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!!

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!

Cynic,

Big difference VOG v Iraq.Iraq has oil,billions of barrels,cheap to extract therefore big risks of finding oil in the first place do not apply.VOG imo always highly speculative,crap company, crap investment one for swing traders with experience.i.e purely a trading play and not an investment.

Purpose of mentioning IEC was to look at chart not Russia.My research leads me to believe PET potentially will mirror rises to 5-6 where profit taking inevitable then rise to 5-15+.

Bet you haven't bother looking at video links provide for research & lazyboys not keen on reading.

We have again completed a loop Cynic.Whatever you do,do not under any circumstances touch PET with a bargepole as you are risk averse. Instead watch my investment. PET comes with a "wealth warning"-potentially make serious life changing money.LOL

Shares go up and down...................aimvho.dyor.

Recent purchase add PET on 23/7/2007.

20k @ 60.5p 12,233.50 in less than 1 month up over 50% at close today.

20k @ 100p 20,000.

20k @ ???p .........

btw hold more than 20k.

risk averse i am not, or i would not have tidied up very nicely on Dow this evening (yet again!) .... indeed if i were risk-averse, i would not dabble in stocks and shares! ..... suggest you research khazakhstan .... as for VOG, until its demise, the world and his wife thought it was going to be the next BP! ..... i am sure you were really clever and perceptive and shorted VOG at 246 and still hold that position? ...... no? .... why is that?

by the way, never be afraid to take profits nor to cut losses .... that, especially the latter, is the real way to make money.

btw, this .... "cheap to extract therefore big risks of finding oil in the first place do not apply" is total non seq!

Oh dear......................

I don't short.Did trade VOG banking quick profits.Posted timely warnings on thread too;in fact several warnings.

Agree no harm or fear in bank profits and cut losses. Let the trend be your friend...run your profits.......bank profits too early miss potentially higher rewards.

Point is highlighted PET @ 66p for anyone to consider DYOR.Subsequently anyone could have purchased @ 60.5p like I did or in fact available slightly less sub 60p.

Take care.All the best.

regards

lex:;o)

btw Permission to monitor watch 20k @ 60.5p have a laugh or two at my expence.Meet back here in a years time.

You big fish,me small fish.Size doesn't bother me.% rises the same irrespective of size.

something you didn't pick up on ...... cynic doesn't know his stan from his oliver! ..... biggest reserves of anywhere other than perhaps the arctic are in Turkmenistan NOT Khaz!!

and i am no big investor either, though that is always a matter of degree