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

Dear Chartist - you are the man with the research here, could you please post the facts behind your predictions for the 435 pence target. I'm sure it would be interesting reading for both the believeers and non-believers alike. I for one feel that there is atleast 100% profit left in this as long the hype keeps carrying it. Very much looking forward to seeing what the market is going to do with this stock over the few weeks.

Tokyo

Tokyo - Log onto www.fleetstreetpublications.co.uk scroll down to 'The Fleet Street Letter' this is the sauce of the info I have on PET, although this site gives no info you require on PET. I sugest you contact FSP direct and ask them to send you a copy of thier latest news letter, the one entitled :-
REVEALED:
The Tiny Irish Stock On The Brink Of Landing The First Post-Sanction Oil Deal In Iraq!

Invest TODAY and a share price hovering around 29p could shoot as high as 435p by July.
I don't subscribe to this publication so they don't actualy name PET but I'm sure this is the stock they refering to.

As I dont have a Scanner.
If anyone lives in the Manchester area and like a read of my copy let me know.
Sorry I cant be of more help.
Cheers Mike.....

I have read the article but its still dependent on alot of external factors that are really in nobody's hands.Yes,they "may"land the deal but how Iraq will shape is a slightly different matter.I subscribe to Fleet street but would not agree that all their predictions were the words of God!

SAW - I agree with you 100%, all that is read needs to be taken with great deal of caution. No won has a crystal ball. >>>DYOR<<

Dear SAW could you post the article here if you have it

Tokyo i;m inbetween moving house everything is misplaced I had a rummage but can't locate at present.But basically it goes on about masssive oil reserves in Iraq with a lot of potential for more and it being the only British co. applying it is virtually guaranteed to be granted the contract.But politics being as they are and the Iraq's not being very welcoming,it's an unpredictable situation.I take the view that if I invest I'LL wait till things became a bit more predictable.I may loose some profit but this way I may loose all my investment.

thanks alot SAW

Given it a go Lifes a gamble..........33.31 in at

wow hadn't expected profit taking so soon

As I said this is a highly speculative stock dependent on an unstable volatile country and who knows what tommorrow holds?Research into the real state of affairs in Iraq go beyond press reports and you may understand my pessimism.

Ive been a long believer on this stock.

However, this is a highly speculative gamble..that can turn very nasty overnight..and similarly vice versa.

One has to recall this stock was at 4p not too long ago.
No contract and we could see those figures again.

Similarly...any win..and we could be smooth sailing..
Its taking your money and putting it on a roulette table
however..I would say with less favourable odds on this instance.

Im sitting on the sidelines...until Iraq becomes a bit more stable.

Lucky.

I must admit...Im back in again..Could not refrain from being out if anything happened.

feelinlucky,

Well the chart looks as though the recent uptrend may be broken, have to watch whether the 150 DMA is broken, as it has acted as support before.

With regard to Iraq, when you consider the violence and turmoil going on there, it's hard to see how any company can consider doing business there, quite simply the employees would become targets, and their safety could not be guaranteed, IMHO.

I suspect this will fall further, until something approaching order can be restored, THEN it MAY be worth a punt on PET.

With regard to teh Fleet St. Letter, I have read their article, and yes I'm sure it's PET they are referring to. When I suscribed to them years ago, I lost money on some poor selections by them.

Hawick - You still hold PET from 27.85? Now up 45% in 3 weeks @ 40/41, you may buy me a drink some time with your profit; :O)
Cheers M....

Been looking around the net for info on the 1st tender, but no info yet. I think an answer is expected soon. Also rumours of PET setting up offices in Iraq, all bodes well for PET holders

good luck All

p.s. if this hits your target of 435 chartist, When I come back to the UK on business I'll buy you a drink. lets hope it's my round soon.

Tokyo

Anyone have any info from the company as to when an announcement can be expected?

Hi Tokyo.....Chief Exec says that first contract decision of the 3 they have bid for will be June.
He states that PET have about a one in three chance of getting and so I will settle for the law of averages in that they win one of the three
If they win 2 then it will be brill and if they win all 3 then I will become PISTON RICH.
Also need to consider that whether they win one , two or three they could very well become a target for the mjor oil companies as Petrel are very well connected in Iraq and that alone is worth millions to the majors who dont have much visibiliy out there due to the troubles.
Be Lucky PET

piston broke - thanks alot.Where did you find this as I regular look at their home page but new new info yet. I'm very much hoping that come June/July, We shall all become PISTON RICH.

Good luck to all

Tokyo

Lets hope Mr Piston broke is correct on his facts...have a nice day!

Guys...the bit about one in three chance and contract decision in June is from Fleet St newsletter....the bit about law of averages is my calculating mind ..ie..one in three chance that means we can expect one bid (three are on the table) to be successful and any more is a bonus...the bit about the possible involvement of majors wanting to get in on the act is my opinion, but that it is common knowledge that the biggies have got the hell out of Iraq, therefore if/when things improve, then the quickest way that the majors can get in on the act is to get into bed with a company that may already have a strong foothold in Iraq..no one anywhere is better equipped with this foot hold than PET ( and that is based upon them winning nothing so think what 3 wins would do for your holiday money)...fell down from 46 ish to 40 late morning but I note that shedloads have comeback in so it has turned aound a shade and they cannot sustain it at around 40p...be lucky PETS...