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

Will this be announced?

That was a good article in 'Phoenix'. Even without Sidi Toui, this stock is now great value.

"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."

Why the drop recently? Just a dearth of information?

107606: Think the market is just following Wall Street which fell 135 points yesterday on worries over the hike in oil prices.

Oil Prices Soar on Worrisome Supply News
Wed 6:09PM ET - Associated Press
Crude futures prices surged above $48 per barrel Wednesday as oil production and shipping disruptions caused by Hurricane Ivan caused domestic supplies to shrink more than expected.

I see, so not company based? Thats a relief I guess...

The downside on this stock is pretty minimal at this stage and is totally outweighed by a substantial upside. The graph is showing an elongated 'm' formation, which indicates that we are near or at the bottom of the current trading range. Drilling at Sidi Toui is imminent and oil has already been discovered there in the past. Volumes are quite low and many are getting frustrated. Hold tight and enjoy the ride.

not sure what they're worried about on advfn.......patience is the name of the game........confident news will flow soon :-)

This slip this morning is a regular thing with the minnows when the price of oil goes up, they go down, don't know why but it happens.

I still hold and and not about to change my mind.

Unfortunately, the FBB is populated for the most part by a bunch of goons.

PCI ain't going anywhere until drilling starts. Good news and it'll fly, bad news and it's 8p. Set a stop and watch IMO.

Most likely Big Al.

Nice to see you about again. :-)

sw

I see PLR finally got to 140p. I must've been some use! ;-)

Yes but it is not exactly galloping is it?

Seems a bit prone to conditions.

Tullow looks good, had a bit off them this week.

340,000 changed hands at 14p. Is this most likely two offers to buy at a keen price which some dealer has filled?

Looking at the current situation I am teeny weeny bit suspicious of manipulation. Drive the price down with a series of IOOk/200k sells, buy a lot low down in smallish quantities and then again heavily perhaps a few days ahead of the results to make it look like a results leak, then sell into the frenzied reaction - result a killing. Possible? Probable? I am sure one of you brains will remind me that just because I'm paranoid, doesn't mean they're not out to get me. At least that's what my keeper always tells me.

Anyway, could it be done with a company as small as this using a few million shares?

You are being paranoid!

That would mean there are dishonest people in the City!

How could you say that?

I just can not believe you.

So there!

Well there's no need to be cross with me. I only asked. At least there are some buys this morning, lets hope they go up before the wife finds out how much I am down!

Chinapete, only kidding you!

Chinapete, only kidding you! I know.

It is possible though surely, because the series of sells rattled the weak holders into selling, increasing the effect substantially. However the price will have to go up for whoever is doing this to make anything, and I take comfort from that. I still think the right strategy will be to top slice heavily at some point, which is plus 15.3 for me, but picking the right moment will be tricky, and I will probably do it in stages. Also bearing in mind where they are now am now getting less bullish about prices much above 17p unless there is a strike, or unless there is deliberate manipulation,in which case they will be driven higher. Collapses foaming at the mouth and chewing the carpet on seeing the latest sell price from his broker.

Don't look now guys but the 100k sells are back!

No need to get nervous about this.

The buys and sells are more or less level.

I have seen the cross section of rock strata where they are drilling, and there seems every likelyhood that there is a big puddle there beside the fault line.

A further point is that if there is as shown, there will be a corresponding one below the fault line which may either feed to top one or be tapped into later depeding how har down it is.

DYOR, imo etc.

Morning all,

Thanks for posting the above SWW.