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

Petroceltic International - The 61st Oilbarrel Conference Monday 7th October

Click here to WATCH

Tom did good presentation but market aint in mood for buying just yet!

Huge Marathon Oil find in Kurdistan beside PCI's SHakrok!

Possibility of a massive result here....because there is oil in Kurdistan.....in the event of this current well being successful : the sp could soar !.....surprising ......no interest on the thread here....

Not such a good result so far.....but more testing to come...

i take it that you're lumbered with these dogs ... if so, bad luck

Bought some a few weeks ago....so not out of pocket by too much....good company having taken over Melrose Resources which has producing assets in Egypt...they also have a very large gas discovery in Algeria...Kurdistan is a punt for them...I'll stay put as the market cap is not hefty...

StockMarketWire.com
Petroceltic has booked an H1 pretax loss of $48.5m, substantially worse than the prior year's loss of $5.0m. Revenue was $96.3m, from $103.7m. A large portion of the loss was a spike in exploration costs written off to $64.3m, from $21.8m.

Brian O'Cathain, Chief Executive of Petroceltic, commented:

"Petroceltic's production and development business has delivered a solid performance to date in 2014. The completion of our second Algerian farm-out, the recent Gas Sales Agreement and FEED contract award are important milestones towards unlocking our world class asset at Ain Tsila.

"While our exploration wells during this period did not generate commercial discoveries we have high hopes for our continuing exploration drilling programme in Kurdistan.

We successfully raised $100m via a share placing with new and existing shareholders, providing financial flexibility. We are progressing plans to step up to the official list of the London and Irish stock exchanges by the end of the year."

Highlights:
· First half working interest production of 25.2 Mboepd, 2014 full year guidance increased to 21-23 Mboepd

· Successful share placing to raise $100m

· Completion of second Algeria farm-out to Sonatrach

· Ain Tsila FEED contract awarded and Gas Sales Agreement signed in early September

· Two new exploration concessions ratified in Egypt

· Revenue of $96.3m, loss for the period of $57.4m, driven by exploration write-offs

· Kurdistan drilling operations to recommence in early October

· Step up to the official list of the London and Irish Stock Exchanges scheduled to complete by year end

StockMarketWire.com

Dragon Oil has confirmed is in detailed discussions regarding a possible offer for Petroceltic at a price of 230p per share in cash. Dragon Oil says there can be no certainty that any offer will be made or as to the terms of any offer. A further announcement will be made as appropriate.

good news for those who have been nursing thumping disappointment and losses for so long

Worth more of course!

Always the possibility of a counter bid, larger oil companies always looking to buy smaller companies with proven resources.

The best estimate that I have seen for the sp is 250p on a counter bid. Doesn't look as though anyone is prepared to pay much more than that.

or it may even all fall apart at the seams which is far from uncommon

Yes, I think PCI have to get regulatory approval from the Algerian authorities, so that may be yet another insurmountable hurdle.

If Dragon pull out...ouch....too late for newcomers.....and if I was in...I'd take profits now....always a small chance of a bigger bid, but risky....

RQ,Market is sweating over delay too!

This is rapidly turning into "War and Peace"...

No offer from Dragon,so.

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Timber as the actress said to the bishop!