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

grevis2,

all the other oil plays are down today, a good day for PCI indeed!

I would have liked to have heard their presentation at the Oil Barrel conference, which was excellent by all accounts.

Watching closely, may well make an initial investent in PCI.

Andy: Try http://www.petroceltic.com/pub/June_30_2004.pdf

Just noticed 3 nice fat buys, the biggest of which was 500,000.

last one of 250 000 shares. this is on a roll up. Top up time guys

We have an RNS:

"The Company has received a notification dated 6 July 2004 from Carmignac Gestion stating that, they hold 19,600,000 ordinary shares of Euro0.0125 each in the Company, representing approximately 3.9 per cent. of the Company's issued
ordinary share capital."

The last time I looked they held just 4.2 million. So they have increased their holding by more than 15 million in recent weeks. Great stuff!

We are now 13p on the bid.

So Carmignac have been increasing their stake along with Gartmore and Fidelity.

Buyers are still coming in in droves. At this rate we could see 14p by the end of the day. Enjoy the ride!

After Carmignac, Gartmore and Fidelity, will we see another making a similar announcement. All very encouraging!

Looks as though we are consolidating around 13 to 13.25p.

Actual spread has narrowed. Now 13.10p to 13.22P.

Excellent!! Go out then come home and find the bid up .5p and an RNS re Carmignac stake building. Another great day indeed!

gavdfc: How was your shopping trip, or was that a liquid lunch?

Just an ordinary trip to the shops for everyday stuff, no liquids!! May have to go out at this time every day if this is the rise I come home to!

What will this stock be like when they start drilling!

Oil output hike 'not up for review', says Saudi oil minister
AFX
OPEC meeting in Vienna in August will not review hike plan

A decision by OPEC to raise output by 500,000 barrels per day (bpd) in August is 'not up for review' at the July 21 meeting of the cartel in Vienna, Saudi Oil Minister Ali al-Nuaimi said, quoted by the Middle East Economic Survey (MEES).

'Nuaimi said that the decision to raise the OPEC-10 (OPEC minus Iraq) output ceiling by two million bpd to 25.5 million bpd in July and then by a further 500,000 bpd in August to 26 million bpd was 'not up for review in Vienna',' the industry newsletter said in a special bulletin.

The August increment had already been made available in terms of physical barrels anyway, MEES quoted Nuaimi as saying.

oilbarrel.com Conference: Investors Appetites Whetted By News Of Northern And Black Rocks Drilling At Home And Regal And Petroceltics European And North African Ventures

July 2, 2004

Investors have responded to the Petroceltic story.

The share price has not gone up by magic, said Craven. Its because we put in the activity and continuous news flow.

A chief driver of this success has been Petroceltics Tunisian acreage. Describing Tunisia as north Africa for beginners, Craven said the company had received a number of approaches from companies looking to farm-in to its Ksar Hadada licence in southern Tunisia, home to the 400 million barrel Sidi Toui prospect and a number of look-alike structures.

Craven told investors, however, that Petroceltic will hold onto its stake for now. The well will drill to 1,400 metres at a cost of US$2 million and we can absorb that on our own, said Craven. We plan to drill it and keep the equity going forward because we believe we will get better value for it later on.

In Ireland, the company enjoys a royalty stream from the Kinsale gas field, which is expected to provide the exploration outfit with a secure income until 2014. It also holds a 38 per cent stake in acreage around the Celtic Sea gas field, where it has identified two structures in the Kinsale A sands, which are quite distinct from the B sands that have proved so troublesome for Ramco at nearby Seven Heads, and which could hold a combined reserve base of 1 trillion cubic feet.

The conference also saw Petroceltic please investors by announcing a new acreage win, adding Italy to its growing portfolio. As reported by oilbarrel.com, the new acreage lies close the to Miglianico oilfield, the largest oil discovery in Italy in the last 20 years.

Craven added: New ventures are the lifeblood of companies and we are looking at projects in Algeria, Libya and Europe and hope to make announcements in the next few months.

Good article that from Oilbarrel. Lots of good stuff on that site and since the conference, lots of positive talk about PCI. Think the price will drift upwards towards the drilling in AUG/Sept. When the drilling results are known, who knows what the price will do. Good results and the price will go up further hopefully. If institutions keep buying and PCI have to keep releasing RNS's, then I'm sure that will push price up further!

gavdfc: Just walked away for a minute and up goes the price again. Now showing bid/ offer at 13.25 to 13.5p. Just the ticket!

gavdfc:
How are you coping with level 2?
I've just been told EVO are bidding for 1 million shares.