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

Tokyo: Have you been able to top up again this week?

IG Stopped me out @ 98 yesterday:o((( was only there 2 mins then bounced off. Bitch!!!

For any of you that captured profits when PET peeked at about 150p, looks like DES and FOGL are trending up based on some seismic interpretation of the Falklands basins. This seems a little earlier than I expected, I had it down as a long term investment (glad I invested at floaton FOGL though.

However, due to the oil & gas hysteria at the moment any company associated with the black and runny stuff seems to be a winner.

Johntudor - No I'm all in now, certainly have enough shares to put a big smile on my face(If all goes well), hopefully sometime this month. Just a waiting game now I feel.

Tokyo

Chartist2004, Thats happened to me before now, often wonder if they know the stop is there and drop the price to pick up the order.

cunningham - I was thinking that my self, happens all too often for my liking was long @ 112.6...

Interesting to learn that comdirect will trade PET on-line. I get referred to the dealers at stocktrade. Mind they do a good job but it can add two or three minutes to the cycle. Here's a maths question for you: if the price of PET rises 5 in half an hour, how much is that in three minutes? Answer, better to trade on-line!

Eric

Well there goes 9th of November, still no news. Never mind we still got tomorrow and the day after and the day after and so on...... until the 1st of December 2004.

Eric, I have followed this thread for only a few weeks and have found the sharing of info valuable.I have traded PET on-line with Barclays, but haven't bought very large amounts of shares in one trade. Only 7.50 per trade for Frequent trader, which makes the 1% stamp duty the biggest expense.

Rod

canary9: Does the Barclays trading screen tell you the NMS you can deal in?

johngtudor - Sorry 4 butting in, ref Barclay Stockbrokers NMS yes they do give NMS once logged in, Pet 5000 at moment....
Cheers......

chartist2004: Thanks. Can u also now set your Stop Loss on-line with Barclays? John

Only if its a FT350 share.

Tokyo, cheers for the reply, looks like the MMs managed to get the downward push today, it broke the 100 just, so some might have egg on their faces. Have held back on tempting fate about the release, if it doesn't appear by friday I have had permission to raid the 'presumed' savings and top up from my future sandy beach chalet account. I have a close friend who is working in Kirkuk, who can't wait to look after all the little irish folk who appear over there. He has been looking out for them, as you can imagine......

watcher

Hold tight for a bumpy ride now guys! There will be a lot with the jitters out there now as the MM's try and push this down!!!!!!

Good Morning All!

Thanks Tokyo for the find re pet site and totally agree with your excellent if not the only interpretation.

Why update the website in a positive light at this late stage if you haven't got it in the bag? Wouldnt you lose credibility with the city, including backers etc, let alone shareholders, if in only 2/3 weeks later you would announce that you were unsuccessful in the bids? It just cannot make sense. Plus JT is a chairman of at least 3 other companies listed on AIM. Would he risk his credibility re all these cos because of pet? I don't think he's that stupid! Further evidence is the last paragraph in your post pasted from Pet website:

We are re-interpreting existing seismic & will acquire new seismic and drill wells as soon as equipment & crews are available and the security situation permits

Again at this late stage, they are talking about providing equipment and crew and the not say if everything goes to plan i.e. we get the contracts! So in my opinion this omission says it all! It's in the bag! And I don't think it's a matter of opinions any more - its them saying it by omission!

Re Falluga! I don't think it will affect the signing of the contracts at all. In fact the attack on falluja has the prime objective the forthcoming elections. You can't be seen to be serious and at the same time have a part of the country not under your control. In the same vein you want to project life is returning to normal, and more so before the elections to indeed convince the people that they have a stake in voting. What better ways of the doing this if not by showing business is booming and contracts with international cos are being signed.

However in the medium to long term it will have serious political and security consequences for the Americans and the present government if 're-elected', which I am sure it will in a different form, which would include Alllawi (+some of his colleagues), who has now multisigned his death warrant! I think Falluga will be pacified relatively quickly, but the insurgency will regroup and spread to various part of the country because it will bee seen once again that the US has no concern for civilians, as I am sure they will be a lot casualties of innocent Iraqis! This will still not affect Pet greatly because I believe even the militants understand that it is not in their interest to disrupt oil industry reconstruction which is in the hand of neutral cos, such as pet!

Good Luck to us all! Rns soon I think!

If Foster is right and one contract has definately been signed...remind me again how long PET can sit on this info before they are obliged to release it. Is it 3 days? I know this is rather desperately clutching at straws, but is there any chance they are hoping to tie up another contract first so info an be released on same RNS...obviously wishful thinking on my part.

Morning all,
Thanks to all for the good posts,i`ve been unable to follow much lately,Tokyo,good post re; PP presentation. I personally would`nt take much notice of Geoff Foster`s timescale, when i`ve been so-called quoted in local press, i`ve said nothing like what they print, and they all have "reliable" sources!.The only thing we can all do is sit tight and have belief in our own judgement,the rampers and de-rampers are`nt going to do anything to the sp apart from off load some nervy investors, they are not that powerful!!.

regards,
Dexter

if this does go on til next week ill be able to top up some more!!!!! still the waiting game is quite fun, i think?

gra1969 Glad you think it's fun, everytime it drops nearer to 1 I get nervous. I look at technicals more than anything else and any clear drop below 1 signals a further fall to around 90p to pick up the previous uptrend support line or 80p to pick up support at the dip prior to the last RNS. Whilst I expect any new news to make the technicals redundant whilst the wait goes on it continues to test the 1 level.

RNS where are you???????????