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

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?

Bit suprised to see Al in here......and ramping :-)(ever so slightly) Not a Bot is it?? I thought to enter at 14.75p or under. Now I will wait for the bottom. Could go lower.....don't know why, 'cause It's coming back up for sure. (sic) dyor.
regards

patience all..............anticipate info within next 2 weeks but could be beginning of Sept, no one really knows.........but be assured, it will come and when it does, brace yourself cause PCI ARE GOING TO FLY!!!!!!!!!!!

Reading rooando, I noticed my previous post. "Could go lower than the bottom"? Now that's fecking low. Anyone picking these shares up with a minus in front of them......good luck. Charge them to your overdraft account....."a bank with it's head up it's arse"??....the ABBEY right????.....Is that lible?...only if your a liar.....is this.........Bail out now baby, whilst your in front......"I am?"...can I buy more??....gawd.............................
regards

teletigger

I turn up all over the place! ;-))

Took a wee long early today at 14p on the basis it is currently oversold in an uptrend. May be premature so am prepared to add down to about 13p mid. Any lower and it's a short for a further 2p drop with the potential of 8-9p if it really drops off a cliff and the sector tutns.

As you know, I don't really care about what the fundie prospects are. I've long bought and sold stocks in this sector, having worked in the oil business for 23 years, and it comes and goes in and out of fashion at the drop of a hat - not a sector to buy and hold IMO after the run it's had. You can get burned big time and wait years for a return to fashion. In actual fact, I'm becoming more bearish on the small cap oils in general. They've had a fantastic run, but most are definitely running out of steam. How many have dropped back or treaded water in the past 4-6 weeks despite oil's onward march?

Makes you think.

Have fun!

Al
;-)

this is not PCI.............prove me wrong..........but it will fly............
soon.......hold out there.

good morning all

Petroceltic signs drilling contract for Tunisian well
AFX


LONDON (AFX) - Petroceltic International PLC said it has signed a contract with Great Wall Drilling Co (Tunisia) for the GW 92 land drilling rig for its Sidi Toui 3 Well in the Ksar Hadada Permit Area in southern Tunisia.

In a statement, the company said the contract is for one well with a second well option which can be exercised during the drilling of the first well.

The Great Wall rig GW 92 is currently working in Tunisia for the Austrian oil and gas company OMV. This work is expected to finish over the next few weeks after which the rig will mobilise to the Sidi Toui 3 location to commence drilling for Petroceltic.

Petroceltic has a 100 pct working, or a 95 pct net interest in the 7,500 square kilometres Ksar Hadada Contract Area through a

Production Sharing Agreement with ETAP the Tunisian state oil company.

newsdesk@afxnews.com

ra

so this is bouncing more than jordan, however the trend is back up - 20p by early September?

patience and a lot of praying..............and it sure will!!!!

Took the cash at +1.5. Nice 2 day trade. ;-))

Right thing to do in my opinion if you day trade Big Al.

Sure to drop back a little after the news has sunk in!

sw - hope so! ;-) 11% in 2 days is a good trade.

Just read throught his one.

That was good comment earlier about what you do Big Al.

I have done the same with PRE and made a bit here and there, the other thing I do is play the ex div day game. Buy in a few days before sell last knockings pre ex div if the profit goes above what I would have got if I stayed in. That works too sometimes.

Saves being caught short for the best part of a year.

sw

Used to do the xd's a lot, but not very much nowadays. Found the started to be a bit hit or miss for me. Maggot, in the Traders' Room, is the current big divi player and starts looking 2-3 weeks ahead.

Thanks for that.

A snippet from Davy's daily note;

Petroceltic (PCI LN)
Previous close: 15.5p
Tunisia drilling contract signed
job.langbroek@davy.ie
Petroceltic has signed a contract to drill the Sidi Toui well in southern Tunisia. The rig is currently operating for OMV and is
expected to move to Petroceltic in the coming weeks. A September start to the well is expected. The well will be relatively
shallow, at around 3,000 ft., and should be finished by the end of October.
Petroceltic has a net 95% share of the licence in which the Sidi Toui well is located. The target has already been drilled and
encountered oil in a fractured Ordovician quartzite. The target could contain up to 400m barrels of oil.
We believe that there is a good chance that Petroceltic's well will encounter oil. The unknown factor at this stage is the
extent to which the fractured reservoir will deliver the oil to surface.
The key issue remains oil. Every 1% point change in the oil price effects EPS by 0.8c.

