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

Is this the company Horgan was talking about when he mentioned OGI in his interview yesterday?
There is a possibility it is working as an advisor and supplier to the company who got the contract. Saipem oil company of Italy is one of it`s clients as are many middle eastern oil companies as well
..............
OGI

With its head quarters based in the Eastern Province of the Kingdom of Saudi Arabia. OGI understands the complexities of working in the middle east region which frequently can be hard for foreign companies to comprehend hindering and frustrating desired progress. Working daily with major clients, operators and contractors like Saudi Aramco, understanding their requirements as well as understanding their suppliers capabilities OGI successfully bridges the gap to develop client and supplier relationships to meet the overall project objectives on time; on budget. Acting as advisors in the middle east region OGI assists their international partners growth by working alongside them bringing them up to speed with the local issues related to achieving their goals. There is no handbook for success here only experience and knowledge passed on.

Sounds like middlemen peddling influence rather than a crew prepared to get their hands dirty.

just got my reuters daily news briefing, nothing at all about PET, just CNE dropping 20%+

Would be very grateful of a resume of happenings this morning please! Any thing that does not involve slating other posters or obviuos rampers and de-rampers, just anything tangible! be much appreciated have been off line for a while.

No real news.

Rumour says PET and Rueters are working on a retraction statement to be issued before the end of trading.

That, if true may affect the price but it is a heavy gamble again.

I have posted the link to PET.L at Rueters so you can go there aand refresh periodically, and if true you will get the info before the market so there may be a chance to make a few quid.

Usual dislaimers apply!

http://www.reuters.com/newsSearchResultsHome.jhtml;jsessionid=KBOLBBJAK54KGCRBAE0CFFA?query=pet.l&qtype=a&x=10&y=8

Anybody got comments on the Late (L) buys/sells today @ 53p. strange??

after yesterday i went to bed and slept like a baby// woke every hour and cried

Late buys ans sells probably yesterdays trades.

drunker50 you may be laughing later!

seawalker - just seen your post, have been out and missed all the ups and downs after this morning, please fill me in as to this update.

thanks

tokyo

could this be 1 last huge false news orientated tree shake, i still hold has i was told weeks or months ago by a poster if your weak willed look away now

Tokyo is it this one?

seawallwalker - 17 Dec'04 - 13:57 - 1806 of 1810 edit



No real news.

Rumour says PET and Rueters are working on a retraction statement to be issued before the end of trading.

That, if true may affect the price but it is a heavy gamble again.

I have posted the link to PET.L at Rueters so you can go there aand refresh periodically, and if true you will get the info before the market so there may be a chance to make a few quid.

Usual dislaimers apply!

http://www.reuters.com/newsSearchResultsHome.jhtml;jsessionid=KBOLBBJAK54KGCRBAE0CFFA?query=pet.l&qtype=a&x=10&y=8

I assume so, well I have been trawling the boards all day and picked upmthat on ADCFN frpm one of the regulars.

I'll retrace and find it in total or it may be prudent for you to ask outright and you will get a quicker response, I think there are too many new posts to make my search easy.

http://www.advfn.com/cmn/fbb/thread.php3?id=7903517&from=4229

I know it could be untrue, but as the news release seems a bit dodgy anyway, it's worth keeping an eye open.

Tokyo and Seawallwalker; Have found this rumour circulating too! If so a retraction will be issued over the weekend.

Also odd that nothing appears on Iraq Procurement web site they have been releasing contract news on there as it happens!

Got it...........

toedipper05 - 17 Dec'04 - 12:49 - 4043 of 4265


FLASH - A mate who works in the business here in Ireland says that there is the POSSIBILITY that Reuters are preparing to withdraw the article and apologise to Petrel. Supposedly a joint pr is being drawn up and will be released today before close of business.

All maybe's and but's at the moment, nothing definite but looking positive. Don't leave your pc screens.

Posted on other side!!!!!!!!


If you go to msn search and enter the authors name khaled yacouk oweis at the top of the page you will see a link to the reuters article.When you click on the link http://www.reuters.com/newsArticle.jhtml?type=reutersEdge&storyID=6035403 you will see that the story has been removed.Please could someone check this out and report back.

http://www.reuters.com/newsSearchResultsHome.jhtml;jsessionid=KBOLBBJAK54KGCRBAE0CFFA?query=pet.l&qtype=a&x=10&y=8

Only the initial one, not the updates.

thanks for checking sww.

what an awesome situation ziblot is in now...... to make if the story is false would be brill for him.. got me dosh ready and braced for impact..
PET must be fuming, having done the right thing by remaining silent as requested

watcher

I suppose if the report is wrong, its wrong period. But if its correct, except for the names, how can PET's valuation at a 1 or more be justified? These are not big construction contracts by any stretch of the imagination. The Dome cost more than the two contracts put together. The upside can only come from a production sharing agreement.

just got this reply from DH,



It is the weekend in Baghdad (begins 12.00 local time on Thursday).
The head of SCOP is in Syria.
We were sworn to secrecy until the tenders were announced. A Ministry
official was shot in September allegedly for 'being too close to the
Americans'. They are sensitive - and understandably so. I am only
responding to you in the light of the Reuters report.


There has been no notification of any decision, either way.

The third of the tenders (the largest project: Subba & Luhais) was
submitted only on Wednesday 15th Dec.

We cannot influence what Reuters - or any other media group say. I did
notice that a later report quoted the Deputy Minister of Oil denied
that an award had been made. Also, the Canadian group mentioned denied
any involvement.

We push on with our work: we bid a technically excellent package - but
fully costed and with a margin that if successful will be attractive to
shareholder. Why take a service contract on any other basis.



In the meantime we push on with our exploration work.



Markets over-react to recent events - good or bad. We have made
considerable progress this past year and are now an accepted player in Iraqi
oil developments.



We will push on as vigorously as possible constrained only by the
discipline of an attractive risk-adjusted return. You shouldn't expect
anything else!



David Horgan

MD