New Projects and good prospects. will be the winner in 2004. IMO
25p in early 2004

This thread has gone a bit quiet. Has everyone lost interest? I've no position at present, but keep an eye on it.

I e-mailed them asking if they could outline their plans for the coming months, or point me to a statement from them that would help. No answer so I assume they haven't any.

peeyam - we've heard it all before on pci and pet and most of us are out of pocket.

Just been quoted 8p to buy, an original target of mine, but now not convinced they won't drift lower.

Blimey, had to go 3 pages to find this thread.

Thoughts anyone?

Hiya Big Al......Still on my watch list.....wont be able to leave this one all year I know that much!

This stock needs REAL news before I climb back on board, and then only when it has upward momentum.

There are better ones out there.

Any ideas which ones they are Big Al?

I still have SEY and HNR for Q1 or Q3 2006.

It's a game plan at least!

Al,

Can't see me being in any hurry to come back in here. At most, I might look to come back in with a short term trade, but won't be holding on like last time for any drilling results. Think there are a lot of unknowns still regarding what happened with Sidi and my confidence in PCI has long gone. However, should things change then I may change my outlook.

A happy New Year to you all.

Cheers

Gav

amber/sw - how you both?

Not looked at much as yet for the year and currently a bit ambivalent on oils. Don't envisage the sector performance of last year, but you never know.

PCI needs good news. Still maintain management made a complete hash of last month's well. Chart says short, but not playing at present. Feel fiasco will take a long time to wear off.

Yep here here Al, didnt say when but im sure there will be some opportunities, but as sww says - there are better stocks to play with at the mo...Wishing you skill and courage for the new year (well just that luck didnt help me much in '04) :>0

I good thanks Al :)

Not doing much, seem to be backing the wrong horses just lately. (damn it!)

Exercising a little patience and watching others, like the PET holders and daves dazzlers who has made a few quid on that stock. (series of longs and shorts, a real master!)

.."could do better" - still holding large sum - expect 3-4 months gradual recovery, suspect pci will only release good news from now on

lots of blue on there.. !

Looks as though the recovery is now underway. EVO have a 10p value and they still have to complete the exploratory drilling in Tunisia.

Someone seems to be accumulating too which is always a good sign.

i cant get excited about it moneyman as i bought in at 16.5p last august.

IMO it looks precarious from both a TA and fundie view.

No position and unlikely to have one in the immediate future. There's better prospects about.

Petroceltic International (PCI) Add (from)
Mkt cap: 54m Net cash: 13m Drilling news Price/Target: 9.75p/10.9 p
ST-3 well fails to test hydrocarbons in main reservoir
Petroceltics failure to test hydrocarbons is a major blow for the NAV in the
short term. Removal of the risked exploration value of ST-3 cuts our NAV
from 32p to 10.5p/share, a value underpinned by core value
Petroceltic announced on Friday that their ST-3 well failed to recover
hydrocarbons from the main reservoir horizon. Although oil & gas shows were
recorded over a 177m interval (1023m to 1300m) - in line with expectations.
Reservoir quality was always the main risk in this exploration test, the fractured
quartzites ability to flow being identified as the major risk risked at only a 40%
chance of success in our note of October
Although the well is suspended, as the company would like to investigate
hydrocarbon shows in a higher interval (835m-900m) at a later date, we have
removed the total value of this prospect from our NAV for the time being.
We estimate the core value of the group is around 10.9p/share consisting of
0.2p/share for the Celtic Sea royalty, 8.6p/share for existing reserves in Algeria
and 2.1p/share cash on the balance sheet
Petroceltic - Summary NAV
Value p/share
Celtic Sea Royalty 1.5 0.2
Algeria existing Sonatrach reserves (380bcf) 53.0 8.6
Balance sheet cash 13.0 2.1
Core NAV 67.5 10.9
Risked exploration
Algeria (HTT 1 in 4)) + oil potential (1 in 10) 145 23.5
Italy (1 in 4) 46.4 7.5
Ireland ( 1 in 5) 17.0 2.7
Total NAV including risked exploration 275.9 44.6
Source: Evo Securities
There is still a great deal of exploration upside in the stock in Algeria and Italy (at
least 33p/share), but we wait until we have firm drilling plans before we push our
target price higher.
ST-3 encounters shows but fails to
test
Reservoir quality was always the main
risk
We are removing Tunisia from our
NAV for the time being
Core value of 10.9p/share
but lots of upside in exploration
when drilling plans firm
PETROCELTIC
FROM 3/12/03 TO 3/12/04 DAILY
DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
x10-2
35.50
36.00
36.50
HIGH 0.36 3 /12/03 L OW 0.36 3 /12 /03 LAST 0.3 6 Source: DATASTREAM
6 December 2004

moneyman thanks for the info - interesting reading even at 10.5p some profit there as its at 8ish currently - like most am in it c17p for medium term

EVO Broker note is brutally honest.

No position and not likely to have for a while.

Starting to pick up steam. News coming?