Also from Dolmen brokers daily note - mostly a rehash;

Todays Recommendations
Petroceltic (15.5p) Drilling rig contract Stuart Draper
Drilling contract : Petroceltic has announced a drilling contract
with the Great Wall Drilling Co., to provide the rig for
next months drilling of the Sidi Toui 3 Well in southern Tunisia.
The Great Wall Drilling Co. is an affiliate of the Chinese
National Petroleum Company, and provides land-drilling services
to multinational oil companies in over 16 countries.
Second rig : The contract is for one well with a second well
option which can be exercised during the drilling of the first
well. The first rig, GW 92, is expected to mobilise to the Sidi
Toui 3 location over the next few weeks, once it has finished
its current drilling for the Austrian oil and gas company, OMV.
Preparation commenced : Drilling operations and site preparation
have already commenced at Sidi Toui under the supervision
of Norwell Ltd., a major Aberdeen based drilling project
management and well control company.
Massive prospect : The Sidi Toui prospect has the potential to
contain over 400m barrels of recoverable light crude oil within
a large fault block structure. Petroceltic has also identified a
second major prospect close to Sidi Toui, called Oryx, which
may be drilled by the end of this year.
Further upside : Petroceltic was recently awarded the Isarene
Permit, covering over 10,000 square kms in the prolific Illizi
Basin of southern Algeria. The permit contains existing reserves
of 380 billion cubic feet of gas, as well as possible reserves
of more than 4 trillion cubic feet of gas and of more
than 400 million barrels of oil. Being less than 100 kilometres
from a major operating gas infrastructure will enable these
reserves to be commercialised at a relatively low cost.
Cash position : Crucially for equity investors, Petroceltic has
no near term funding risk and has cash reserves of c.$15m. In
addition, the company has a small royalty interest in the
Celtic Sea which generates net cashflow of 0.25m per annum.
Sector outperformer : While any potential risk adjusted valuation
for Petroceltic is still very subjective, the projects are
lower risk than many oil and gas exploration projects. Given
the current buoyancy of peer valuations in the sector and the
companys strong cash position, with a current market cap of
c.$35m, we would continue to rate Petroceltic as a sector outperformer.
Petroceltics share price has now risen by 229%
since our BUY note of 23/01/04 : Speculative BUY.

Some recent news articles this week, Ireland On Line:

Petroceltic signs drilling contract for Tunisian well
19/08/2004 - 11:02:22

Petroceltic has signed a contract with Great Wall Drilling Company (Tunisia) to provide the GW 92 land drilling rig for Petroceltic's forthcoming Sidi Toui 3 Well in the Ksar Hadada Permit Area in southern Tunisia.

The contract is for one well with a second well option which can be exercised during the drilling of the first well.

The Great Wall rig G W 92 is working in Tunisia for the Austrian oil and gas company OMV. This work is expected to finish over the next few weeks after which the rig will mobilise to the Sidi Toui 3 location to commence drilling for Petroceltic.

Brian Cusack. Chairman of Petroceltic commented: "I am delighted that Petroceltic has secured the services of Great Wall and Norwell for our Sidi Toui 3 well. They have both earned an excellent reputation internationally for the provision of drilling services and we are all eagerly looking forward to this next phase of the company's development."

Petroceltic has a 100% working (95% net) interest in the 7,500 square kilometres Ksar Hadada Contract Area in Southern Tunisia through a Production Sharing Agreement with ETAP the Tunisian state oil company.

RTE Business:

Petroceltic in deal with Great Wall Drilling

August 19, 2004 11:16
Petroceltic has signed a contract with the Great Wall Drilling Company to provide the land drilling rig for the company's Sidi Toui 3 Well in the Ksar Hadada permit area in southern Tunisia. The contract is for one well with a second well option.

Drilling operations and site preparation have started for Sidi Toui under the supervision of Norwell, a major Scottish based drilling project management and well control company.

The Great Wall Rig is currently working in Tunisia for the Austrian oil and gas company OMV. This work is expected to finish over the next few weeks.


Petroceltic has a 100% working interest in the Ksar Hadada area in a deal with Tunisian state oil company, ETAP. One of the site's prospects, Sidi Toui, has the potential to host over 400 million barrels of recoverable oil. Another similar prospect, Oryx, has also been identified in the southern part of the site.

Great Wall Drilling Company, an affiliate of the Chinese National Petroleum Company, owns over 100 rigs and provides land drilling services in over 16 countries worldwide.

Business World:

Petroceltic wins Tunisian drill contract
Thursday, August 19 10:44:28

(BizWorld)

Petroceltic International today said it has signed a contract to drill for oil and gas in Tunisia.

The Irish registered exploration firm said it had signed a contract with Great Wall Drilling Co (Tunisia) for the GW 92 land drilling rig for its Sidi Toui 3 Well in the Ksar Hadada Permit Area in southern Tunisia.
In a statement, the company said the contract is for one well with a second well option, which can be exercised during the drilling of the first well. The Great Wall rig GW 92 is currently working in Tunisia for the Austrian oil and gas company OMV.


This work is expected to finish over the next few weeks after which the rig will relocate to the Sidi Toui 3 location to commence drilling for Petroceltic.

Petroceltic has a 100pc working, or a 95pc net interest in the 7,500 square kilometres Ksar Hadada Contract Area through a production sharing agreement with ETAP, the Tunisian state oil company.

Shares in Petroceltic gained 0.25p on the London exchange this morning to 14.75.

The Guardian:

Irish oil exploration group Petroceltic International gushed 1p to 15.5p as it announced plans to drill in Luke Skywalker's back garden. Petroceltic, which also has prospects offshore Ireland and Italy, has signed up Great Wall Drilling Co to drill on its land in Tunisia at a cost believed to be under $3m.

The site is close to the location used in the Star Wars films as the young jedi's home planet.

Traders believe that the drilling programme - which is for one well with the option of a second - could take just a matter of weeks and the potential represented by the site in southern Tunisia is very significant.