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 wee piece on Isarene find in today's Sunday Tribune......

as few people in UK would ever see or even have access to Sunday Tribune - it is an Irish paper I think - perhaps you could enlighten us all with a synopsis.

There's also a South African Sunday Tribune, but can find nothing recent on either concerning PCI.
-Off topic, recent one on Tullow though:
http://www.tribune.ie/business/news/article/2009/sep/20/back-to-business-emmet-oliver-tullow-oil-a-20-year/

Petroceltic shares jump 546% on early details of gas find in Algeria
Gareth Naughton
It may be another two years before exploration company Petroceltic International can confirm that it has hit the jackpot with an extensive gas field recently discovered in Algeria, but this has not stopped its shares rising by 546%.




Chief executive Brian O'Cathain said it is too early to determine how significant the find is but that it could be very large.




"It will be 2011 before we have a good idea of how significant it is. We will then make a plan for the development of the field subject to the approval of the Algerian government. It will probably be 2013 or 2014 before it is producing gas," he said.




Shares in the company jumped last week following the announcement that the company had successfully drilled for gas at the Ain Tsila ridge, with early indicators suggesting a find much larger than expected. Petroceltic shares have been the best performers on the Irish stock market in the past 12 months, rising by more than 546% in the year to date. Davy raised its target price by 3p to 27p per share on the news.

One for the bottom draw I think....

my thoughts too ..... have now sold all but shall keep on watchlist ...... long term prospects are potentially very exciting, though would not be at all surprised to see sp slowly drift away, perhaps as low as (an arbitrary) 10/12p merely through lack of interest

I don't think this changes anything. There are still 3 wells to be drilled & testing for them all. Still lots of mileage left in the sp, imo and see no reason to sell at 16.6p when the target is 26/27p.

lots to be drilled, but even charirman says extent and proper evaluation of the site will not even be for another couple of years

On the other hand it certainly is a likely commercial venture. Now we need Iberdrola to cough up $48m so PCI can buy production assets pronto.

Well I still think that we shall see this in the mid or lower twenties soon, a gentle pullback is going on at the moment : most stocks drifting PCI as well...(crude and gold down and the pound/ dollar)....but I would like to think that a steady little climb should be coming with the next prospect to be drilled...

SP starting to creep up again...

BOC wants to build an empire,no less!

cynic, we still have drills in Tunisia (H1 2010) and Italy (H2 2010) to look forward to.Also chance of further investment from Iberdrola and according to BOC, maybe an acquisition in the offing,plenty more to come.

In time 30p or so...patience...

but not necessarily any necessity to be here today

Thats true..

following the o'night rns, expect sp to open sharply higher

Yep. it looks good!

re-treating now a bit..

Slowly slowly catches the monkey...