.

.

I post on the other side as well, however it is run by a number of individuals who cannot bear an alternative view to their own !!

I believe pet is in a unique position and the price will make many a lot of money.

However, I look at the broader picture and I believe that we have until just before the games next year before the economic picture could change dramatically.

The Chinese are sitting on trillions of US dollars - the Russians and the Chinese plus the Iranians will be successful in setting up an alternative oil market which will not be based on dollars.

These two factors will change the way we look at the world forever and believe me it will happen - but after the games.

So, beware and if as I hope Pet gets to quite a price before August - take the profit and wait for what will be the most dramatic correction world markets will have ever seen.

LEX....brill posting today @ 09.56 hrs mate..Any more shares and you will soon be a director of PET!!!!!
Seriously though can you confirm what mechanism you use to find out price on German Stock Exchange???

PINNACLES....found your mail interesting, however can you expand on your views in your latest mail...I am a little in dark on the issues you refer to ( ie Games/August/Alternative Oil Market)

cheers guys

Hatto - 28 Aug'07 - 10:46 - 94750 of 94774


I fully understand what fellow PIs are going through.

Excitement.....Fear......Hope......Panic......

And all in only three hours.

All the questions going on in our heads....

Should I buy more ?
Should I Sell ?
Will the Sp go up ?
Will it go down ?

All the thoughts.....I should have sold at 135p its 130p to sell now. Good job I didn't sell its 141p to buy now etc...etc...etc....

Personally I hate days like today, you feel you need to do something but in reality what you should do is just sit on your hands or better still get away from the bleedin' computer.

peteh1 - 28 Aug'07 - 10:57 - 94768 of 94773


A good post Hatto and very much feel also for newcomers to PET i.e.should I buy more or should I sell some,all of my holding or just keep holding.One has to remember that an opportunity like PET does not come around every day.In fact in all my years of investing I have only seen a couple of shares like this that could be truly life changing.This I feel is one of those stocks that have the real potential to come good.I have had many hundreds of stocks in my time.I have made profits on some,losses on others but a majority have vertually stood still.This share is on the increase and investors should not panic just because they may see themselves in profit.

orvil - 28 Aug'07 - 10:59 - 94772 of 94773


palwing-only invest that which you can afford and only keep in the market that which you are comfortable with. Do not be pressurised by others as they may have different agendas. I for one will be riding the ups and downs but that does not imply it is the crrect decision for everyone. If you are of a nervous disposition you are probably in the wrong share and i suggest you take sufficient profit now to feel more comfortable.

piston broke - 28 Aug 2007 10:59 - 20

Link to German Stock Exchange.


Frankfurt
IE0001340177 2,10
400 +0,14
+7,14 104.226
=+==+-=- 11:47:23
28.08.2007 2,07
2,11 1,96
1,99 2,12
1,92 40
211.7k
Stuttgart
IE0001340177 2,12
10.000 +0,16
+8,16 17.550
++--+=+- 10:53:44
28.08.2007 2,03
2,11 1,96
1,97 2,18
1,97 8
36.5k
Berlin-Bremen
IE0001340177 2,08
3.000 +0,23
+12,43 5.466
++++ 10:57:09
28.08.2007 2,02
2,09 1,85
1,95 2,08
1,95 4
11.2k
Mchen
IE0001340177 2,05
192 +0,09
+4,59 3.102
++=+-++ 10:44:31
28.08.2007 2,07
2,11 1,96
2,03 2,10
1,95 7
6.3k
XETRA
IE0001340177 1,95
1.499 +0,12
+6,56 1.499
+== 13:31:16
27.08.2007 0,00
0,00 1,83
1,95 1,95
1,95 1
5.8k

http://www.finanztreff.de/ftreff/kurse_einzelkurs_alle.htm?u=0&k=0&s=694395&b=0&l=276&n=PETREL%20RESOURCES%20PLC%20Registered%20Shares%20E

.

America, it has been reported is having a trade spat with China.

As a result China has hinted that it could dump its vast holdings of US government debt thus promoting a slump in the dollar.

China holds approx $900 bn in a mix of US bonds - liquidating the dollar could trigger a dollar crash perhaps tipping the US into recession.

The games are so important for China's image - they will do nothing till they are over.

The collective over oil is something the Chinese, Russians and others are keen to establish asap - especially now oil is available in Iraq.

The above are to be monitored - the chinese hold all the cards and the USA knows it but cannot do anything about it.

I advise caution and to keep a watchful eye over these future events as they will have a huge impact worldwide - all in my opinion of course !!

Hope the above helps clarify.

Hatto - 28 Aug'07 - 11:14 - 94785 of 94786


25k roll-over just gone through.....looks like 2 sells but isn't.

