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

So according to the "Times article" the Three companies are in the last tender for Hamrin.
Take out (IOG) Iron horse and gas of Canada as we have seen the official statement saying they were not in the running, and perhaps replace them with OGI. what has anyone found out about them recently? I did see a post claiming that they had received a phone call to say they had won. Was that premature? Breaking the silence? What? PET have been told to keep quiet, and are obviously doing so, as they feel they are in with a chance. It was reported earlier that their tender was the best technical one, so it looks as if they need to drop the price a little and they are in, unless there are any other factors effecting these tenders?

Can someone bring me up to speed on the stuff that i have missed out on?

PET are obviously one company, who is the 3rd?

Also with PET

With have Jordan, Sudan and block 6 all to come in January, Who would have thought back in April we would still be sitting around at Xmas, wondering about Enginnering contracts in Iraq?

I am not a holder punters, but it is sure exciting watching this one. I am willing you all on.... Good luck!!!

This share certainly aint staying stationary!!!

One of my concerns is that a few people don't have a high opinion of the men at the top.

Other than that the potential for gains on this stock are massive as a lot of you have probably seen already.

Hope santa delivers a nice little RNS from his sack.

Legend

I cant believe more people are angry with Reuters for delivering what looks like a false statement in the first place. There must be some redress from them, they cost me and others a lot of money.

There is kivver, go see a brief.........

evening tokyo,
i don`t think there is much to bring you up to speed on really.
it just seems to be claims and counter claims, the bottom line is that we are at the same stage we were before it nose-dived. until we get some official news it seems to be the press getting snippets of info.and then rehashing the reuters article. i`m in for a quck gain and top-slicing rather than waiting and hoping for the big one. at the moment it doese seem to be a day traders dream!

i posted the other day that, with PET apparently getting a b*****king for hyping their relationship with the IOM. this was a call that cimbon on the other side made to OGI, they told him that they(OGI) had been awarded a contract. cimbon was told that the IOM told PET they were unhappy with the way they had pushed thier relationship with them.
my take on that was, this "sworn to secrecy" stuff could have been PET having to cut off communication with shareholders, but making it sound as if they were on to something, thus stopping a sp slip. this was ok until the reuters article and so on.
don`t know if that makes sense( long day yesterday!)
dexter

Kivver, I still look like a bulldog chewing a wasp over this. Reuters story was a complete cockup to start with as their "facts" have only a slight connection with the truth.

I, for one, find it hard to believe that a news agency with the status of Reuters can put out such a load of shite as they put out. The FT report would appear to be more reliable, on the face of it. But I'm struggling to know what the facts are any more. One thing I am sure of is that someone somewhere has made a shitload of cash out of all this. And as someone who bought into this company nearly a year ago, I'm still v angry that I had to bail out to protect myself on the back of a "report" from a "respected" news agency that was ridiculously inaccurate. Everasia? They didn't even get the spelling right!! Having ridden out the ups and downs of what has been a rollercoaster sp ride for months, it REALLY pisses me off that it's degenerated into a short-sellers and day-traders free-for-all. Grrrr.

But in fairness to JT and DH, maybe their silence has been because they are still in with a chance, and that they have still been sworn to secrecy on that account. Possibly.

I have still had no reply from OGI, having e-mailed them a week ago.

Dexter - but then OGI turned round and said they had the contract(was that not breaking the secrecy?), now we hear, they are opening the tendering again? Something is afoot? We do know that the British-Tirkish company got one tender, it would not do for an American related company to get the other, not at this stage. PET are still looking strong, but are still as much as a gamble as they were before.

we know they have the best technicial offer, come on PET just drop the price enough the win the tender, the Iraqis are handing you an olive branch just take it!!!

tokyo

Its all a crock of rocking horse poo. Look at yesterdays rise, someone knew the news before you lot

Beasties - im glad your angry like me. The fact is they said the 2 fields including the Hemrin field had gone to other contractors. Now that looks like not to be the case. I wouldn't have minded losing the money if it had been announced officially they lost the contracts. But if it is on account of false reporting that is a disgrace. I will definately be getting in touch with FSA.

