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

We top sliced on this one this morning, excellent profit, concerned about the delay in news, but will hold the balance for the time being.

today's volume = 21.5m, a good 5x more than usual ...... hope it presages something good

I have decided to hold & see what the next RNS brings. Hope usurps reason in this case.

HC,will this time be different? LOL.

It bl**dy well better be, otherwise I am going down there to Algeria & kick some butt!

Watch out for the flies & the camel shit.

here you are guys n gals .....

Brian O'Cathain, Chief Executive of Petroceltic, commented:
'We are delighted with the results of the AT-1 well test. This test exceeds our pre-drilling expectations, and is the most prolific single zone well test on the Isarene permit to date. The potential hydrocarbon resources associated with the Ordovician Ain Tsila ridge structure are an order of magnitude larger than our earlier discoveries on this permit. These well results confirm the significant commercial potential of the Isarene permit to Petroceltic and our partner Sonatrach. We look forward to reporting results from the AT-2 well in the near future'.

Link to today's RNS:

PCI - New gas discovery in Algeria

Great gas discovery.....better than expectations with more to come !.

Serious Commercial Potential. Sonatrach to sign up soon?

Meant Iberdrola to sign up pronto?

24m traded already! .... albeit that there is a margin of error, buys outnumber sells approx 2:1

it would be nice to think that there is a predator on the prowl, but other than the volume, there really isn't much logic other than wishful thinking ..... pretty much the same could be said of PXS

OFF ANOTHER BB


Petroceltic : Buy Current Price (19p) Price target (Under Review) Analyst : David Dunk
Petroceltic has released the first of its long awaited test results from its Algerian drilling campaign. The AT-
1 well, on the Isarene permit in Algeria, has successfully located the target zone. The well flowed gas up to
11.4mmscf/d and condensate up to 233 barrels per day. The flows from the well are a multiple of that
which Algerian state oil company Sonatrach deems commercially viable. Hydraulic fracturing was not used
to increase the flow rates of the test well, due to the better than expected porosity and permeability of the
reservoir. The gas water contact at 1,948 metres is deeper than expected, which has positive implications
for the potential reserves in the reservoir. Petroceltic also stated that AT-2 well from the same prospect, is
currently coring in the target zone. The INE-2 well, which was drilled earlier this year, will be tested following
the completion of the AT-2 well. We will review our price target on Petroceltic following todays announcement

Surely the question now is how many of the other wells are going to be commmercially viable? Worst case scenario is that all the others are dusters, in which case the sp has gone as far as it's going to go, imo. AT-2 is from the same prospect, so hopes are high that this is going to produce a good result. But this is all speculative. My stance is to hold a stake (I have 5 lots from 8.9p up to 14.5p) & I will sell some along the way to lock in profit. But whether there is a predator or not on the horizon can't be relevant atm. Their decision will be based on the testing results.
If you're not in it, you can't win it, so hold a realistic stake for the rest of the testing is my opinion.

I'm staying put : good result today...more to come and at a guess the sp should go up to the lower twenties very soon.

AT-2 should make pleasant reading too with the words "Declaration of Commerciality" enclosed within.

So let me get this right harry your saying this is the best we can expect they've put a target price of 26p on sp as it stands

Not really. The question being asked on a few bb's is why hasn't the sp gone into orbit on this news? The answer seems to be that AT-1 itself is not good enough to push the sp any further, particularly as it was only a shallow drill.
Back in may there was a post on this bb:
"The first well will be a relatively shallow target and kick starts what will be a very active period for one of the best-funded E&P stocks on the market. We see a risk-weighted valuation for the group of 24p per share with the current drilling campaign a major value catalyst for the stock."

Not bad Harry let me no wt you think this?


http://www.independent.ie/business/stocks-markets/petroceltic-shares-advance-on-algerian-gas-discovery-1893284.html

just gets better and better