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

This extract must be significant at a time when Bowleven and Cove are under the spotlight:

"The company has indicated that it is already in talks with a number of potential buyers."

Bank of America Merrill Lynch:

Initiate at Buy; PO/NAV of 15p; 65% upside potential
We are initiating coverage on Petroceltic, an independent E&P with development
gas assets in Algeria, and exploration assets in Italy, with a Buy rating and
PO/NAV of 15p, offering 65% upside. We believe that the market is currently
discounting the company’s >6TCF (>1bn boe; P50 basis) Algerian gas
development too aggressively, even on conservative assumptions, which we
value at 11p/sh.
http://www.petroceltic.ie/investor-centre/~/media/Files/P/Petroceltic/Annual%20Reports/analyst-pdf/110725%20PCI%20BofAML.pdf

Although primarily GKP i felt it worth highlighting PCI.

rom Gawain on iii.

Hi all,
I've been at a conference for a few days and have been fortunate enough to privately speak with some 'top brass' at Total. They are absolutely confirmed as being involved in Kurdistan and have been for some time, and they are actively acquiring assets - but I have been told that we are unlikely to see ANY kind of public announcement to the effect because it's just "not Total's style" to do this. However, I was also told that Total are keen to pick up blocks first rather than go straight in for takeovers of current players with proven assets.

I've also heard from Petroceltic that the IOC interest in Kurdistan is "at fever pitch" and that many interested parties are active, but just not willing to make obvious public moves first...

The picture I've gained from many people this week is far clearer & positive than many on the message board make out. Kurdistan is highly prized by all and has magnificent onshore assets, almost incomprable globally. But, not all IOCs 'play ball' in the same way, or utilise the same tactics or strategies. There have been and will continue to be many heavyweight political games played out, in clandestine ways, that even the BOD at GKP will likely know little of. Nothing new there then!

What is a 100% concrete certainty to me, as someone fortunate enough to work in the industry and spend proper time with these people, is that key assets in Kurdistan are the MOST desired onshore assets in the world - bar none - and that we must all learn to relax and hold on to/continue to acquire shares in this exceptional company called GKP.

Because it really will not be long before something siesmic happens and we see a rush of bids on the table. When one blinks, the others will stampede...

Just keep holding, and smile. This is one heck of a share. Nothing else like it in the world!!

GLA, and always research carefully before investing, usual caveats, etc.

edit this post
CEO of Total has just stated on CNBC that he is discussing acquisitions of assets in Kurdistan with 4 companies.

his words on Kurdistan are:

"We are now more than looking, we are discussing, with (er) small companies who have already-existing assets, on how we could, in a relatively short period of time, enter into Kurdistan"

he doesn't mention '4' companies at all. he says "small companies", maybe that was just a mis-hearing on original poster's part.
niceonecyril - 19 Mar 2012 08:00 - 3169 of 3169 edit this post

which ones are potential targets?
PCI, SEY, ???

Total buying Wessex for £71m
for a 1.25% of Guyane field!

Results out tomorrow so updates very welcome here.

back to 18p I hear.,.

only if they consolidate the shares!

Petroceltic International plc ("Petroceltic" or "the Company"), today announces its results for the year ended 31 December 2011.

Highlights:
· Successful six well appraisal drilling campaign in Algeria completed on time and under budget.

· Petroceltic estimate of most likely gas resource in place in the Isarene permit area, Algeria, increased by c.70 per cent to 10.3 TCF.

· Enel introduced to the Isarene permit as 18.375 per cent partner. Over US$100 million received to date.

· Substantial progress on finalising with Sonatrach a plan of development incorporating gross recoverable contingent resources of 2.2 TCF of gas and 180 million barrels of condensate and LPG recoverable contingent resources over life of field.

· Sonatrach, Petroceltic and Enel agree to a three month period from 24th April 2012 to conclude the Final Discovery Report and submission of the Declaration of Commerciality for the field.

· Entry into two highly prospective licences in the Kurdistan Region of Iraq.

· Preparation for drilling of high value Carpignano Sesia prospect (formerly Rovasenda) in Italy.

· Strengthened investor base following successful US$60 million share placing in May 2011.

· Funded and well placed to continue to develop and grow the business. Net debt position of US$15 million at year end and cash at 31 March 2012 is US$64 million with no debt.

Robert Arnott, Chairman of Petroceltic commented:
"Petroceltic delivered on all of its key targets for 2011. The Isarene farm-out deal was approved by the Algerian authorities, the Company completed its appraisal campaign on time and under budget, achieving significant success, the plan of development was submitted to Sonatrach on time, and the portfolio expanded through the addition of two highly prospective licences in the Kurdistan Region of Iraq.

The coming year will see the maturation of our Algerian asset towards development sanction, the booking of commercial reserves, and accelerated activity on some exciting exploration in Italy and Kurdistan. In 2012, the Company is well positioned, operationally and financially, to take advantage of opportunities to expand its portfolio".

http://www.moneyam.com/action/news/showArticle?id=4356404

Any views about PCI?

None that I could post here and get past the censors!

.

Lagging somewhat of late!

It appears that there is nothing negative. There are many activities and any single positive one can push it back to 7-10p range.

Algerian second farm-out
Algerian production
Onshore drilling Italy and ? farmout
Offshore Italy laws withdrawn
Kurd seismics and drilling

SP crazily under values all of this, IMO

Tis a joke it is!

Life is joke anyway.
But this company has cash and good prospect.

I agree and picked up a few at 5.6p too.

68mln shares traded today. The next highest voume was 100m when it was moving towards 8p.

If it touch 100mln shares today, the price can get above 10p within next week or two, IMO.

Phoenix Rising for sure!!!