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

dexter - oops made a mistake on the 1st article this morning it was Iran and not Iraq, the perils of researching, before I've had tea or coffee!!!
cheers for the correction

Hi all,
just got this in my inbox from the Telegraph web site.

Petrel Resources tumbled to 76.5p in early dealings on rumours that managing director David Horgan had died in Iraq while visiting the Ministry of Oil.

He later denied the rumours on a bulletin board, causing the shares to rally, closing 20.5 higher at 108.5p.

Volume was a hefty 3.7m shares

wilbs

Has anyone noticed regular buys of 10000 coming through, the same thing seemed to be happening yesterday, or is it just me.

The 10000 buys will be the Bots.

Interesting that they are in on this share, normally only operate on the FTSE100
top 6 companies.

I will watch this closely as they can be manipulated .

Need to find out which Index they are following , as this is the Norm.

But who knows with PET !!!!!

If those 10,000 trades were bot trades they would be maked as AT trades.

Excuse my ignorance, but what is a bot trade?

Sandrew64,
i would guess it means you have to sell your arse to fund more shares!!!!!!!!!,
dexter

Nice one!! lol
Has something happened or about to. From 2 pm lots of buys.

bot is robot or automatic trade.

don't worry I had to ask once, too!!!!!!

I bet the CEO had a good lunch.

Probably started a mini buying frenzy.......

See things are still uncertain here.

Still interested and still watching.

Good luck all.

:-)

Lot of late sellers went thro', must be wanting to relax over the w/e. z

Has anyone heard any new re; visit to iraq????

Tokyo and Dexter, after a very tensed week are you two calming your nerves down this weekend, nobody posted anything on Pet yesterday, where has everyone gone?, or have they given up due to the stress it's causing!!!

Rkausar - Must admit there is a fair amount of stress involved with this share, thankfully Dexter and myself got in quite early, so although our profit was being eaten away last week, not really losing any of our initial investment, although seeing your paper profits disappear is not on my list of favourite things to do. In the e-mail one poster received from DH it simply said "KEEP THE FAITH", sounds like excellent advice to me, I haven't posted for a while on here as nothing really to post, there was the stories I found on Friday, but nothing yesterday, although here is the story that we have been waiting for, from the Sunday Times - looks like the Share price is ready for another lift this week.

enjoy people

Tokyo

http://www.timesonline.co.uk/article/0,,2095-1312761,00.html


Anxious Petrel officials oil cogs of Iraqi ministry

RECENT volatility in the Petrel share price indicates the degree of nervousness surrounding the stock as it awaits a decision from the Iraqi oil ministry on its bid for a licence in the war-ravaged country.

The nail-biting, however, is almost over.

David Horgan, Petrels managing director, is leading a team of seven executives to Amman in Jordan this week to thrash out final details with 11 Iraqi officials who were in Dublin for the past three weeks.

But even if Petrel is successful what kind of contract is on offer? The first option is a cash contract, under which Petrel will be paid by the Iraqis to build and operate a site with a fixed profit from the deal.

The second option is a risk-sharing arrangement which will see Petrel supply the finance in return for a profit share. This is the one investors are waiting for as Petrel has already secured a $250m line of credit from a Japanese trading house.

Thanks Tokyo....by the end of the week maybe?

I was too busy playing with money on Friday to post, bought early and sold at the close. About 12% in a day, not a bad return at all. Nerves shot to bits though! More rises this week one hopes...

Thanx Tokyo, nice to see your still around, well guys, lets see what next week holds for us!!!

107606, nice to hear your playing with money, I have'nt had such luck since the day I started trading, for some reason I always get my timing wrong!!! Never mind hopefully Pet should make up for all the dissapointments I've had in the past!!!

Well I have to say PET has been my first goodun. First bought at 50p, and topped up along the way. I have a feeling this could be a good week. More day trades possible, definitely possible on news if you get there for the open and sell when youre happy. Thats the key, if you want to make money in a day, dont hold and hold for the promise of more, if youre happy, sell. And as the name suggests, never hold over night! Youre in more control if you do it all intraday...