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

shooting up further.....thanks hyleo again for good chart advice yesterday

PET is definately a long term plan.......with big targets and issues to overcome..the matter of iraq needing the oil to flow has got to work in their favour and as correctly mentioned jordan is on the horizon....it is all about time and effort from them and of course 'collecting' on the dips

watcher

You are welcome, scot. PET is a good buy at the moment.

any initial target hyleo? or will it gush up again?

PET could fly on IOM contracts news out by end June.

I agree with you, Master. PET is the favourite to win the contracts as they have been in the region since its establishments in the 80's.

Rumours of a 'Major' buying out PET going around the City today.

Already known in the Oil industry that PET would be bought out, when the action started over Iraq contracts, sp should be back to 1 by Friday.

what major is involved? can u give any more info?

if pet is going to be bought out, then price must be massive as they are only western industrialised nation there and been there working for 10 years......so are hardly going to be there that long to be bought out for a few pennies.

Yes, thanks for the good news. PET would be a STRONG BUY at a cheap value of 60p

well they were 1.50 plus end of last year which is only 100 million ......so any major will need to give at least 2 esp if pet get decent amount of work from contracts. sp held up well under hammering today

if rumours of a major on scenes why then is the SP going down? even in todays market conditions rumour should surely make SP go the other way.

agree robert......dont know as i dont live in raghead city to listen to rumours.

i was talking about london by the way, lol

TheMaster - 01 Jul 2008 11:47 - 741 of 748
Rumours of a 'Major' buying out PET going around the City today.

nkirkup - 01 Jul 2008 11:52 - 742 of 748
Already known in the Oil industry that PET would be bought out, when the action started over Iraq contracts, sp should be back to 1 by Friday.
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It is Friday ?

thats why its up 3p today so far, lol