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

Taken from the Irish Independant,09/06/07.

MARKET MOVERS:

Petroceltic International has the boast of being the market's top-performing stock in what has been one of Dublin's worst weeks for a long while.

The share price rose by 10% after confirmation that the company is getting involved in a joint venture in Algeria.

Fingers crossed everybody. DYOR.

andromeda,this time it is for real,anytime between now and AGM July 31.

andromeda,JV is sorted and expect announcement very soon and a slice of Frauleins' appelstrudel for all us long suffering PCIers.....

Hermana

Ya, an alliance with one of our Teutonic friends (E.ON ,RWE,BASF) vould, be most velcome,danke schun!

andromeda,the 1st one is my bet!!!

Nice 170k buy from new Executive Chairman!

3.3p to buy , bargin or what ?

what bargain or what?
down a mere 34% today and surely if any oilies are going to bounce, it will be the reall players and heavyweights and not the squit companies

cynic,do you seriously believe that the total portfolio here is not worth a fly's spit? PCI are now valued at cash position.

along those lines

cynic,prepare to eat humble pie.

That late trader may be a bit sick buying 10mil at 4.9p

fliper,if I had 500,000 to invest this would be where I would put it....

raith rovers

A well timed article to start the ball rolling leading up to the AR in a few weeks time and then on to the commencement of the 2009 Algerian drilling programme scheduled for early April. I am already in for a while now and sincerely believe this is a good a punt otherwise I would not have kept topping up as the price dropped during the markets plunge over the last 12 months.
Of course I want to see it go higher but Iam not a desperate ramper trying to recover lost money. My average is about 4p at the moment and a rise to the 13p with premium Iberdrola paid for their holding would suit me fine and must surely be on the cards in the next 12 months.
.......

Dail Mail
MIDAS: Cheap Petroceltic has huge reserves of money and gas
By Joanne Hart
Last updated at 10:12 PM on 14th March 2009

Petroceltic International does not, at first sight, present the most obvious investment case.

A small company, it is based in Dublin with extensive business interests in Algeria. But appearances can be deceptive and Petroceltic has a number of things in its favour.

The company is a gas exploration and production group that was founded in 2002 and joined Aim two years later. The Aim listing was achieved by reversing into an old mining company that had been quoted since 1984.

This means Petroceltic has thousands of small shareholders and is minded to pay attention to their interests. The group is run by Brian O'Cathain, who has spent his entire career in the oil and gas industry, working for giants such as Shell and Enterprise Oil as well as smaller groups such as Tullow and Afren.

Petroceltic's main focus is an enormous gas field in Algeria, 20 times the size of the Isle of Wight.

Calculations to date indicate it is capable of producing between one and five trillion cubic feet of gas - a huge amount.

The main challenge for the company is to make sure it can extract the gas fast enough and cheaply enough to make the project viable.

Initial signs are extremely encouraging. Algeria is already known as an oil and gas hub and supplies ten per cent of Europe's natural gas through pipelines to Italy and Spain.

Demand for this gas is likely to increase as Western Europe tries to reduce its reliance on Russian gas, after a number of disputes between Moscow and its neighbours left some parts of the Continent without heating for weeks earlier this year.

In addition, BP has a site next door to Petroceltic's and this is producing prodigious volumes. Importantly too, Petroceltic has found support from Spain's Iberdrola.

The top-rated energy group provided Petroceltic with $55million (42million) last year in exchange for a 22 per cent stake in the company.

Iberdrola also has the option of acquiring a 49 per cent stake in the Algerian site for a further $55million and is expected to take that up later this year.

Midas verdict: Petroceltic has barely touched Iberdrola's first chunk of cash so it has about 40million in the bank yet it is valued on the stock market for the same amount, which implies brokers are assigning no value whatsoever to its massive Algerian gas field. This seems illogical.

In a few weeks Petroceltic is going to start drilling wells in Algeria and the results will be published a couple of months later. The share price is languishing at 4.03p, but it should start to motor once the drilling starts. Buy now.


http://www.dailymail.co.uk/money/article-1162063/MIDAS-Cheap-Petroceltic-huge-reserves-money-gas.html

Nice write up - as Midas says "it seems illogical" but unfortunately the stock market is not run by Mr Spock - all the same the argument appears compelling and I guess Monday morning should see a surge of interest

Humming here at last. There may yet be hope for mad markets...

i suspect that this is a similar punt to Mad Max Petroleum the other week ...... a very juicy profit to to be made and taken if you get the timing right .... for the record, Mad Max quickly retreated to its pre-lemming level

cynic,different beasts imo.

arguably so, but ...... anway, not necessarily any hurry to throw money in today, whatever the future prospects