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

The 5000 buy ar 14.45 is my little toe being put back in the water. I have a hunch that the 790k X trade might be the end of the big selling. If not I will have to start averaging down.

Well at least you got back in now Pete.

Found this on another BB but can't get the interview to play. Maybe someone else will have better luck.

http://www.wallstreetreporter.com/profiles/PETROCELTICINTERNATIONAL.html

There's full comment on the ADVFN board. Have you got a recent free download RealPLayer on board. Nothing you don't know in the interview. I didn't realise that their Geologist is the discoverer of the Libyan field.

He sounded very upbeat, but that's to be expected. If I knew nothing about PCI and I heard that interview I think I would have bought some.

I was wrong about the seller - still going strong. Dumb mistake number 6078. I still suspect we have bottomed though. Any cheaper and many will find them a compelling buy, including me. Long term I don't think these are much of a risk because some of the upcoming prospects look so promising. My dilemma is that if I sink a lot in them now and ST is dry, then I am going to have a lot of cash tied up for a long time, with a share price below my purchase price. They should rise in the next three weeks if the selling stops. If once they start to go up everyone will pile in, either because they fancy PCI or because they see a chance of a quick turn. Perhaps not above 17 pre-drilling result, but anything can happen.

too right...anything can happen and to judge what the price will be prior to pre-drilling is anyone's guess...no one knows not even PCI!! We could be well suprised, lets hope so!!

ps to predict the correct sp at any point of time is pure luck/guess work...as events are out of our control (who knew that PET was going to rocket (temporarily perhaps)and not disappear in to oblivion as so many had been predicting??.....anything can happen and it more and likely will :-)

Cheers for the rundown on the interview Pete. Not got Realplayer on my pc, might put it on later and listen to the interview. Hope you're right about the bottom but hard to predict as Roo points out.

As for dumb mistakes, we all make them! If the well is dry, then yes the sp will head downwards sharpish so I can understand your dilema. Then no doubt it will languish at a low point for a while, how long is anyones guess. Then as drilling of the Algerian prospect nears the sp should start to rise again. But yes you may have a wad of cash tied up for a while as we wait for Algeria if ST is dry.

As for a strategy re ST. You said you bought in yesterday so you have a position at this level. One way may be to follow Tournesolf's plan, wait for the results and then buy more if the news is good. If not good then you don't have all your cash tied up. But yes anything can happen as you and Roo pointed out.

Hope some of that made sense, heads a bit fuzzy this morning, too many beers last night!

chinapete look at PRE!!!

Thanks Sea - fortunately I spotted them and sold half at very near the top, so I now hold at 14p whilst waing for DD.

I think they may fall back now - could be an over reaction, since the political state in Bolivia is dodgy, there is no great market and GTL is only at the discussion stage here.

But gas in Texas will be the jackpot - ever hopeful.

Back with PCI, bought another 15k, and looking to double again when the big seller position is sorted out. I think that spare cash put in now at 14.5 could give a nice gain next week on a quick in and out basis. Some money can be made without a drop of oil being found - and shedfuls if oil is found.

The 200,000 sell at 14.12 could be delayed from much earlier. There must be an RNS soon. If not then the sale is continuing and must be "massif"

According to the interview with Wall Street reporter, drilling results for their Tunisian project should be out some time mid November. I will buy some once I get some cash, will also increase HNR stake.

1 million sale at 13.75 at 16.10!

The last trade at 17:10 was at 14.25 and was in the range of bid 13.5 and offer 14.5 so was probably a buy, although a reduction from the 14.44 which I had just paid at 16:25. Don't know the amount, it was within the settlement period after the close of trading.

xmortal...I might be wrong but drilling results were quoted as being available early to mid november...perhpas we'll have some feedback before the actual results are known just to wet everyones whistles before she blows :-)

Looking healthy this morning. A 1p/2p rise when the spud is announced perhaps?

the spud?

the spud? Ok - when the announcement that the ST well has started drilling, or spudded. In any event, it's big potatoes!

or bags of fries!

Look at the pretty blue colour on the trades board -yummy, my favourite colour. Dare I order the Merc. yet that I so richly deserve.

Just wait a little bit longer. I have been looking through Porche brochures.

When do we reckon there will be news on the drilling?

I have just come in from the second hand car dealers, I am looking at a 1985 Ford Escort 6 carefull owners and no service history.

Should be able to afford it soon at this rate!