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

Calculations are fine Universe, but does anyone have the any idea of when we are likely to see any form of statement, any guesses anyone??? one week, two weeks may be a month, or even two months,!!!!!!

I would hazard a guess that we will get an official statement from PET as soon as the CEO returns from Iraq, paerhaps before if communications are good between Baghdad and Ireland (just kidding...it's just that if the deal is signed I am sure PET will want the whole world to know! Hence a lot of dicussion centres on the Iraqi trip dates...which I think we have agreed (thanks to CG) to be next weekend.

As for the impressive calculations by Universe...I need to go through the figures and will get back to you with any major variance if I see one...but I think a low PE ratio is a good starting point at this stage....plus a rework of the Oil price at say $25, $30 dollars....one needs to look at the lower term average for the price rather than the current price explosion.

On the latter theme, it has been reported that Japan is short of winter Oil stocks...as is the US. The US Weather Bureau are predicting a very cold winter...and China we now learn only has 20 -22 days storage of black gold to see it through any supply distruption. Now this is not an Oil thread...but methinks we have a real underestimate of the World's needs for this stuff...and the futures price could keep climbing for some time yet!!

Can any one tell me how to save the capitabl gain tax?

I know investing to AIM share can have taper relief.

for example, total profits:

0-1 year holding: 100%
1-2 year holding: 50%
2- THEREAFTER year holding: 25%

then less capital gain allowarance annual 8200.00 currently

but

for example, if you get 100,000 profit from PET share within only 12 month trading, I think you need to pay (without considering PAYEE and persoanl allowrance etc)

100,000- 8200 = 91800 * 40% = 36,720.

So earning 100,000. you need to pay 36720.

It is too much.


can any one teach me the ways how to save this big chunk except for the AIM tap relief and allowarance known by anyone?

because any tax due will be actually paid to Inland revenue before Nov next financial year, so there are 6 - 18 month for holding this tax due if you realise this tax due within the current financial year. if this is a big chunk, you really need to consider its value.

For example, using 36720 go to horseracing/spread betting, if you win, you can use the free tax betting win to pay off your tax. if you lost, can that loss from betting be tax relief?( I only heard betting profit is free-tax, but not sure about betting loss can be tax relief?)

another example, using this 36720 to invest another AIM or Ofex or whatever to defer the tax due ?

can any experts tell me what to do? any ways legally?any kinds of LEGAL ways for saving capital gain tax from PET profits?

big money gone is always very sad.

Universe...talking about counting your chickens, you have just invented counting your pets
Still at least PET have more chance of winning a contact than Spurs team have of getting into Europe ( unless of course they win a competition where the prize is eleven free tickets on Eurostar)...anyway stay the supreme optimist mate
As for that guy drunker50...good on yer sport...are you still offering the 10/1 about no contract for PET...IF SO please send me your detials as i want 2 grand on at 10/1....that way I am on a ten bagger if they dont get a contract or a ten bagger for my shares when they do win contracts....sounds like a shrewd bit of hedging

lets not soil the name of spurs on this thread...."one day" may not be so far away.
We could do with some news update to keep the share bubbling. Usually no news tends to see prices slide especially as there is a lot of froth in the recent price until news becomes substantiated.

at least they have stabilised at circa 125 to 130 the last 2 and half days after all of the earlier euphoria
I am sure that piston was just having a tease as it could be worse, we could be Scotland fans and then how would we feel.

Interesting e-mail extract from David Horgan on iii PET thread...Sounds like so far so good!

The stabilising is reassuring but my greed is getting the better of me as this has such enormous potential short and long term.
Excuse my spurs sensitivity but having played crap for ten years+ it would be nice to think things are on the change?

I like the look of spurs this season...

Salkeldjp could you pop it on here?

Afternoon all,

Looks like Japan are happy to continue building strong relations with Iraq

hmmmm...... Japan & Ireland building up strong relations with Iraq, now I know that means something for us.......now, what could it be? answers on a postcard to...........


enjoy the article

Tokyo

Japan, Italy agree to cooperate on postwar Iraq aid
MENAFN - 06/10/2004

(MENAFN) Japan's new Foreign Minister and his Italian counterpart agreed to cooperate and work together in providing reconstruction assistance to Iraq, Kyodo News reported.

The Japanese minister said that Japan is also seriously working on Iraqi reconstruction through its economic cooperation and deployment of Self-Defense Forces troops in the southern Iraqi city of Samawah.

