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

Interesting!!!


Do we know if the western desert area mentioned is the license that Petrel held
prior to the War , and may still have an interst in??

Shell buy out of Petrel or Silent partner???




Royal Dutch/Shell to provide technical assistance for Iraqi gas projects
AFX


LONDON (AFX) - Royal Dutch/Shell Group said it is to provide technical assistance to help Iraq develop its gas industry.

'We have been invited to provide assistance to the Iraqi Ministry of Oil's ongoing gas planning efforts,' said Shell spokesman Andy Corrigan, adding 'It's just technical assistance.'

Iraq's oil minister, Thamir Ghadban, had earlier told an in-house magazine, Shell in the Middle East, that the Anglo-Dutch group had provided help in the past 'and we are now working on an arrangement whereby Shell will provide technical assistance to Iraq's oil industry.'

He added: 'Shell has also put forward a proposal to help Iraq develop a Gas Master Plan, and I have given the go-ahead for this study to get under way'.

'Gas is very important to Iraq today and will be even more important in the future. It is unfortunate that in the past the value of gas was not recognised and during oil exploration and production activities gas was considered to be an inconvenience and was flared off.'

He said several gas fields had been discovered in Iraq, some of them more than 50 years ago, but not yet developed.

Starting next year, Iraq plans to develop two of these fields and to carry out studies on another gas field in the Western Desert, close to the Syrian border, Ghadban said.

'In fact, we believe that Iraq could be one of the region's big gas exporting countries and that Iraq might be able to contribute to the supply of gas to southern Europe in the future.'

Shell does not have any workers in Iraq and its management has stressed that it will not send staff to the country until their security can be assured.

morning all, hoping for another great day for PET as news can not be too far off now, someone reported on another thread that they had called PET yesterday and DH was not there, only JT answering the phones as they are understaffed in the dublin office at the moment, wonder where 8 of their staff are at the moment?

Tokyo

Let's hope out buying the champagne for when the celebrations begin!

sandrew64: Already on ice!! John

Ive topped up again, this morning. Any sign of weakness is an opportunity to
increase for me, took full advantage at 80's dip!

So when are they back then, they've been out for a few days now... Do we think they will be back for the announcement or do it from there? Wish I had more cash!

107606 - John Teeling is still in Dublin, so no reason why he couldn't issue the RNS, not sure if they could keep it quiet, if massive buys start going through or continued chucks of 10,000 go through you'll know that some news has leaked.

Tokyo

Regarding possible future PET's... Anyone had a look at Gold Oil (GOO)? Looks nice, a good RNS yesterday re their future plans. Could be the next one, or maybe the one after the next one, but looks nice to me, any opinions?

107606 - Yes also saw the news, had it on my stockwatch since yesterday, a possible stock for some PET profits will keep watch for the moment as all funds are tied up in PET.

Tokyo

Have gone balls out on this one too, Tokyo. Light trading today, guess people are now holding their breath and waiting for an RNS. This is on that many many will reap rewards from.

All mine is in PET too so no new ones for a bit at least!

Don't think I've ever seen this sp sit still for so long.It's almost more unnerving than the usual rollercoaster!

Don't think I've ever seen this sp sit still for so long.It's almost more unnerving than the usual rollercoaster!

You know when a rocket ignites its engines and sits still on the launch pad for a few seconds before shooting off into the heavens, well I guess this is bit like that...

Edging up this afternoon, is that the MM's i wonder, doesnt seem to be that much activity to warrant the few clicks?

probably a delayed buy

Of course these negotiations are falling during the Muslim 'Ramadan' period (I think that is the correct spelling...apologies if wrong), which could have some impact on negotiating times, and therefore when announcements might take place? Just a thought.

Although it is correct to say Ramadam is being observed this month it should not affect business, in fact as its a fasting time Sun up to Sun down there will be little need for lunch break! However I sure those observing Ramadam will insist, with their usual hospitality, that non fasters should take lunch.
Negotiations will cease at Sun down that falls about now 16-1700 hrs uk time. The guests will then be expected to break fast as a party. So if they have reached any signable agreement RNS will not carry it until 0730 UK, Petrels normal time to release, just in time for our breakfast!!
Failing any news' we can expect another day like today, feeling a lot like an expectant Father in the maturity suite, nervous and worried but with the confidence that the hard work had been done at conception leaving only the logistics to be arranged.
Good Luck to ALL

Thank you scottie7...I enjoyed your comparison of the 'tension' currently being experienced by all those LONG of the stock!!