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

cynic,I can smell coffee.

above charts are pretty easy to read ..... question when/if buying how high one might reasonably expect sp to go (in the short term) ..... at least there should be good support at 4.0p where 25 and 50 dma coincide

No immediate worries as the AR in a few weeks should add more positive vibes and then on to the start of the drilling programme in April.

A good result on the first drill could put it up to the 13p paid by Iberdrola for the 50m last year.

forget the "vibes" nonsense but IF the drilling result is good then of course sp will rocket away ..... but of course that is the great unknown, though certainly algeria has undisputed (i think) huge gas reserves and PCI has to be a far better bet than the likes of GOO and AMER

I cannot believe how long it has taken for PCI to get close to drilling. I last held these in November 2006 when I sold out for close to 15p. Now that they've woken up, would expect their previous high to be tested sometime soon. Good luck!

The following is a reflection of the amount of interest shown in this stock on Monday

Barclays Stockbrokers

All Trades

Monday, 16 March 2009

purchases:

1 BARCLAYS 14.54%

2 LLOYDS BANKING GROUP PLC 4.90%

3 Petroceltic International Plc 3.75%

4 ROYAL BK SCOT GRP 3.44%

5 AVIVA PLC 3.17%

6 LEGAL & GENERAL GP 2.98%

7 BP 2.45%

8 Yell Group 1.62%

9 VODAFONE GROUP 1.33%

10 CATTLES 1.28%


sales:

BARCLAYS 30.40%

ROYAL BK SCOT GRP 6.81%

LLOYDS BANKING GROUP PLC 4.82%

Land Securities Group PLC 2.71%

AVIVA PLC 2.27%

PRUDENTIAL 1.59%

HSBC HLDGS 1.56%

LEGAL & GENERAL GP 1.12%

VODAFONE GROUP .98%

BP .98%

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

14th was Saturday, so story is now history

cynic: But not the share price!

gr,Northern winds!

Take a look at today's article in citywire. Page 2 mentions Petroceltic and it's potential due it's link with Iberdrola.

http://www.citywire.co.uk/professional/-/news/other/content.aspx?ID=333641

Posted on another BB:
We now have 3 tips this week. Mail on Sunday, Shares Mag today and tonight the London Evening Standard.

From The Times

March 20, 2009

Bid rumour lifts Petroceltic International

Petroceltic International rose 0.58p to 6.58p as the oil explorer was identified as a potential bid target for Iberdrola, its 22.6 per cent shareholder.

wont be a takeover for a year or two..

How far do you peeps think these will go. Should I take some profit or stay in for the ride.

Sell,Sell,Sell.

just set a trailing stop to guarantee a profit

Shares Mag says "With plenty of cash, the prospect of near term news flow as well as opportunities in the longer term, PCI looks attractive - particularly given it's lowly valuation - Buy".
Worth holding/waiting for drilling news, imo.

Climbed aboard yesterday.....in the nick of time it seems....will go above 10p when drilling starts !.