PET is nose-diving because the Brits are getting out of Iraq...not good news for PET.

result of several things, including the "too far too fast" syndrome

well i did say it looks like a spike...

I think all the troops getting out Uk & US will not be as bad as same people think.

Cynic,it had to happen sometime! lol

Shares analysis Trader/shorter v Long term Investor

Banking 14,987.50 net theorectically buy back 12,252 shares @ 120p closing price.

If you had continued holding 14,987.50 fallen to 12,087.50.

Net profit of 6,188 now worth 3,288.


lex1000 - 01 Sep 2007 17:40 - 109

Your fantasy portfolio.You did not want to buy @ 87p,however,expressed opinion is to sell.

Buy 10k @ 87p cost 8799.50 gross

Sell 10k @ 150p 14,987.50 net.

Net profit 6,188.00

My opinion is continue to hold fantasy buy 10k @ 87p cost 8799.50 gross.Compare notes at a later date.

http://www.thecwcgroup.com/UserFiles/Con_File/Iraq%20Petroleum%202007%20Brochure(3).pdf

http://www.thecwcgroup.com/conf_detail_home.asp?FP=1&CID=178

Iraq Petroleum 2007

8 September 2007 to 10 September 2007
Dubai, UAE
International Investment in the Iraqi Oil Industry



Key note addresses will be given by:

H.E. Dr. Barham Salih, The Iraqi Deputy Prime Minister and
H.E. Dr. Hussain Al-Shahristani, The Iraqi Minister Of Oil

Ministry Delegation:


H.E. Dr. Sinan Al Shabibi, Governor, CENTRAL BANK OF IRAQ
Abdul Ilah Qassim AlAmir, Advisor office of the Prime Minister, Iraq
Representative of H.E. The Minister of Planning
Dathar Al Khashab, Director General, DURA REFINERY
Dr. Mussab AlDujayli, Head of Crude Oil Marketing, SOMO, MINISTRY OF OIL
Natik K. Al- Bayati, D.G, Reservoir & Oil Fields Development Department, MINISTRY OF OIL
Basim Mustafa Ismail, Head of Planning Commission, Oil Exploration Company, MINISTRY OF OIL
Falah Al-Khawaja, Director General, SCOP, MINISTRY OF OIL
Nidhal Ismail, Senior Chief Engineer, Reservoir & Oil Fields Development, MINISTRY OF OIL


Expert Speakers Include:

J. Jay Park, Partner & Chair, International Energy Practice Group, MACLEOD DIXON LLP
Dr. Pedro Van Meurs, VAN MEURS ASSOCIATION
Tariq Shafiq, President, PETROLOG ASSOCIATES
Dr. Herman Franssen, President, INTERNATIONAL ENERGY ASSOCIATES
Leslie Blair, General Manager, Taq Taq Operating Company (TTOPCOL), ADDAX PETROLEUM
Peter Nicol, Executive Managing Director, Institutional Research, TRISTONE CAPITAL
James A. Grimshaw, Director, GARDA WORLD
Steve Peacock, President, Exploration and Production, Middle East & South Asia, BP

Topics will Include:

The proposed Oil and Gas Law and the new measures
The new development strategy
The Iraqi oil industry and foreign investment
Long term objectives
Present oil production capacity and fast track solutions
The new structure of the Iraqi oil industry
Creating a stable environment for growth
The role of the international oil companies in the development of the Iraqi oil industry

The conference will provide a unique opportunity for the international investment community to raise questions on the proposed oil and gas law and the new Iraqi Oil policy. Structured to maximise dialogue between Iraqi decision makers and their international counterparts, this conference will explore the risks and the problems as well as the opportunities facing the Iraqi oil industry.


POST-CONFERENCE WORKSHOP
Understanding the Emerging Petroleum Legal Regime in Iraq
10 September 2007

Workshop Leader:
J. Jay Park, Partner & Chair, International Energy Practice Group, Macleod Dixon LLP

Click here for further information regarding the workshop


For further information regarding the event please contact
Joanne Leonard, tel: +44 20 79780075

Representatives of Iraq's Sunni and Shia factions have agreed to consider a series of principles on non-violence after talks involving NI politicians.
The discussions were held at a secret location in Finland over the weekend.

