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

YEEAAAAAGGGHHHHHHHHHHHHHHHHHHHHHHHHHH!!!

Fantastic news.
At last they have been taken seriously!
Roll on the PSA's!

yes,things looking great now,everything coming perfectly together

Results look good.
Several prospects on track with no noted problems (obviously in Iraq anything can happen).
With the balance sheet far better than I expected (nicely surprised), they are well able to sustain the pro quo.
Pet have a good team of partners, both inside and out of Iraq.
If things proceed as hoped Pets next 6 months will be very interesting.
Still a risk share, but looking at 12 months ago, a far better punt now.

This is still heading nowhere but down. Iraq will disintegrate into a full civil war when the US/UK leaves and PET will go with it.

The whole oil sector is down today due to there being a lot of uncertainty about the oil price.
Also DNO a Norwegian oil company has been told that the Iraq government does not have to honor agreements made by regions such as the Kurdish controlled areas.
People want to get out of stocks such as DNO in times of turbulence.
It appears Pet are being dragged down by the sector in general.

DH has just been interviewed by CNN.
It is well worth listening to. Last about 9 mins.

http://www.opec.org/home/Multimedia/videos/2006/OPEC%20Seminar/InterviewHorgan.htm

Nothing directly to do with PET, so will only put the link.
The article is well worth a read, for those who want a excellently written overall picture of the future in IRAQ. Peace prospects in IRAQ look even less likely.

Max Boot: Iran and Syria aren't our friends in Iraq
Our enemies have no interest in bailing us out, unless they win major concessions.
November 29, 2006

http://www.latimes.com/news/opinion/la-oe-boot29nov29,0,5922386.column?coll=la-opinion-columnists

Decided to sell after much hard thinking. I just about broke even.
Although I still think there is a possibility of PET making good in IRAQ, I feel the risk has become too great even allowing for the Jordanian projects.
(Now watch it fly).
I will look to possibly get back in if things improve, and accept I may miss out on a big rise in the sp.
Thanks to all those who have contributed to many months of discussion.
Good luck to those who are sticking with it.

Civil war in Iraq is going to last a few years yet. It will make no difference when the US leaves. In fact I would expect the situation to worsen as the Iraq government is weak and has limited resources. There will be a major power struggle when the US goes. Exploring for oil there is a waste of time for a few years yet.

i disagree...the insurgents causing all the mayhem are a motley crew of CIA and mossad false flag agents...root these buggers out when the yanks go and peace will ensue

Something brewing?

Maestro, you are off your rocker

Not before time, but looks that way forest.
2517

37% up still climbing.

Iraqi government cabinet news leak today, when this is known to the market this will fly later today.
http://www.kurdmedia.com/news.asp?id=13786

TheMaster - 21 Dec 2006 12:42 - 2662 of 2662

AGREED...NEWS ON THE WAY...WAS WATCHING GERMAN FINANCE CHANNEL AND THEY ARE VERY BULLISH ON PET...MERRY CHRISTMAS

More good news from Iraq today, PET will prosper from now on

And the news is........................

Good news coming later today on Iraq form Mr Bush

http://news.bbc.co.uk/1/hi/world/americas/6214109.stm