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

is today the day!!

Petroceltic International PLC
29 July 2004



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



PETROCELTIC WINS MAJOR GAS BLOCKS IN ALGERIA BID ROUND


Petroceltic International Plc is pleased to announce that it has been awarded
the Isarene Permit (blocks 228 & 229 A) in the 5th Algerian International
Licensing Round which closed yesterday.

The Isarene Permit covers over 10,000 sq kms in area. Six wells already drilled
in the blocks have flowed gas of up to 25 million cubic feet a day from several
Palaeozoic reservoirs. Other wells drilled in the northern permit area have had
oil indications.

Information provided by Sonatrach (the Algerian State Oil Company) states that
there are existing discovered reserves of 380 billion cubic feet (bcf) of gas
with possible resources in excess of 4 trillion cubic feet of gas (tcf) and of
more than 400 million barrels of oil in the Isarene permit.

The target reservoirs are at shallow drilling depths and the permit area is less
than 100 kms from established and operating major gas infrastructure. The
Company believes that the resources therefore can be proved up and
commercialised quickly and at a relatively low cost.

The Isarene Permit is located in the prolific Illizi Basin of southern Algeria.
This basin contains giant producing oil and gas fields including the Tin Fouye
Tabenkort oil and gas field, located less than 100 kms to the north of the
Isarene Permit.

The Isarene permit will be operated through a production sharing contract
('PSC') with Petroceltic and Sonatrach as 75%/25% partners, respectively. The
PSC is scheduled for final execution in September 2004 with a commitment to
drill one well. The company is reviewing its plans and its preliminary intention
is to drill a number of wells in 2005.

Brian Cusack, Chairman, commented 'This successful tender represents a major
milestone for the Company. It is a major achievement to be invited to
participate in the bid round and more pleasing to be successful at the first
attempt. It reflects the growing reputation of the Company in the Mediterranean
area. I believe that the hydrocarbon resources in the Isarene Permit area will
increase the value of the Company and its portfolio and also present significant
upside potential. It furthers the Company's strategy to acquire acreage with
substantial upside in the short term at not great cost. The Company is
considering an aggressive drilling strategy in 2005 to prove up the potential of
the area.

It is also very pleasing that all the other successful companies in the bid
round are all major international oil and gas companies including Statoil,
Sinopec, BHP/Woodside Amerada Hess and Repsol.'


Additional Information on the Isarene Permit Blocks 228 and 229A:

Area: 10,871 sq kms

Discoveries Six gas wells: HTT 1, INE 1, INW 1, GTT 1, TMZ 1, NCL 1

Seismic: 8,974 km 2 D (500 of new data ongoing)

Location: Illizi Basin

Access: Less than 100 kms from Tin Fouye Tabencourt
oil and gas field with gas and oil transportation
infrastucture

Reservoir targets: Cambro/Ordovician and Devonian

Discovered reserves: Gas 380 billion cubic feet, Oil 28 million barrels

Resource potential: Gas 4 trillion cubic feet, Oil 400 million barrels

Target depth: 2,300 metres



Additional Information on Algeria and Sonatrach:



Algeria produces 1.2m barrels of oil per day.

Algeria has a production capacity of 2.9 tcf of gas a year.

Algeria is the second largest producer of Liquefied Natural Gas
(LNG) in the world (18% of global production).

Algeria supplies 25% of EU imports of natural gas.

There are pipelines to Europe through Spain and Italy with more planned.

Sonatrach is the 13th largest oil and gas company in the World.

Sonatrach is the largest oil and gas company in Africa.

Sonatrach is the third largest exporter of natural gas in the world







Petroceltic International plc Tel: +353 1 662 7993
Brian Cusack, Chairman Tel: +353 87 257 5476

brian.cusack@petroceltic.ie
John Craven, Managing Director Tel: +353 86 386 2076

john.craven@petroceltic.ie
www.petroceltic.comBinns & Co PR Ltd Tel : +44 (0) 20 7786 9600
Ben Knowles ben.knowles@binnspr.co.uk
Simpson PR
Ronnie Simpson Tel: +353 1 260 5300
Davy
John Frain Tel: +353 1 679 63 63



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






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2004 MoneyAM

RNS at 7am confirms PCI awarded the isarene permit(blocks 228/229a)
in Algeria with great potential.

Morning all,

Cracking start to the day! That's a major coup for PCI getting that licence!

"Information provided by Sonatrach (the Algerian State Oil Company) states that
there are existing discovered reserves of 380 billion cubic feet (bcf) of gas
with possible resources in excess of 4 trillion cubic feet of gas (tcf) and of
more than 400 million barrels of oil in the Isarene permit."

