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

No position here either.

I did have but the PRE rat smelt too much to hold.

Unbelieveable!

Sorry guys but here it was on the 9th December


City Diary
By Martin Waller

Stormy Petrel

SOMEONE is doing a creditable job of manipulating the share price of Petrel Resources, an AIM-quoted oil explorer that has, how shall we put it, attracted speculative investment in the past. E-mails going around the City contained links to reports in the Jordanian press that Petrel had won a contract to assess reserves in the east of that country.

The shares have been rising on hopes that it will be allowed to drill in western Iraq, and John Teeling, the chairman, says the Jordanian contract is linked to this. He was out of contact with his man on the ground there and was last night talking to the AIM authorities about whether a formal announcement was necessary.

A bit late the share price was 10 per cent ahead yesterday. Its horrendous, says Teeling. They are trying to hype the Petrel share price. His Dublin HQ had received almost 100 queries about the e-mails.

The Financial Services Authority says it is a matter for the Stock Exchange. The Exchange says, rightly, it is up to the FSA. The FSA wont comment and shows no interest in seeing the offending e-mail.

And you wonder how people get away with it?

Im with you skids OUCH!

Sorry chaps - too little sell vol yet - revised forecast @ close 26p mid.

willfagg,

I hate to say it (and I feel very sorry for anyone who has made a loss here), but PET have always looked a very risky bet to me.

skids

Now it's flying up again.

ARGGHHHHHHH - I can not believe this, my computer went down this morning, and luckily a friend called me to tell me the bad news, managed to get out at 75, but will look to buy back in when it hits the bottom, as Sudan & Jordan should hopefully help it bounce, but then this really sucks!!!!

Tokyo

tokyo,
got back in at 45p, price was 30p wheni picked up the phone!, had to be done manually.
dexter

How foolish, dexter. Selling has barely begun!

Just bought 5000 at 37p,,is it a risk,,more than likely.

dave you are bonkers or very clever.........................

I hope its the latter....

Dave U missed them @ 28.5 then? ( Back to April's price )

Hope to get shut of them today 45 ish.

I think if this one pans out with no contracts you are looking at 10p.

I know they have other assests but it will take some time to recover from this.

PET will know the answer by now, so why no RNS?

Its one hell of a ride..

45 p is respectable so good luck. I watch with interest and good feelings for you!

Hey, you may just do it.................

On the way back up!

Yes,just having my lunch and the mobile goes,there`s action about.

I would not have the bottle for this, but things look likethey will just get thereabouts.