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

http://www.moneyam.com/InvestorsRoom/posts.php?tid=14307&from=1&to=500

Ian ..... is there any way you can stop this geezer Tescomana from posting spam all over the place?

If he was a horse hed be shot!!!

"Petroceltic International plc is pleased to announce that well AT-1, the second operated well in the current drilling campaign on the Isarene Block in the Illizi basin of Algeria, has been successfully drilled to its target depth of 2118 meters.

The well was targeting the Ordovician sands in the Ain Tsila Ridge structure and was completed on prognosis and on budget. Wireline log information and drilling data have confirmed gas bearing intervals in the objective Ordovician sands, which are in line with expectations.

The well is currently being suspended for testing. The rig is expected to leave the location shortly, to mobilize to the AT-2 location, to continue to appraise the Ain Tsila Ridge structure, as part of the 5 to 7 well programme initiated in May this year. AT-2 is currently expected to commence drilling on location around 10th August 2009. Well testing operations are expected to start at well AT-1 around the middle of August 2009 and are expected to take approximately three weeks. It is intended that the INE-2 well, the first well drilled in this multi-well programme, will be tested after the AT-1 well.

The well was drilled by Petroceltic (75% interest, Operator) in association with the Algerian Oil & Gas Company Sonatrach (25% Interest).

Brian O'Cathain, Chief Executive of Petroceltic, commented:
'We are pleased that our Isarene drilling operations are on time and on budget. The AT-1 logs look encouraging and we look forward to well test results in the near future'. "

it was an ok rns, but not frightfully exciting.
nevertheless, sp has not been adversely affected

cynic.smell the gas. Full steam ahead now...

and i thought it was me or the cows!

Not refering to kate by any chance..........

see e-mail i sent you!

read and understood, lol... will watch with interest.

BOC is encouraged thus far...

moving up presumably in anticipation of some good drilling results.

i noticed that late(?) move too, but the prob is that almost anything with a pulse started doing the tango today, and i fear a heavy reaction is imminent ..... that said, there will always be exceptions, and PCI could be one of those if they come up with decent drilling result or similar

Iberdrola has an option to increase its shareholding if the forthcoming drilling news is good then they may go the whole hog.

oink, oink!

She's cooking now...

This is another good one...loads of drilling to follow the testing.

Surely the other way round??? Testing follows all the drilling.

Harry,they are using a separate rig for testing. They are testing first 2 drills now while the other rig is being used for drilling well no.3.

Ah, cheers h. I know I read that they wouldn't issue RNS every time they drilled, only when a series of testing had been completed. All is now clear!