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

Nice write up swj .

red = 50 dma
gree = 200 dma


Hmm!

Please clarify "Hmm!"

insofar as charts have any meaning or influence, 50 dma could represent a resistance of unknown strength ...... be aware that prices will often tease above (below on a support) but fail to hold ...... Also note that 50 dma is still falling and the more potent 200 dma is only a little higher at +/-16.60 and flat

Thanks. Current sp is also influenced by prospect of imminent news, possibly, so a number of factors to consider.

hence "Hmm!" ..... lol!!

Petroceltic International PLC
07 November 2006



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

Holding in Company


The Company received a notification on 6th November 2006 from Cantor Fitzgerald
Europe ('Cantor') stating that Cantor has an interest in and is the registered
holder of 67,969,919 ordinary shares which represents 9.21 per cent* of the
Company's issued ordinary share capital.


* This percentage shareholding is based on a shares in issue figure of
737,327,818 ordinary shares.


Dublin: 7th November 2006




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

Davy Research today
Starting Points 10 November 2006

Price 15p Target: 26.0p Issued: 13/10/06 Previous: 27.0p Issued: 31/08/06
On November 9 th , Petrofac announced that it had acquired a 45% share in a 50
BCF gas field offshore Tunisia. This transaction values developed North African gas
at $2.20 per mcf. Plugging this value into our model for Petroceltic returns a risk-weighted
value of 42p per share for the company's entire portfolio. This implies
upside of a whopping 185% on todays share price. Petroceltics North African gas
assets are dominated by its interest in the Isarene licence in Algeria.
The value in the Petrofac deal in part relates to the price at which gas will be sold.
The transaction allows for gas to be sold at a price linked to FOB Med fuel oil
prices which, according to our analysis, averaged $37 per barrel or $6.2 per mcf
in the past 12 months. This is comparable to international gas prices.
If Petroceltic is able to market its share of Algerian gas along similar lines, this
should be more accurately reflected in its valuation and the stock should be re-rated.
It is interesting to note that this week First Calgary agreed with Sonatrach,
the Algerian state oil company, that it would market gas from its Algerian licence
at prices linked to European fuel prices.
Petroceltic is currently drilling its second well on the Isarene licence in Algeria.
Drilling operations are expected to be completed in November.

A new member of staff , news on drill cannot be far away .

Nice sea of blue , tick up soon ?

What is to be made of the last rns ?

GOOD RNS , should push up the sp now.

no market reaction so far, but as the chart below shows, 25 dma just about broken with notional support from 50 dma not far below ..... personally, have no apetite for more oilies of rather questionable quality

Good update this morning but no reaction from the market-surprising! Check out the website-they now show a massive gas flame which some think is a strong hint-very much hope so !!

very busy on the other side! lots of excitement and heavy buying---good news imminent they think.

moneyplus, are you a medium?

Yep, not long now to wait. Might even clear 17p by the bell.
Holding here for min. 24p
imo--

We may have to wait a few months to see a new high , but i believe the sp could hit 30p next year .

first hurdle is likley to be to clear 200 dma just below 17, though i accept that charts for these tiddlers have (even) less value than for companies of real substance

Moving in the right direction , can only get better .