hlyeo98, interested on your valuation of giant 14-16billion oil field with minimum 8billion easily recoverable at under $2 a barrel?

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Won't be long Lex before all of your profit has kinda disappeared. Haven't changed my opinion re investing in this company. Iraq getting safer? Ffs, wise up, do some of your own research instead of copying and pasting ramps from elsewhere. 2008 will see some interesting (financial devastating) moves in Iran. Best take your profits now before it's too late!

pth

We certainly agree to disagree, lex.

Unfortunately you seem to think the amount of oil has its hands on is a new story. It isn't. I played with PEt 3-4 years ago before realising it would be an awful long time before the potential could be realised, if ever. BTW, they probably need a major to get at the stuff so you shoot yourself in the foot right there.

As I said in post 452 - "far better prospects out there".

Greed will resolve this situation.

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Don't be disillusioned, Lex, or you'll get burned badly.

Hlyeo98,you haven't answered my question.Shorters rarely do prefering one liners.

Let us see when it is recovered. Counting chickens before they are hatched is not my style.

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Ah, the curse of contrarian views on every BB since they began - if you're negative on a stock you are a shorter.

Well I've never shorted PET in my life.

Nobody has to short PET, the management will do it for you.

Well said, MaxK.

There is no doubt PET technically sit on big reserves and have done for many years. The question therefore is why when the rest of the world is drilling like mad things (and have been for several years) haven't PET been doing anything?

Invest in PET? Not until they get going IMO. It's not rocket science.

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Yep, I never research anything. I'm always scrabbling around in the dark, pouring all my dosh into lost causes and never amking a penny. I rely on gfuys like lex to fill in all the holes in my trading and investments. Where would we all be without them, eh?

Meanwhile sitting on such huge amounts of oil, PET mkt cap was last night about 81m. Seems like everyone but lex has done their sums wrong. ;-))))