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

MM's moving in!!!!!!!!!!!!!!!!!!!!!!!

Could this be the time they moved Northwards a little?

RNS Number : 3664N
Petroceltic International PLC
27 September 2012











Petroceltic International plc ('Petroceltic' or the 'Company')









Holding in Company






The Company has today received a notification from Worldview EHS International Master Fund and Worldview Special Situations Fund, stating that the Worldview EHS International Master Fund and Worldview Special Situations Fund together have an interest in 151,980,668 ordinary shares which represents 6.414 per cent* of the Company's issued ordinary share capital.





* This percentage shareholding is based on a shares in issue figure of 2,369,605,049 ordinary shares.





Dublin: 27th September 2012






This information is provided by RNS
The company news service from the London Stock Exchange

END

Trading at a slight premium to 5.26p which I make NAV. Interesting to see what effect Melrose gearing will have on new group accounts, one for the watchlist..

Topped up yesterday........My average is 7.5p........I am up really, as I sold out at 8.25, then bought back when the merger was released, should have waited; I am tempted to buy more at the current sp though?

Only good RNS will make this baby move....IMO!

http://oilbarrel.com/news/petroceltic-international-adds-to-its-egypt-portfolio-as-it-plans-10-wells-over-the-next-12-months

Need Isarene fDR here toute suite.

Bit of movement this afternoon as PCI present at Merrill Lynch Conference tomorrow.

Hey Guy's........We have a little movement!

Worth a small punt.........IMO, I feel the SP will be around 9/10p in Jan/Feb.

1) They have a wildcat drill......To spud prior to Christmas.

2) Couple of drills in Italy

3) A further Farm-out deal on their Algeria Gas find

4) Kurdistan drill

5) http://www.proactiveinvestors.co.uk/companies/stocktube/1470/petroceltic-acquires-a-diverse-portfolio-of-assets-with-melrose-resources-merger-1470.html



Interesting interview.........Petroceltic CEO

Sellers(MRS ISA holders) seem to have gone and now we in upward trend!!

Not quite gone yet but deadline for selling is tomorrow.

That's good; I am bored of seeing a sea of red, day after day.

Maybe, just maybe, this share will start to move in the right direction?

market cap £300m+ you might have some time to wait.

Ah well.......Good job my favourate colour is RED!........I am originally from Manchester!

G18 maybe it's time to start thinking blue as your favourite colour.
2517

Blue on this share, no problem, that will happen in 2013 IMO........Keep topping up when I have the funds available. Better company now they have Melrose on board.

I will not change colour to blue in Manchester, now that's for sure.

GLA......Gerponville18

Agrre with above and expecting plenty of blue here very soon indeed.

40M ....... Buy or was it a Sell?

And the SP never moved. But QPP on smaller trades moves up nicely. Can't understand it.

Isarene FDR at last. Now for a wee SP rise please!

Price: 7p Rating: Outperform 30/06/09

FACTS: Petroceltic has issued (January 7th) an operational update. It reviews its current operations and production and the outlook for the rest of 2013. The statement notes that five exploration wells and five development wells are planned and firm for the year. In terms of recent activity, the last exploration well on the El Mansoura licence was plugged and abandoned. On the production side, upgrading of facilities at the Egyptian West Dikirnis and West Khalala fields is on schedule. In Algeria, the recent approval of the Ain Tsila development plan means that the 30-year development phase will now commence. Average production for 2012 was 28,500 boepd (barrels of oil equivalent per day), in line with guidance. Development and exploration expenditures will be $150m in 2013. Net debt at the end of 2012 was $210m.
ANALYSIS: The update demonstrates the enlarged operational footprint of the combined group. The European 2013 exploration programme starts with the Kamchai well offshore Bulgaria and this will be followed by two wells offshore Romania later in the year. The status of the Romanian acreage has increased considerably following the completion of the 3D seismic shoot and recent discoveries in nearby blocks. In July, the Kurdistan drilling programme starts with the Shakrok block where a large anticlinal feature will be targeted. The well will start in July and take five months.
In Egypt, the high-risk Mesaha well is currently at 5,000 feet, a little over half-way to the target depth. A well may also be drilled on the Sinbelaywan prospect. The North Tarif well has been plugged and abandoned (a small infill target that carried only fractional value).
Production guidance for 2013 has been set at between 25,000 and 27,000 boepd. We expect that comfortably in excess of 20,000 boepd will be from Egypt and 85% of production overall will be gas.
On the development side, the approval for the Ain Tsila gas development will allow the conversion of contingent resource to commercial reserves. Egypt will be the recipient of the majority of the development funds in 2013 with $48m allocated to the expansion of production. In Bulgaria, maiden production is expected from the Kaliakra discovery as well as the re-start of production from the Galata field.
The financing of the $150m capital programme in 2013 will come from a number of routes. A borrowing facility of up to $300m is available compared to current net debt of $210m. The group should also generate c.$125m in cash from operations — which assumes a standstill on the Egyptian receivable. We expect the ENEL bonus payment to be realised in the first half of this year (c.$20-25m) and the second farm-down of the Algerian gas project (18.375% out of its currently held 56% stake) is also expected at some stage in 2013.

DAVY VIEW: Petroceltic is one of our top picks for 2013 and this statement does not change that view. Moreover, it demonstrates some of the features we particularly like about the stock. Newsflow is much denser with a higher activity profile. The Kurdistan exploration programme commences this year — part of a general exploration schedule that has a 1.8p risked valuation but 8p in potential upside. Importantly, we continue to value the Kurdistan play at cost (so we do not yet show an upside case for this). Separately the conversion of resource to reserve at Ain Tsila will push EV/boe below $2per barrel, an extremely competitive rating. Unsurprisingly, we carry an 'Outperform' rating on Petroceltic with a group NAV per share of 21.4p.
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