Petrel Resources - moderated discussion/research part II

mixitup12 - 28 Dec'06 - 11:25 - 56566 of 56577


SS - Where did you get the $157 million dollars from, pick it from thin air? A PSA is, when translated for your benefit, a Production Sharing Agreement. I don't see exploration in there, but definitely production, that means producing the oil from the ground. I am glad I don't hold shares in the 5 companies in which you are a director, nor would I like to ride as a passenger in your helicopter! You don't sound very bright to me!
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Mixy, you have now exposed yourself as a complete cretin! $197million then!

And this is what the Iraqis are paying PET to do!

"The project is to develop existing reserves to raise production from under
50,000 barrels of oil daily to over 200,000 barrels of oil and 120 million cubic feet of gas daily."

Above is what pet are attempting to do now AND WHAT THE IRAQIS ARE PAYING FOR!
Why would they then give PET a further bonus by way of a PSA when all the work is done and paid for?
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Mixy, before you produce oil you must first find it! It`s called Exploration! And is why Iraq need the major oil companies millions - to explore and produce so that Iraq can get a share of the profit without spending money like they had to do with the PET contract. IRAQ NEED COMPANIES WITH MONEY TO SPEND NOT COMPANIES LIKE PET THAT THEY HAVE TO PAY FOR THEIR SERVICES! STILL DON`T GET THE MESSAGE?
YOU ARE A WASTE OF SPACE MATEY!




Petrel Resources Petrel formally signs Subba & Luhais oil field contract in Iraq


LONDON (AFX) - Petrel Resources PLC said it has now formally signed the
197.4 mln usd Subba & Luhais oil field development services contract with the
Iraq Ministry of Oil as announced on Sept 7.
The project is to develop existing reserves to raise production from under
50,000 barrels of oil daily to over 200,000 barrels of oil and 120 million cubic
feet of gas daily.