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, even my misses has got in on the act, she calls it shopping (for PET shares), because when the news breaks thats what she is going to do. another ground hogger coming up.

Just found this,at least it prove Sonoran are not in the frame for these tenders.

Press Release Source: Sonoran Energy, Inc.


Sonoran Energy Forms Partnership to Develop Oil and Gas Opportunities in Iraq
Tuesday October 26, 1:15 am ET


LONDON--(BUSINESS WIRE)--Oct. 26, 2004--Sonoran Energy, Inc. (OTCBB:SNRN - News) President and CEO Peter Ostenfeld-Rosenthal announced today that the Company has signed a Memorandum of Understanding ("MOU") with a company operating in Iraq to develop oil and gas opportunities in Iraq. The initial MOU with Al Azharan Group will lead to the establishment of a partnership operation specializing in the oil and gas exploration and production activities within this lucrative Iraqi market.
Al Azharan ("AZI") is a well-established company in Iraq with over 28 staff located at its main office in Baghdad, and a further 350 employees present at the Company's various projects throughout the country. AZI brings to the table an extensive network of high-level contacts in Iraq's Oil and Gas sector, as well as within the local government. Currently, AZI has over US$ 40 million in contracts in progress, with an additional potential of $130 Million under current negotiations.

"The experienced team at AZI shall play a vital role in assembling a portfolio of oil and gas assets for Sonoran to firmly establish our presence in the Iraqi market," said Ala Nuseibeh, Sonoran Energy Executive Vice President, Middle East, North Africa, and Caspian. "There are significant opportunities in Iraq that the Company can tackle, and our MOU agreement with a strong local player with proven record of delivering results shall prove necessary to the success of Sonoran Energy in that Country."

"We look forward to our association with the Sonoran Energy management team to develop mutual oil and gas opportunities in Iraq," said Majdi Khayyat, Al Azharan Country Manager. "The Iraqi oil sector is a perfect fit to Sonoran's technical know-how and experience."

"We are very excited about being strongly represented in such a lucrative oil and gas market, which is a first step and important catalyst to the successful identification and winning of major projects in Iraq. We truly believe that AZI, with their strong local ties, to be the ideal partner to build a successful operation in the region. We believe that this shall be accomplished through working closely together in targeting the most interesting and profitable oil and gas projects available, thus setting Sonoran Energy to be an important player in the Iraqi oil industry once the political and security vision clears for international investments," said Peter Ostenfeld-Rosenthal, Sonoran Energy President and CEO.

Tokyo: you were a little tough on MORT - its bound to be a common attitude; the share price could be held back somewhat, even with the contract, until drilling has started. Interesting plan of Iraq a week or so ago which showed that the main problems are confined to three districts/provinces - we get such a distorted view over here with the focus all one way. What is also clear is that the interim government are getting on with running the country, including boosting oil production. I liked maddoctor's quote earlier that anyone must be mad to work in Iraq. Either mad or Irish!

Eric

Was that a 100,000 buy .?

WOW' it was.

EWRobson - 26 Oct'04 - 09:16 - 790 of 790

Tokyo: you were a little tough on MORT


Not really NO - too many idiots are appearing on PET boards, it maybe a common attitude but a little research would give you your answer, instead of preaching it on a BB. This BB has been free of idiots de-ramping away, and I for one would like to keep it about news and backed up opinions instead of rants (positive or negative)

Tokyo

not one to speculate on security or troop movements. The Black Watch have been relocated, to cover a major road route to enable much needed supplies and frieght flow around the big city. The american services have clearly failed to do this. The progress of the feel good factor will make the locals appreciate that progress is being made and the elections can't come fast enough after that. The security implications after a stable period of time are fundamental to industrial improvement for management and work force. Sorry to woffle on, but hip hip horray for the professional british army and the bussiness implications thereafter.

marti

Marti,

Without doubt the British Army are miles ahead of the US in 'policing' through hearts and minds, afterall we have had plenty of practise. But I would countenance against believing for one moment that they will change things around in the short term. Don't forget that the coalition is an occupying army and that they will now be up against Shia rather then the Sunni population. You don't have to be a rocket scientist to realise that the Black Watch are now up against a significant minority who will unfortunately inflict casualties on our troops. I just hope and pray that these will be minimal, or even better nil

Tokyo,

Yes you were rough on Mort. If PET do get their contract(s), I am sure that PET personnel will have to be employed on the ground. You can't have an interest and not be represented. So, I think Mort has a fair point. Just because, not everyone agrees with your perspective, doesn't mean they are not allowed an opinion, even if in your view, it is ill researched. Posters who are critical of PET, (or any other stock), are not necessarily derampers, so rather than believe that you are always right, accept your view will not always be unequivocal.

