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

Just read the news report, always used to listen to his radio show when driving from Bournemouth back up to Leeds when I was a student, He'll be sadly missed, feel a bit sad myself now

It was somewhere he always wanted to go and he was with his wife, comiserations to them all.

Tokyo,

I totaly agree with you re: postings on this board. We like to hear positive thoughts and opinions. Anybody who has a problem with that should not post at all.

By the way guys whats your opinion on GOO, it's up 10% today????

Christ almighty!!,
Just come in from manicuring the gardens(well cutting the poxy grass!!),and the bb`s are rife with rumour.If DH is back,i would think there would be something issued ASAP, if only to give them some peace and quiet to run their other companies!.
Tokyo, have you upset anyone else today?, most unlike you to have a go!!, good luck with your buys in the morning.

I see what you mean about the Advfn bb, i posted about Sonoran this morning and they did`nt pick up on it until late PM. it`s good to have a laugh , but we do need some serious stuff.
Dexter

rkauser

I have been ahealthy advicate of GOO for a while. Expect to see the price see saw a lot until any news is released, but they have a massive potential and I think that within a year at least some of it will be realised. I think that at the price they are at the moment, they are cheap as chips and will win for you in 2005. That is my opinion. But don't expect a quick buck out of these, it may take a little time, and as i said the price will see saw so you may be up one day and down the next... Sounds like another share I hold...!

Tokyo, over to you!

Tokyo

In passing; accept that you, Dexter et al, who have been doing a terrific job are entitled to swat those you feel are waspish. Main point is that I hadn't picked up the link from Horgan to PRE. Looking at statement of results, the operation is very credible, successful and probably under-valued. Allays any doubts about whether Horgan is playing his hand optimally. Sitting with a nice hand myself - thanks to this bb.

Eric

Hey Tojo resident expert of the bb where are your manners I was not deramping and as far as the work force goes you still need people to show the locals what is required they need supervising. I take it you are white collar man and presume the rest of us are not on your intellectual level, as you say idiots well just let me say this thats ok while you are in the land of the rising sun but when you return to dear old blighty, myself I am 5'3" tall of average build dont live far from heathrow and quite willing to meet you on your return at xmas please do leave details of your arrival look forward to seeing you

Mort
Without wishing to become embroiled in your dispute... I for one,and I am sure I am not alone,really appreciate Tokyo's opinions and input on this thread .
I'm sure we all understood the point you were making on your last post,re: the security situation in Iraq and you are entitled to your opinions,.....BUT please do NOT use this thread to make personal attacks on it's members. If you have something constructive and useful to add fair enough, if not why bother?!?
S.

Final top up done today, although on-line max was only 1500

as for Mort......not even gonna bother

Tokyo: Well done...close shave for you! The price certainly has an upward momentum today! John

Thanks John, thought I'd missed out on the drop, but if news from the other side proves to be true, i.e. the city rumour that DH is now back in London with 2 contracts and news on block 6 (Only still a rumour in my eyes, but if it is confirmed, can you imagine the effect on the Share price - This was posted over there

Regarding your post that someone called the company and they confirmed that Horgan was in the office. I confirm this was me, however i did not speak to DH, only the secretary. I then asked my brother to call them back 20 mins later and he was told that he, DH, had now left and would not be back until friday.
Presumably he is arriving in heathrow aor gatwick and will be in london for the PRE meeting

Hope this clarifies things

Dont think i will be able to sleep tonight without a decent bottle of wine. Are you for real implying 2 contracts block 6 and other goodies as well?


This may help explain some of the upward momentum this morning, although I would still expect the MM's to try a little shake to get some more stock today, could be another day of ups and downs

Tokyo

Tokyo: When I posted the Cairn comments last weekend, it was really to remind everyone how a share price can go into a vertical drive even with a 1 in 2 hit rate on drilling and exploration! Like all believers I await developments with keen interest and unlike Sandra my nails are still in good shape, but my stomach may be a little tight!! John

hahaha yeah mine too

Tokyo you got through the latest tremor then!?

Wow how do you hear about these so quickly? This mornings one was nothng really, not really worthy of a sky news report, duration was only a couple of seconds about 10.30 this morning, bit worrying though as haven't had this many all together before

The wonder of modern communications! At least it wasnt the biggie this time. Are you there permanently or is this a shorter term thing? It makes coming into work exciting waiting for this news!!

No over here permanently

Isnt it a bit worrying what with the wobbly ground? Never been in one myself so I dont have a clue!

The de-rampers lead by MM's are not going to keep this stock down! been playing catch up for a few days away and those that did sell be kick themselves all over their portfolios when the RNS is released. To all those that held tight, like me, enjoy and prosper!!!!!!!!!!!!!!!!!!!!!!!!

I think this is worth another read,IMO an rns will be released when they have 2 contracts and block 6, done as a package....Just in case somehave`nt seen it, it`s from oilbarrel.com


30.09.2004
Petrel Hopeful As It Gets The Call From Baghdad For Urgent Project Talks
Petrel Resources, a long time player in Iraq, has been summoned by the oil ministry in Baghdad for an urgent and direct discussion to finalise all technical and commercial matters. Its the call the management team at the Irish oil junior have been waiting for. The discussions relate to the three tenders submitted by Petrel between April and June of this year for three major oil development projects: the Khurmala Dome, Hamrin and Subba/Luhais oil fields.

Petrel, which has been committed to building a position in the oil-rich country throughout the troubled years of sanctions and the turmoil of the past eighteen months, may now be on the brink of being one of the first western companies to secure access to Iraqs massive upstream oil base.

We will be finalizing the negotiations on the first of the developments next week, Petrels managing director David Horgan told oilbarrel.com. This could be really huge. Theres huge potential in Iraq.

The three projects are likely to be among the first to be sanctioned for development by the Iraqi government because, in the words of Petrel chairman John Teeling, they are proven, ready to go and all the preliminary work has been done.

The Subba/Luhais project in southern Iraq envisages daily production of 200,000 barrels while Khurmala, in the Kirkuk area in the north of Iraq, and Hamrin in central Iraq, are each targeted to produce in excess of 100,000 barrels of oil per day. The three oil fields may hold in excess of 2 billion barrels and could be onstream within 24 months.

Geologically its a good play for a company with big ambitions to target. Iraq has known resources of 115 billion barrels - a number that could be a mere fraction of the actual resource base. Much of the country remains unexplored at surface and at depth.

Theres a tremendous opportunity in the Jurassic, for example, which is productive in Saudi Arabia but which has never produced in Iraq, said Horgan. And thats not because its not there - there are some big structures on the seismic.

These are big fields and its quite important for the ministry to show that western companies can work in Iraq. None of the majors want to get involved in the short term because of the security situation which leaves the door open for people like us who are below the radar screen, said Horgan referring to his companys Irish base and small size.

Before any drilling takes place, the contracts must be finalized and issues about physical security on the ground settled. Horgan, a regular traveler to and from Baghdad, is more optimistic than most.

There was a great leap forward with the appointment of the new minister, said Horgan. Hes showing clear leadership and hes cleared the decks. The restoration of morale has been tremendous and the engineers on the ground are so much more content and getting on with the job.

He added: We are in and out of Iraq almost every week and weve not had any security problems. Its a bit chaotic but there havent been any major problems. Only one of our partners - a minor contractor - has got cold feet because of the security situation. All the big contractors are still there.

The outcome of next weeks talks could mark a major transformation for Petrel.