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

wilbs,
One that i`m keeping an eye on is BPD, it``s dropping at the moment , but i think it will bounce, it went mad the first two days of trading , and quite often this happens again.COP i think is a good bet, i wish i got some at 13-15p mark, with it`s connections in Iraq it could explode( excuse the pun).Another one with prospects is Cluff Gold, again dropping at the moment but it has reserves in africa, it could be good for a fairly quick gain when it bottoms out.
But then what do i know, my first share was Leeds United!!, lost the lot, too slow.
dexter

Dexter,

I dont know much about BPD, I ave been looking at cluff, there seems to be alot of gold and mining companies either listed or waiting to come onto aim. I am alos in on NBR, got the info off the thread that Toyko started. Diamonds are in short supply compared to the demand for them. I am in on AFD, posters over on the AFDN threads have no faith in JT and want him voted out at the next AGM(19th jan I think). Leeds United eh! Could be worse, could be Norwich!!

wilbs

well, of to lynn now to get a new monitor, if i don`t get blown away first!

I just bought a new computer and bought a TFT, its fantastic. Got a TV card yesterday and can now watch sky on it. Better go and do my shopping I suppose.

wilbs

wilbs,
which set-up did you get?,and what tv card is it that you can get sky on?
the tft i wanted was out of stock, typical.
dexter

Hi dexter,

I bought a dell base unit brand new off ebay, cost 235 delivered next day.The spec is as follows:

Processor
Intel Celeron Processor 2.6GHz

Storage
80GB (7200) RPM Hard drive
52x CD-ROM Drive

Video
Integrated Intel Extreme graphics

Memory
256MB RAM DDR Memory

Communication
Integrated 10/100 network interface

Ports & expandability
3 PCI
6 USB ports (4 at back, 2 at front)
1 parallel port
1 serial port

Sound
Integrated sound (just plug in some speakers, not included)

Keyboard
Dell Quiet Keyboard

Mouse
Dell PS/2 2 Button Wheel Mouse
Dell Mouse Mat

Windows xp home
Microsoft works
Adobe acrobat/reader
Paintshop pro
Dell media center
+ loads of other stuff

I bought an NEC 15' TFT monitor for 100.

The TV card was from maplin, its called WinTV GO, made by Hauppauge. Its got teletext, records programs on your hard drive to burn onto DVD. Its not got sky on it but Ive run a link off my digibox to it so I can watch it on my TFT(you still have to change channels in room box is). It cost 39, they also do a better model with remote control and a radio tuner(about 90).

Hope is some help, if you want to know anymore ill be glag to help or email me at cwtrader@btinternet.com

wilbs

dexter

Good to see you're keeping the spirits up. Lucky down here near Rye where the winds have not been too bad although it stopped me emerging early for golf. Good excuse!

Thought I should explain my PET sale. I still think its a super bet amongst emerging oil companies and a good play from many standpoints. I tried to think it through dispassionately, which was difficult as I had bought in at 100p plus and sold at 50p for a 10k loss. To my reckoning, though, it is irrelevant what you paid: the question is whether I would buy them now; if not they are proably a sale as there are several strong contenders as buys.

First: I bought on the assumption that they would have a share in the oil production if they won a contract; reasonable assumption but debunked by the Iraqi annoucement that they will own all the oil; this applies to Block 6 research as well as the initial fixed price contracts. Second: I can't see that there will be that much coming through to the bottom line if they do win one of these contracts; they have to make heavy use of sub-contractors; they will have to put in a keen price as it is clear that Khormala Dome will have been 'bought' by the Turks. Third: the up-side cap. is proably well under 100K this year and there is a fair downside too; thus it doesn't satisfy a 3:1 return criterion.

Having said that, PET will be the only oil on my watchlist and I could well trade them. I would forecast with reasonable confidence that they will end 2005 with progress under their belt; by then they could well deserve re-evaluation as a potential major player. I may well be proved wrong in selling: I hope so from the viewpoint of my friends on the board.

Eric

Morning all,
Where is everyone?. cheers for that wilbs,what is it like buying off e-bay?, i`ve never really looked on the site, what with all the horror stories etc.
I sold PET today and bought NTX for a quick gain, not going to plan at the minute though!, i want to buy back into PET and increase my holding soon, as i do feel they have plenty of potential in the longer term.
dexter

Afternoon dexter et all,

I have bought loads of stuff of ebay, never had any problems. I bought into NAD this morning, its gone up 50% already. The shares have now been susspended by request of the company pending an announcement.

wilbs

Cripes I missed the RNS & look at the price now.

Dexter,
did you sell all you holding of PET?

wilbs,
yes i did, just having my lunch, checked it,RNS out jumped back in, at a loss with NTX and buying back.
dexter

dexter

Hopefully we will start getting a few more RNS's. Prob be a bit of profit taking. I may sell then buy back in. Have you heard from toyko lately?

wilbs

wilbs,
No i have`nt, the last i heard he was getting some questions together to ask a friend of his who knows of lot about PET.

Dexter

Ive not seen any posts from him for a while.
Are you still about toyko?????

wilbs

A couple of really good points about the RNS today. First: confirmation of the integration with the Western Iraq area, presumably block 6 with the implication that drilling rights will be restored to PET. Second: the potential prudction sharing agreement. This is in contrast with Iraq who insist they own all the oil so that contract winners might do good business but they will not get the multiples from oil flow. The announcement moves PET towards being a more stable player and a better long-term bet. However, OBTS, so watching, if not from afar, from the sidelines at the moment. Better luck, though, for those staying on-board.

Eric

eric, points for the up today. Hope this does indicate there is leverage towards block 6 on the other side of the boarder. Stable player is a good description for the future. Watch out for DES

watcher

Just seen this:


Petrel says drill underway in Jordan
Monday, January 10 14:08:26

(BizWorld)

Irish oil and gas exploration firm, Petrel Resources, today said a work programme is underway in the area covered by the company's exploration agreement with the Jordanian government.

The company said the Memorandum of Understanding with the Jordanian authorities, which covers the East Safawi block in the Arabian desert near the Iraqi frontier, is convertible into an exploration and development licence after six months.
If drillable targets are identified, the company expects to advance to a Production Sharing Agreement.


Petrel said its work programme will be integrated with its work in the Iraqi Western Desert. The company said it believes the area is under-explored and hopes advances in computer processing and field techniques will offer new insights into the petroleum potential of the region.

......................................

I know it's a re-hash of the RNS, but nice to see the news starting to travel.

AFX


TEHRAN (AFX) - The Iranian government said today that US oil group Halliburton Co has won a major contract to drill for gas, despite US sanctions against foreign investment in the country's energy industry.

'Halliburton and Oriental Kish (an Iranian company) are the final winners of the tender for drilling South Pars phases 9 and 10,' the head of Pars Oil Gas Company, Akbar Torkan, was quoted as saying by state television.

An unnamed company official quoted by the reformist Shargh newspaper said the deal for the gas fields in the Gulf off the south coast of Iran was worth about 310 mln usd.

He said Halliburton had not directly signed the contract but that it had offered its services via Oriential Kish.

Under a law introduced in 1996, the US threatens sanctions on both American and foreign companies investing more than 40 mln usd in Iran's petroleum industry.

Halliburton, once chaired by US vice president Dick Cheney, has come under investigation in the US for its dealings with Iran through a Cayman Islands subsidiary.

Iran, which is OPEC's second largest oil exporter, also has the world's second largest gas reserves.

aet-sgh/fpn/txw/cw

Whats to stop Halliburton getting contracts in Iraq if the Iranians don't mind dealing with them.