elmfield - 29 Aug'07 - 13:01 - 95415 of 95415


You wanT NEWS WELL HERE IT IS:
As ever DYOR


Iraq oil law can pass by comfortable majority
Reuters
By Lin Noueihed Reuters - 2 hours 38 minutes ago

DUBAI (Reuters) - Iraq's draft oil law should pass by a comfortable majority when parliament meets to discuss it after the end of its summer break in September, Iraqi Vice President Adel Abdul-Mahdi said.
(Advertisement)

"The oil law was completed in cabinet... the draft that was approved in cabinet is the one that will be presented to parliament," he told Reuters late on Tuesday, ahead of an Iraqi investment conference in Dubai.

"The parliament remains now in recess and will return at the start of September when we will reaffirm that the law will be presented to the parliament."

The controversial federal oil law has been approved by the Iraqi government after months of talks but has yet to be debated by parliament, which must approve it if it is to pass into law.

The law, which decides who controls the world's third-largest oil reserves, is now in limbo while Iraq's parliament takes its summer break.

No date has been set to debate the law, which aims to provide a legal framework to attract foreign investment and sets up a new state oil firm to oversee the sector.

Washington has pushed Iraq for months to speed up its passage and that of other legislation, which it sees as pivotal to reconciling warring Iraqis, rebuilding Iraq's shattered economy and attracting foreign investment.

The draft oil law aims to ease tension by ensuring Sunni Arabs share in oil profits though most of the reserves are in the Kurdish north and the Shi'ite Muslim south of the country.

But there has been fierce debate over the shares and how much control regional governments will have over the existing and undiscovered oil reserves, as well as the sorts of contracts that will be included.

APPENDICES?

Abdul-Mahdi said that some appendices to the law could be included to ensure the broadest possible political consensus, even though the law was expected to pass comfortably as it is.

"There are some parliamentary blocs that call for the addition of some appendices to this law. Fine, the committee is studying this and the appendices could be included in this law despite the fact that if the voting took place in parliament now... the law would be expected to pass with a comfortable majority," he said.

"But in the interests of national consensus, it is seen that their addition would be more beneficial and get a higher level of consensus than the comfortable majority that would be expected if it was presented now."

Abdul-Mahdi was among Iraq's top five Sunni, Shi'ite and Kurdish political leaders who announced on Sunday that they had reached consensus on measures considered vital to fostering national reconciliation in a country riven by sectarian strife.

The agreement was one of the most significant political developments in Iraq for months and was welcomed by Washington.
http://uk.news.yahoo.com/rtrs/200708...02bfc7e_1.html

ADD!!!!!!!!...........?

elmfield - 29 Aug'07 - 13:24 - 95448 of 95450


on the basis that we are getting nearer and seems to be political progress I raise my target from 150p: Buy all the way to 220p. Just my own pathetic view and should be taken as such.

Troys - 29 Aug'07 - 13:24 - 95449 of 95450


2-----35,000-----138 V 142-----------5,000---------1

lex1000 - 29 Aug'07 - 13:24 - 95450 of 95450 edit


mms struggling to keep lid on this.......lol

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Hi,
lex1000
no good trying to convert me I was converted three yrs ago,
there is nobody getting their hands on my 2 shares,

good to see a sense of humour on here..things looking good and confidence up for most..next month can't come soon enough either way as the s.p. will grow on speculation alone..bound to be some shorting as people hit their personal targets..but 220p sounds fab to me

watcher

AJJ2003 - 29 Aug'07 - 15:07 - 95546 of 95549


This is more important! Gives breathing space to get things sorted.

Iraqi Cleric Suspends Feared Militia
Updated: 14:52, Wednesday August 29, 2007

Shi'ite cleric Muqtada al Sadr has ordered a six-month suspension of activities by his Mehdi Army militia in order to reorganise the force, an aide has said.

Members of the Mehdi Army militiaSpeaking on Iraqi state TV, Sheik Hazim al Araji said the goal was to "rehabilitate" the organisation.

It has reportedly broken into factions, some of which the US maintains are trained and supplied by Iran.

Advertisement

Mr Araji, reading a statement by Mr Sadr, said: "We declare the freezing of the Mehdi Army without exception in order to rehabilitate it in a way that will safeguard its ideological image within a maximum period of six months starting from the day this statement is issued."

The order was issued following two days of bloody clashes in the Shi'ite holy city of Karbala which claimed more than 50 lives.


Cleric Moqtada al SadrSome 247 people were also injured after fierce fighting erupted between rival Shi'ite militias in Karbala during a major religious festival.

Officials were forced to abandon the celebrations and ordered up to one million Shi'ite pilgrims to leave the southern Iraqi city.

