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.

.

.

.

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. ;-))))

.

lex .... don't be so childishly petulant ...... meanwhile, the chart below is not a pretty sight, but that can said of almost all stocks at the moment ....... next obvious support is when sp hits 200 dma at about 90, though 100 could provide psychological support.

by the way, i sometimes wish i was brave enough to short more often - e.g. MPH at 200!
only stock i have consistently shorted has been SOLA (wshen not long there!) and of late, good old NRK, though perhaps i should not have been in such a hurry to bank the profits.

.

lex , apart from you , everybody here has been thro, this with Pet before and are naturally sceptical.

ROFLMAO!

"Honest of you to admit "Yep, I never research anything" evidently the case re: PET." - lex post 473.

Obviously sarcasm is lost on you, then. ;-)))))))))))))))


FYI, I've continued to follow PET throughout. One day it may all come to fruition. However, until then (and as my original post stated) there are far better places for your money. Take your ear plugs out, m8!

Lot of comments to wade through again this am. I still hold PET have done since early 2004, bl---- annoying that they have dropped from the 150's to current level but with the markets in demise peeps are going to take profits, there are top class co's seeing their shares hammered, look @ the banks, retail, builders and even miners. So it's no surprise that PET shareholders are selling to lock in gains or prevent further losses, it's happening to household names as well. I rightly or wrongly am staying put because that oil will come out, and I feel PET are very well placed to be a prime beneficiary, but hey I bought @ 42p so maybe I can afford to be patient.
2517

Maddoctor,if you have read my posts followed & traded in and out of PET for several years.I know where you are coming from.Put in context the way in which you write it is a fair comment.Commenced posting MoneyAM when PET was trading 60.5p-70p.My only agenda to share information available on Advfn.Information you would otherwise not see elsewhere such as first hand accounts by those attending AGMs where discussion & comment not restrict by RNS and copies of personal replies to e-mails by MD.All helpful in building up bigger & clearer picture of what is going.Risks naturally have to be considered in any investment.Holding.

Al , has said what many are doing , which is watching and waiting - the first hint that something is about to happen and we will all be in!

.

.

waiting for something solid is no bad thing ...... while one may not get in on the ground floor, if the find is genuinely significant, then there vwill be plenty of money to be made anyway ...... we have all invested in stocks, of which i am sure i do not need to give any of the myriad of examples, where the rumour and hype has proved exactly that, with sp rocketing and then tumbling even faster and further

.