Without news on the HCL this was always going to drift, recovered a bit today but in recent days has fallen back. The HCL is supposed to be passed before the end of this month, if that doesn't happen then further weakness could follow, the potential rewards for PET are huge imo, as sure as eggs are eggs if I sold now the sp would soar, sorry to disappoint but I'm holding on. Good luck everyone.
2517

Thanks for those words of encouragement George, been holding these for around 3 years and thought that all was well when the sp soared a few weeks ago. Lets hpoe that the news comes soon, would make a cracker of a Xmas prezzie

word on the other side is they think news before the new year but this may be the Iraqi NY which they say is Jan 9th. fingers well and truly crossed---also someone bought an expensive 100k shares after the close last night paying 123p which set everyone guessing!

Recent news doesn't sound overly bullish for PET, does it?

Sell

What news is that Big Al ?
2517

Any of it above really. ;-))

Oh, well that's no basis to recommend a sell, I would certainly not sell a share because of bb's comments nor would I buy because of such comments, there has been no recent concrete news that I am aware of, just views of posters and conjecture, and the awaiting of the HCL.
2517

PET not big enough to finance projects of this size.

They need the big boys to get involved.

The big boys will take over and shunt PET aside.

It always happens. ;-)

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THREAD CLOSED.

sshhh.
2517

Meanwhile Shahristani is moving forward with oil deals on his own
As reported before, Iraqs national oil minister will not wait on a national oil law, instead relying on the Saddam-era law (and irking the Kurds) which gives the Oil Ministry the rights to sign deals.

The Big Oil companies would prefer production sharing contracts, which give them long terms and allow them to add the oil fields theyve been awarded to their books that Wall Street judges.

A source has confirmed to Iraq Oil Report that there are five service agreements nearing completion, where Iraq would pay companies to fix and improve an oil field.

They are:
BP for North and South Rumaila
Shell for Kirkuk
Shell/BHP for Missan
Chevron and Total for West Qurna
ExxonMobil for Zubair

??

Cutting it fine to pass the HCL by the end of the year aren't they?
2517

Final approval of HCL imo is months away. Use existing laws is the way to go.

not buying into this stock is an even better way!

Lex, this is the way of things, first it was going to be September then by the end of 2007, then someone suggested it may be the 9th Jan 2008, why not Easter or next Christmas? Passing the HCL is not under PET's control, the sector is renown for late news etc. I'm keeping the faith.
2517

2517,PET is a buy & hold for a few years.My own opinion hold to at least 2010 ignoring share price fluctuations.Does attract T trading closing banking profits Short term waiting on Oil Minister who has stated that he will issue contracts using existing old laws by the end of the year.We are dealing with ME when imminent,soon,by the end of the year etc have different meanings.Chart waiting on direction.