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

Latest from Reuters......... OK Mr Allawi,just keep smiling and listen,
after various emails from MoneyAM users, I am going to keep on squeezing
your hand tighter and tighter until you promise to give some contracts to
PET.

Can you email that photo to PET.

Closed +4.1 .

Ooops...................

Wait and see what any kind of news does to this!

It must be due yesterday1

This extract from Horgan`s interim statement is somewhat puzzling.

"The tenders are designed as cash contracts, but we hope that they may evolve
into risk-sharing arrangements. Funding is not a problem. A major
international group has offered full financing in return for a crude oil
off-take agreement. We will elect for a full risk-sharing arrangement,
including undertaking exploration risk, as soon as such initiatives are legally
and practically possible."

How could PET offer a `crude oil off-take agreement` to a finance house when the contracts never included oil production in the first place?

aldwickk
give me his e-mail address and I will send it to him and wish him Merry Xmas from all his PET fans

H. won't be getting many then. Hope he has a very merry christmas on MY 5k!!! :O(((

This from the other side. I know I generally don't listen to posters, who claim to have 'phoned someone' but this guy has always seemed a genuine bloke and has contributed some very worthwhile posts in the past (I believe he's Turkish, so would be able to speak to Avrasya Tech) I've checked the phone number and it is genuine:

cimbom - 21 Dec'04 - 18:38 - 7401 of 7445

I have some news for everyone.I have been comtemplating on whether to post it or not as I was afraid of what the outcome would be and also whether it is 100% true or not.It is not 2nd hand news as those who know me know that I only post what I have researched myself and not "oh my source told me".As there have been genuine posters on here as well as others,I thought it only right to share this information.
Today I gave Avrasya Tech a call to see what I could find out.I was told that they had indeed received confirmation from the MOO via telephone that they had won the contract to develop the Khurmala Dome field and that work was starting in january.

www.avrasyateknoloji.com/
tel.00902122513734

the url for the above comments from the 'other side'

http://www.advfn.com/cmn/fbb/thread.php3?id=7903517&from=7401

Hello Santa,
angelse says she has had a few words with you checked your phone number, it is Greenland and everything gonna be alright Well Merry Xmas every one

Unfortunately still not brilliant news, but thought this was worthwhile drawing to your attention, there's been so much hear-say information about PET that factual stuff is always worth a look. Obviously, have a look at the site yourself, I've included the link.

I've long since resigned myself to not winning the 2 first contracts, but this makes me concerned about Suba & Luhais. Any thoughts?

Note particularly the references to S&L in para 1 and the reference to the (in)validity of pre-war contracts in para 2:
(link below)

http://www.riza-1.com/knowledge/Oil-companies.htm

Russian oil and gas companies have contracts to service and develop sites throughout Iraq, with a $40bn economic agreement between Iraq and Russia reportedly having been signed in 2002 to allow oil exploration in western Iraq. The proposal calls for 67 new projects, over a 10-year time frame, to explore and further develop fields in southern Iraq and the Western Desert, including the Suba, Luhais, West Qurna, and Rumaila projects, commencing upon cancellation of sanctions.

NOTE - Russian and French contracts are a significant reason for why the US and UK cannot afford to lift sanctions on Iraq without first gaining complete control of the oilfields (under pretext of 'war'), and a stranglehold on the incoming government or puppet regime that will be introduced. If successful, these contracts will no longer be valid, and the debts incurred by Iraq for its rebuilding process will allow its attackers to pressure the denationalization of its oil fields - in other words selling them on to private oil conglomerates like ExxonMobil and British Petroleum and hence western state control.

The link to the original msg on the other side is:
http://www.advfn.com/cmn/fbb/thread.php3?id=7903517&from=7420

HIK !!!

Its been documented that OGI have offices in Baghdad, and EverAsia have Iraqi partners. These contracts are being kept close to home. UAE Dome has to be favorite for S+L. There is too much unrest and Moo have to be seen as at least appeasing the Muslim world and when negotiations start they can turn round and say they got good deals on upstream contracts.

PET is a dead duck for the present. The Turkish company have said the MOO have informed them they have the second contract so it must be assumed that Horgan and Teeling have been informed as well and know their fate by now but still remain silent. Why are they holding out?

These contracts for developing or repairing oil production facilities in the Kirkuk and Hamrin fields are cash contracts that ********** would like to see converted to risk-sharing agreements in the future. ********* made the formal submission to the Ministry of Oil in conjunction with the Company's operating services affiliate Scottsdale Oil Field Services Ltd.

"Now that these bids have been submitted we intend to meet with the Ministry of Oil to discuss our potential involvement in these significant projects," "Our Iraqi partners are currently in Baghdad and have several meetings scheduled this week to explore the status of the Khurmala and Hamrin projects. Despite the volatile nature of working in Iraq,********** remains one of a handful of Western companies pursuing oil and gas opportunities inside Iraq."

Sounds almost as tho' its Pet but its Sonoran Energy and even with Iraqi partners got --------------well what do you think.

Hi all, just read the posts from yesterday afternoon, (shift work, wonderful thing) at least we seem to have a sense of humour still, I can't see pet getting the third contract but am holding anyway, after all I can't lose much more and they MAY go up and I would kick myself if I missed out. but what's that in the sky over Plymouth? a flock of flying pigs with what looks like a contract, I must take off one shoe and follow the holy gord of Jerusalem.......
There has been so much posted about different types of contracts, I understood one of the many delays was to retender risk sharing contracts, now cash, exploration, development, the list goes on, I will still hold for now but any significant jump and I will be out.
Chris

People,
Any significant jump and we all may be out!!!!! I 'only' lost a couple K but it's not what I actually lost but the disappointment of what it did not turn into that is most depressing. I can't even find a spreadbetting house who will take a bet each way as a 'just in case' situation.
Oh well back to trying to find the next big thing.................
Merry Christmas All and whoever you pray to, pray that PET win something of note in the New Tear, it may be their only hope!!!!!!!

morning all,
just a thought, the post by cimbon earlier re: phone call to everasia, apparently he was told that PET got a b****cking because they used the IOM "relationship" to hype sp. if this was the case, maybe the "sworn to secrecy" quote from PET was, in fact not what we all thought, but PET having to behave themselves regarding what they put out, and putting it that way was in itself hyping the sp!.
regards,
dexter

i wonder if those consultants who did that work in lue of shares sold out?

Good point, but would they have to wait a certain time before they could sell , or a certain price same as with options.