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

May be this has already been muted but this is from a statement made yesterday.

Incoming Prime Minister Nouri al-Maliki said he had almost finished assembling a Cabinet, the final step in establishing a national unity government. Al-Maliki said he expects to complete his Cabinet within a few days _ the final step in establishing the government. Al-Maliki told reporters that representatives of the country's political parties had agreed on what factions would hold the "main posts," including the Interior Ministry.

Shiite independent Hussain al-Shahristani, a former nuclear physicist who lived for years in exile in Canada, was the top candidate to head the oil ministry, officials said.

http://www.niagara-gazette.com/feeds/apcontent/apstories/apstorysection/D8HGOOH84.xml.txt/resources_apstoryview

It looks like further delay.

Row over oil ministry holds up unity govtPublished: Thursday, 11 May, 2006, 12:05 PM Doha Time.

http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=85849&version=1&template_id=42&parent_id=18

we will have an oil minister in next few days,then DH can release his news to the market....

Another week gone by, still no news. My annoyance with myself (did not sell @1+) is affecting my patience with PET. Must learn to chill more.
2517

I know how you feel 2517, started buying shares a couple of years ago and PET were among the first i bought, 38p, was in front of the computer when they hit 156p but didn't sell as i believed the run was just starting, ohh how we learn, would sell now and buy back in after the drop that i have seen so many times.
Chris

NEW GOVERMENT IN PLACE,WATCH THIS SPACE

Just finished reading about the Bosnian, Serb Croat war. How it was impossible to re-unite the former Yugoslavia. How the failure of those with good intention to persuade different ethnic mixers that hate each other to live side by side in peace.
The situation as I see it in Iraq is that the country will eventually divide into possibly three regions. This as happened in the old Yugoslavia may be the only way to bring a semi peaceful solution. This may also allow separate areas to make the most of the situation and exploit the natural resources. Obviously the above are just my personal opinions.

You may well be right greekman, I don't see how a new government will be able to unite the warring factions, if the insurgents are hell bent on killing, as has been the case again today, then imo the stability needed in order that Iraq can prosper is as far away as ever. I hope I'm proved wrong of course.
2517

I wonder which way it will go now in the near future.

Breaking news.........Iraqi Prime Minister Nouri al-Maliki was expected to make an important announcement at a news conference Thursday, amid a report that al-Qaida in Iraq chief Abu Musab al-Zarqawi may have been killed, his adviser said.

Views are mixed as to whether this will decrease or increase the violence.

BAGHDAD, Iraq (CNN) -- Iraq's parliament has approved the prime minister's candidates for defense and interior ministries, marking a political breakthrough for the country's new prime minister.

Ministers approved Jawad Bolani, a Shiite, for interior minister, and Gen. Abdel Qader Jassim, a Sunni who has been Iraq's ground forces commander, for defense minister

http://www.cnn.com/2006/WORLD/meast/06/08/iraq.politics/

Why the USA ( plus the rest of the world ) need to get Iraq oil on flow in a big way.

A Profile of the Price You Pay for Regular Gasoline.

Year Average price Refining costs Distribution,marketing. Taxes Cost of crude oil.

2000 $1.56 15% 14% 27% 44%
2004 $1.85 18% 12% 23% 47%
2006* $2.86 15% 8% 15% 62%

Source Data: EIA/DOE. 2006 estimated.
Who doubt's that these increases are having the main effect on the US economy, and a knock on effect on the rest of the world.

announcement next week...all aboard?

Windsorgolf,

How do you know?.

windsorgolf, you have been calling 'news soon' since 29/3/06, at some point you will be correct.
2517

It will get worse in Iraq before it gets better. It looks as if the new government with the coalition forces really mean business in the attempt to stop the insurgents.
The Iraq people, as well as the western world can't afford to let the insurgents win, as this is the main delay in oil production. We all need oil to survive.
With the Dow finishing well up, no doubt the main reason is the new urgency in Iraq.

from advfn

trader11 - 19 Jun'06 - 13:15 - 42090 of 42091


John Teeling
Sent : 19 June 2006 08:06:49
To : ""
Subject : RE: PET PSA

| | | PET | Inbox


Mohammed,

In the next few days.

Regards
John

-----Original Message-----
From: [mailto:mohammedfaz4@hotmail.com]
Sent: 16 June 2006 13:04
To: John Teeling
Subject: RE: PET PSA


Hiya John

hope all is well

anyway have we got a firm date for the upcoming results and update?

mohammed

Results look good. OK, it's still mainly jam tomorrow, but the outlook for the next year, then up to 2009 look very promising. Finance, especially cash looks strong. As we are aware, things in places such as Iraq can change overnight, but as JT states, oil must flow and Pet look in a very good position.

Sorry, wrong thread

Could things be getting better at last.

Attacks cease on Iraq's pipeline, oil exports boom
By Ryan Lenz, Associated Press | July 4, 2006

http://www.boston.com/news/world/middleeast/articles/2006/07/04/attacks_cease_on_iraqs_pipeline_oil_exports_boom/

greekman, thanks that was interesting reading, let's hope the oil continues to flow.
2517