barkerman - 7 Nov'07 - 09:15 - 13556 of 13570


HERE WE GOOOOOOOOOOOOOOOOOOOOOOOOOO..



Political first: the three governing bodies meet to agree on final versions of five important laws




Al-Attiyah called for the initiative to move the political process, the Parliament discusses budget 2008 next week
Baghdad-Sabah
Seeking the three governing bodies in the two meetings held in the coming days to agree on a number of important laws.
The list of laws that would study by the governing bodies, accountability, justice and oil and provincial council elections oil investment and legal and financial resources of the State, in addition to the issue of constitutional amendments.





The complexity of the three bodies (the Republic, ministers and deputies) these meetings to move the stalemate in the political process by agreeing on these laws prepared by most observers "key" to many of the controversial points. He says Abbas Al-Bayati deputy coalition and the decision of the Constitutional Review Commission: that political leaders would meet in the coming period, especially that the issue of Turkish threats, which has preoccupied political circles and still started solution following the measures announced by the Prime Minister.
The Prime Minister Nuri al-Maliki was disclosed yesterday from Iraq four procedures, include: STRIKING training headquarters used by the Workers Party, spare supplies and facilities, and the closure of offices and the headquarters of the Baath Party and chase elements and the required leadership on Iraqi territory. He adds Al-Bayati told of the "morning", that after the agreement on the broad outlines of these laws, will be meetings between coalition forces and the Quadripartite Islamic Party and the Committee on 3 +1 (of the Presidency of the Republic and the Prime Minister), so as to agree on a more precise details and thus leave these laws to Parliament for a vote.
He revealed the existence of a prior agreement to establish a number of such legislation as the end of this year, stressing that the reasons for the delay voting upon returning to the political side, not technical or legal matters.
Al-Bayati agreement drew strong quintet (Patriotic Union of Kurdistan and the Democratic advocacy, the Supreme Council and the Islamic Party) to 90% of the overall content of those laws, saying: Maittalb now is to reassure everyone that this legislation is national and utility benefits to all spectrums of the Iraqi people and not to the category without the other, especially regarding the distribution of oil wealth to all Iraqis and emphasized by the new law.
In the meantime he stressed MPs told "Sabah" should not politicize some of the laws, pointing out that deal with this legislation as a national exclusive contribute to achieving stability, progress and put an end to this delay in issuance. Details r 2
For his part revealed the Dawa Party leader Kamal idi an agreement to discuss the country's general budget for the coming year in parliament next week. Between Sa'idi of the "morning" to the Ministers of Planning and Finance had Ihdharan to discuss ways and the preparation and implementation of the budget, especially that it (the budget) is the largest in the history of Iraq, it would be 42 billion dollars. As part of efforts move the political process after the security situation has improved in most parts of the country, Sheikh Khalid Al-Attiyah, First Deputy Chairman of Parliament to launch a new political initiative. Al-Attiyah said during his meeting yesterday, chief adviser to the American State Department, David Satterfield: that it is necessary to proceed very far in the political initiative involving three components President, and make concessions to move the political reality. He added, according to a statement received "morning" copy of it, that will help the House to approve laws strategic and important jurist oil and accountability, justice and law and the law of provincial distribution of financial resources.

barkerman - 7 Nov'07 - 09:22 - 13562 of 13570


Not sure but when peeps read this and realise it,s in the FINAL STAGES we will see more buying.

Wakey,wakey...

COULD BE READY TO RUMBLE GUYS
I just tried to buy 1000 shares a few mos ago and couldnt buy them without calling trading desk...got a message saying volume of shares too high.

This usually means volatility on way ( up or down) so hopefully its up

p b

Tight spread on line:

Bid 155.15p v Offer 156p max limits 30k v 15k (actual)

Appears somewhat reluctant to move higher despite the constant buying, maybe there is a sell order to fill,---- just my opinion.
2517

Oil pipeline being laid between Basra, Iran''s Abbadan -- source

Power & Materials 11/7/2007 1:24:00 PM

BASRA, Nov 7 (KUNA) -- Iraq's South Oil Company has commenced laying an oil pipeline between Basra and Iranian ports at Abbadan, across Shatt Al-Arab river, for the export of Iraqi crude, according to an authoritative source at the company on Wednesday.
The source told Kuwait News Agency (KUNA) that the export capacity of the project was 200,000 barrels of crude oil per day, and would not only raise Iraq's exports, but also diversify its export ports.
The Basra-based South Oil Company is the largest Iraqi oil company and is responsible for the production of crude oil in southern fields and its exports from the Basra and Ameeq ports. (end) smj.ema KUNA 071324 Nov 07NNNN

http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=1855256&Language=en

2517,

>sportbilly1976 - 7 Nov'07 - 12:23 - 13726 of 13734

ok - re JEFF.

have emailed a trader friend to find if they have a line of stock to shift....

they have no indication of interest out today, but traded 350k yesterday and was offering 50k at 156.cannot ascertain as to whether they have a large seller or not though.

Indication of Interest.........it's what brokers send to clients via Bloomberg but somehow I can see some of them !

jecs - 7 Nov'07 - 14:15 - 13768 of 13769


Iraq News

Maliki reveals the near completion of the bridge naming ministers

(Voice of Iraq) - 07-11-2007
Send this topic to a friend

Maliki reveals the near completion of the naming ministers to fill vacancies in government

Baghdad-Iraq votes
A Prime Minister Prime Minister Nuri al-Maliki, Wednesday, the near completion of the nomination of a number of ministers to fill vacancies in the Iraqi government, which was missing for some time.


