The hcl looks likely to come into operation over the next few months, will this improve the share price or will we have to wait for an actual PSA before any increase takes place? It looks like the UK and the US will wait until the HCL is in place first before they decide to start the pull out. I have also heard news that the contracts signed during the Saddam regime are now definitely going to be honoured. I`m not sure if this includes PET as there seems to be some doubt as to whether they qualify as their agreement wasn`t signed off by Saddam. A Swiss company has announced that they expect to be producing 200,000 barrels/pd by 2009 from their PSA with the Kurds. They have struck oil first time and have five more drills left to complete their programme. Nice if PET were in that position! Our time will come though, just a matter of hanging on in there!!

quite right and not only that .... if the markets stay jittery or worse (i reckon the latter) then second/third/fourth tier stocks such as this will take their customary exaggerated hammering

Cynic & Halifax,That's ok, doesn't sound like PET is for either of you.Place it on your monitor watch list and don't touch it with a bargepole.Better stick to what you know and play safe the two of you.

I like the stock,management,well run company & fundementals.I like the huge potential.I like buying momentum & volumes evidenced last few weeks.I like the chart.....................yes it is Iraq-Middle East there are risks,yes HCL needs to be approved and yes PSA(s) need to be awarded to PET to achieve high rewards which have been spoken about.

In investment life have had winners and losers & openly admit making some crappy decisions.

In my view PET is one of my potentially better decisons,possibly 'life changing', and already up 30%-39.6% based on average and cheapest purchase.If sp fell to 50p again would on paper be losing money-not that think it will,however,50p holds no fear balanced against high rewards. i.e more upside than downside.Resistances @ 70p @ 75p and @ 80p building on supports @ 75p & 80p?

Must remember not to be tempted to sell far too early.

It easy to think that PET is being ramped and over hyped.My posts may lead you to that belief. That's bb for you.Fact of life there are stocks and peeps where this happens 'pump & dump.'

Bulletin boards may point you at stocks to consider Trick and secret is don't trust what others tell you,even Directors,but through "your own research" spot the difference,picking the winners & investing early before the sheep.

Have provided ample info and links so that further research is possible.Two Video links together with most recent Company Presentation essential viewing and reading.

When Iraq Parliament went into holiday recess without approving HCL,sp was expected to drop back to 50p.It hasn't and hasn't despite general market wobbles instead sp has risen.PET bought heavily both UK and German Stock Exchange-GSE (various rumours as to why German/Iraqis in Germany buying) link to GSE is now provided here:

http://www.finanztreff.de/ftreff/kurse_einzelkurs_alle.htm?u=0&k=0&s=694395&b=0&l=276&n=PETREL%20RESOURCES%20PLC%20Registered%20Shares%20E

btw higher volumes usually Frankfurt led.

Money I have invested can afford to tie up for a few years and not bothered by short term fluctuations for example PET fell back from intraday highs 77p-79p down to lows of 57p-60p because of Gartmore sale.Overhang cleared,PET back on the rise breaking out within touching distance of Zak Mir's bullish stance & predicted 90p.

Can invite peeps to consider investing in Iraqi Oil via PET @ 60p-70p just like leading a horse to water.Up to peeps to weigh up risks to reward,make own decisions whether to "drink."

There have been many false dawns.Some holders have held for a number of years many from 2003/2004,sp stuck in a rut 30p-50p.In the words of another poster believe we are about to witness a New Dawn;consider buying 80p up to 120p.

Pays your money and makes your choices.

Yes PET is currently a minnow,prepared to risk working in Iraq for ten years and looking to beginning journey to becoming a major oil producer.

All that PET needs is oil field(s) with 'bookable' oil reserves i.e pre-production and value should then be reflected in share price.Same difference with Mining stocks. VOG is an example of how sp reacts.Unlike VOG, everyone knows billions of barrels of cheap easily accessible oil in Iraq and PET is well placed to benefit.Better examples of risers on confirmed oil reserves such as Cairn Energy-CNE and IEC mentioned in copy of post below.

