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

Time was 0607 EST - and I agree, doesn't change anything, except for the poor souls you get sucked into the hype.

SWW, SP seems to be heading in the right direction (on this news), do you think it will hold

Looks like the MM are getting excited, first around 10am and again as I posted this item.

It's as easy as that!

so we are now seeing the reaction to the shre price as the market believes there is still an increased possibility of a contract

edit: "who get sucked in..."

Seems that way willfag.

I wont be suked in.

I am interested but will not have a few shillings on this.

Too many have lost too much without putting mine in too.

Seems there is a bit of interst but the buys are all small. Good luck to them.

SWW I averaged down last week but I still have a long way to go with this to break even, hoping for the best of course.......not until I hear or see an official RNS will I get out

hampi_man - I think your stance is as good as those who have sold out.

I wish you luck, it seems this may not be dead yet.

Iraq is a land full of misrepresentation and anomalies just now.

The Ministry could come out and say all the contracts have gone to PET especially after the embarrasment of alleged leaked reports.

May yet boil down to a matter of honour.

I know some may think I am mad thinking that, but I say all this as an outsider looking in.

And I hope objectively.

This is exactly the problem.. will the price hold & continue upwards..?? Who knows. Now what really bothers me is the lack of credible news re this whole contract affair. If PET issued an RNS clearing things up then at least we could be on a reasonably level playing field. However the way things stand I certainly won't be throwing good money at this stock as the chances are it would just end up in the bin as my last lot did.

Chrispine - fair comment.

I am with you on this, and do not recommend buying in.

If people hold then they may as well continue to hold imo. Nothing has really changed except the trickle of press comments since last week.

As I said, good luck to any who hold, you all deserve some luck now!

dave - this is why I recommended a couple of days back you kill off your short.

Anything can and probably will happen no matter how far fetched people think that may be.

You would have been burned.

I will stop after this post, but those who released this report would not have done so in the knowledge that this would have an effect on the share price for PET without some thought.

They know the bottom fell out of the price from media coverage, it was mentioned in every media release I saw.

So knowing the price would go up with this one.........................

.............make up your own minds.

50p ask and rising.

It may give people another chance to bail if they want to...........

I think thats it folks.

MM bringing it back into line imo.

Little time intrady sellers about now price dropping because of that.

The news just looks like a repeat of the old.

ziblot - exactly, but this is the second time the Iraqis have said this.

I can not see a reason why they would want to repeat soemthing a week after the first time they said it, especially as the dust had settled on that news.

Old news or new news, it realy does not matter as it has sent the price up 14p today and has given people, opportunities to review where they are with this stock, i.e. hold or sell.

Old news - 20 pence and rising...............

Any shorters out there?

LOL

I bet all the existing shareholders are buying in because it "Looks Cheap" IMO a big mistake as they might get hit a second time. Might be a terific short at the mo.