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

chinapete
I could have sold at 18p - so regret that - but thought they would go higher given the current oil scenario - surprised they are not around 20p
the algerian project has (allegedly) 30% strike rate - so they seem to be in the right area - well - drill enough holes and you are bound to hit something!
might as well hold on for a while

m100

Have I missed something....PCI are no puff in the wind.

I took the plunge with PCI Nov last year and have been watching them very carefully, ups and downs and all......it did take a knocking earlier today but be assured it's an excellent bet....... PCI will be heading for new highs soon, when is the question, patience is the game.......but expect the unexpected......as it will happen..... I suggest you hold, you will be rewarded......For PRE, are they worth a punt?? I need convincing... eg, @ 31/5/04 - PRE 14.5p, PCI 7.5p!!!! no way does PRE match the huge rewards and potential that awaits PCI around the corner......PCI will be BIG and is a classic success story waiting to unfold!!

interesting reading that oil barrel piece on pci , i am presentlu not holding any shares in this company but i will very soon as the algerian licence alone looks ominous. Apart from hnr (hardman resources) this company is the best oil stock in the sector for growth potential .

regards bowman

Good to see the bounce back from the fall early today and the large trades near the close. Hopefully will set things up nicely for tomorrow.

rooandu
it was chinapete who referred to wind, pre etc, my comment was that PCI should be higher given the market, just want to make a modest small profit, wish I had bought at 7.5p!

m100

no probs.......we are all waaiting to hear of the Tunisian status.... drilling schedule etc....it's all about patience...... but they will be moving north soon" I could of bailed out months ago on PCI's impressive performance but I did'nt on the basis that they have fantastic potential.......I am holding tight!!! and no way will sell at this stage. A great buying opp was yesterday when they slid back to c.15p with excellent short term returns in the offering, how short, well, that's the question, only time will tell!! expect the unexpected...

Rooandu - agree with what you said. I'm not interested in selling at 18p, holding out for a much better price hopefully. Could have sold at 18 and bought back yesterday and increased the amount of shares I have. But im not a trader, would rather hold than trade. Lots of potential here re Tunisia and Algeria. The problem with trading a share like this is what happens if you are on the sidelines waiting to buy in and news is released, sp will be moved up very quickly if news is good and you end up paying more to get back in.

"The problem with trading a share like this is what happens if you are on the sidelines waiting to buy in and news is released, sp will be moved up very quickly if news is good and you end up paying more to get back in."

A very good point. I am holding a core block of x shares and trading up to an additional 2x.

If they start to rise the whole 2x goes in and 1.5x is sold if they make a decent (20+) price, cutting the potential reward if they soar, but also cutting the risk of major losses on a very chancy share. If they hit 15p, and they're heading that way, I am going in with the 2x because I don't see them getting much cheaper.

That's my theory, for what it's worth.

Chinapete - thats a good strategy. You probably hold a lot more shares than I do so what you're saying makes a lot of sense re risk/reward. I got in at 7ish and more at 11ish so am happy holding right now. Right now, Im happy with my level of risk/reward in this share. Should that change, I would probably sell some but keep some as well.

Ther seems to be support at the 15+ level today. Anyone got an opinion on when we might get some drilling news?

Chinapete - I emailed the company this morning asking if drilling had started or if not, could they give me a date when they would be starting. Not had a reply yet. When I get one I will post here with any details. As far as I know, drilling was meant to start in Aug, but read in a few places that it might be in Sept.

This is part of an article dated 30/6/04 from Oil Barrel.com:
"The new acreage fits well with the companys existing properties offshore Ireland and onshore Tunisia. These are exiting times for the company, said Cusack, with drilling expected to get underway on two structures in the 7,000 sq km Ksar Hadada exploration concession in southern Tunisia within the next six to eight weeks. The drilling campaign in Tunisia has the potential to transform Petroceltic: the Sidi Toui structure alone could hold up to 400 million barrels of recoverable light crude."

So perhaps drilling will start end Aug start Sept at the latest.

Cheers

Gav

much obliged

cp

lots of sells this morning and a staedy decline over the past few days. wilkl we ever get to 25p?

well, looks like some are getting out - taking profits? but half as much again are buying back in - is it MM driving price down awaiting drilling news later?
wish I had some spare cash to buy at the lower value - surely if pci hit oil, whatever the barrel price at the time its worth a lot of beans given the current climate?

few oil explores starting their drillings in August are down, notably HNR, PMO, SEY and wpl.ax. these are just MM tactics. Hold on or if poss add more to your portfolio. Even DES is trailing down on 3D seismeic results.

i am very new to this and am getting into investing into these energy stocks as they are pretty exciting.
i am just concerened that on these boards there seems an absolute confidence that drilling results will be positive and all the people selling before these results are somehow mislead.
do these companies ever produce negative results? i am sure it happens all the time.
i am holding on for the results in a few of these companies PET, PCI, PRE but there doesn't seem much confidence at the moment as they are all falling.
i am not sure exactly how mm's earn their corn but they can't be blamed for everything surely. they have to get it right some of the time

agree with xmortal....hold on there.....your patience will be rewarded.....predrilling/drilling news can't be too far around the corner. PCI may drop and may fall even further....but watch the bounce as it will come.....and all this will be history...

oh i am holding as i am the eternal optimist also. you guys seem to really know what you are on about so that gives me some hope. whether this will make me any money, we will wait and see

PCI has been flavour of the past couple of months so expect volatility.

Personally, went long earlier and would likely add down to 13p. Any less and I'll stop out.

I don't add, top up, etc. If it's going down, I'm gone.

Just topped up again. Hang in there Mates, the darkest hour is just before the dawn! When the hell are they going to start drilling?