Hopefully just a pause to catch our breath before the next run upwards.
2517

struggling to break through the 150p barrier..

watcher

Guys, take it from me PET is a non brainer. There are risks, risks which are diminishing by the day. PET taken a breather. Retail investors are buying. These are preferable rates. Mark my words buy orders are being filled before the next rise.

Market cap increasing will bring in more buyers,Funds Institutional.......When HCL debated and approved by Iraqi Parliament will bring in more buyers.............When PET signs contracts will bring in more buyers..........When Oil in the ground reserves are proven at 'x' million and possibly 'x' billion PET further re-rated and will bring in more buyers.........When further contracts won the same...........When in a few years PET becomes Independant Iraq Oil producer with black stuff coming above ground for selling further re-ratings and will attract even more buyers.

Rare circumstances in Iraq,unique position PET set to benefit and deliver significant investor value.

Hang on until sp has risen much higher potentially double,double and double again.Ridiculously cheap but does require approved HCL in first instance followed by contracts awarded to PET.Watch this minnow company grow into a major company in Iraq.PET ready and waiting and CAN start work immediately with advantage in years over most majors can and currently are working in Iraq,with Iraq company,Iraq Directors,Iraq workers, well in IMO and militia Souther Iraq and Iran.

IF you want to maximise profits,HOLD,HOLD and HOLD. PET is getting noticed,buying in earnest has already started.69m/74m shares in issue.Estimated that free float approximately 12-13 million. PET is worth more supply and demand,positive newsflow and ongoing re-ratings will drive sp higher and higher.

Keep the faith.Multi-bagger you watch and you see.aimvho.DYOR.




http://www.easier.com/view/Finance/Investments/Stock_Market/article-137369.html

Top Ten Retail Investor Buys & Sells for week ending 31 August 2007
31 August 2007

Angus Rigby, Chief Executive Officer, TD Waterhouse, commented: Investor interest has been high in resource stocks this week, with a number of TD Waterhouse customers taking the opportunity to increase exposure to the oil and gas sector by buying heavily into Petrel Resources. Share price in the Company is hitting annual highs of 148.50p, up over 219 per cent this year on last.

However, some of our other customers took this opportunity to take profits with Meridian Petroleum and Max Petroleum reaching number six and eight respectively on our sells list. Share price in Meridian which is due to announce its interim results next Thursday is up over 5 per cent on last week, possibly boosted by reports that commercial sales at its Orion 36 well in Michigan; USA are exceeding initial expectations. Meanwhile, Max Petroleums share price continues to slump further from last week, down over 10 per cent, a slide of almost 50 per cent month on month.

Elsewhere on the markets, investors sold off stock in solar cell producer Renesola, the Company had recently warned that its financial target for the year could be adversely impacted by a cut in its 2007 production outlook. Profits were surging early this year but August sees share prices down by almost 50 per cent on July, slipping 7 per cent this week. Despite this fall, share growth in the Company is still up by over 70 per cent on the year after stellar gains from production capacity expansion and a number of sales contracts wins.

TD Waterhouse Top Ten Retail Investor Buys & Sells for week ending 31 August 2007

Top 10 Buys
1 Barclays
2 Partygaming
3 Royal Bank of Scotland
4 Northern Rock
5 Petrel Resources
6 Standard Life
7 Tanfield Group
8 BHP Billiton PLC
9 Empyrean Energy
10 Worthington Nichol

cojones - 31 Aug'07 - 19:08 - 96907 of 96907


This is getting way to exciting for words...law is a MUST, HCL literally round the corner, PSAs' the next attraction, this smells SUUURGE all over it!!!!

If no bad news arrives over the weekend and the positive articles continue we will see one hell of a blue monday IMO. DOW UP and doing fairly well also to add to the party.

good luck to all holders.

PS. PIXI, did you sell out of PET or did i misinterpret your post earlier?

PSS. 14inchway, i heard you were unable to follow procedures as you are away but have your mobile phone with you. Quick bit of advice for all really!!!