Remember PET is neutral an Irish Independent as are neutral country Japanese giant Itochu PETs money backers.PET working in Iraq particularly Southern Iraq near border with Iran without any problems.PET enjoys extremely good working relations with Iraq Ministry of Oil and in Iran. David Horgan and PET known to & respected by Majors.............

Posts draw attention to companies for peeps to do their own research.Up to you whether punt,invest,trade or do nothing sitting watching on the sidelines.

PET has risen 30% approx.and up to 39.6% if took advantage of buying on weakness, since first mentioning it on Money am.FACT

Reckon potential upside minimum 500%-600% over the next two to three years.

Respected members within Investing community are suggesting upside even higher 1438% +(from 65p mid)

I'll be more than happy with 1 bagger 121p-130p and bonus every multi-bagger after that!

HCL when belately approved! PET should see excellent gains.Lest you forget law on Oil Refineries Law pre-cursor to HCL has been approved.

PET awarded PSA share price should rocket too.

To give some idea false dawns saw sp hit 165p and 125p respectively in excess of 100% on the day.Provides a taster of what is possible for PET with new dawns............imo prepare to witness rollercoaster days over coming weeks and months.

Live and learn about long term investment strategy.Please see post below.

Good luck in all that you do.Plenty fish in the sea but for me expecting PET to beat general market medium to long term and already sitting on a tidy profit.

AIMVHO,DYOR.

>>georgeski -- 4 Aug'07 - 20:27 - 88499 of 88522

Patience is the name of the game here, 3 years ago IEC were just over 40pence. They recently hit 15 before retracing to 10. I believe that Pet have equal or better prospects. I bought IEC at about 50p average and thought I had done well when I sold at 180p. After that I bought in and out on its rise but never maximised the profit I would have made if I had just stayed put. Lesson learned. I've been in Pet since mid 2004 and crapped myself a few times but now average 56p and staying put till they become a major oil producer. What the share price will one day end up at is pure speculation, but one thing I am certain of is that it will be a lot. My opinion of course

>pixi - 4 Aug'07 - 20:29 - 88500 of 88522


cubano4 - 4 Aug'07 - 10:22 - 88472 of 88498


yesterday the german share-info-letter "Taipan" confirmed his 14 goal and recommended further buyings.

********************************************************************************
The exchange rate is 0.674 x 14 = 9.43 per share. Dougie reckons 10.

>pixi - 4 Aug'07 - 20:37 - 88501 of 88522


georgeski

Post of the month!

Excellent post pointing out the obvious difference in return between short-term and long-term investment strategy.

lex .... i openly admit that i trade and only in rare circumstances hold shares for more than a few months ...... but three things ..... 1) it is never wrong to take a profit; no one ever lost their short that way ...... 2) it is always right to cut losses when a share misbehaves - BFC and SEO are classic examples ..... 3) judicious trading is a very good stretegy for maximising profits - IEC makes a great example, though it is not one i have ever bought (or sold)

I have held these since May '04, I paid 42p per share for them, cursed my greed when they briefly touched 157p, and watched them fall all the way back down again. I promised myself several times that I would sell them, but I haven't. I have the utmost respect for David Horgan and also the fact that there is a barrel or two of the black stuff out there. I am tempted to take some profit, (something I didn't do with AMER, still holding, and not fully with GOO, now sold) but PET could really take off from here imo, and I shall stay aboard, I just hope one of the majors do not snap them up on the cheap before their full potential is realised.
2517

Why should a major want to buy PET? ---- Because its Irish!

halifax--------I was thinking along the lines of the vast quantities of oil that may become available to PET, and the fact that some of the major oil co's need to bolster their reserves. It could be a cheaper way in for them. All imo of course.
2517

"may become" is the key ...... though for all that, sp putting in a sterling performance this morning

Yes cynic, I nearly put 'may' in capitals.
2517

Sterling performance indeed.
2517

PRO REFERENDUM MARCH AND RALLY
LONDON
SATURDAY 27TH OCTOBER

WWW.PRA.UK.COM

Heard that the Iraq oil law has been passsed, we have lift-off now

watching is good today...rumours pushing things along nicely..good luck all
watcher

Cynic/Halifax

Intention posting Money AM draw attention PET so that on peeps DYOR list.

