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

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?

Should go a lot higher.....

Will but when?

Wait for appraisal results.....and it will surge...

Algeria now started to see civil unrest. Looks like another Tunisia/Egypt scenario. Tempted to sell if the sp goes above 16p.

Peaceful demonstration in Algiers on Saturday.

.

Petroceltic International plc in association with its partner Sonatrach, the Algerian National Oil & Gas Company, is pleased to announce well AT-4 on its Isarene Permit (Blocks 228 & 229a) in Algeria has successfully tested gas from two zones in the Ordovician at a maximum combined flow rate of 1.35 mmscf/d and 450 bwpd on a 48" choke.

Well AT-4, the first of the current appraisal campaign of the Ain Tsila gas discovery, was drilled to appraise the previously undrilled eastern margin of the Ain Tsila field and was located with the primary objective of maximising information about the gas-in-place rather than optimising flow rate on testing. The well encountered a gross gas column of 155 metres with no gas-water contact interpreted within two zones of the Ordovician reservoir. This gas-down-to is deeper than the gas-water contact currently interpreted in the field. Pressure data from logs and the test indicate the continuity of the Ain Tsila gas accumulation at this location and that AT-4 therefore represents a successful delineation well of the Ain Tsila field.

The AT-4 testing programme initially involved the perforation, fracture stimulation and then isolation of the lower zone with a sand plug. Following this, the upper zone was also perforated and fracture stimulated, the well cleaned out and the two zones flowed together.

The well flowed with a combined rate of 1.35 mmscf/d of gas (1593 cubic metres/hour) and 450 bwpd of water with a flowing wellhead pressure of 160 PSIG on a 48" choke. After isolation of the lower zone to reduce water production, the upper zone was flowed separately at 1 mmscf/d of gas (1180 cubic metres/hour) with an associated 250 bwpd. It is likely that the induced fractures in the well have extended below the current field gas-water contact into an underlying aquifer resulting in the volumes of produced water seen. This volume of water reduced the gas flow to rates significantly lower than anticipated from this well. Testing and sampling operations at AT-4 have been completed and the well has been suspended.

The next well in the appraisal drilling campaign, AT-5, is targeting one of several structural pop-up features in the field with the intention of carrying out multiple fracture stimulations in a horizontal well to improve productivity and ultimate recovery factor for the field. Following the successful drilling of the pilot hole, we are currently preparing to conduct logging operations prior to commencement of the horizontal section.

Brian O'Cathain, Chief Executive of Petroceltic commented:
"The first well in the current Ain Tsila appraisal campaign has successfully confirmed the extension of the field to the East and increased the proven area and calculated gas-initially-in-place. While the volumes of produced water reduced the gas flow rate, the data gathered from AT-4 will enable us to refine our remaining drilling and testing programme in the Ain Tsila discovery in 2011 and ensure we optimise our future plans for the field."

Still in...but gas just does not seem to be the flame of the day at all....another success and the sp drops....

wrong company, wrong location, wrong investment - sorry

Wished I sold out at 15p.....stuck in it ......convinced that it will come back as a very large gas accumulation seems to be there.