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

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!

Sorry Harrycat, did not make myself clear enough...

the situation will be more in next 3 weeks...

don't disagree though thought update was scheduled to be sooner

Early September it seems...

Just to clarify the testing details as per the pdf doc on PCI website:
"The Company plans to test and where necessary fracture the objective reservoir sections of the wells drilled without using the drilling rig (rigless testing). The rigless testing approach has many operational benefits, and reduces cost and programme length overall. The first two wells in the programme will be drilled and suspended ready for testing before the test crew is mobilised to the block.
The optimimised operations plan requires the wells to be tested once the rig has completed drilling and completion operations and has departed from each well site. The testing will then be carried our as a continuous batch process independent of rig operations.
The Company does not intend to announce the commencement of each well in the campaign. Well test results will be announced when individual well tests have been completed, and when the co‐venturers have agreed the announcement in accordance with the public announcement provisions of the Isarene Production Sharing Contract. On current planning, the first testing results are expected to be announced in September 2009."

Nice rise in a dull market today.

..and on an altogether dull day. Thanks guys for drawing my attention to what's going on at PCI

Picked up 40k more yesterday so glad to see strength today.

Looking good now.. now a double bagger from me .. wish I'd bought more etc., etc., etc., still, can't complain !...onwards and upwards !

my original outlay was about 75% of norm which i felt was more than sufficient for such a diddly company .... if it all comes up rumps then great, but to be greedy with the unknown from the outset would have been lunacy

cynic,it did look too tempting at 2.2p in February though.

bought this crap about 5 years ago......another 2p and i'll be breaking even.

not sure i'll be investing in diddly silly irish companies in future