Police imposed a curfew on the city. Iraqi security officials blamed Mehdi militiamen for attacking mosque guards, some of whom are linked to the rival Badr Brigade militia.

A spokesman for Mr Sadr denied his organisation was involved in the Karbala fighting.

Mr Sadr called for an independent inquiry into the clashes and urged his supporters to co-operate with the authorities "to calm the situation down", Ahmed al Shaibani said.

The celebrations mark the birthday of the 12th and last Shi'ite imam, who disappeared in the ninth century.

http://news.sky.com/skynews/article/0,,30200-1281845,00.html

bahouse - 29 Aug'07 - 15:08 - 95547 of 95549


slong

This is a rerating of Pet which laid dormant while other phoney oil cos were 10X. There is real substance behind the sp and HCL should take it up a lot further BECAUSE THE CONTRACTS ARE THERE JUST WAITING FOR HCL ANNOUCEMENT. THE OIL IS THERE TOO.....THERE IS NO RISK NOT FINDING IT. ONE PSA IS WORTH A CONSERVATIVE 5....BIG OIL COS WILL NOT OPERATE IN IRAQ...IMO NEEDS PET AND LOVES PET.........add one more item please, lol...........

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Wakey,wakey PET ticking up.Can spoon feed information,awaken interest peeps do research,up to you pays your money and m,akes your choices.Consider getting in under 150p.Best to be holding than risk being out missing significant rises.aimvho.DYOR

elmfield - 29 Aug'07 - 15:27 - 95558 of 95559


AJJ2003 - 29 Aug'07 - 15:07 - 95546 of 95547

This is more important!

Iraqi Cleric Suspends Feared Militia
Updated: 14:52, Wednesday August 29, 2007

Shi'ite cleric Muqtada al Sadr has ordered a six-month suspension of activities by his Mehdi Army militia in order to reorganise the force, an aide has said.

Members of the Mehdi Army militiaSpeaking on Iraqi state TV, Sheik Hazim al Araji said the goal was to "rehabilitate" the organisation.

AJJ2003

Indeed! And this '"rehabilitate" the organisation'...interesting!!!!!



About as good as my earlier post,we should be zoomoing through 150p+

Old thread 60p-70p >>>>>>>>>>>>>>>>145p-148p.Luverly...............potential double again &........

Hi lex1000
james 1 - 29 Aug 2007 14:07 - 56

Posting to you beats talking to myself majority of the time.Little interest in PET on MoneyAM.Surprises me.

Long as it stops you making rash calcs about the sp carry on.
I remember in the year 04 when Pet was no1 thread on here some guy called Tokyo was the resident Guru then PET was always top of the thread day & night.
Where are they now ?

james 1 , very active thread on advfn. Overflowing with professional investors who know what they are talking about.Posting here to spread the word which may help a few share in making money.

Here's a hint take a look at charts for IEC & CNE.

My research tells me that if anything near what was discussed and disclosed at recent AGM pick a number between 10 and up to 100.In my view PET will at least match CNE 20+. Potential billions barrels of oil in it for PET, far in excess of CNE.

Share price 2-5 is for starters.You have to be in it to win holding long term to make big $bucks.aimvho.dyor.

Lex1000------I see you anticipate holding for 2-5 years, do you have a view on post 26 of 65 by Pinnacles ref the possibility of a Russian, Chinese & Iranian conglomerate forming their own non dollar oil market. Pinnacle has put a time on this happening sometime after the Olympic games next august. PS your posts make encouraging reading, had these for well over 3 years now and will continue for a while yet. Watcher----- you must be ultra bullish to have 2 whole shares ha! ha! methinks you may be missing off some noughts.
2517

Blue = PET of course
Red = IEC
Green = CNE
Blue,s always been my favourite colour

Another cracking day. More to come. :-)

pixi - 29 Aug'07 - 19:36 - 95762 of 95803


David Horgan said 2007 is the year of the Pet and he is not wrong. Who would have thought it a couple of weeks ago, here we are sitting just a tad under 150 and its only Wednesday? Forget all the rubbish you hear about PE ratios and all the other mumbo jumbo, this share is controlled by the first law of economics: supply and demand. Who in their right mind is going to sell this short when the HCL is getting closer every day. Every day we are getting closer to the Big One: 16 billion barrels of the black stuff. Yes sirree, you heard me right: 16 BILLION Barrels and the economists and analysts are talking about $100 per barrel by the end of this year. Mind you, they were also talking about $30 per barrel not so long ago! That just shows you how much they know doesn't it. Lol

How many cars are the Chinese and Indians going to put on the road as they charge at full speed towards Americanisation and how much oil will they need to keep them on the road?

Oil does not grow on trees! Lol