They were chaired by Northern Ireland's Deputy First Minister Martin McGuinness of Sinn Fein, and former South African government minister Roelf Meyer.

DUP MP Jeffrey Donaldson was also involved in the four days of discussions.

The seminar was attended by about 30 representatives of Iraq's warring Shia and Sunni Arab factions.

The faction leaders have agreed to consult further on a series of recommendations, labelled the Helsinki agreement.

The 12 points contain clear echoes of Senator George Mitchell's principles on non-violence and democracy which paved the way towards the Good Friday Agreement.

Aside from promising to resolve political differences peacefully, the agreement commits the Iraqi parties to consider the creation of a disarmament commission, and the formation of a group to deal with the legacy of Iraq's past.


Martin McGuinness chaired the talks

They also seek an end to international and regional interference in Iraq's affairs.

The significance of this agreement will now depend on whether the principles drawn up in Finland make any difference on the ground once the Iraqi participants return home.

Besides Sinn Fein's Martin McGuinness and the Lagan Valley MP, other local participants included the former Stormont Assembly Speaker, Lord Alderdice, and the loyalist Billy Hutchinson.

The former IRA hunger striker and Sinn Fein official Leo Green took part, as did the public relations consultant Quintin Oliver who masterminded the Yes campaign during the referendum on the Good Friday Agreement.

South African participants also included the ANC leader Mac Maharaj.

The seminar has been organised by the Crisis Management Initiative, an organisation headed by the former Finnish President Martti Ahtisaari who served as an independent inspector of IRA arms dumps.

Mr Ahtisaari did not himself attending the discussions.

soon be buy time again..

This is Grand Old Duke of York stuff, it's just a case of knowing whether they are halfway up or halfway down.
2517

wrong analagy mate
Grand Old Duke of York caused chaos by having 10,000 men
The Brit Army causing chaos is due to 5,000 men!!!!!!!!!

Good buying opportunity now, with the Iraq Oil meeting due to start on the 8th Sept

only a good time to buy if the chaos does not get even worse (short odds) and bits of paper can actually be converted into action in the very near future (considerably longer odds)

This is not a good time to buy at 113p as more instability is most possible

Fortune favours the brave, having said that I am not increasing my holding.
2517

government warning .... fortunes can get smaller too!

Absolutely, but this is an impressive performance from the day's low (so far), could PET get into positive territory by the close?
2517

btw PET working in South Iraq

http://www.iht.com/articles/ap/2007/09/04/africa/ME-FIN-Jordan-Iraq-Oil.php

The oil minister also told Dow Jones that he expected Iraq's parliament to pass a draft oil and gas law this month. Lawmakers, who were on a monthlong summer recess until Tuesday, had postponed debate on the controversial hydrocarbon law until September.

"Some members of parliament have told us they would pass the law this month," said al-Shahristani, a member of the ruling United Iraqi Alliance. "But if the parliament delays passing the law, we're going to invite foreign companies to develop some oil fields in the south."

http://tinyurl.com/2tqf5y


DUBAI, United Arab Emirates (UPI) -- The question is simple on the third and final day of a major Iraqi energy conference where hundreds of hungry oil men and women broke bread with Iraq`s industry chiefs, politicians and technocrats: When will Baghdad set the ground rules for the international oil community`s long-awaited venture into the largest oil prize on Earth?

The answer, evenly nuanced, is clear: A version of the Iraq oil and natural gas law was agreed to by most of Iraq`s political leadership last week, and when Parliament resumes this week it will, possibly, debate the law and, perhaps, maybe vote on it soon.

the hotheads and mis-named fundamentalists don't give a fig what the politicos might say .... they have their own agenda and it's nothing to do with becoming cuddly and friendly with anyone except their own clique

katoema - 4 Sep'07 - 20:20 - 573 of 585


A point of order here, relating to the present laws in Iraq; before, during and after Saddam Hussein. Unless they have been anulled and made void, they are all still legitimate. That is to say, they (the Government) may, at this time, issue contracts as the law stands, but may, if a proviso is mentioned in any contract, that it is subject to be ammended when new laws have been passed.

In this context, the reference to get contracts under way in the south, is valid and bound by law. Providing those companies that are asked to agree to such a contract, albeit temporary, to get oil moving, then you will see movement. I cannot and will not place myself in the shoes of the PET management, but I suspect that they will have been advised of this already. K