If a newspaper makes a false accousation the chances are they will be sued why should Reuters be any different? By the way isnt this the SECOND time pet would have put in a revised tender. Cannot see Iraqi officials being impressed with that.

I have been reading your posts throughout and I totally agree with you guys that reuters making false statements. I had to bail out because of the news from Reuters costing me 7K yes 7K. I am bitterly disapointed with reuters and I hope the person who announced it from reuters gets the boot. I am p***** off!!

tokyo,
yes, your right about OGI, could it be that the IOM has said " ok, you have all spouted things you should`nt have, let`s start again only this time say f**k all, and just for a slap on the wrists, lower the price!".
..........................................................................
regarding the reuters article, if it was a freelance that got the original story and got all his "facts" wrong, i think it would be pointless any one trying to sue or whatever, because he does`nt work for them IMO.

dexter

is anyone having trouble with live streaming and quotes?

can not get my level 2 data up at the moment

just noticed a pattern of switching fire from the PET direction to the rueters news reporter. Could it be that things are getting back to how they should be, we like the look of PET and there is an emerging chance that their tenders are technically sound and they are still in the running. looks like i am going in for more.

xmas greeting to one and all. if the RNS comes out soon then it should cover my medical bill for the ulcer that is growing.

watcher. shops here I come

Petrel still thought to be in Iraq talks
AFX
Three bidders, thought to include Petrel Resources asked for final offers to develop Hemrin.

Iraq has awarded its first post-war oil contract to a Turkish-British-Iraqi consortium and plans to sign four more deals by early next year, a senior Iraqi oil official said on Thursday, reports the FT..

Under the $136m (101m, 71m) deal, Avrasya, a Turkish engineering company, will lead a project to develop the Khurmala Dome, an extension of the Kirkuk oilfield in northern Iraq, Ahmed Al-Shamaa, undersecretary for oil, said.

Three bidders for the tender to develop Hemrin, another northern field, will be asked for final offers soon in a second deal.

Mr al-Shamaa said he received a recommendation on Thursday to proceed with the Khurmala contract from a cabinet oil and gas body formed in July to give Iraq's interim government tighter control over the country's biggest industry.

The Khurmala contract provides for the supply of surface equipment and material to develop the field; supervision of construction; and assistance during commissioning.

Avrasya and Kar, an Iraqi construction company, are joint-venture partners. Dynamic Processing Solutions, based the UK, will participate through an engineering contract, the company confirmed.

Mr al-Shamaa said Iraq's government had decided to re-establish contact with the three bidders for the Hemrin field, as the first two offers were close in price. "We are giving them a chance to give their last price," he said. "We have asked them to give us an answer by the end of the year."

He declined to name the bidders, but an industry source identified them as Canada's Ironhorse Oil & Gas, Nasdaq-listed Ivanhoe Energy and Irish- and London-listed Petrel Resources.

The tender to supply engineering materials and oil and equipment for Hemrin will be worth about $180m.

Word that Iraq is reopening talks with the three companies could boost Petrel, whose shares dived earlier this month after a report that IOG had won the deal.

Iraq's oil reserves are second only to Saudi Arabia's, but the sector's rehabilitation has been plagued by security problems, including insurgent attacks on its main pipeline and other installations.

Mr al-Shamaa conceded that conditions for negotiating the first two deals, which were delayed, were "not perfect" due to difficulties in arranging meetings.

Negotiations took place in Jordan, lasting from October until earlier this month.

Iraq's oil ministry plans to make recommendations on bids for three other projects in southern Iraq by the end of this year, Mr al-Shamaa said.

The tenders to develop the Zubair and Suba-Luhais fields and a refining project in Basra had drawn five, six, and four bids respectively.

dexter01, Tokyo,

are you still experiencing problems?

g

geof

I had problems and my entire list of stocks somehow got deleted and wouldnt let me enter anmore in. It said my subscription level does not alow this.

wilbs

Geoff

Me too!! Could you have a look at it.

Thanks

wilbs,

has this just happened today?

g

geoff,
yes, i can get the watchlist headers, but as with wilbs, all my stocks have gone !.
dexter