Monitor & keep close watch on PET coming days & weeks.

Read that Zak Mir latest target price for PET is 190p...next few weeks watch for breakout next leg up

but not today i suspect!

Cynic,yep bloodbath as expected at open today.Chance to pick up some PET on the dip.Blue now as expected.fwiw I recently added @ 124.25p.You probably read recent placing at request of Founder assumed to be Gartmore who sold some @ 60p.Bought back @ 115p paying 91% premium.PET were in Tehran last week mainly to meet with senior Iraqi officials.Can only be re:PET.ITOCHU came to meet with PET in Ireland.E-mail feedback from MD about visit those who wish to read.Iraqis have said contracts will be awarded HCL or no HCL before end of year.




mclellan - 22 Oct'07 - 10:37 - 10414

No problems with Itochu, folks...

RE: "The Visit"‏
From: David Horgan (dhorgan@CooleyWhiskey.com)
Sent: 22 October 2007 09:23:16
To: Fiona ********@hotmail.com)
They are an excellent partner, and like us impatient to advance.

Mashadani calls to accelerate approving laws

"Mashadani headed a meeting of the committees' heads in the Parliament to discuss approving important laws like provinces' elections, oil law and questioning and justice law which leads to serve Iraq and protects its security and independence."

http://www.alsabaah.com/paper.php?source=akbar&mlf=interpage&sid=51034

On line quotes can sell 50k @ 135p but only buy 1k!

Lex1000 - thanks for all the info and updates! I've finally bought back into PET today. The background activitiy all looks very positive, so let's hope it will be!

Toya, secret to PET is buy the dips & add on weakness.Sellers have held back sp rising today. Fundementals,charts,potential all point higher.Whatever your own personal exit strategy things should have moved forward by the end of year.You may be interested in latest e-mail reply from MD.


barkerman - 22 Oct'07 - 13:02 - 10453 of 10453

RE: Technocrats‏
From: David Horgan (dhorgan@CooleyWhiskey.com)
Sent: 22 October 2007 12:28:37
To: peter barker (
yes
--------------------------------------------------------------------------------

From: peter barker [mailto:]
Sent: 22 October 2007 10:55
To: David Horgan
Subject: Technocrats

Dear David,Glad to hear the meeting with Itochu went well,In your opinion with the new positioning of Technocrats in the Iraqi goverment and quite a bit mentioning the Oil Gas law is in this terms agenda,Are you confident that it will now at last be passed by Christmas at the latest,As for PET thanks and keep up the good work.Best Regards Pete.

14CHWAY - 22 Oct'07 - 14:06 - 10466 of 10466
Pete
Thanks for sharing your e- mail from DH.
I like his one line replies and now it is a one word.
No one is sure that HCL will be passed before xmas,but David is in a
marvellous position to give his honest opnion.
Hope you all have noticed the small hints he has given lately about PET's potential.He is not allowed to spell it out to us in as many words,but the writing is on the wall,therefore we have great trust in him and respect his and all the PET TEAM efforts.

Thanks Lex. I see this as a fairly risky buy, so will keep an eye on it and watch developments. Might be tempted to sell when it spikes again, but there could well be better long-term gains if I can be patient!

Toya,long term invested waiting PET become an oil producer.All here to help make money in whatever way we chose.Gook luck to you.

Possible PET long term charts will look like

Nice one! I do see this kind of growth as a possibility, hence my buying back into this share. (Sometimes, though, I just wish I could sit on my hands rather than taking a short-term profit! - How does one learn to do that??)

