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

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.

You're welcome Chinapete. Does look a bit better today. Just hope that the seller won't keep selling into any price rises if they are still around. Read about the 500k on ADVFN, hard to tell what it is, but at least it's in the price now. Nice buy if it was a buy though. Delayed 200k buy just gone through.

Trades help, folks

http://www.moneyam.com/help/?page=trades

Also, nicked from another site!

Trade Types


The London Stock Exchange has several types of trade.

Each has a one or two letter code.This is a complete list of the codes.
'O' Ordinary Trade (System will delay if over 6 x NMS)
A standard trade made through the Market Makers and dealt at normal settlement date.

'B' Broker to Broker
A transaction between two member firms where neither firm is registered as a market maker in The security in question and neither is a designated fund manager.

'EU ' Euro Automated Trades

'ER ' Euro Trades

'K' Block Trade
A transaction using the block trade facility.

'L' Late Trade
Late trades, as the name implies, are trades that are reported to the Stock Exchange some time after the trade has been executed. There can be a number of reasons for this. Stocks have a market size, the size varying with each stock. If a trade is executed that is six times the Normal Market Size then the market makers, for stocks traded on the full list, do not have to report the trade for 1 hour after the trade was executed. Once reported, this would show as a late trade. A trade would also show as being late if the bargain had to be amended for any reason, like an alteration to the settlement date. Once the bargain was amended, the amended bargain would show up as a late trade.

'LC' Late Trade Correction
A correction submitted more than three days after the trade date or where deferred publication is permitted at any time after the trade report was submitted to the Exchange reporting system.

'M' Market Maker to Market Maker
A transaction between two market makers registered in the security in question including those executed through an inter dealer broker or a public display system.

'N' Non Protected Portfolio
A non-protected portfolio transaction or a fully disclosed portfolio transaction. Normally a transaction of a number of stocks dealt with by one market maker at an agreed discount to the market price.

'NM' Not to Mark
A transaction where the Exchange has granted permission for non-publication.

'NR' Non Risk (SEATS Based Segments only)
A non-risk transaction.

'P' Protected Portfolio
A protected portfolio transaction or, if reporting a trade resulting from a worked principal agreement for a portfolio transaction. Like a non-protected portfolio, but the price dealt at can be amended if the market maker manages to make a 'good' profit.

'R' Riskless Principal transaction at different Price
A riskless principal transaction with two non members, where the two transactions are executed at different prices or on different terms (this requires two separate trade reports). This happens often on a trade where commission is not charged. Instead of paying commission, the client will pay extra for their shares.

'RO' Result of Option
A transaction which resulted from the exercise of an option.

'RT' Risk Trade (SEATS Based Segments only)
A risk transaction.

'ST' SEAQ Trade
This is used for the single uncrossing trade, detailing the total executed volume and uncrossing price as a result of a SEAQ auction.

'SW' Stock Swap
Transactions comprised in a stock swap or stock switch (one report is required for each line of stock swapped or switched).

'UT ' Uncrossing Trade
This is used for the single uncrossing trade, detailing the total executed volume and uncrossing price as a result of a SETS auction.

'X' Cross at the Same Price
A transaction was effected as an agency cross or a riskless principal transaction at the same price and on the same terms (this requires one trade report).

'AT' An automatic trade generated by the SETS system through the order book.(Level 2)

'PA' A protected transaction at the time that protection is applied.

'PC' Post Contra. Used when reporting a Contra Trade when the contra date is not the trade date.

'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.

'WN' Worked Principal Notification.
If notifying the Exchange that a member firm has entered into a worked principal agreement for a single security.

'TS' Test Security. If using a test security to test trade reporting.

'WT' Worked Principal Trade. If reporting the trade resulting from a worked principal agreement for a single security.

'CT' Contra Trade. Used to publish a contra trade in a previously automatically executed trade through the order book.

'AI' Automated Input facility. If reporting that a member firm has disabled its automated input facility in response to a request from the Exchange.

'PN' Worked Principal Portfolio Notification. If reporting that a Member firm has agreed to take on a worked principal agreement for a portfolio transaction.

'VW' Volume Weighted Average Price
A transaction that was effected at a price based on a volume weighted average price over a given period.

'RC ' Regulatory Conformance
This is a test segment for which no trade reports will be disseminated.



Hope it helps.

As a general rule, forget trying to interpret most trades larger than NMS

You can reverse your short now AL.....pleeeeese

I'm still long! ;-)

Yes folks it's true - I was only jesting - of course he is

Cheers Big Al. Thats where I nicked it from also.

Just found this under Paladin. They sunk three wells in Tunisia and all came up trumps. Bodes well for PCI. Now where is that rig?


Paladin Resources PLC
15 July 2004


Paladin Resources plc

('Paladin' or 'the Company')


Third Tunisian Oil Discovery

Paladin announces the discovery and successful testing of oil in Dalia 1, the
latest exploration well in the Adam Concession in southern Tunisia.

The well, operated by ENI Tunisia B.V. ('ENI'), was spudded on 20th May 2004 and
encountered several oil and gas bearing zones distributed throughout the Acacus
A and Tannezuft sandstones at a depth of approximately 3400 metres.

During initial testing of selected oil-bearing intervals across 11 metres of
perforations, the well produced at a rate of approximately 3,600 bpd of 44
degrees API oil on a 48/64' choke and at a flowing wellhead pressure of
1,150psi.

