Any experts out there with a view to todays RNS on Algerian gas find ?
Looks good to me but sp is down
Thanks in advance nr

Was expected of course. Farmout and acquisition are next...

StockMarketWire.com
Oil and gas company Petroceltic International has begun appraisal drilling operations on the Isarene permit in Algeria. The AT-4 well on the Ain Tsila discovery was spudded yesterday (November 16).

CEO Brian O'Cathain said, 'The Ain Tsila field is a world-class discovery and we are looking forward to further appraising its considerable potential.'

The field covered an area of over 1,000 sq km with current internal estimates for gas initially in place of 6-14 trillion cubic feet.

O'Cathain said a two-year appraisal extension enabled the company to properly assess the structure, establish recoverable gas reserves and optimise its development programme investment.

It expected to follow the programme with submission of a development plan to the Algerian authorities during 2011.

The directors of Petroceltic International (AIM: PCI), South Boulder Mines (ASX: STB), New Dawn Mining (TSX: ND) and African Eagle Resources (AIM: AFE) will be presenting:
Thursday the 25th November 2010,
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception.

http://www.proactiveinvestors.co.uk/register/event_details/96

This event is suitable for the following: Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists.

The event is not suitable for people pursuing commercial opportunities.

If you have any problems registering or queries please email events@proactiveinvestors.com.

PCI were in Manchester last night.

At long last this should now start to rise....been in for a long time, waiting for a rise....

I could make a very smutty joke at your last comment rf.......but i won't ;))

You have a weird mind Balerboy....

Petroceltic International plc in association with its partner Sonatrach, the Algerian National Oil & Gas Company is pleased to issue an operational update on its Isarene permit in the Illizi Basin in South Eastern Algeria.

Well AT-4, the first of a four well appraisal campaign, was successfully drilled and completed within budget. The well commenced drilling on 16th November 2010, and reached total depth of 2142 metres on 18th December 2010, having successfully cut and recovered 48 metres of core in the objective Ordovician Unit IV reservoir sequence.

AT-4 is a vertical well located approximately 10 km to the east of AT-2 and is the first well to be drilled on the eastern flank of the field. The principal objective of the well was to determine the nature and extent of the gas in place in this previously undrilled area of the field.

The well encountered a gross gas column of 155 metres with no gas-water contact observed. Additionally, static reservoir pressure readings indicated that the main Ordovician gas reservoir in this area is in the same pressure regime as that encountered at wells AT-1, AT-2, and AT-3.

Completion operations on the well finished on 27th December 2010 when the rig was released to move to AT-5. The well has now been suspended, pending rigless fracture stimulation and flow testing over the coming month.

Appraisal well AT-5 was spudded on 9th January 2011 and has an expected drilling duration of approximately 65 days. This well is targeted at a "pop-up" feature to the north of the Ain Tsila field, where natural reservoir fracturing in combination with the near horizontal well bore trajectory may lead to enhanced productivity. The well will be drilled first as a semi-vertical pilot hole, and then sidetracked as a deviated well with a 450 metre horizontal section through the objective Ordovician reservoir.

Baler, FUM have a product that might help above poster....

Pop at last here!!

Rising nicely.....perhaps good for the upper teens now....

You better you bet!

Possible political risk here now if the troubles in Egypt & Tunisia spread along the north african coast.

quite glad i sold the balance of mine about a week ago, banking an adequate profit

Well timed! Traded these 10 days back too.

Still in.....hoping for a rebound....this north african thing is overdone on the downside.....the flow test could send the sp to 20p.....(I hope)....

Why would anyone sell these with the flow test and farmout looming? a 12.75 bargain if you have the funds.

because banking a decent profit can never be foolish and certainly pci's track record is not the best, added to which, there is the general unrest in north africa

Oil Barrel presentation 10/2/11
Brian O'Cathain, CEO of Petroceltic International
AIM-quoted Petroceltic International is focused on the giant Ain Tsila gas-condensate field in Algeria. An appraisal programme is now underway to derisk this multi-TCF find. Petroceltic also has interests in Tunisia and Italy.

Bubbling s wee bit today. Will Big Brian unleash some news early doors and then expand on it at Oilbarrel?