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

perhaps no news is good news

Frightening isn't it.

What bad news could there be? If it's being manipulated - which is quite a likely explanation - whoever is doing it can't keep it up forever. They must be doing it in order to buy cheaply on the expectation of a rise, which is when we benefit. Are the string of 250,000 sells an attempt to panic the small investor and drive the price down in order to buy back lower down to benefit from the drilling RNS expected this week?

I'm holding. It's only money - not something important like people or your health.

Seems to have stabilized at 13.59 sell and 14.14 buy with my broker.

Just a thought. I am hoping to sell about 75% of my holding on a rise from 15.3 in order to cut the risk of a dry well. If one or more of the big players feels over exposed and has bought at a much lower price they could be doing the same thing right now.

It's the reason why I'm not expecting the pre-results price to go over 18p.

Bad news???........they haven't even started drilling yet!!!!

advfn PCI BB has some sound explanations for the fall.........makes a lot of sense esp traidemark 9255, rafboy 9256, derek 9262.

Morning all. Still no news on the oil rig I see. Have had a look at the Austrian's website (OMV.com) but there is no news on there. Would suggest that OMV has yet to release the rig to PCI. That's the trouble with sharing rigs; just have to wait until the other fella has finished. As to PCI's share price, you only have to look at the graph for mid August to see we have been here before and the sharp upward movement afterwards. Enjoy the ride!

This is the latest news from Tunisia.

PA Resources Report Successful Testing in Tunisia
21 September 2004


--------------------------------------------------------------------------------
Latest Oilvoice Headlines


PA Resources AB (PAR) who hold a 13.5% participation interest in the Ezzaouia field, Tunisia has announced that the Ezzaouia 15 well has successfully been with a combined flow rate of 1,520 bpd of oil with no water from two separate zones totalling 21 meters of net pay.

Ezzaouia field
The Ezzaouia-15 development well in Tunisia have now been tested with a combined flow rate of 1,520 bpd of oil with no water from two separate zones totalling 21 meters of net pay. The majority of the tie-in operations have already been completed and production from Ezzaouia-15 is expected before month end.
The rig used to drill Ezzaouia-15 is being mobilized to the Ezzaouia-16 location. This exploratory well will test a new pool on the South West flank of the main Ezzaouia field. Drilling is expected to commence in early October.
Operator in the concession is MARETAP. The other licence holders are ETAP, the Tunisian State Oil Company (55%) and Centurion Energy (31,5%).

thanks fo the info grevis.

rooandu: Your welcome. Bit frustrating waiting for news, but it will come and then the fun will begin.

The current price is now very attractive and I would expect a bounce from here either later today or tomorrow.

grevis, a touch frustrated.........but confident and very patient......I look forward to the fun when it begins!! :-)

a million sells went through before 10am......final washout?? as you say, price now looking attractive.......so would expect some good buying activity too, pretty soon.

PCI must be getting a bit frustrated waiting for the Austrian's to finish with that rig. I expect their chaps are down on the beach getting a nice suntan whilst they are waiting.

Petroceltic International PLC
19 August 2004


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

Petroceltic Signs Drilling Contract for Tunisian Well

Dublin and London, Thursday, 19th August, 2004: Petroceltic is pleased to
announce that it 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 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.

Drilling Operations and site preparation have commenced for Sidi Toui under the
supervision of Norwell Ltd. a major Aberdeen based drilling Project Management
and Well Control company with ISO 9000 certification. All necessary
subcontractor and consultancy services have been or are in the process of being
finalised.

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.'

well...I suppose at their own time.......are we sure Great Wall of China is not an international takeaway joint.....are we talking about wells or meals here?
:-)

Seriously, I think it can't be long before the rig is on the move (if it's not already!!!!)

have rig will travel to coin a phrase

I emailed the company again to ask the state of play with the rig. Will post back when and if I get an answer. Thanks for all the posts. Guess it's hold your nerve time! But good things come to those who wait. Or so I was always told!

As for the 250k seller, well if I had millions of shares of PCI I would be tempted to lock in some profits, wouldn't you all? No doubt they are sitting on a decent profit. I guess when they've unloaded what they want to then we might start moving up again, hopefully soon!

gavdfc: Nice one! Just logged back in. Nice to see the buyers are taking advantage of this price. Bodes well for a rebound.

No problem Grevis. Buyers pushed us back to 14p bid, but Mr or Mrs 250k still hanging around I think? A 500k T trade through near the close. Will be interesting to see what tomorrow brings!

Forgive my ignorance, I have only recently discovered the joys of watching the trades. What's a T trade? I understand an L trade, are there any more abbreviations?

Chinapete, ah the joys of watching the trades. Makes us sweat buckets or get all excited! Definition of a T trade:

'T' If reporting a single protected transaction.
A protected transaction occurs when a large order is going through the market. The buyer (or seller) may wish to keep the order anonymous from the rest of the market as the size of the order could greatly alter the price of the stock. With a protected transaction, the dealer will put the trade through in small quantities rather than knock the whole order out in one hit. The entire transaction is reported once the deal is completed. The LSE is notified at the start and at the end of the transaction. However, the market as a whole isn't told until the end, thus the order is protected.

Hope that helps, and yes there are lots of other types of trades. Once the T trade is reported the affect of it is in the price when it shows up. As far as determining if the trade is a buy or a sell, we can't tell what when it is reported. Hope that makes sense.

gavdfc - many thanks. So far looking more hopeful this morning. Hope we've seen the end of the big selling. Speculation on the ADVFN board that the 500k could be a buy.