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

hawich - thanx no I did'nt foget the point! 435p by July + thats 1400%, time will tell but it's up 15% today a good start, good buy volume also today..

I was in on Mon.

well just jumped in at 31p, but at 435p, that's still 1400% for me. hehehehe

Well even if the returns are still not that high, this still looks like a company to get in on.

Tokyo - 435p I'm just the messenger!! :o)

Chartist- the hehehehe afterwards, meant I wasn't expecting it to go that high, but would be very grateful if it did. Have read some previous threads on this stock and there were alot of pesemestic comments on there, warnings that this stock could quite easily drop down to 3 pence again. I myself don't think that possible, as if they can drill in their two fields that should bring in alot of oil, and as the only European firm able to do so, have a competitive advantage at the moment.

Although with the Americians still over in Iraq, and the threat of Osama Bin laden still very much real, this is by no way a sure thing, but after waying it up it's a gamble that I was willing to take, believing the odds are in PET's favour, lets hope the stock keeps rising and we DO meet your target. If we do I for one will be very grateful, if we don't, then well we all know the risks in this game!!

Chartist2004 - Why do you say July,as it appears they will not be drilling until early next year. see part of the newspaper article below -

"David Horgan, Petrel's managing director, who like Mr Teeling is a Harvard graduate, plans to travel to Baghdad later this month.

If the UN sanctions are lifted, allowing the company to import key equipment, he wants to conduct fresh seismic studies in September.

By early next year, Petrel could be drilling what would be the first well in the western desert for more than two decades."


Still feel this is a great stock to get in on. Could you explain your reasoning, as I feel I'm missing something here


Thanks

Tokyo

THATS "IF",....!THINGS GOTO PLAN!?!VERY,VERY VERY RISKY!

S A W,

I agree, PET seems pure speculation at present.

The thing is if they do win a contract it will dwarf the market cap and have a huge upside, so that is the gamble. I do not think that Iraq itself is maybe quite as massive a risk long term (obviously short term it goes without saying it is totally dodgy!)as it might seem on the surface.

Obviously it is a punt, but time will tell..........

IT'S ALL POLITICS WHICH USUALLY INVOLVES LIES,SCANDAL AND THE TRUTH EMERGES YEARS LATER TO BE SOMETHING TOTALLY ABNOXIOUS!WHEN THINGS SETTLE THE TRUE SHAPE OF THINGS WILL EMERGE HOW LONG THAT WILL TAKE MAY BE BETWEEN 3 MONTHS TO EVEN A COUPLE OR MORE YEARS!IT'S A UNIQUE SITUATION WITH RISKS WAY TOO HIGH!

up yet again, people out there seem to think the risks are worth the punt!

S A W.
Do you have to keep shouting.
Cheers.

Shall I get my trumpet out now or shall I leave it till July? ;;;
Good investing all..

Don't count your chickens untill they are hatched.Rule no.1 minimise risks!
I DON'T WISH TO SOUR THE OPTIMISM.I AM ONLY WELL WISHING!

Thanks - My chickens have hatched and growing well thanks :o)
wether they will grow 1400% into hens only time will tell!!

If the right info.comes out after THIS weekends' oil conference then u'll have golden eggs....www.uruklink.net/oil/....ie. ref to contractors.

oh oh a big sell's gone in ...250,000 WHY??????

all you muppets trying to push this stock .they have won a oil deal in iraq big deal.how are they going to get the oil out ,do you think people are going to move to iraq with all the killings and unrest ,i would not its a big sell un till the problem in iraq is back to normal.and the idiot who says 4.35 by mid summer i hope the shares drop to 10p .all it takes is simple logic to think thinks through,invest with reality and not your head.

Why 10p why not 5p, you do not make a case for your drivel.
Cheers.

Dear Chartist - you are the man with the research here, could you please post the facts behind your predictions for the 435 pence target. I'm sure it would be interesting reading for both the believeers and non-believers alike. I for one feel that there is atleast 100% profit left in this as long the hype keeps carrying it. Very much looking forward to seeing what the market is going to do with this stock over the few weeks.

Tokyo