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

Will 5654 man turn up again today I wonder?

Iberdrola has the resouces to buy a big fish so one has to wonder why they attached themselves to a tiddler. They are part of the consortium building a gas pipeline across to Algeria and need to fill it with something other than fresh air. PCI has a massive acreage with gas known to be beneath it. All they need now is to prove it's viability.
Algeria strategy and objectives to April 2010
7- 9 wells planned in 2009 to:
Secure existing discoveries for future production
Prove large gas resources (>2TCF) on Ain Tsilla Ridge 3D
area
Obtain early oil production at GTT
Secure existing gas discoveries for exploitation via
adjacent planned infrastructure
Drill remaining exploration prospects
Capture 2P reserves
Drilling Rig Contract signed for KCA Deutag Nomad Class
Rig T-212
Drilling starts end Q1 200

This appeared on moneyam at the end of trading: 1,500,000 at 7.25p.

It's not the first of its type to be disclosed at the close of play. There have also been some strange trades of late. Just wonder if we are seeing stake building.

grevis,only a question of who?

Two large trades have appeared at the close of business.
timed at 10:50:20 = 2,500,000 at 7.10p
timed at 10:50:14 = 2,400,000 at 7.30p

The sp should get going soon with drilling soon to start...at a guess : we will be spudding in 30 days time perhaps less !, Happy Easter all by the way !.

nite ram re your interesting post -

Hermana your projections give cause for concern. Please forget your coffee flask
but by all means prepare for a seat on your potty w/c 20th inst.

Announcements might be a day or so earlier as your company progresses many of the options and opportunities outside the commencement of Algerian drilling programme, which I add is going to plan.

Lastly, I say well done. You and some others have been more than patient awaiting
what I can only predict as a very large reward.

Would appreciate it if you could elaborate on the above post as you obviously seem to have some exciting info.
Thanks Corker

I've posted this on another BB where someone had sold as he was fed up with waiting for something to happen. I hope it will help those who are feeling much the same.

The MMs know that a prolonged drilling campaign is just about to start and they will take your stock if your willing to let them have it. Once the campaign really gets going then we should see interest rise once more. The nervous should never buy into this type of share. For goodness sake, don't buy in if your going to fret at every turn. Of course it's speculative, but if we can believe all we have been told then there is a lot to look forward to. If not then those newspaper journalists will look a bit sick and so will Iberdrola who has stumped up a lot of cash for this venture. Oil and gas has already been dicovered in their Algerian permit, so they will have a good idea where to look first. I'm looking forward to the ride; it will undoubtedly be bumpy, but great fun nevertheless.

grevis,ooodles of upside too.

This was posted earlier. If the informant knows his onions then we are getting closer to an RNS as the board has promised to keep us well informed of developments as the drilling programme gets underway:

"Can give you some encouraging drilling news.

The equipment is moving on to the drilling site in the next few days followed by the rig personnel on the 8th April. They are now hoping be in a position to spud during week 17 (before the end of April) which is earlier than previously thought.

They are only drilling around 3000 feet so the drilling should take approx two weeks. It is a new team however so the first well might take slightly longer

No idea if they intend to issue rns about this or not."

Spud not long away...

These have been the times of the last four RNS issued by the company, all of which have appeared after hours.

31/03/09 16:31 Petroceltic Intnl (PCI) Directorate Change RNS
20/03/09 17:00 Petroceltic Intnl (PCI) Well Services Contract RNS

25/02/09 16:40 Petroceltic Intnl (PCI) Second Price Monitoring Extn RNS
25/02/09 16:35 Petroceltic Intnl (PCI) Price Monitoring Extension

hermana: Presumably the MMs would pick up on any impending news before we do!

When will it be?

grevis,between today and May 5 is my guess.

We are so close now. With so much about to happen, it should keep us on our toes.

OIL FIRMS IN GEAR FOR THE BIG DRILL
OIL TANKER: Companys are gearing for great finds
Saturday April 4,2009
Backed by this speculative appeal, exploration companies with good stories to tell such as West Africa-focused Afrens exceptional drilling results from the Ebok field by Nigeria offering the potential of 106 million barrels of oil have begun to tempt investors back into the market. Petroceltic International has high hopes for its forthcoming drilling campaign in Algeria, having secured funding from Spanish energy giant Iberdrola, while Xcite Energy has reported outstanding progress in demonstrating the commercial potential of Bentley, one of the biggest proven but undeveloped fields in the UK North Sea.

The danger of chasing the sector is that you will get flurries of activity, followed by periods where nothing is happening. Investors should be buying specific companies for the long term where you believe in the strategy.

Picking up at last.

Spud soon?

Heading for 10p.