Missed the rise here, the company needs some survey results over whatever blocks they have, then there could be some big climbs, (with drilling to follow), perhaps some way off yet...in the meantime, you might get Evil Knievil about to short again...!

caution says you're right cynic--there are always those happy with a few pounds profit. but with expected new contracts imminent according to those fans who are doing research by the minute! the sp could rocket any day-the next cairn is the comparison. I'd like to trade but am nervous to be out!!

i agree ... if you hold, then stay put ..... but to put in new money would be a brave call

They are a long way off being the next Cairn, you can always say that you have blocks in Iraq (sounds good), but it is surveys and drilling results that count...there are parts of the Saudi desert where there is nothing there !

don't forget Jordan and Iran they have deals there as well.

Ah yes..there are parts of Jordan and Iran, where there is nothing there !

I think that is where Saddam used to keep his CD's..

In Iraq...

'I'd like to trade but am nervous to be out' exactly how I feel, this is the 3rd time PET's sp has got this far, it's peak is the high 150's so maybe that's where it's bound, I know if I sold out the sp would take off so I'm staying put, the potential is huge.
2517

The potential could be huge as long as they get ground where there is oil, and they are not the only oil company in Iraq, we need surveys and drilling dates...

rf they have been preparing the ground for 15 years using Iraqi employees and even got contracts under saddam in 2002. They have been given permission to reopen negs on these contracts and are expected to be on the list of preferred bidders to be out next month. This as I see it is why there is so much excitement as there are massive oil reserves in Iraq.

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Drop today, possible EK at work ?

According to TIPS web site EK has not shorted PET. RQ where do you get this idea from, quite dangerous to short if there is suddenly some positive news from Iraq.

You can short just for one day only if you like, (make a quick buck), EK has shorted this stock before, I (if funds available would like an entry point), but I feel I need a lot more info before coming in, (have been in and out before).

why should you be able to short for just one day?

You can close a short or a long at any time and take the profit or loss !

sorry ... failed to read properly yet again

required field- PET have already done lots of seismic work on Block 6 and have identified areas of interest. See the Annual Report for details on this.
DHorgan is just waiting to be called to Baghdad to have the Block 6 contract 'rubber stamped'. If you read the latest articles available, you will see that they intend to start drilling on Block 6 in spring 2009 .
http://www.reuters.com/article/rbssEnergyNews/idUSL1991225720080219

Crikey 2009, I will have a long beard by then...have a look at AXC, already up and running...

required field...have a read of this:

http://www.proactiveinvestors.co.uk/articles/art.php?PET2