So add that to the potential 400mbl they hope to find in Tunisia already and that adds up to a lot of oil!

Also like this part:

"Brian Cusack, Chairman, commented 'This successful tender represents a major
milestone for the Company. It is a major achievement to be invited to
participate in the bid round and more pleasing to be successful at the first
attempt. It reflects the growing reputation of the Company in the Mediterranean
area. I believe that the hydrocarbon resources in the Isarene Permit area will
increase the value of the Company and its portfolio and also present significant
upside potential. It furthers the Company's strategy to acquire acreage with
substantial upside in the short term at not great cost. The Company is
considering an aggressive drilling strategy in 2005 to prove up the potential of
the area."

Here's to a great day and times ahead!

Morning! Time to take profits?

Wouldn't have thought so Grevis. Oil prices still rising, showing no signs of slowing down, Yukos and Russia having a bit of trouble to say the least and PCI seem to be on the right track! I'm not for selling!

why would you sell a share that is going up?

Tempting!

Nothing wrong with taking a profit. But depends what level of profit you're happy with and what you feel the future holds.

Just found this on the Telegraph:

"Bid rumours were rife for oil and gas explorer Petroceltic. It jumped 2 to a 12-month high of 16.5p as volumes reached 12m shares."

I would assume this means the Algeria bid and not an actual bid for the company?

So it means that they have been awarded for definate the permit or they have to keep on bidding. Soz im not that conversant with this

Xmortal: From the RNS:

Petroceltic International Plc is pleased to announce that it has been awarded
the Isarene Permit (blocks 228 & 229 A) in the 5th Algerian International
Licensing Round which closed yesterday.

Reading that, to me it reads that they have been awarded the permit for that area. Should there be a 6th round, then I think PCI would be able to bid for other areas as well.

HOT STUFF!!!

WE LOOKING 20P MARK TODAY

Just found on Business World :

Petroceltic wins Algerian gas licence
Thursday, July 29 09:05:51

(BizWorld)

Petroceltic has been awarded major gas blocks in the fifth Algerian international licensing round.

The company has been awarded the Isarene Permit (blocks 228 & 229 A) which covers more than 10,000 sq kms.
"Six wells already drilled in the blocks have flowed gas of up to 25 m cubic feet a day," the company said, adding that other wells drilled in the northern permit area have had oil indications.


Information provided by Sonatrach, the Algerian state oil company, states that there are existing discovered reserves of 380 bn cubic feet (bcf) of gas with possible resources in excess of 4 trillion cubic feet of gas (tcf) and of more than 400 m barrels of oil in the Isarene permit, it added.

"The company is considering an aggressive drilling strategy in 2005 to prove up the potential of the area," said chairman Brian Cusack.

The company said it believes that shallow drilling depths and the nearness of the location to an operating major gas infrastructure means the resources can be proved up and commercialised quickly and at a relatively low cost.

The Isarene permit will be operated through a production sharing contract with Petroceltic and Sonatrach as 75 pc/25 pc partners, respectively.

IT SHOULD GO TO 20P AT LIST TODAY,TOMOROW WILL BE VERY GOOD

I GOING TO TOP UP AGAIN,,MORE GOOD NEWS ON THE WAY GUYS,,

From RTE News:

Petroceltic wins major gas blocks in Algeria

July 29, 2004 12:53
AIM listed oil and gas exploration company Petroceltic International has been awarded the Isarene Permit (blocks 228 and 229A) in the fifth Algerian International Licensing Round, which closed yesterday.

The permit covers over 10,000 square kilometres in area and is located in the prolific Illizi Basin of southern Algeria. This basin contains giant producing oil and gas fields.

The Isarene permit will be operated through a production sharing contract with Petroceltic and Sonatrach, the Algerian state oil company, as 75-25% partners. The company has a commitment to drill one well, starting in September. It is also reviewing plans to drill a number of wells next year.


Sonatrach says there are existing discovered reserves of 380 billion cubic feet of gas with possible resources in excess of 4 trillion cubic feet of gas and of over 400 million barrels of oil in the Isarene permit.

The target reservoirs are at shallow drilling depths and the permit area is less than 100kms from established and operating major gas infrastructure. Petroceltic says it believes the resources can be commercialised quickly and at a relatively low cost.

Petroceltic's Chairman Brian Cusack says the winning of the permit reflects the growing reputation of the company in the Mediterranean area. He said the move furthers the company's strategy to acquire acreage with substantial upside in the short term at not great cost.

He added that Petroceltic is considering an aggressive drilling strategy in 2005 to prove up the potential of the area.

Got a mention in The Times today
under Talking points

Morning all. Someone has just dumped 2.5 million.

Morning all,

Thanks for that Patsym. Will look for it.