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

Where over half way in September and there is still no signs of any news. First it was mid July - August, now its probably christmas time, before we hear anything!!!!

Tokyo, had a look at advfn, but was not impressed with the standard of the comments.

I just received email from David Horgan (MD, Petrel Resources) in which he stated that things are going well for Petrel in the tenders and they expect to be called to Baghdad sometime in October. He attributes the delay to the difficult political situation in Iraq.

I would say it's definitely worth holding on for the news. Just don't hold your breath and have your stop losses ready.

In the meantime if anyone else has any other news please post it here.

chrish00 - please post the e-mail

anyone understand today's drop - a lot of activity, buying and selling?

Things are going well for Petrel, though there are political difficulties in country. We are in detailed discussions and expect to be called to Baghdad in
October.

David Horgan
Petrel

thanks chrish00 for posting this e-mail, this is a positive statement, and about as much as one can expect under the current critical situation in Iraq.

Those who hadn't done already are all bailing out - seems the delay and instability in Iraq are contributing factors. A good profit on these on the back of August's rally is now seen as attractive. Could be worth letting it flatten out, before getting back in again. I think these could drop back to July levels maybe back down to 40p. No news until at least late October is giving investors the jitters.

for any who got out it is time to get back in and quickly

Petrel Resources PLC
27 September 2004



Petrel in commercial discussions on Iraqi oil development

Since June Petrel has been in detailed technical discussions with the Iraqi
Ministry of Oil on three tenders submitted between April and June 2004. This
work clarified and fine-tuned the technical and commercial details of the
contracts.



Earlier Petrel had submitted plans to develop the Khurmala Dome, Hamrin and
Subba & Luhais oil field. Funding has been allocated but Petrel has also
offered full project financing via an international partner. In recent days the
Iraqi Ministry of Oil invited Petrel for 'an urgent and direct discussion to
finalize all technical and commercial matters' in relation to the first of these
three tenders.


David Horgan
Managing Director
Petrel Resources plc
+ 353 1 833 2833


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

I hope you held on peeps!

check the iii pet bb, DH going to iraq today or tomorrow,
dexter

great post by millidog on iii thread, see below

just got off the phone from speaking to 'Jacky' at PET investor relations office to see if he could clarify a few points.

DH's travel plans to go to Baghdad were finalised at the end of last week and he is due to travel either today or tomorrow.

Unfortunately he is not at liberty yet to divulge the name of the "finacial partner" (I'm presuming this would have to be done officially via the LSE anyway) but that the party concerned has considerable experience and knowledge in the field of operations that PET is embarking on.
He also mentioned that whilst having the "financial partner" is an excellent added card for PET to lay on the table, their involvement, whether full or partial, has not yet been determined of finalised.
Hope this is of some use to you and all.
Millidog

What a surge today! This and PCI good news today, lets hope it continues. Oh how i wish i had a spare few quid last week!!!

no prizes for guessing why they took the shares instead of cash

Petrel Resources PLC
27 September 2004

Petrel Resources announces that it has issued and allotted 400,000 new ordinary
shares to a consultant to the Company in lieu of fees. Application has been made
for the shares to be admitted to trading on AIM and it is expected that
admission will take place and dealings will commence on 30 September 2004.




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

just received this e-mail from PET

Interims should be out tomorrow. The Iraqi Ministry experts are enroute to us.

-----Original Message-----
From: Jacqui Gallagher
Sent: 29 September 2004 15:46

Chris if you get this message its Leigh. Can you email me yours and daves numbers, had my phone stolen in Ibiza again! Cant believe it!!!!!!!!

ATTENTION all you PET investors...have a read of todays statement ( 30/9/2004)on oilbarrel.com....time to go out and spend your new found wealth.
price should fly today following this and other imminent news...good luck to all us brave PETS who have stuck through it

Crikey look at it go!

certainly is a good day for PET holders and it looks as if it will only get better!!!!

Especially if you bought last week (which I didnt!)