I was expecting some real ups and downs on : PET,GPX,HOIL and a few others...but : nothing !?...

My understanding was only BP. awarded contract rest of bids were too low, were meant to bid again Have read nothing since. If you already know this sorry!

if so, for sure the pic will not stay that way

there is a lot of hatred of all who had dealings with the previous regime, which will take time to eradicate, this is showing in the way the company had to get funds to continue, and why it had to lay off specialised staff to continue in the game.
since the recent company statement , worth reading,including a very vallid point regarding the fact that the company had no signed legal contract for some areas.
I feel a better gamble would be heritage about to merger with a turkish oil company
in kurdistan area. the authorities will need to tread even more carefully with the kurds than any other party.

Could this be good news at last for PET?
Courtesy of balerboy from the Oil News thread (shortened version)
BAGHDAD, Aug. 3 (UPI) -- The Cabinet of Iraqi Prime Minister Nouri al-Maliki approved a draft law to reinstate the Iraq National Oil Co., sending the matter for parliamentary approval.

Iraqi government spokesman Ali al-Dabbagh confirmed Cabinet approval of the measure during the weekend, the Voices of Iraq news agency reports.

"The Cabinet has decided to approve a draft law on the Iraq National Oil Co. and referred it to the Parliament," he said.

Baghdad sees the reinstatement of a national oil company as a key to boosting oil production while securing government control over energy resources.

Dabbagh said the Maliki government approved the measure to ensure exploration, development and production of national hydrocarbon reserves moved forward.

Previous efforts for a national oil company had stalled over ethnic disputes over the share of Iraqi oil wealth.
2517

why should this be good news for this diddly company?
i really don't see PET as a worthwhile investement for all sorts of reasons, though per the 5 year chart below, if you feel compelled, the 30p may be an entry level to contemplate

Iraq needs to produce more oil and may be, just may be PET will be one of the beneficiaries this time, it sure as hell wouldn't be 'out of turn'.
2517

matter of opinion ...... PET is a nothing company and looks to be in a shit-or-bust position in iraq .... my view is that bust is the most likely

Notwithstanding their non Iraqi interests, you may well be right, especially as the IOM have already dumped on PET, it (my previous post) was just a thought that PET could benefit, no doubt all will be revealed further down the line.
2517

Sold out with a small profit a few weeks ago...

If the buy/sell ratio (almost 1/10) is to be believed then it's strange the sp is up 10%, could be a large buy order in the wings.
2517

If the sells are actually buys the mms aren't fooling anybody.

http://www.moneyam.com/InvestorsRoom/posts.php?tid=14368#lastread

Interims should be due before the month end, both myself and of course cynic are big fans of PET ha! ha! and eagerly await their coming.
2517

No revenue and no settlement yet, if the Iraqi Gov do decide to cough up what they owe PET then the sp should be well north of current sp.
2517

Oil deals being ratified (I think that's the term used) by the Iraq government...might affect PET...any news anybody ?.

not for the better ..... unless i am much mistaken, only BP concluded any licencing deal ..... all that hype about PET on this thread will, i am pretty sure, turn out to be nothing but a load of rubbish and the value of the company/shares, probably rather less ...... no doubt i got castigated for that view at the time

cynic,

How far would the share price have to fall before you took a small punt ?

aldwickk, cynic is such a fan of PET he wouldn't touch them with the proverbial.
2517

my opinion has not changed from the outset ...... i think this is a lousy suppository for any cash - and you know what happens when you insert suppositories!