I have a mobile phone on the 3 network,
i pay 35 a month for a Direct Talker1000 with X-series, that includes:

750 free minutes
150 free video calls (that no one ever uses)
150 free texts
and most importantly, Unlimited data ;) (that lets me view charts and post on ADVFN), all other sites too.
*-install a FREE browser called Opera Mini @ www.Operamini.com compatible for almost all mobile phones. (check it out, an invaluable tool and very quick).
and you can check how crispy kp is getting roasted!

not sure about surfing abroad costs though!!!

cojones - 31 Aug'07 - 19:20 - 96908 of 96910


by the way, copied this little snippet from fingers that had this to say about the PET chart if it closed above 150p. found on PET's 'Petrel Resources Charts, News and Press Articles analysis' post no. 31. recently:

So what next?

Strong moves, and high volume, is also a good indication of growing 'market' interest, and anticipation of good news .. as long as the 'high volume' continues, the price will continue upwards .. as the volume drops, so will the price.

In the short term, 150.00p is another 'psychological' resistance level, and may result in some profit taking, and retracement .. if so, to the downside, look for support at 125.00p.

If the price should close below 125.00p, then look for 'support' and a possible 'bounce' around 112.50p.

To the upside, watch for a sharp move up through 150.00p, accompanied by 'high volume', and a 'close' above .. this would suggest to me that 175.00p is its next target, with the 162.50p 'mid price' level also having an influence upon the price movement.

- could we be on the next leg up?!

pixi - 31 Aug'07 - 22:40 - 96931 of 96931


fats

Petrel has got MASSIVE potential in Iraq.

Pet is sitting on top of the third biggest onshore oilfield in the world with recovery costs of around $2 per bbl.

The Iraqis will soon pass the HCL required to attract foreign capaital. They will also confirm Block 6 and announce PSA's. They are also likely to confirm who is going to get the 16 billion barrel Halfaya field. David Horgan said at the AGM that if Pet got the Halfaya it would mean telephone numbers for the sp!

PET does indeed look to have tremendous potential ..... the great difficulty is to determine a sensible fair price bearing in mind that all is just potential, the very clear instability and danger of the area (though that applies to a number of countries in varying degrees), and the timescale before anything can actually be activated on the ground rather than on bits of paper.

one of the most encouraging things (i think) is the strength of sp over the last month ..... sp moved up to just under 100p and fell back to just over 80p ...... encouraging strength in a difficult time ....... since then, as is plain to see, sp has rocketed away to about 150p, so if you are just a potential investor rather than an existing holder, you might well be better to wait for a couple of bad days - e.g. when the hurricane in Gulf of Mexico has ceased to influence virtually all oil stocks.

climbing too fast for my liking, looks more like a spike.

i would not disagree, so if you already hold, there is an argument for taking some profit with a view to repurchasing later.

suggest you take a look at Trades from yesterday .... though inevitably not entirely accurate, i think there may be quite a lot of profit-taking in the pipeline, though yesterday may just have reflected cautionary pre-weekend trading ..... Monday, in general, will probably open strongly, but the markets are likley to be sluggish until USA re-opens and the trend there is seen.

cubano4 - 1 Sep'07 - 10:31 - 96957 of 96977


german newspapers finally discovered petrel:

