Petrel Resources - moderated discussion/research part II
pixi - Thu, 29 Dec 05 :
I think the coming year will see a significant increase in the profile of Petrel Resources. The push is on is on to increase Iraqi oil production, and Petrel is bound to benefit.
"Middle East E&P is at its highest but region is gearing up for even more drilling activity.
E&P activity in the Middle East is at perhaps its highest level presently, but there are several operators and countries in the area that are gearing up for even higher activity later this year and into 2006 and 2007. Part of the reason is higher commodity prices. Part of the reason is that the area is considered mature for the most part, and some operators, including national oil companies are struggling to keep production on an even level. Additionally, while the region was well known as a major oil producing area, which it clearly still is, natural gas is playing an increasingly important role."