Trust PET on you monitor watch list.

What a day. 84p-88p to intraday highs 97p-100p closing 94p-98p.Over 1.3 traded.

German Stock Exchange intraday up to 100p-102p.Over 600k traded

Target prices let's just leave it at multi-bagger.Added @ 60.5p.

Best research info on main advfn thread-skip & filter the rubbish.

Anyway don't want to influence you one way or the other "investing" in huge potential.

You'll know what's best for you.

For me long term hold.

melfaraj - 6 Aug'07 - 17:13 - 4520 of 4522

what a day.

"pet, added 11.6% to 96p with an offer price of 98p. at one stage the offer had hit 100p. pet has matured now. the recent rises have been more sustainable at double digit percentage figures, as opposed to 200% intraday rise which simply could not be sustained. i am now looking for pet to enter the 100+p range, where the big fish swim!"

Extract re: PET;Full post goto:

http://www.advfn.com/cmn/fbb/thread.php3?id=13457053&from=4520

LEX .... you are quite right; this stock has performed exceptionally well today in a strangely unsettled market - i.e. some stocks rose whereas others of similar ilk took a bashing ..... confess i still do not see why this stock is performing so well, as it all seems to be on hype rather than the actuality of finding commercial stuff AND getting it out of the ground ...... while that may very well happen, it must surely be at lest 2/3 years into the future and quite possibly a lot longer .... i am happy to sit and watch as i have plenty already invested elsewhere

CYNIC,if you scratch a little bit further below the surface all will be clear to see.

btw with oil its "bookable reserves" which can be valued, irrespective of date getting it out of the ground.Examples of sp rocketting on estimatec reserves look at VOG.

Here's a hinter;take a look at the chart for Imperial IEC.

lex1000 - 6 Aug'07 - 19:58 - 89137 of 89138 edit

PET: TOPLISTS

7th on list of 1 Week Price Breakouts Up
4th on list of 4 Week Price Breakouts Up
3rd on list of 12 Week Price Breakouts Up

AND

2nd on list of 52 Week Price Breakouts Up


Can anyone afford not to have a few% of PET in their portfolio? In my view PET a "must have."

More and more money coming into PET.Those who've waited on sidelines stirring into action.......50p-70p running away 90p-100p new target area.

New Dawn and urgency to get in and be holding pre-HCL and all that flows after HCL approved.

Greater awareness and realisation PETs full potential in Iraq is literally huge,potentially mind boggling for an Irish minnow.....and mentioned target prices not pie in sky but a real possibility come probability.Peeps beginning to believe and know between 5 and 20 on the cards.Sentiment at an all time high.

Breakout and T/A followers will be attracted by PET potential to go 120p, 150p 200p, 3, 4, 5.....................................7.50............10........whose going to worry if paying a few pennies more.Sub 1 looking even more attractive than before.aimvho.DYOR

though iraq is undoubtedly a singularly important oil producer or at least potentially so as and when the political situation is stabilised, a stronger still case could be made for khazakhstan which almost certainly has even greater untapped reserves, and is arguably a great deal more stable ...... however, both areas are very high risk for the potential investor for all sorts of fairly obvious reasons.

thus, there is no more reason to buy PET or VOG, the latter having shown what a pig's ear can be made of what looked like sure-fire, easy to extract multi million barrel reserves .... the rise and demise of VOG's sp tells it all, so who says that PET will be any better?

as for IEC, the dangers of dealing with the russians is again highlighted ...... for sure sp zoomed up to 15.00 .... but has now crumbled back to 9.00 or thereabouts, purely on rumoured misdemeanours ...... who knows if the next sp move is to be rocket or stick?

and while composing the above load of rubbish, am glad to report that Dow has surged (even more than predicted by smartarse here!), which I am sure has proven a lot more profitable than had i bought the recommended slug of PET ..... sorry to be so smug, but not that sorry!