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

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Offshore Italy laws withdrawn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!!!

Over 79m traded and up 12.82%. Bring on tomorrow U say...

Hi Guy's (Code name Gerponville18). I am fairly new to these threads, so I hope you don't mind me joining your thread!

I have been an investor of Petroceltic for a couple of years now. I am still feeling the pain from when I bought stock at £0.105. Bought more stock at £0.05, wish I had at £0.036. Anyway, that’s high risk stocks for you. I am pretty upbeat with the news today. Now the Italians have lifted the drilling rights close to their coast lines we will see the stock rise fairly steadily up to the £0.10 for sure.

Extremely large volumes being bought in the last hour.........Tomorrow could be another good day?

My next wish, is that "Range Recourses" head northwards?

Very frustrating share and a serial under performer. Currently holding from 11p & 10p, but might be tempted to buy more now to have an earlier exit.
(Gerponville - Normandy connection?)

Gerponville Normandy France.........Really?

I am from South East Kent (Pretty Near to Normandy I suppose)!

Update on Italian Offshore Legislation

Decree DL 83/2012 (the "Decree") was published on 26 June 2012 in the Italian Official Journal. The new Decree modifies, and in some cases extends restrictions on offshore oil and gas exploration and production originally introduced by DLGS 128/2010 in August 2010. The Decree is effective immediately, but requires formal ratification by the Italian Parliament within 60 days, and may be amended during this period.

Under the Decree, the restriction applicable to offshore exploration and production activities under DLGS 128/2010 will now apply to activities up to 12 miles offshore the Italian coastline. The Decree also imposes an increase of 3% in royalties payable by offshore oil and gas producers. The proceeds of this additional Royalty will enable the Ministry for the Environment, and the Ministry for Economic Development, to support the monitoring and enforcement of marine environmental protection and supervision of environmental safety for exploration and production activities offshore Italy.

http://www.moneyam.com/action/news/showArticle?id=4398219

Yippee some good news at last!

Silly season at PCI now officially over!

Award of two Licences offshore Italy
Petroceltic International plc is pleased to announce that its wholly owned Italian subsidiary, Petroceltic Italia S.r.l., has been awarded two exploration licences in the central Adriatic offshore Italy.

Licences B.R 270 and B.R 271 are 144.5 km2 and 327.1 km2 in size respectively, and run for six years from the date of award. The Company has also applied for three other adjacent exploration permits in this area, which are currently under consideration by the Ministry of Economic Development. The permits, in water depths of 30 to 150 metres, are located adjacent to existing oil and gas fields which have demonstrated three working hydrocarbon plays in this region; the Cretaceous Miglianico/Elsa basin floor fan, the Cretaceous to Miocene Rospo Mare/Ombrina Mare platform carbonate oil plays, and the Santo Stefano Mare Pliocene biogenic gas play.

Interpretation of 2D geophysical data has already revealed a number of prospects and leads on the permits, at all three hydrocarbon play levels. Future plans involve obtaining additional new geophysical data in order to high-grade prospects for possible future exploration drilling. The permits have been awarded 100% to Petroceltic; however, as part of a farm-in agreement signed with Orca Exploration Group Limited ("Orca") in June 2010, Orca will have an option to earn a 15% interest in these permits subject to the usual regulatory approvals.

I am really disappointed by the lack of reaction to so many good news. I was expecting double digit before this news.

I expected double digits from Range, we all got that one wrong........For now anyway?

Petroceltic.....Hmmmm

Patience will prevail with this stock........They will get there; all my fingers and toes are crossed anyway!

Italy,Algeria and Kurdistan. How many outfits with sub 200m stg Cap are in these prolific regions? This SP stagnation will not last....................

.

ahoj......Petroceltic is rising, very slow, but rising all the same. Will it reach double digits soon? No predictions from me, not after "Border and Southern".........My fingers are much burnt at the moment!

i used to be a fairly keen follower of this little stinker, but as a straight gamble, perhaps just trading momentum, it may be worth considering again for the next couple of weeks


Daniel Stewart maintained its "buy" rating for Petroceltic International (PCI) with a 16p target price. The oil and gas explorer is scheduled to provide an update on the commercial viability of its Ain Tsila field in Algeria on 10th August and the broker expects to see a positive result with the declaration of provable reserves. Daniel Stewart added that the firm is enjoying success in Italy with the Elsa discovery containing and estimated 104.2 million barrels of oil and 3.15 billion cubic feet of gas. The shares were unchanged at 8.05p.