Regards

PTH

PS. Pleased you survived the earthquake!

Let me make something clear, I'm not opposed to anyone having different opinions to my own - that is what these BB's are for, what I am against is having it turn into something like advfn, where uninformed people are posting such rubbish in numbers that it is becoming ridiculous, and we have to go through 500 posts to find some useful information.(Why buy into PET if you think they will fail, even if they get the contracts, that is how I read his post, and there have been to many of those on advfn) If Morts post was done with good intentions, then to him I apologise, but PET have already made it clear they will use local staff where possible, they will of course use their own geologists and those from the Jordian side, these people are already out there and have been from quite a while now, a quick look through their website and e-mails posted here would have told you that.

anyway enough on the subject I look forward to reading well informed posts/opinions from the rest of you, as I believe we are not far away from an announcement.

PRE another Teeling/Horgan company have their AGM on Thursday, it will be interesting to see if DH is able to come back for this, a city rumour is that he is already on his way back with good news, but phone calls to PET about this have been met with "No comment", be interesting to see as a few large buys went through today, but the price has stayed low...................

good luck to all PET holders

Tokyo

Tokyo, I for one am with you. I gave up on ADVFN for exactly that reason. Hence I am here! Topping up any time soon?!

107606 - funds clear tomorrow, so the FINAL top up tomorrow, after that I truly have no more funds left......unless how much for a kidney/liver?hehehe

good luck all

tokyo

10706,

Quite likely its time to top-up if the following is true posted on SC (via ADFN). Please note though that the poster has no concrete evidence for this and would not claim to have any he is as interested as the rest of us. However "there is no smoke without fire". Please do not construe this as ramping. Make your own decisions. Obviously if anyone can come up with any evidence to back these claims up then the sky is the limit as far as SP!


RE : PET -----
***********************************
citywhispers - 26 Oct'04 - 09:55 - 27268 of 27304

ALL...just been given the nod that DH is on his way home,,,(WITH TWO SIGNED CONTRACTS) This is unconfirmed.....???? also been told they have pulled of somthing spectaculer regarding block six....plus more.....just tried phoning PET......NO COMMENT....can anyone ellaborate......?????

*********************************************

Maybe rumor , maybe fact! First 100k buy this am that i have seen whilest being in this share! He`s quite a reliable source on advfn, BUT he`s not confirming it himself...still speculation and rumor but you heard it here first! lol DYOR

Well, if this is ture... Tokyo, get that cash through!!

that was the rumour I was talking about earlier, but afraid at the moment it is just that "a rumour", Wouldn't it be lovely if it were true, but wouldn't advise anyone to go out and buy on the back of this. (Perhaps a nice phone call to PET trying to speak to/meet with DH at his earliest convience, although not sure they'd fall for it!)

107606 - Hahaha yeah the cash needs to hurry up, but it takes 2 working days to clear through the comdirect system, as I'm an expat, looks as if I may have missed the drop as it has turned blue, but still happy to top up.

Tokyo

Tokyo - 26 Oct'04 - 13:52 - 27501 of 27501 edit

citywhispers - 26 Oct'04 - 12:10 - 27394 of 27476


A Joint venture announcement is expected...Involving a company called heritage oil and gas.....Block 6 Sudan....?

A tender involving Blocks 7713 and 2714 A+B in Namibia......?????

Tokyo, barty, bahouse, wr


Reading through the posts the old rumour mill seems to be in full swing, DH is back in London? Have PET actually confirmed this to anyone on this thread?

I read the old report about PET & Heritage oil, if they were the 2nd international company, that would be so fantastic, only time and alot more patience(even if it is only one more day) are gonna tell

article is here -

http://www.mbendi.co.za/indy/oilg/af/ug/p0005.htm#top


Tokyo

People have been ringing PET and it is reportedly confirmed that DH is indeed in london now. If so we can expect an RNS soon

I believe that DH is now firmly back on terra eire. Writing up a nice RNS for tomorrow?

Wow we managed that simultaneously! Oh its getting very exciting now!!! Do you still have two days from now before your money goes in? I do hope you get it in time, cos this may explode at any time...

no sent the cash on Monday following the drop, so should clear tomorrow morning, hopefully in time, but if the RNS beats me, I'll be happy either way

Tokyo

Could still get in early there will be along way to go through the day.

Just thought I should share some very sad news, as I'm sure you havent heard it yet in Tokyo. John Peel has died at the age of 65 on holiday in Peru. Even if you are not a fan, you must know of him, so I thought I'd share the news. I'm a bit sad now...