Petrel Resources - moderated discussion/research part II

flyhi - 17 Oct'05 - 20:25 - 19543 of 19557
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martincoops - 17 Oct'05 - 21:21 - 19547 of 19557

Thanks for your nice find flyhi & martincoops.

This is excellent news. It goes to show what is in store for Pet. As I have said before Jordan has both oil and gaz. The only reason Jordan wasn't exploring its oil fileds was due the fact that Iraq under Saddam was providing it free of charge to win political favour with Jordan. Why deplete your oil resrves when you get your consumption needs for free?

Now that Saddam has gone and Iraq needs all the money in the world (therefore more contracts to dish out) to rebiuld the country, they can't afford to give free oil to Jordan who is now being forced to dig into its oilly ground.

Given all the potential deals in Iraq, Pet, being a small company, wouldn't bother with Jordan if theyn hadn't found oil worth extracting. Why waste time and money on Jordan, when Pet has more than it can chew in Iraq? Simple really.

After all Pet gave up on oil producing Sudan to concentrate on Iraq.

It's getting more and more interesting. I bet SS is wetting his bed with 'oil' now that Sonoran has found oil in Jordan!