Al-Maliki said in a meeting with ambassadors of EU countries in Iraq, "we reach the last stage in the nomination of the new ministers, and we will work to find anything that would make Iraq in the advanced stages and the provision of all the requirements and needs of citizens from the general people."
Suffer Iraqi government months ago vacuum that was caused by the withdrawal of a number of parliamentary blocs which participated in the formation governmental Trend patients (30 seats of the parliament seats $ 275 seats) and had a six ministers, the Iraqi Accord Front (44 seat a), it has four ministers in addition to the post of Deputy Prime Minister, headed by the Iraqi National Iyad Allawi (22 seats) and has four ministers, but a number of them did not adhere to withdraw.
The Council voted unanimously by the Iraqi parliament, on Tuesday, last week, the names of two ministers of the new agriculture and health, as substitutes for the Ministers resigned but followers of the current patients.
And stabbed a number of parliamentary blocs in the House of Representatives in the legitimacy of the voting process conducted by the Council, and asked the bloc in a joint statement suspension of the result and not adoption.
The political blocs that have signed the statement are the Iraqi Accord Front, mass and mass chest Rsaleon based Iraqi National Dialogue Front and independent Arab bloc.
On the other hand, a government statement said that Al-Maliki said during his meeting, the ambassadors of EU countries accredited to Iraq, said that "Iraq is witnessing progress politically, security, and open wide in building economic relations with the international community and the European Union, particularly after the issuance of the International Covenant document."
A statement that the Al-Malki stressed that "the government seeks to consolidate these relations in order to improve economic and social conditions in the country."
He Maliki to inform Iraq to build better relations with the EU in all areas, presenting political and security developments and the progress made in national reconciliation efforts.
He Maliki that "progress witnessed by Iraq came as a result of national reconciliation which we see them crossing which Iraq would be transferred to safety, and that reconciliation is the right way to strengthen the ties of relations between all the components of the Iraqi people", according to the statement.
http://www.sotaliraq.com/iraqnews.php?id=988

bit of a drop this morning..........markets down quite a bit though although i hope pet reverses trend quickly

plummeting........whats up?

and again!!!

I think this may be my fault as I just topped up my holding!! This always happens when I do that

Heard that Iran may be bombed out soon...maybe that's why PET is straying downwards.

why?

its iraq we r dealiong with

Bear raid on PET.Buy the dips & add on weakness.Read next post.Copy of e-mail reply from David Horgan,MD.All you need to know.aimvho.

mclellan - 13 Nov'07 - 13:48 - 15263 of 15300


I've just come back but before I left I wrote to David and have received this reply:

David Horgan (dhorgan@CooleyWhiskey.com)
Sent: 13 November 2007 12:10:31
To: Fiona *********@hotmail.com)

Hi Fiona,

Thanks for that! It sounds like the same shorting stories of 2004 & 2005:

We wont get contracts

The Americans / majors will take everything

Dome backed by Anadarko will get Subba & Luhais

Dont be surprised if you soon read that I have been killed again that will be the 4th time so far.

The media, and especially Arabic media are highly unreliable as we have learnt, but no one has shown me any such article.

At this stage our sources should be better than any journalists.

The reality is that no one is aiming for TSAs: we are doing the biggest one already. The majors have no interest in TSAs in Iraq. They want PSAs.

Our track record speaks for itself: it would be very odd if the ministry werent talking to the company running its biggest project!

I suspect that people are understandably frustrated by the delays passing the new law, but remember how long it took to ratify our Subba & Luhais contract and all the shorters and even media stories that we wouldnt get the project.

It is a very dangerous gamble to short Petrel.



We have been through these cycles of greed and fear before: the short-term price is set by the marginal trader. There may also be CFDs and shorts.

It is wiser to hold our counsel and let the results speak.

The combination of security risk and big upside will always make for volatility. The short-term share price has no bearing on the business.

The current likelihood is that negotiations will open shortly with the Iraqi Government and Ministry of Oil. This is likely to be under the old (pre-2003) law, at least initially. This is what they should have done all along.



We will acquire a risk-sharing contract (PSA or equivalent though it will be called something diplomatic) on a major development field (Halfaya or equivalent) as well as world-class exploration acreage. This is a rare prize. No one will care in a year's time what the share price fluctuated between.






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

From: Fiona ***********@hotmail.com]
Sent: 13 November 2007 10:54
To: David Horgan
Subject: Bears



Good morning David,
Amazing what bear raiders can do to market sentiment on a share.
Yesterday and today' s fast drop on PET has been triggered by shorters on ADVFN
and FYB trying to push 'information' that:
1) The IOM is scheduling meetings with the majors for TSAs very soon in Jordan
and that the poster concerned who claims to be in Saudi was very surprised to hear that Petrel was not on the list. Claims it was in the Arabic press 'somewhere' but no reference.
2) That Anadarko, who were given a one year contract to do a reservoir study in Feb 2005 are more likely to get a TSA on S&L than PET are etc.

Obviously, I would hope that these things are not true and the prospects for PET are as good as ever. Amazing what lengths some people will go to to 'spin' their poisons.
I see the Koreans have just been awarded a contract for Kurdistan so perhaps they will be less likely to pursue other areas.
Best wishes
Fiona

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