The world needs oil.Peak Oil predicted years 2010-2015. Oil in Iraq is crucial to keep pace with world demand.India and China.PET initially will be valued on oil in the ground i.e proven resources and again when it becomes independant Iraq oil producer.Oil is just sitting there in billions of barrels do bear in mind oil easy and cheap to extract.

Quite right lex - peak oil is already here and things are already going wrong - the saudis in my research do not have what they say they have - hence why Iraq is so important.

This will become a battleground between Eastern powers and the western powers for this oil in Iraq - PET is in a great postion to benefit it's shareholders - Itochu is the largest importer of pacific oil - work it out which side PET will eventually be on !!

My comments in other posts will have an effect on all that happens in Iraq and the world - just be aware nothing wrong in that.

For those that do not know - August is the Olympic games in China

Pinnacles---------Very interesting couple of posts, I gather from what you are saying that there will be two markets for oil in the future, ie one in dollars & another in whatever currency the Russians, Chinese & Iranians decide upon? Whilst PET is in a great position (I still hold PET), I would have thought that ultimately the beneficiaries will be decided by the Iraqi Government, and if a large chunk goes to the U.S. then that would somewhat dent the aspirations of the R,C, & Iranians to become the dominant force in oil. Only my view.
2517

I don't think the Iraqi's will give much to the USA - the american oil companies will try to get what they need by takeovers.

In pet's case it will the Japanese who will make the offer - all in my opinion of course.

In terms of aspirations most of the new oil will be in the East making it very tough for the americans - however word is they are now waking up to the problem so watch those tiddlers get swallowed up !!

You have to remember that it is cheaper to take others over than drill to the depths to get oil - apart from Iraq of course.

Tar sands - waste of time and too expensive.

Pinnacles ----One of my earlier posts on the previous PET thread voiced my fears of PET being taken over before they (PET) realise their potential, ie acquired on the cheap. Interesting that you think the U.S. won't get much Iraqi oil. I agree with your 'most of the new oil will be in the East', and if the majority of it is under the control of the Russians, Chinese & Iranians then God help the world, which is why I think the West and in particular the U.S. will be huge beneficiaries. I cannot see the yanks after the losses they have incurred in Iraq, allowing themselves to be held hostage by an unfriendly (possibly) Eastern cartel.
2517

George,

I would like to think you are right, however they are already being held to ransom by the middle east.

The new era sadly is in the hands of the chinese and russians and they don't take prisoners.

If anyone really thinks they have mellowed then they are not part of this planet.

The contracts I bet will have a proviso in them stopping any USA companies taking over the contracts unless the Iraqi government says so.

The Americans are not what they used to be and the Europeans are now more to the left - so the gap is already there.

Remember that PET when awarded contracts can book the reserves to the balance sheet - we do not need to wait until the actual oil is coming out the ground - it is all down to potential.

The dangerous bit with this share is not to be too greedy when the price reaches 'ss.

Excellent thread and an excellent share. This is the start of big things

The only thing that could screw this up is Mr Bush.

The speech he has just made is not far short of putting Iran on notice of something imminent.

Any action would seriously screw up PET's intentions and share price.

Let's all hope that Putin puts a shot across Bush's bows and makes him see sense.

Fatgreek - 28 Aug'07 - 21:13 - 95046 of 95104


lol



Bush Touts Iraqi Agreement

Tuesday August 28, 2007 12:16 AM


By JENNIFER LOVEN and ANNE GEARAN

ALBUQUERQUE, N.M. (AP) - President Bush on Monday said an agreement among leading Iraqi politicians is a promising sign of political progress, but that the pact on some issues that have blocked national reconciliation is not enough.

``The agreement begins to establish new power-sharing agreements, commits to supporting bottom-up security and political initiatives, and advances agreement among Iraq's leadership on several key legislative benchmarks,'' Bush said in a brief statement upon arriving in Albuquerque.

Bush had called Iraqi Prime Minister Nouri al-Maliki and other top leaders from Air Force One before he came to New Mexico for a political fundraising reception. Sunday's political summit meeting brought al-Maliki together with fellow Shiite Vice President Adil Abdul-Mahdi, Sunni Arab Vice President Tariq al-Hashemi, the head of the northern autonomous Kurdish region Massoud Barzani and President Jalal Talabani, who is also a Kurd.

``I reminded them, and they understand, much more needs to be done,'' Bush said. He added that it will be up to the Iraqi parliament to make the new agreements law when the legislature reconvenes in early September.

------------

The last sentence imo is a big clue to say that the HCL will pass as soon as parliament comes back at the end of the week.