Me thinks the recent pice rise was in part due to the article in todays Times newspaper on Iraq, possibly having the largest oil reserves, larger than Saudi Arabia!

All we need is for PET to get it's hands on some of it.
2517

news coming soon I think as meetings between DH and top officials plus a major are rumoured to be going on this week----I hope so!

Likewise.
2517

Doubly likewise

I have added today as the trend is rising and news will be out soon

RNS Iraq will announce oil field tenders on 30th June 2008.

Serious drop here....not in but could have been !.

Did not expect this downturn...came within a whisker of going long on this,... now not so sure....not a very upbeat statement at all....could drop further, now what was I saying about AXC...must listen to myself more often.

looks like buyers recognise a good opportunity when they see one......just a matter of time before something big happens to PET......hurry up pay day....so i can catch the dip before news comes

watcher

I'm very interested in PET....one day they could be drilling .....but when ?, at the moment this an oil service company....no profits in the oil production (shame !), this will get going when the drill bit is turning (or the run up to it)....in the meantime it is all promises.....take a look at FRR...at least they are drilling for good or for worse...if nothing comes up they will move on to the next well....anyway coming back to PET...which way is the sp going to go ? ...could remain stagnant for months now.

probably move fashionably lower for a while and then........gush

I might be wrong but this could drop further on monday...down below 70p....ahhh ! the joys of investing....getting it right nowadays take some doing !.

good shout about the s.p. dropping.............time to be dipping in again..........hurry up payday..................

PET looks too cheap now...good buy

PET looks like a crock of shite. I had a bit of banter with Lex some months ago who insisted it was the investment of a lifetime, I disagreed, stating I thought it was a cracking short at +100p. Can't say I'm especially pleased I was proven correct, but on what basis is PET now too cheap? Are you going to post this rubbish on your drastic graph (sic) thread Hyleo? Looks like you've got another one totally wrong!

PET is a bargain at 62p...this has been oversold.

I have been a long term holder of these @ 43p ish, extremely disappointed, took cynic's advice and sold some back along (not near their high), still hold quite a few because I believe they will come good. Whether they are cheap I'm not sure now. More patience required (as per AMER, SER, PELE and several others)
2517

its obviously going to be harder in iraq than in other oil countries.

however, last rns stated that iraqi authorities were pleased with their work on one of their contracts and so they got another field to do work on. yes, they had delays on another of their projects but that happens in life, let alone in iraq.
for what its worth, i think pet will come out good in the end but this is not a share to hold short term due to high volatility....and fact market boys in city dont have a clue about iraq.

iraq also neds hydrocarbon law to be passed......also, even if big oil companies get work, they said they aint going into iraq until its safe....hmmm, at least 5 years plus then......which means more work for petrel i imagine as iraq want more oil.

they also have jordan project as a back up and once they get to drilling, the sp will go up accordingly on this....although thats in future.

anyway good luck to petrel for having courage to work successfully in iraq in such turbulent times.

seems u r right hyleo......i have noticed u have correctly predicted at least 4 graphs recently from various shares. well done and thanks for advice