Hohe Kurszuwhse konnten die Aktien der in Irland beheimateten Petrel Resources
(WKN: 694395) verzeichnen. Die Aktie stieg im Laufe der letzten Wochen von 0,90
Euro auf inzwischen 2,40 Euro. Allein in den vergangenen ff Handelstagen
konnte der Kurs des - und Gasexplorers er 50 Prozent zulegen. Es wird in
Marktkreisen spekuliert, dass Petrel nach einer Gesetzesreform im Irak die
Fderrechte f mehrere felder bekommen knte. Investoren sollten sich
darer bewusst sein, dass derartige Kurssteigerungen aufgrund kurzfristiger
Spekulationen bei Petrel nichts Ungewnliches sind. Bereits 2004 und 2005 wurde
durch in Aussicht gestellte Fderlizenzen der Aktienkurs des Explorers
innerhalb von wenigen Tagen in enorme Hen getrieben. Kurze Zeit sper sackte
der Kurs aber wieder ab. Handelsteilnehmer schlien zudem eine Kapitalerhung
der Gesellschaft auf diesem Kursniveau nicht aus, erklte Steffen Kircher von
der Baaderbank.Quelle: boerse-stuttgart AG / Bitte beachten Sie die Nutzungsbedingungen
(http://www.boerse-stuttgart.de/AGB.htm) der boerse-stuttgart AG.(F den Inhalt der Kolumne ist allein boerse-stuttgart AG verantwortlich. Die
Beitre sind keine Aufforderung zum Kauf und Verkauf von Wertpapieren oder
anderen Vermenswerten.)
Sie lesen Finanznachrichten und Wirtschaftsmeldungen auf ad-hoc-news.de, ein Presseportal der trading-house.net AG. Weitere Bsennachrichten finden Sie unter www.ad-hoc-news.de & http://www.trading-house.net.

m0rty - 1 Sep'07 - 12:27 - 96973 of 96977


For those who wanted a translation
cubano4 - 1 Sep'07 - 10:31 - 96957 of 96972
german newspapers finally discovered petrel:

Using Babel fish translation
this is what came out

High course increases knew the shares of the Petrel Resources (WKN resident in Ireland: 694395) register. The share rose in the course of the last weeks of 0,90 euro to in the meantime 2.40 euro. However in the past five commercial days the course of the oil and Gasexplorers over 50 per cent could add. One speculates in market circles that Petrel could receive the promotion rights after a law reform in the Iraq for several oil fields. "investors should be conscious over the fact that such kurssteigerungen are not anything unusual due to short term speculations with Petrel. 2004 and 2005 through in prospect promotion licenses placed the share quotation of the Explorers was already driven within few days into enormous heights. Short time sagged later the course however again. Action express takers close besides a capital increase of the society on this kursniveau not out ", avowed Steffen Kircher of the Baaderbank.Quelle: stock exchange Stuttgart AG/please considers you the use conditions
("http://www.boerse stuttgart.de/AGB.htm)" stock exchange Stuttgart AG.(Fuer contents of the column alone stock exchange Stuttgart AG is responsible. The contributions are not a request to the purchase and sales of securities or other net assets.) They read financial messages and restaurant economics on ad-hoc-news.de, a press portal trading house.net AG. Further stock exchange messages find you under www.ad hoc news.de & "http://www.trading house.net."

guten Tag
danke

mclellan - 1 Sep'07 - 10:58 - 96965 of 96977


Good to see these kind of articles in Al Sabah

Major planting campaign round dams' locations

Baghdad, Sep.1 p.5
General directorate of dams and water treasurers has started a major forestation campaign for dams' locations with trees to provide good environment and future agricultural and industrial investment in addition to beautify the area through usage of water in the area.An authorized source said that work included forestation of al-Udheem dam after the preparation of 85 acre to be planted with 14 thousand trees of high- oil olive in three phases and to be irrigated by 4 irrigation systems, in addition to build water storage and fence to protect the location with cost of 203 million diners.He added that forestation works has been finished in Deebs dam location in two phases on 20 acre which have been planted by 4500 trees of high- oil olive and other kinds of fruit trees and to be irrigated by siphon and canals with the cost of 66 million diners.


Anbar, Sep.1 p.5
Heet governor has announced the start of a major campaign in the city to rehabilitate local council's building in the city and governorate building and furniture it, and to pave city entrance


Maliki: Reconciliation supported improving security

Baghdad, Sep. 1, P.1
PM Noori Maliki confirmed that Govt.'s strategy of strengthening the national reconciliation led to improving the security situation in Baghdad and other provinces and while he warned of plans aim to return Ba'athists to power and pushing him to resign from the Govt., he stressed on that everyone attempts to topple the Govt. his fate would be failure.Maliki added at his meet with delegation of Shabak's Sunni and Shiite that terrorism doesnt target specific social group or nationality but targets all Iraqis because excommunication statements and fatwas which issued by some spiteful groups and figures against new democratic Iraq.

johnlll - 1 Sep'07 - 11:49 - 96968 of 96977


Morning all
In my view, what we need to sustain these levels and progress onwards and upwards is continued volume. In the absence of volume we could drift back down unless news is forthcoming. Here's some interesting info from the past 2 months.

