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

exciting does not preclude taking prudent profits ....... i have actually cashed in 1/3 of my holding and may sell a further 1/2 of the remainder ...... if i sell early, so what, but there is nothing as galling as seeing a fat profit turning into a fat loss

cynic: I cannot disagree with your strategy. We all have a different attitude to risk and it is sensible to lock in profits on the way. Trying to determine when to sell or buy is not always easy. There is definitely more mileage in this stock, but people will come to their own conclusions as to the right time to move in or out. When exploration gets underway, excitement tends to build in anticipation of results that are yet to come. Speculation on what these may be can cause wild movements in share prices and it is the nimble fingered who can come out on top. One could buy into so called blue chips but quite frankly many of those have lost people a fortune over recent times. Fortunately I went liquid as the banking crisis developed and was able to attack this recent stock market rally with all guns blazing. One could therefore argue that I can afford to take a gamble. However I only invest where I feel there is good upside potential. I like the new management of PCI and with a successful firm like Iberdrola backing them, it gives me confidence for a successful outcome to their forthcoming endeavours. However, people should not forget that exploration companies are not for widows and orphans or those with a nervous disposition.

i do not dispute the potential at all, but as an active trader, i am glad to be in the position of being able to bank some decent profits while still leaving myself an adequate stake and having the firepower and balance to my portfolio to be able to buy back in as and when the time seems right

Just so cynic. For those who are still inclined, I have revisited Davy's recent report which some may find of interest:

Petroceltic PCI LN
An in-form stock; impending multi-well programme to maintain momentum
Caren Crowley
+353 1 6148923
caren.crowley@davy.ie

Petroceltic has licences in Algeria, Italy and Tunisia. Our group valuation is quite
evenly spread across these assets, which form a well-balanced portfolio. Risk is
reduced by a healthy level of diversification and by the relative maturity of the
licences. Exploration activity on all assets is well-advanced.

Petroceltic's stock has more than doubled since the start of 2009, but there is still
170% upside to our group risk-weighted valuation of 24.2p per share. A multi-well
programme in Algeria will commence in mid-May.

This drilling campaign will continue to provide a catalyst for the stock. A successful Algerian campaign in-line with our prudent assumptions provides 37p (153%) upside to our group valuation.

Petroceltic has some $90m in cash, and a further $47.7m is expected to be injected
into the company in the coming months. This cash will unwind any remaining
financial risk in today's share price.

Petroceltic also has highly tradable equity in its Italian and Tunisian assets. Farm-out agreements on these licences should add value as the market will appreciate an improved chance of development success and more activity.

For further detail, see our research report issued May 11th.

sk,getting better by the day here.

Spud RNS likely early doors here!

Davy.

Petroceltic

PCI LN

Drilling campaign kicks off

Job Langbroek


Price 11p Target: 24.2p Issued: 11/05/09 Previous: 22.5p Issued: 30/06/08

--------------------------------------------------------------------------------

Petroceltic's drilling campaign in the Isarene permit in Algeria has commenced. The INE-2 well, in which Petroceltic has a 75% stake, started drilling on May 16th. The second well in the programme is expected to start in four to five weeks. No testing of this well will take place until the whole drilling programme is completed. This will be the case for each well, with testing taking place in a cost-effective batch process. First news from the testing programme is expected to be available in September.
The first well will be a relatively shallow target and kick starts what will be a very active period for one of the best-funded E&P stocks on the market. We see a risk-weighted valuation for the group of 24p per share with the current drilling campaign a major value catalyst for the stock.

Should be at TD on drill by now...

I seem to remember that they were not going to issue a RNS every time they reached certain stages. They were just going to report once the test results were available for a number of wells (possibly to ensure stability to the share price?)

AGM tomorrow an opportunity for an update for holders here.

have just topped up this morning at 10.5...... interestingly, IG have reached their internal limit

well timed trade too.

Talk of move to well 2 here!

http://www.lse.co.uk/ShareChat.asp?ShareTicker=PCI&share=petroceltic

Smoke is rising mi amigo!

Rising like a horny jack russell here. AGM should be interesting...

Think you need to get out more, hermana... lol

BL,when she hits the quid I will never be in!!

The following was posted yesterday and seems to have been responsible for the rise in PCI. Mulligan has been very accurate so far and many seem to trust his postings. If he is right and I have no reason to doubt it, then there could be an announcement at today's AGM.

2 Jun'09 - 14:26


Good news from Algeria. They have already finished drilling the first well and are moving on to start drilling the next one.

Looks like they have found substantial gas down there. Currently inserting a line down.

Congratulations to all holders.

Regards

Mulligan

We should get an AGM statement by the end of today. It will be interesting to see what it contains.