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

Perhaps it's going to be like in JAWS : the remark by was it chief Goody I think "we are going to need a bigger boat" because this little gem might have a substantial "gas find" here and the sharks (big boys) might come looking !.

Think it's water works trouble...... no prob's sp now 18p

It's myyy fischhh....Irlll tragg it it myrrself...(Irish accent)....

Have you been sniffing the bleach bottle again, rf???

No, I'm impartial to Dettol.....anyway coming back to PCI...gas prices have risen above the crucial 5.00 level...just checked on the commodity update.

in at 17.95p hello.

Welcome aboard Balerboy....this has to go above 20p...only a matter of time...

Congrats to all l/term holders,bought in myself as i find tese results
exciting and a safe investment as far as e&p's go?
cyril

Cyril,it is a stonking buy at these levels. Paid 18.15p yesterday...

Natural gas up again to 5.14....(see commodity section).

Good. Nice piece on unison.ie on PCI today too.

General pullback today (it has to happen now and again), but this will come right in the end.

anyone no when to expert next up date is it november

Topped up this am,realised they are Isable.
cyril

http://www.independent.co.uk/news/business/news/petroceltic-seeks-partner-to-help-develop-italys-elsa-oilfield-1808833.html

Working hard on 3 fronts here now.

I now have an interest in these, so watch them plummet !!!
My feeling is that there is going to be an approach on PCI in the very near future as they seem to be in that mid way stage of potential massive earnings ( some way away yet I know ) with a very lowly share price for the sector and they are so volatile between a difference of 1p. I`m glad my ECG doesn`t read like their share price chart.

p.s. I agree with Hermana that these are a terrific speculative share at 17p-18p

Good article on PCI here - http://www.stockopedia.co.uk/article/view/32206/petroceltic-a-gas-giant-in-the-making

http://www.stockpedia.co.uk/article/view/32206/petroceltic-a-gas-giant-in-the-making


Junior oil and gas plays are all around us but few are successful. And it's been a pretty tough year for hydrocarbon explorers with the oil price now way below its USD 140 peak, a credit crunch, and the equity markets not easy to tap, funding an exploration programme has become more difficult than it used to be.

But I think Petroceltic might be one of the winners. Not because it gets some royalty income from its investment in the Kinsale Head gas field, in the Irish Sea. That's irrelevant. It's the interests in Africa and the Mediterranean that look interesting.

Petroceltic has a major presence in Algeria, with an active exploration programme. Algeria has the largest gas reserves in the world after Russia [1] , and supplies 10% of Europe's natural gas requirements, so it's a good place to start if you're looking for gas. The country has a bad reputation for being bureaucratic and difficult to do business in but some of the older fields are now becoming mature and producing less, so new field development is vital, and the government knows it. At the same time, new pipelines are being put in to link Algerian capacity to Europe, and the authorities are looking to promote investment [2] . Besides, the fact that the Algerian state oil company is Petroceltic's minority investor is significant - if it puts obstacles in Petroceltic's way, it will be cutting off its nose to spite its face!

Petroceltic holds a 75% interest in the Illizi Basin Isarene PSC (state oil company Sonatrach holds the remainder). It tested the AT-1 well earlier this year, and recently announced the results, which were better than expected - 'a magnitude larger' than previous discoveries. (For stats nerds, it flowed at the rate of 11.4 million cubic feet of gas and 210 barrels of condensate a day.) Further analysis showed that the well exceeds the company's pre-drilling estimates it was the most prolific single zone well test on the Isarene permit to date, according to the company. The second test well, AT-2, is now being drilled [3] .

The crucial fact about the Illizi Basin is that it's not completely greenfield exploration. The field was thoroughly mapped in the late 1950s and 1960s, but the explorers were looking for oil, not gas which wasn't then a commercially viable market. That makes the prospect much lower risk. So does the fact that BP has already shown in the nearby Tigentourine field that gas recoveries can be made at commercial rates, using appropriate technology. It's producing large volumes and is located pretty much next door to Petroceltic's prospect [4] .

Success hinges on getting commercial flow rates from the Ordovician sands, in Ain Tsila ridge, which contain gas in low permeability reservoirs. To do so, the company will have to identify natural sweet spots ....


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Topped up again this am.
cyril