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

not my e-mail I'm afriad took this from the ample BB, millidog I think posted it, he seems to be in the oil business and have Horgans ear as he was replying from another e-mail, all seems on the up & up. When it is backed up by the RNS I shall be so happy, until then just waiting with you guys!!!!

dextor01

Who is John Holmes? not in the UK at the moment so no idea!

please inform

he was BIG in the porn industry in the 70`s and 80`s but he succumbed to the dreaded AIDS.
dexter

Then the answer is sadly "NO" not him, I'll go back to being Sherlock

why is it that the 48,000 buy that went through a while back was priced at 2p or so above the buy price?.
many thanks,
dexter

MM's are reading 4 V 1 on level 2 (or so it has been reported I don't have level 2)

So the buyer could have agreed to a higher price on such a large buy. It has happened to me a few times on Forbidden Technology, the MM's have knocked up the price on amounts larger than the normal market amount

Very bullish chart, wonder how far the breakout is going to go up, new resistane at 70pence?

dextor, Did you get a look at all those buys at the end, 3 large buys totaling 305,000.

Someone know something? Hopefully that RNS will be coming soon!!!!

What is the risk with this company and who are there rivals.How close have you been watching this stock i mean its not just speculative rubbish hitting them bulls up can they take much more pain.Please explain RNS as new to game and if dont ask dont learn.What recent news is coming out to get the buys our people just jumping on the wagon.As buys at end tells you big boys playing.What is the speculation with the company everyone is betting on must be something big.Is this stock a investment or trade.Please help new novice to learn this fascinating game ,when these contracts likely to be given.

morning/afternoon tokyo,
that 250k buy was the biggest by far from what i can remember,a buy that size surely must mean something,that coupled with the e-mails people have got from DH.IMO 1 contract =sp of 2.50 rising to 3+ when the dust settles, 2 contracts= sp of 4+ rising to 5+ when settled. this is not based on any maths and market knowledge,just my gut feeling.
cheers,
dexter

dextor your guesses on the SP mirror my own, really hard to do the maths on this one, as PET have never been involved with anything like this before, great start this morning, bid price has already moved up to 59 pence, hoping for 65 by the close of today.

new fool - Welcome

Firstly RNS, is a news release, hopefully with Petrel it will stay that they have secured the 1st contract and then the price will shoot up. I've been involved with PET since this thread started, press all messages button and you can read the thread from the beginning, for you research here is pets website address

http://www.petrelresources.com/_latestNews/latestNews.shtml


There are 3 companies in the running, and it looks as if PET are the front runners for at least one of the contracts

Is this a safe investment - easy answer "NO", the risks if they don'T get a contract are huge, although if they do the upside is also huge!!

Don't invest unless you can afford to lose the cash!!!!!

dextor - Have a feeling we are gonna be in the money soon buddy!!!!!

All the rumours are helping but with all this buying there must be some info leaking out

E-mail from D Horgan taken from another BB looks very promising

From : David Horgan
Sent : 01 September 2004 12:31:55
To : ..... @hotmail.com>
Subject : Iraqi oil field developments

| | | Inbox


We are in level 2 technical communications on the three oil field development with the Iraqi Ministry of Oil.
Industry perception is that we are front runners for at least one - though this is not official.
We will drive ahead as fast and aggressively as possible. It is a challenging environment for the ministry officials but there is a new urgency to their work.

Three Iraqi technicians of the Ministry's Oil Exploration Co. are coming to our operations for training / general technical discussions in September. We are finalising their visas.

Our Chief Geologuist is in Amman conducting the second phase of our cuttings and well core sampling programme on western desert wells - this is part of our JV with the Jordanian authorities (NRA).

David Horgan
MD
Petrel

hi tokyo,
just topped up again today, raided the kids` piggy banks!!,i`ve been to have my eyes tested today,i want a clear veiw when the price goes into orbit!!.i really think something is about to happen,what with that 250k buy last night and the e-mails from DH.they would`nt send iraqi`s for training to ireland if they had`nt won something,otherwise what would they be training for?.

good luck ,
dexter (E not O thank you very much!!)

Hi all. If pet get a contract are there any rules as to when they have to realease the news to RNS? Maybe they have unofficialy been told they have one contract (hence the training etc..) and they are waiting for the second to be awarded and will inform RNS on both at once? I dont know, just a thought.

wilbs.

We're close, though not quite, at the stage where the market almost expects at least one contract and the rises in recent weeks suggest that is already being factored speculatively into the price. The relationship with the Iraq ministry is positive and the training may well just be a shrewd negotiation play by PET to underpin their "front runner" status. So much hinges on the RNS (any day now) - given their small scale I simply cannot imagine that they would get both contracts - for one thing I don't believe they can stretch their expertise and resources (human and financial)to this extent and this must be understood as a major concern from all the parties - hope I'm wrong on this final point as I've been in from the start and am fully committed. One would be very acceptable. Two would be terrific. All three and the Berkeley Square Aston Martin dealership has just acquired a new customer....

Wilbs - DH hsa already suggested in another e-mail that the contract announcements are likely to be staggered, I think the rules are that a RNS can be delayed up to 3 days, we are close to an RNS IMHO, but probably next week or the week after, again IMHO

Dexter - sorry about the mis-spelling hope PET making you a millionaire will be apology enough!!!!!!! Saw you bought some more yesterday, I unfortunately am already all in, but it is enough to leave me pretty well off if they get the contracts and if they get 2, well beers all round in the pub!!!!!!

morning all,
very quiet today,let`s hope it`s the calm before the storm!,seems like a lot of people are topping up with every last bit of spare cash they`ve got.IMO it will be more than rewarding.
the 60p mark is seeming tobe a sticking point,what we need is some press coverage over the weekend to break 60p and kep above it,
dexter

dexter01 - following on from your example, I stuck some more cash in the comdirect account today, shall be watching the shares if they fall any further, I will be jumping in, if not see what I can get at the end of the day, before the weekend press. Nothing has really changed here, the officals are still coming to Ireland, and I'm still expecting that contract, and even of course hoping for 2.