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

No RNS but posters in the ADVFN board think news is imminent and one poster was advised by his broker to buy. This share is very speculative but can take off on good news. However, the management team did not do well with PRE, so do not invest anything in PET you cannot afford to lose. Good luck.

get real everyone! this share is not up 23% on imminent news. it is up 23% as a result of being trounced over the last 2 weeks on no news. it was pretty inevitable it would bounce to some extent. (and don't ask if it was so inevitable did i buy? the answer's no, because i had no money left after averaging down so many times from 140.

despite the 27% rise so far, its probably still in the red for a lot of people!

IG Index will now alow me to open a position. Its only alowing to close positions.
wilbs

eh?

I concur, skids will be in the red for a while yet

Well PET s, either something positive is about to happen or the garden path is still in front of this stock!

Steady climb is more than a bounce imo.

New Iraqi Government in, ach, who knows???

Interesting to see over the next day what happens.

Has PET woken upor anew stye m/mover

Its been hot today still got me long.

From the times website.

May 04, 2005

Rumour of the Day



Talk that Petrel Resources may succeed in winning the contract to develop the Subba & Luhais oilfield in Iraq sent the AIM-listed minnow up 8p to 35p. Dublin-based Petrel has seen its shares tumble from 133p since failing to win Khurmala or Hamrin, the first two fields put out to tender by the Iraqi Ministry of Oil.




http://www.timesonline.co.uk/newspaper/0,,2733-1596776,00.html

wilbs

Up she goes!!!
wilbs

Good news

Petrel Resources PLC
04 May 2005

Petrel Resources plc



Petrel has noted the recent volatility in the share price and certain press
speculation. Petrel wishes to report that it has not yet obtained clarification
regarding potential contract awards for oil field developments in Khurmala and
Hemrin referred to in an announcement on 12 December 2004, nor has it received
any formal communication from the Iraqi Ministry of Oil about the status of the
pending Subba & Luhais oil field development. When there is such notification
the Company will immediately inform shareholders.


This information is provided by RNS
The company news service from the London Stock Exchange

Some serious buying going on here, anyone know if news of the bid is finally breaking?

If you are talking about the two 410,000 buys they were B trades, broker to broker deals, so you can't count them as normal buys, best to discount them.

2 x 100k buys and no move strange!

that was a rollover

patsy

that was a rollover

patsy

Are PET doing anything beside waiting endlessly for crumbs from IRAQ,ANY NEWS FROM jordan of EXPLOR'N and DEVELOPMENT licence after 6 monthes,or drilling any thing anywhere does any one know anything.