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

Thanks for that Rooandu. Some decent buying today and near the close yesterday.

Morning all. Nice to see these mentioned in the Daily Mail. However, would question the previous high.

PCI hit 18.5p on 29 July and 18p on 4 August. Now that we are close to drilling in Tunisia, the previous high should be tested once again. Good luck!

Date Open High Low Close Volume Adj. Close*
09-Aug-04 16.25 17.00 16.25 16.50 4,824,610 16.50
06-Aug-04 17.00 17.00 16.00 16.42 5,295,500 16.42
05-Aug-04 17.50 17.50 17.00 17.00 1,555,050 17.00
04-Aug-04 17.25 18.00 17.25 18.00 4,132,370 18.00
03-Aug-04 17.00 17.25 17.00 17.50 2,928,540 17.50
02-Aug-04 17.25 17.25 17.00 17.12 4,648,650 17.12
30-Jul-04 17.00 17.25 16.75 17.00 7,062,560 17.00
29-Jul-04 18.50 18.50 17.00 17.25 14,316,400 17.25
28-Jul-04 14.50 16.50 14.50 16.75 12,026,600 16.75
27-Jul-04 15.00 15.50 14.50 14.34 6,454,450 14.34
26-Jul-04 14.25 15.00 13.75 14.75 6,253,280 14.75

gav.......does look pretty positive.....and sure we will maintain momentum north prior to pre-drilling rns........(albeit a few ups, downs and levelling offs along the way!!

Grevis, thanks for posting that. Will be interesting to see if we can pass the 18p mark in the run up to the drilling. If they release an RNS stating drilling has started then I think we will. Interesting times ahead!

Roo, a few days of good buying and hopefully continue today. Exciting times for all us PCI holders. Wonder if the traders will pile in or are in now? If they are, then would think they will be out before drilling results announced. As you say, up's down's and levelling off, but still upward trend.

gav......I feel this is going to beat the 18p mark easily before drilling commences.....as for getting out before drilling results were known.....who would pull out of a race when you know you had a fantatsic chance of winning!!.......I guess the majority will stay put......my gut gestimate is still mid 20's prior to actual drilling later this month(that's taking in to account rns', other acqusition news (if any)etc........).......

This particular trader is already in (again). ;-))

Big Al!!

How nice to see you on the bb.

I hope you had a good week, told you I fixed the weather.

Now all I need to do is fix the share price.

I am in too and up on the deal.

:-)

Good morning all, look forward to PCI making some headway this week.

Pinched this off advfn site, hope LBO does'nt mind (it all helps the good cause!!!):

The Sunday Independant in Ireland

Thumbs up for Petroceltic's Algerian well
PETROCELTIC is probably the best pure exploration company that Ireland has given the world. Its share price has more than quadrupled since the start of the year. But rumour now has it that Davy's Job Langbroek is currently working on a research note examining the potential of the company's recent permit award in Algeria.

Petroceltic's Algerian permit contains possible reserves of more than four trillion cubic feet of gas and of more than 400m barrels of oil. Located less than 100km from a major operating gas infrastructure, these reserves could be commercialised at a relatively low cost.

The other companies which were successful in tendering for the permits in Algeria recently were all majors, such as Statoil and Repsol.

Job's new note is likely to point out the potential for more than 100 per cent further upside for the Petroceltic share price from its current 16p level.

It is looking better and better. I have not been this excited since I got married 25 years ago.

same here!...........but I'm telling you, the divorce papers are at the ready!!!!(only joking!!)

Morning all! Nice to see MM and B buys this morning.

good morning grevis, looks promising......

Morning rooandu: From Irish broker Dolmen's daily note:

Todays Recommendations
Petroceltic (16p) Algerian upside Stuart Draper
Results preview : With Petroceltic due to report results for the
6 months ended 30/06/04 within the next 10 days, some attention
is soon likely to turn to the recent Isarene Permit
award in Algeria, the announcement of which has to date had
very little effect on the share price, even though it will have
major implications for the companys future direction.
Algerian upside : The Isarene Permit covers over 10,000 square
kms in the prolific Illizi Basin of southern Algeria. It contains
existing reserves of 380 bn cubic feet of gas, as well as possible
reserves of more than 4 trillion cubic feet of gas and of
more than 400m barrels of oil. Being less than 100 kilometres
from a major operating gas infrastructure, will also enable
these reserves to be commercialised at a relatively low cost.
Upcoming drilling : At the end of this month, Petroceltic will
also announce the start of drilling at its Sidi Toui 3 Well in
southern Tunisia. This 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.
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.
Healthy scepticism : Following disappointing drilling results
from both Ramco Energy and Providence within the last 12
months, there is now a healthy scepticism towards the sector
from investors. This should help ensure that future drilling
success is even better rewarded by the stock market than
would have been the case without these failures. 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.
Sector outperformer : While any potential risk adjusted valuation
for Petroceltic is still very subjective, its 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.78m, we would continue to rate Petroceltic as a sector outperformer.
Petroceltics share price has risen by 240% since
our BUY note of 23/01/04 : Speculative BUY.

Good to find PCI's share price holding steady at this level. Also encouraging to see some chunky buys coming through, in particular 400,000 which appeared around 2.30 this afternoon.

Afternoon all,

Thanks for posting that Dolmen's note Grevis. Noticed a 600k delayed trade after the close, looks like a rollover to me. Also liked the 400k buy. :-) Looking forward to tomorrow!

what impact has a roll over in the price?? do they count perhaps on a later date? Please informe me. Thanks

Morning all.

Xmortal: would have thought it was already in the price, but when they close the position then I think it would affect the price. Anyone any other thoughts?

Morning all. Still holding steady. Bid was lifted to 16p earlier. Spread is very narrow. Barclays are quoting 16.03p to 16.10p. When these finally break out, the upward movement could be quite rapid.

http://moneyam.uk-wire.com/cgi-bin/articles/200409081235177405C.html

Well spotted Big Al. The RNS is as follows:

Petroceltic International PLC
08 September 2004

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

Petroceltic Extends Licensing Option


8 September, 2004

The Board of Petroceltic announces that it has decided to extend and take a 38%
interest in Celtic Sea Licensing Option 03 / 4 with the Island Expro Group
pursuant to an agreement originally entered into in October 2003. Licensing
Option 03 / 4 covers three part blocks adjacent to the Kinsale Head Gas Field
offshore Ireland and contains a prospect named 'Old Head of Kinsale' which has
similar geological characteristics.

The consideration for the 38% interest in the Licensing Option is the allotment
of 1,607,717 shares in Petroceltic to the Island Expro Group. The extension and
Petroceltic's participation is subject to ministerial approval and the shares
allotted to the Island Expro Group can not be traded until such approval has
been confirmed.

Application has been made to the London Stock Exchange for 1,607,717 New
Ordinary Shares of nominal value 0.0125 each in the capital of the Company to
be admitted to trading on the Alternative Investment Market of the London Stock
Exchange. Dealing is expected to commence in these shares on 13 September, 2004.
These shares rank pari passu in all respects with the existing Ordinary Shares
of the Company.



For further information contact:

Con Casey (Director, Petroceltic) +353 1 661 1245

Stephen Barry (Davy Corporate Finance) +353 1 679 6363



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