This is a good baord too!

I think drunker meant 7.26 days which just about takes us to an RNS at 7.00 on Wednesday, 22nd. Seems a good day to me. Maybe drunker is a prophet!

Eric

robson
not a prophet yet (still training) just dont fancy giving the taxman 40% of any gains over 8750, if this its 5 within 2 years i will have the dillema do i sell and pay 40% cgt or hold and risk a crash

morning all,
a bit in the daily sport about aman being in jordan, the geography being mountainous and sucking all of the oil out of aman. thats all there was then it just had a picture of a bird woth big tits!!!!.
dexter