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

'Cos of the potential in Algeria:

"Commenting on the well results John Craven CEO of Petroceltic said I am encouraged by the results of ISAS-1, our first exploration well in Algeria. The presence of gas at three separate stratigraphic levels confirms our view of the multi zone prospectivity of the Isarene permit and the exploration potential of this area of the Illizi Basin.

Same with any exploration stock, may produce good results, but if you are not in it, you can't win it!

thanks harry you save me from telling him it takes a long time for it to sink in he brought one mouth back........... thats long for cynic...............................LOL

Hmm! ...... shall hold maybe for a couple more months, but if i see something with better potential (like a stock with quality!) then PCI will be for the chopping block ...... perform or die!! .... and if i was consistent, would certainly say the same for GOO and CHP which are another couple of stocks which produce only hot air.

ok cynic...........here one for you Speymill Group (SYG) let me no what you think end of year coming up end of this mouth s/p rising

i get worried when i find cynic on the same thread.
doesnt give me confidence for the company

it worries me a bit that i allowed myself to be suckered into this one .... at least that's certainly the way it looks at the moment

cynic were off again

Petroceltic International PLC
16 April 2007









Petroceltic International plc



Italy - Operations and New Permit Application Update





HIGHLIGHTS:



- Seven exclusive permit applications over Elsa - Miglianico oil fairway
in the Italian Adriatic Sea awarded to Petroceltic

- Petroceltic to be operator of new exploration permit applications with
100% working interest.

- Decision on two further permit applications expected from the
Ministerial Commission in the coming months.

- New seismic interpretation over Elsa block B.R268.RG confirms Elsa
prospect potential.

- Drilling feasibility study completed.

- Shallow gas potential identified on both B.R268.RG and the Civitaquana
onshore block.



New Permits



Petroceltic is pleased to announce that the March 2007 Gazette of the Ministry
of Economic Development, published in April 2007, has confirmed that 7 new
permit applications in the Central Adriatic offshore have been awarded on an
exclusive basis to Petroceltic Elsa Srl ('Petroceltic') a wholly owned
subsidiary of Petroceltic International plc.



These exploration permit areas were primarily selected to access the extension
of the proven Elsa - Miglianico oil fairway, into the Central Adriatic, to the
east and southeast of the existing Petroceltic blocks. They are adjacent to four
oil and gas fields, the Miglianico, Rospo Mare and Ombrino Mare oil fields and
the Santo Stefano Mare Gas field.



Petroceltic will operate the seven exclusive exploration permits with a 100%
working interest. These permit areas, which cover approximately 2,040 sq kms,
lie in water depths ranging from 30 to 150 meters.



The seven exclusive exploration permits are part of an application for nine
permits, in the central Adriatic area, submitted by Petroceltic in October 2006.
A decision from the Ministry regarding the other two applications is expected
from the Ministerial Commission in the coming months.





Italy Operational Update



B.R268.RG - "Elsa" (Petroceltic 40%)



Petroceltic, together with its Joint Venture partner Vega Oil, has now
interpreted some recently purchased seismic data. This data, which is of good
quality, further confirms the potential of the Elsa oil prospect and has
highlighted a number of other leads on the block.



Also the 'Joint Venture' commissioned an independent drilling feasibility study.
This work has now been completed and a number of possible drilling scenarios are
being considered including the drilling of a deviated well from an onshore
surface site into the offshore block B.R268.RG.



Civitaquana Onshore Block (Petroceltic 40%)



The Ministry of Economic Development has approved the required Environmental
Report and is expected to officially grant the exploration permit "Civitaquana"
in the near future.



The 'Joint Venture' is currently evaluating the existing data on the permit
including the potential for a shallow gas play in the block.





John Craven CEO of Petroceltic commented:



"The successful new exploration permit applications are a very important step
in building our business in Italy. Petroceltic now has a comprehensive acreage
position, over the Apulian platform margin (including the Miglianico - Elsa oil
play fairway) in the central Adriatic Sea, which offers exposure to a possible
extension of a proven oil field (Miglianico), an appraisal project to an
existing oil discovery (Elsa), shallow gas prospects and considerable
exploration running room for further upside with the new permits."

Ends

dont encourage him on this thread please...............i have enough to contend with him on other threads

A piece on new Executive Chairman!
http://www.sbpost.ie/post/pages/p/story.aspx-qqqt=MARKETS-qqqm=nav-qqqid=23183-qqqx=1.asp

see charts on posts 105 and 118 ..... unless there is news to inpsire, sp could well stall at this level - i.e. nestling just under 200 dma and rsi starting to look a bit toppy

No cause for alarm with this one yet, imo.
In so much as the chart might provide historical guidance with resistance at the 13p level, any substantial increase is gong to be due to good drilling news, so patience is the key. It hasn't disappointed as much as some others & still worth holding imo.

damning with faint praise indeed .... lol!

The point is that you are happy(?) to put your GOO stocks in the bottom drawer & wait for good drilling news, but I think that PCI has better potential for good news in proven areas for oil reserves. Like most exploration stocks, the sp reacts very quickly to drilling news, whether good or bad, so I prefer to hold as I believe this stock will produce results in 2007.

i suspect that if GOO does not come to life shortly i shall ditch the damn things as they are just taking up funds ..... am actually only holding for entirely the wrong reasons - i.e. Mr P has built a very large stake and seems more inclined to continue to build on it than sell.

GOO (+ VML and CER) is now the only totally speccy E&P stocks i still hold having already ditched CHP and PCI (and GTL) ..... now hold quality oil via PMO (Premier) and quality mining via ANTO and POG ..... i feel that DOO (and PXC!) now has a solid foundation for the future, so will continue to hold

Slightly off topic (PCI), but to support your pick, Shares Mag considers that SIA, PMO & AUL are the most likely to produce positive drilling results this year.
Sorry to hear you lost patience with PCI.

a salutary lesson is that though PMO have just produced 2 (or is it 3?) dusters on the trot, sp has stood up pretty well ..... sp of any mini-minnow would have collapsed to zero in such circumstances as they do not have the spare capital to absorb these inevitable setbacks .... that is why mini-minnows are so dependent on luck

162 million shares traded????

That must be an error, I think. There were a few big trades of over 1 million shares (both buys & sells), but they do not add up to 162 million shares traded, as quoted on many sites, unless something has gone through since 16.55 hours which is the last trade I can see.

Harry,the 79m trade was a rollover from Cantor Fitzgerald as happens every month to avoid stamp duty in Ireand,apparently.

Ah, thanks. I wondered why 20% of PCI stock was traded yet the sp didn't move!!!