Date Open Close High Low Volume
30/08/2007 147.00 147.50 157.50 145.25 1,921,765
29/08/2007 133.00 147.50 149.00 131.00 1,408,121
28/08/2007 127.00 134.00 143.00 127.00 2,170,469
24/08/2007 105.00 123.00 130.00 104.00 1,892,147
23/08/2007 93.00 105.00 109.75 92.60 1,025,975
22/08/2007 95.00 93.00 99.00 90.00 652,289
21/08/2007 89.50 94.50 95.75 90.00 314,290
20/08/2007 83.00 89.50 91.00 84.25 412,758
17/08/2007 83.50 82.50 85.00 76.50 1,137,692
16/08/2007 94.50 84.50 94.00 83.00 451,592
15/08/2007 97.50 94.50 98.63 92.40 348,115
14/08/2007 93.00 98.50 102.75 93.00 769,873
13/08/2007 89.50 93.00 95.75 88.00 549,381
10/08/2007 91.00 89.50 92.00 84.50 544,815
09/08/2007 93.50 91.50 93.20 89.00 194,001
08/08/2007 97.50 93.50 99.00 89.00 825,590
07/08/2007 96.00 96.50 105.00 95.15 1,572,867
06/08/2007 87.00 96.00 100.00 85.00 1,316,135
03/08/2007 82.50 86.00 87.00 82.00 671,838
02/08/2007 84.00 82.50 86.00 79.50 519,839
01/08/2007 79.50 84.00 87.00 77.92 902,177
31/07/2007 78.50 80.00 84.00 77.00 988,706
30/07/2007 68.26 78.50 80.00 68.00 1,242,440
27/07/2007 71.50 69.00 72.47 68.26 395,883
26/07/2007 71.00 71.50 74.00 69.00 787,506
24/07/2007 70.50 71.50 73.00 68.40 924,927
23/07/2007 59.00 70.50 73.00 59.30 1,065,911
20/07/2007 60.00 59.00 60.50 58.00 84,935
19/07/2007 61.00 60.00 63.00 59.00 231,454
18/07/2007 62.00 61.00 64.00 58.50 124,231
17/07/2007 60.50 62.00 64.47 60.00 236,914
16/07/2007 62.00 60.50 61.50 58.00 321,946
13/07/2007 63.50 62.00 65.00 60.00 167,329
12/07/2007 63.50 63.50 65.00 62.00 60,390
11/07/2007 64.50 63.50 64.00 61.15 154,898
10/07/2007 66.00 65.00 67.96 63.25 789,842
09/07/2007 66.00 66.00 67.50 64.00 157,259
06/07/2007 63.50 66.00 67.00 62.00 388,789
05/07/2007 61.50 63.00 65.00 61.50 1,020,118
04/07/2007 60.50 61.50 62.46 58.00 552,595
03/07/2007 60.50 60.50 63.00 58.00 442,425
02/07/2007 60.00 60.50 64.00 58.50 295,738
29/06/2007 60.00 60.00 62.00 58.40 134,064
28/06/2007 60.00 60.00 62.00 58.40 96,663
27/06/2007 60.25 60.00 62.00 58.50 113,655
26/06/2007 60.25 60.25 62.00 59.00 166,945
25/06/2007 60.50 60.25 62.47 58.85 322,409
22/06/2007 60.50 60.50 61.50 59.15 114,625
21/06/2007 60.00 60.50 62.00 58.65 180,533
20/06/2007 60.25 60.00 62.00 58.85 403,973





14CHWAY - 1 Sep'07 - 11:49 - 96969 of 96977


Here are my usual sp increases.
This week------22% sp increase.
From 20/7/07---156% sp increase
In last 6 weeks,sp has increased for 5 weeks and only decreased in
one week and that was only a decrease of 7%.
So,everything is looking very rosy and things are falling into place
very nicely.
Good luck to all.

