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

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.

Good luck if you do jeffmack........

I do not hold and will not speculate where this is going.

Terrific spectacle though.

Shorters burning....................

near on 50% up today. Would have been a great short but hey how on earth could you predict anything with this stock. Its the modern day Robin Hood.

jeffmack same as last week I understand the Iraqis are out for a few days so no confirmation for at least 4 days...............

Smells badly this one.

People losing a fortune last week, shorters losing a fortune this week........

You all right Dave?

PET is such a unreliable company...its share price dropped last week due to loss of contract news and this week, no such news...it is just sucking investor's money...i feel sorry for Tokyo

dave closed his short 2 days ago I think.


No reply to mail or bb.'s

I know "I phoned some body at the company(from advfn)", stuff is rubbish usually but apparently sometyhing IS afoot.

Seems it was rubbish

The market makers are having a field day by the looks of things.

I bet the Iraqis are laughing their heads off at the Ministry of Oil...drilling money out of investors like us ...i was beaten last week.