10706,


Re your request for e-mail extract from D Horgan - here you are! (Your comments the other day about smashing piggy banks and turfing out sofas made me laugh the other day! Keep it up!!)
Can't be long till lift-off now!

best regards

JS

The extract is as follows:
Everything is going well and the Ministry officials are helping us out to minimise personal risks etc. They are excellent professionals. Our Nominated Advisor says not to comment on dates until we can notify all shareholders simultaneaously. Regards and thanks for your support! David Horgan MD Petrel

-----Original Message-----
From: Maiden Over(work email removed)
Sent: 06 October 2004 18:55
To: 'david.horgan@CooleyWhiskey.com'
Cc: 'davidhorgan@CooleyWhiskey.com'; David Horgan
Subject:

Dear David

Apologies for the intrusion but as a shareholder I wonder if it would be possible to enquire when you are likely to announce whether we (you) have secured the 3 contracts in Iraq. There seems to be varying speculation so I thought I'd go straight to the horses mouth. "I dont know" is a perfectly acceptable answer as are balance of probability answers ie in a month probably or this time next xmas!

Many thanks for the information as I am sure you have your mind on slightly more important things at the moment!

Regards and good luck

"They are excellent professionals. Our Nominated Advisor says not to comment on dates until we can notify all shareholders simultaneaously."

do we more spelling out 1 or to contracts are already in the bag. Did Mr Horgan need to be praising the iraqis in SUCH TERMS ("excellent professionals") if they were tiring him with negotiations.

Also "...not to comment on dates until.." We are talking about dates now, aren't we?

just keeps looking more positive everyday

Tokyo

Thank you SALKELDJP that is just what I wanted. And I'm glad i keep you amused, i try my best! I want to close my eyes for a week and see what everything looks like when i open them, but i cant help peeking!!!

107606,

I know the feeling! I went for a check-up at the doctors last week for a blood pressure test. The machine must have been broken because he said it was fine! How could it be? With PET about to blow (again!) the suspense is incredible!
JS

A nice little end to the day, 3.09% to the good. Damn looked again!

107606

I also went to Diss High. How old are you? (if you dont mind me asking).

Were you there in the days of Mrs Kooij?

Wilbs

Hi Dexter.

Diss is a bootiful place. I got onto PET when they were 29p and have topped up along the way upto 62p. Imho I think Pet will def get 2 contracts and block 6 is in the bag. Not sure about the third. It would be great if they got all 3. I am quite a novice at this and am learning loads each day. Yourself, Toyko, Milidog & Bahouse seem to talk alot of sense and are here for the same reason as myself and many other PET holders and that is to see PET fly and it is always a pleasure to read your posts. THANKS!! Im gald to see the back of the time wasters on this BB and on others.

Regards,

wilbs

Nothing of any great relevance to add except if this decision does not come soon will be spending all of possible proceeds on botox and plastic surgery to repair damage to fingers ( nails went ages ago) and wrinkles ( haven't slept since the calculations started) and I've only had this holding a week! How on earth have you people survived for months...???

Posted this on the ample thread, thought I'd share it with you guys as one poster is really knocking the current SP saying it is over valued

Alot of interpretations of the slides going on else where, and sorry I don't agree with most of your worries, although I can honestly say I have read the whole report/slide show, have you all? Lets take a look

"Present Cirumstances implies a Value per diluted share of $1.5 or 83p. " (this is the sentence that worries most of you, is it?)

now please go onto slide 19, this reads

"price range 5p-83p, current price 83p."

then we turn to slide/page 20 and we see a graph from 30th September 02 - 30th September 04.

Just having a wild guess here, but do you think perhaps maybe, if these slides were released today it might read


"Present Cirumstances implies a Value per diluted share of 133.5p. "


When investing in companies such as PET it really does pay to read the whole report and not just the pages that people on BB's point out to you.


If "Present Cirumstances implies a Value per diluted share of $1.5 or 83p. ", then the price would have dropped back down to 83pence until the 1st contract was guaranteed and would not be hoovering as high as it is.

It truly is there in black & white, I can not disagree, although also there in black & white is the date 30th September 2004, and when did the Iraqi officals arrive for urgent talks........oh yes at the beginning of October.

Present Cirumstances not being the same today as they were in September!!!!

Well that's my pennies worth, feel free to shoot it down ,if you think I'm way off, but reading between the lines of all the e-mails, reports and the RNS I don't think I am. I'll be holding for alot longer and not panic selling because someone else thinks the current share price is too high.


Tokyo