Toya ..... no one ever went broke by taking a profit, but they sure as hell did by failing to bite the bullet ..... it is THAT discipline that is far more impartant

Toya,you live,learn,develop and evolve.How do you do stuff? Strategy & discipline.Flexible to review and change.I would never knock anyone for banking profits.If you sell never look back.Option to buy back at anytime.My past is littered with poor investment decisions & failure to bite the bullet cutting losses.Some here on MoneyAM.Inexperience,greed & fear.Similarly not running with my profits and letting trend being my friend.I have lost more in profits by selling too early.Research into PET leads me to believe that it is one share to hold long term.Success depends on PET being awarded contracts & becoming an oil producer.It is my considered opinion that Iraq will approve HCL & PET will be awarded contracts.I appreciate the huge potential and likely value of sp.Others are more Cynical and chose to trade in & out of shares.Day traders run the risk of over trading. You will read of traders losing the lot,house & home even going bankrupt.Trading can become addictive to the point of gambling your money away.Making money is what it is all about.How you do that,how much you make or lose is in your hands and your hands alone.Takes five years on average to learn.If you have managed to preserve capital, not lost the lot you stand a good chance to succeed.Do not trust anyone on bb. All your decisions must be emotion free.DYOR.

lexx1000 - 22 Oct 2007 19:44 - 188 PTI thread
Toya,there you go answered your own question asked on PET thread!

"I'm going to remain patient an hold."

lex100 you should write some book:):):) but seriously i really like what you said, I'm still kind of beginner and that is exactly how it goes :)

lex1000 - 22 Oct 2007 19:29 - 310 of 312

very good post

you make a good point re selling early.I watched Bloomberg recently and one analyst said he found it amazing that people would let there losers run in hope that they will turn around and sometimes even top up as it sinks lower ( sometimes a smart move )
but yet sell there winners way to early.Amazing thing greed and fear

Agreed.

I always sell too early but will take a hit rather than average down.

DH = David Horgan,MD PET

mclellan - 23 Oct'07 - 11:51 - 10686 of 10690


here is Steve B's take on possible events

"Tomgiles, Fiona, my prediction on order of play:

- S&L: will be pre HCL at this rate, as already initimated by the MOU, and maybe consolidation rather than rsa at this stage subject to terms and HCL passing, etc

- Block 6 - dependent on HCL law passing, and subsequent negotiations to improve terms in line with new law, important signal to the sunni minority and will help general consensus methinks

- Merjan - seismic well underway, I asked DH at the AGM whether Merjan was bigger than the 760m published numbers, he said much bigger, they just weren't sure how big

- Halfaya - DH kept emphasizing that he was being pointed in this direction by the MOU / government, this could surprise everyone as there will be a push for big developments on the bacl of the new law, this could queue jump, wouldn't surprise me, only issue is that DH sais nothing is signed on this yet, Petrel has announced Dhufraya ahead ofanything on Halfaya, so still some way to go, relatively.

- Dhufraya - looking at pace of developments on Merjan, could be six-nine months away to any risk sharing

Let's see waht happens, any one from 5 would be very nice indeed!

Keep the faith,"

Lex1000 et al - many thanks for all your comments - only just had time to check in again v briefly this evening.

I am learning to be more patient, and to think about which shares are a long-term hold. It's just that sometimes I have had a lovely profit and then it's turned back into the red - hence my reaction to sell when I see a good profit, before it all slips away! But I can see now that some companies can continue to keep growing for the foreseeable future, and that the odd dip here and there should not faze me. It's a learning curve - the sort of steep one that I love to see in the sp!

jecs - 23 Oct'07 - 20:27 - 10797 of 10812


INTERNATIONAL MONETARY FUND
Press Release No. 42
October 22, 2007

Statement by the Hon. BARHAM AHMED SALIH,
Governor of the Fund for IRAQ,
at the Joint Annual Discussion

Extract:
Improved prospects for oil production and economic growth will be contingent on the completion of planned investments in the oil sector.

We are working to bring the negotiations on the hydrocarbon law
to closure if and when enacted, this law will cause the
restructuring of the oil sector and will provide a conducive
investment environment to unlock Iraqs real potential as an oil
producer. I am hoping that year 2008 will witness major
improvement in our production and export levels.


http://www.imf.org/external/am/2007/speeches/pr42e.pdf