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

I have learnt to be patient.....and I will be because there is big, good progress here.....the sp will bounce back....

i hope you're right .... it's a stock that i keep on my watchlist and dabble in from time to time

They are drilling one well after another...at some time soon, the market will price the company up.

Mirabaud Oil Update
Mirabaud Securities Energy Research
2 March 2011


Petroceltic International
AT-4 flow rate underwhelms
This morning, Petroceltic International (PCI LN, Buy, PT 24p/shr) announced an update on the AT-4 appraisal well in the Isarene Permit in Algeria the first of four planned appraisal wells on the Ain Tsila field. The well was designed to delineate the eastern flank of the field and, as previously reported, encountered a thicker than expected gross gas column of 155 metres with no gas-water contact. PCI added some additional colour today, stating that the well intersected two distinct Ordovician zones, with a deeper gas-down-to level than that currently interpreted across the field. However, after fracture stimulating the two horizons, a disappointing commingled flow rate of 1.35 mmscf/d and 450 barrels of water per day (bwpd) was recorded. The lower zone was subsequently isolated using an isolation packer, and the upper zone tested at 1 mmscf/d of gas and 250 bwpd. This concluded testing operations on AT-4 and the well has been suspended. Elsewhere, PCI added that the next well on the field, AT-5, is preparing to conduct logging ahead of drilling the horizontal section.
The headline flow rate on AT-4 is disappointing and certainly sub-commercial. However, the good news is it almost certainly relates to the design of the fracture programme rather than the geology in the eastern side of the field. The explanation put forward by PCI is that the induced fractures extended below the gas-water contact into the underlying aquifer leading to water production, which in turn inhibited gas flow. In all likelihood, this happened because the company decided to fracture the secondary lower zone lying closer to the gas-water contact rather than focus on the upper zone as in previous wells. Once the connection with the aquifer had been established it compromised the testing of the upper zone as well. Had the company stuck to its original plan and only fractured the upper zone, it seems likely that these issues would not have occurred. Indeed, evidence from the well data suggests that the reservoir properties of the upper zone were sufficient to produce at 4-6 mmscf/d on a standalone basis. Consequently, while the flow test results are a setback, in our view, they have little impact on the wider appraisal project or AT-4s main objective of proving gas-in-place in the eastern flank.
PCI shares have been under pressure in recent days due to the ongoing unrest in North Africa and todays news is hardly likely to help sentiment. Nevertheless, the political situation in Algeria appears to be calmer following recent Government concessions, and we expect plenty of news flow from the drill bit over the coming months, accompanied by tangible progress on the farm-out front. We continue to view PCI as one of the few value plays in the sector, and believe recent weakness on political concerns is overdone. As such, we retain our BUY recommendation and 24p/shr target price.

Ticking over here for the moment. Hope to hear of Italy before ProactiveInvestor in Dublin on 29 March in Dublin.

Petroceltic International plc is pleased to announce that it has completed logging and drilling of well AT-5 (pilot hole) on the Isarene permit in Algeria. Drilling began at the AT-5 well on 9th January 2011, and the well reached its total depth of 2049m on 2nd March 2011, having experienced drilling delays due mainly to surface equipment failures on the contracted drilling rig.

Well AT-5 is being drilled to test a major "pop-up" feature in the north of the field and is located approximately 4 km east of the AT-1 well. The "pop-up" feature is one of many such structures typical of the northern part of the field and it is anticipated that these features are associated with high natural fracture density and thus potentially enhanced un-stimulated gas productivity. Mud losses while drilling, together with core, conventional logs and image logs from AT-5 all indicate the interval is potentially highly fractured with some of these being open natural fractures.

Logs at AT-5 showed the objective Ordovician reservoir to be fully gas bearing, and a gross gas column of 75.5 metres was logged, with no gas water contact seen in the well. The overall hydrocarbon pore volumes encountered at this location were significantly in excess of the pre-drilling prognosis. The well was cored with 29 metres of core being recovered from the objective reservoir section.

After completion of coring, drilling, logging and borehole image logging of the near vertical AT-5 pilot well, the well has now been side-tracked as originally planned (AT-5Z) and a horizontal section of up to 500 metres is currently being drilled to explore for high natural fracture density associated with a series of tectonic faults. The faults have been interpreted from 3D seismic data and the horizontal well is oriented to intersect fractures which are expected to be open.

Free event.