The well has been completed and suspended as a production well pending approval
of a field development plan and hook up to existing process and export
facilities some 13 km distant. Paladin anticipates that field production will
commence within the next few weeks. The rig will move shortly to the adjacent
Hawa Field to drill a second production well.

If the Tunisian state oil company, ETAP, confirms their intent to participate,
Paladin will have a 7% interest in the Dalia Field. Paladin's partners' will be
ETAP (30%), ENI Tunisia B.V (17.5%), ENI Tunisia BEK (17.5%) and Pioneer Natural
Resources Company (28%).

Roy Franklin, Chief Executive of Paladin, commented:

'This is our third oil and gas discovery in succession in Tunisia, which, with
rapid tieback to existing process facilities, should be contributing to the
Company's operating cash flow in a matter of weeks. In addition, negotiations
are ongoing to allow the commercial production of gas from the Adam Concession
to commence later in 2004.'

15 July 2004

Enquiries

Paladin Resources plc Tel. 020 7024 4500
Cuth McDowell, Finance Director

College Hill Tel. 020 7457 2020
James Henderson
Nick Elwes


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

From Ireland's Phoenix Magazine....

WITH drilling due to commence at the end of this month in Tunisia, this will bring a new excitement to Petroceltic shares, which are currently only quoted on the London AIM market and trade at stg15p. These shares are, however, only for real gamblers, although last weeks interim statement confirms that Petroceltic is no longer a one-drill risk.

John Craven believes that the Tunisian prospect is worth a gross $18bn, but apart from the 400 million barrel prospect the company is about to drill at the
end of this month in Tunisia, it now has other interesting prospects in Algeria as well as some new prospects in Italy.

The big new factor in Petroceltic is the joint-venture contract Craven entered into on July 29 with Sonatrach, the Algerian State oil company, one of the biggest hydrocarbon operators in the world. In this deal Petroceltic gets a 75%
stake in the 6,000 square mile Isarene block, which is located in the hydrocarbon-rich Illizi basin in Southern Algeria.

Six successful discovery wells have been drilled on this particular block and one of these has an already proven 380 billion cubic feet of gas, with potential on further drilling for this to be twice the size of Marathons big Kinsale gas discovery. The oil discovery has 28 million barrels of oil already proven and a potential for up to 400 million barrels of oil.

A second gas target has also been successfully drilled but not yet proven up, with the potential to host five trillion cubic feet of gas.

These are enormous figures but, even just taking the 28 million barrels of oil proven, this alone is worth $1.2bn at the current oil price.

As this prospect is on land and within an area in Algeria that already has a large pipeline infrastructure, the cost of getting this out would be minimal and, as part of the deal, Petroceltic has the right to sell this oil on the open market abroad. This reserve alone makes Petroceltic shares worth a multiple of the current 15 pence.

Of most immediate interest to investors is that last month Craven succeeded in signing up a drilling contract for his onshore Tunisian prospect with Great Wall, an offshoot of the Chinese National Petroleum Corp, at a cost of only 1.5m. The plan is to mobilise this next week, with the objective to spud in the drill by October 1.

This Ksar Hadada licence covers 10,000 square miles. The Sidi Toui prospect being drilled is not virgin territory for it has already been drilled twice. Petroceltic not only knows that there is oil there but has a lot more information on the geology of the prospects. It is this which has encouraged Craven to put a 50% probability on this Tunisian prospect coming up trumps with 400 million barrels of oil.

On top of Algeria and Tunisia, Craven signed up a farm-in deal last June in Italy to acquire stakes in two existing licence areas. The first of these
is an option to take a 40% stake in Miglianico East, a shallowwater, offshore prospect.

Previously, in 1992, the Italian state oil company, Eni Agip, successfully drilled this prospect but at the time the oil price was down at $10 and not viable. Petroceltics partner here, Rigo Oil, commissioned a consultancy report on this prospect which advised that there was a 50%probability of this reserve containing 182 million barrels of oil, with a 23% probability of success. A 40% stake in a discovery this size offshore a core EU country would be worth really big bucks.
The other Italian interest is a 40% stake in the onshore Civitiquana licence, which has yet to be drilled. Back at home, Petroceltic has farmed into a 38% stake in two gas prospects adjoining
Marathons huge two trillion cubic ft Kinsale discovery the East Kinsale prospect and the larger Old Head of Kinsale prospect. These are estimated to
contain one trillion cubic feet of gas but with the current gas prices hitting 40 cent per cubic ft, a prospect this size could be worth 400m. This is not big
money in the oil business but given that it is quite close to the infrastructure Marathon built on its Kinsale discovery and could quite easily be piped into this if discovered, this is a very interesting side play for
Petroceltic. A GAMBLE With 15m cash in the bank and the upcoming Tunisian well
only going to cost 1.5m, Petroceltic shares are currently a buy at 15p. They are, of course, a gamble, especially after the disappointment of Ramcos
development on Seven Heads and Providences Blackrock drill. However, if you have the nerve for it, Petroceltic shares are going to be an exciting play over
the next month and possibly of even more interest next year when Algeria is drilled.

thanks again grevis.....very positive stuff!!!!! confident and patient :-)

Cheers for the Phonex mag post Grevis. Still not had a response from PCI about the rig, guess I won't be getting one.