Charts for PCI
5 days

PCI thread

seawallwalker - 22 Sep 2006 16:57 - 2 of 4

I'm no expert but your question intersted me enough to look around and see why the PCI sp had not flown.

Far from being any market manipulation which is often cited as the blame for these poor responses, here is an explanation from flyingbull on TMF.

Seems about right imo.

"For me, the keywords in the well update are

....tight sandstones....further evaluation......well stimulation via hydraulic fracturing.....

As expected, the problem is the tight reservoir. "Tight" is one of the scarest words in upstream oil industry. ;-) It seems in their judgement, conventional cased hole testing would not produce the expected flowrate. If they took a chance on cased hole testing, future hydraulic stimulation would be compromised. Hence openhole testings. At least they could go back into the well and perform the expensive hydraulic stimulations by optimising the casing and perforation programs.

If every production well needs to be fracture stimulation for production, especially in the desert, it may render the project uneconomic.

Personally I would not be encouraged by the news. Prefer to take a wait and see approach."

fb

Master RSI - I'm sure you will have seen that, your thoughts?

Mine are if he is right and it comes to pass the bottom would be retested at 8p.

Good morning traders!

In Asia today, the Hang Seng ended the morning up 61.69 points at 17,662.34, while the Nikkei was recently at 15,627.05, down 7.62 points.

Light sweet crude for November delivery fell 60 cents to $59.95 a barrel in midmorning Asian electronic trading on the New York Mercantile Exchange.

Happy trading!

G.

seawallwalker

re- PCI

I DID NOT LOOK AT PCI thread before publising the table.

I do not know "TMF" is right or wrong on its intetions, but "tight" one can use it for anything includind "pussy" and I do not mean the cat.

The company would not rush a RNS if what "TMF" is saying on the article.

Maybe "TMF" is a shorter and that is what many trying to bring the share price down for some time.

Good luck if you have a go, but the shares this morning are already UP by a 0.25p on a very good L2 also 3 v 1 on a tight spread 13.75 / 14p

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Master dont get miffed.

I have no intention of shorting this, but I have held PCI before and seen 8p after a great drilling result where they missed the target and ran out of time with the rig, so as to rectify.

You are welcome to them long or short.

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