The directors of Petroceltic International (AIM: PCI), Ascent Resources (AIM: AST), Caza Oil & Gas (AIM, TSX: CAZA) and Providence Resources (AIM: PVR) will be presenting:Tuesday the 29th March 2011, The Shelbourne Hotel, 27 St Stephen's Green, Dublin, 2 Ireland

FREE registration - http://www.proactiveinvestors.co.uk/register/event_details/105

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. Details on the presenting companies can be found below.

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.

Good evening was had too.

all gas and gaiters?

Aye and SP not reacting to Brian's hope and glory presentation yet.

StockMarketWire.com
Petroceltic International plc reported a rise in pre-tax loss to $12.6m from $6.1m, mainly due to the write-off of exploration costs associated with its withdrawal from the Ksar Hadada permit in Tunisia.

Revenue for the year to December was $0.27m, up from $0.21m.

Exploration costs written off totalled $7.0m compared with the previous $1.3m.

The company ended the year with $82.2m in cash, previously $33.7m.

It raised $120.5m in April to fund the 2010 work programmes in Algeria and Italy and provide financial flexibility going into 2011.

In Italy, prior to the postponement of operations, the company raised over 70% of the funds needed to drill the Elsa-2 well through a 15% farm-out to Orca Exploration and a $14m investment agreement with Gemini Oil & Gas.

Chairman Robert Arnott said 2010 was a year of solid progress for Petroceltic despite challenging circumstances.

'The company has put in place the resources to exploit its world-class discovery in Algeria and the underlying strategy and investment case remains strong.

'The company is well positioned to add value within its existing business through an on-going exploration and appraisal programme, and is continuing to explore opportunities to expand its portfolio in areas that exploit the strengths of our team.'

Exploring opportunities in Kurdistan and Tunisia?

.

Lots of 351 trades today? Pourqoi?

From UK-Analyst.com: Thursday 28th April 2011

Petroceltic International (PCI), the independent oil & gas exploration company focused on the Middle East, North Africa and Mediterranean region, has announced the sale of an 18% interest in an Algerian production sharing contract for a maximum 183 million dollars (110 million pound). The deal, which is subject to approval by Algerian state-owned energy company Sonatrach and the Algerian authorities, would value Petroceltic's Isarene production sharing agreement at between 800 million dollars and 1 billion dollars, the group added. The shares gained 2p to 12p

PCI should rise again nicely on Tuesday once royal hyped day out and Mayday over.

From yesterday's Daily Mail ...

"More than 168m shares in Petroceltic International changed hands and the close was 2p better at 12p following a farm-out agreement of an Algerian asset with Italys ENEL Europes second largest electrical utility company.

The deal is worth up to 111m and ENEL has taken 18.375pc of the Isarene Block which includes the world class Ain Tsila gas condensate discovery."

How far can it get by October? 13p?

StockMarketWire.com
Petroceltic International has completed drilling the Ain Tsila-5z well in Algeria.

The well completed drilling at a total depth of 2421 metres along hole, and has a horizontal section in the main Ordovician reservoir of 376.5 metres.

Good gas shows have been encountered throughout the reservoir section. The horizontal section will now be evaluated by drillpipe conveyed logging tools.

A multi-stage completion will be run on completion of the logging.

The company expects to suspend the well for testing by 24 May with test results expected in June.

At 3:29pm: (LON:PCI) Petroceltic International share price was +0.38p at 11.13p

StockMarketWire.com
Petroceltic International, the upstream oil and gas exploration and production company focused on North Africa and the Mediterranean has announced the signing of a fully termed contract with KCA Deutag for a second drilling rig on the enlarged appraisal campaign on the Isarene Permit.

KCA Deutag's Nomad class drilling rig T-211 will work alongside the existing Dalma Rig LR-12 on the Ain Tsila Field appraisal programme.

Petroceltic has also announced that it has signed two contracts for studies in support of the Final Discovery Report. These are with G3Baxi Partnership Limited for field development conceptual studies and with Ove Arup and Partners for a geotechnical study. These studies will assist with initial concept selection and the location of the facilities, infrastructure and pipelines for the Final Discovery Report.

Brian O'Cathain, Chief Executive of Petroceltic commented: "The contract for the second rig will see a significant increase in the pace of appraisal activity on the Ain Tsila discovery following the recent successful fund raising and the farm out to ENEL. The award of contracts for the conceptual and geotechnical studies is of importance as they mark the start of the move from the exploration and appraisal phases of the production sharing contract into the pre-development phase."