Wapit - 1 Sep'07 - 17:34 - 96979 of 96979


Iraq Oil, Gas, Petrochemical & Electricity Summit
2-4 September 2007, Dubai, UAE

Starts tomorrow......and what will be discussed..

Oil & Gas
Full details of new hydrocarbon laws
Announcement of most up-to-date geological and seismic studies
Special announcement on Iraqi gas reserves and concession opportunities
Drilling and exploration rights
Refineries, oil depots, pipelines and storage tanks
Crude oil marketing to the international community
Details of Northern oil operations, including Kirkuk, Nineveh, Erbil and Diyalla
Management of the 29 central and southern oil fields
Oil refinery operations and new contract and investment opportunities
Pumping stations and pipeline distribution
Technological innovations for the future of Iraqs hydrocarbon industry

...and what question will everyone ask ?..

When will you be passing the HCL !!...

...and when will you dish out the PSA's and to whom ?.

-----------------------------------------------
September 2007 is the month both these could happen IMO...

cynic - 01 Sep 2007 10:36 - 103

Your fantasy portfolio.You did not want to buy @ 87p,however,expressed opinion is to sell.

Buy 10k @ 87p cost 8799.50 gross

Sell 10k @ 150p 14,987.50 net.

Net profit 6,188.00

My opinion is continue to hold fanatasy buy 10k @ 87p cost 8799.50 gross.Compare notes at a later date.

TIM50 - 1 Sep'07 - 19:45 - 96993 of 96994


I know that we have a thread on sp calculation, but the below is more about the principle then about the actual calculation itself, so I hope I'm ok to post it here ?!

Almost all of us expect that Petrel will sign for the title of block 6 soon after the HCL.
In all of the euphoria about possible RSA on S&L, or possibly even for Halfaya, I believe that the value of block 6 is a bit snowed under in the discussions ?
Many times we have heard the 5 or plus target for a RSA, usually linked to S&L, and that this could happen end of September, possibly October, but definitely still during 2007.

But if 5 is the target for that moment in time (signing of RSA), then what happened to the value of block 6 in our sp. Only 1 or so.........?

As a poster wrote here recently, for years and years, up to relatively recently, block 6 was the ultimate price to get for Petrel, the driving factor for long term holders (and I am one of them).
And now that this historic moment is possibly only weeks away, I almost find that it is forgotten to be included in any sp expectation ?

If it is true that DNO got an offer for their oil asset, in fact in an only semi-legal situation due to the lack of a full Iraq HCL, then surely block 6 must represent reasonably significant value as well to "majors", and I would expect to see this somehow reflected in the sp ?

We can't work on block 6 for the first few years due to security. The same goes for the majors. So an offer now already for our rights to block 6 would be a logical step for a major ?
I know that Petrel wants to keep the majors away from Petrel for all kind of valid reasons, but I would expect that it still already is a very significant asset for the company, consequently in the sp ?

I believe an early September signing of HCL is very much in the cards.
If I'm right, it took The Kurds 4-5 days to discuss and pass the law.
With everything now pre-discussed and approved, this timeframe should also be possible for the central HCL.
And Iraq is in a hurry. And the American report is coming up on the 11th. And Ramadan is coming up.
All in all I believe it could be possible that the HCL could be signed 10 September.
So then soon after that a RNS could follow about signing of block 6

What will that bring to the sp ?
I am not sure. But I believe it is too conservative to give 5 sp valuation to signing of say S&L, with block 6 already included in the price.
Standard sp evaluations on S&L itself, really done in a very conservative way, already indicate the 5. Jim Finn mentioned it.
And S&L will come after block 6. (unless of course together in 1 RNS)
So I personally believe in a (much)stronger sp then 5 at moment of S&L RSA.

In summary, my personal expectation is that we will see a significant sp before the end of the year, possibly already during October.
I realise that part of block 6 is already in the price.
But not enough yet !
So it is my expectation that at end of year, with block 6 and S&L signed, the sp will be a good bit over the 5 !

hi lex ....please send cheque - lol! ..... don't recollect the suggestion of sell, but not impossible ...... however, my posts today (101+103) show that i am slowly changing my tune, as all good traders should!

You can always tell a good ramp from the amount of copy and paste posts, of which nearly all on this thread are such. PET has been a hot stock before and is currently enjoying a second coming. Question is, where is the short entry? Time will tell :))

Soon!!

Gentlemen, namely ptholden & halifax ...............

Two of you like trading,shorting,deramping style posts.Comment re PET; your "Posts weak in content."

Please let it be known precisely at the time of opening your shorts and at what price.I will monitor your progress. Risky short this close to HCL and contracts should follow soon after.regards lex;o)

Include previous copy & paste bottom of post, which clearly to you two means a ramp! Approval of Hydrocarbon Law by Iraq Parliament is close.Government have Parliamentary majority to pass HCL.Are you really suggesting that PET is a good short?

David Horgan MD & John Teeling told investors at recent AGM that as soon as HCL is approved PET have been asked by IMO to go to Bagdad to sign contracts.PET asked to put in a bid for Halfaya field.Halfaya is a giant oil field which "IF" awarded to PET, AGM comment in terms of share price 'talking telephone numbers.'Are you really suggesting that PET is a good short?

You may get lucky short window of opportunity only IF HCL approval delayed from September to October.This is the Middle East! If more sellers than buyers PETs share price will go down.I would rather be in than risk being out.Long from 60.5p..............

Agree previously PET has seen false dawns.Here today in 2007 is a NEW DAWN for PET.If you had read anything at all you would know reasons WHY investors are buying PET.The very reasons share price is rising which also reflects Jordan PSA.'Are you really suggesting that PET is a good short?

Halifax has admitted selling PET in hope to buy back cheaper.That has not happened.PET sp has risen higher.Risky short,you know my position long from 60.5p.

Plenty of information in copy & paste form for RESEARCH. You can skip posts providing insight into personal views if you like.Admitedly there risks in all shares.My punt in PET is 3 year hold to 2010.

Please read copy & paste below.FACTUAL.Digest,cogitate and reflect so that you at the very least have some idea of the huge potential involved or remain ignorant.Iraq have billions barrels of oil easy and cheap to extract.PET is set to benefit.

Approval of Iraq's oil law in sight
Wed, 29 Aug 2007 09:43:34
Source: Reuters

Vice President Adel Abdul-Mahdi
Iraq's Vice President says his country's draft oil law should pass by a comfortable majority in parliament after the end of its summer break.

"The oil law was completed in cabinet... the draft that was approved in cabinet is the one that will be presented to parliament," Adel Abdul-Mahdi told reporters on Tuesday, ahead of an Iraqi investment conference in Dubai.

"The parliament remains now in recess and will return at the start of September when we will reaffirm that the law will be presented to the parliament," he added.

The federal oil law, which decides who controls the world's third-largest oil reserves, has been approved by the Iraqi government after months of talks but has yet to be debated by parliament, which must approve it if it is to pass into law.

No date has been set to debate the law, which aims to provide a legal framework to attract foreign investment and set up a new state oil firm to oversee the sector.

The draft oil law aims to ease tension by ensuring Sunni Arabs share in oil profits though most of the reserves are in the Kurdish north and the Shia Muslim south of the country.

But there has been fierce debate over the shares and how much control regional governments will have over the existing and undiscovered oil reserves, as well as the sorts of contracts that will be included.

Abdul-Mahdi said that some appendices to the law could be included to ensure the broadest possible political consensus, even though the law was expected to pass comfortably as it is.