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

Pete, you sound stressed out! Looks as if there might still be a seller out there shafting you! Once they stop selling, maybe you won't feel so shafted.
;-)

Will be interesting to see what today brings.

Just a little exasperated - had hoped to have had some money out by now. Wonder if the spudding announcement is being held back to offset the news that one or more of the institutions has greatly reduced their holdings? I don't understand the selling, and that makes me uneasy. Why don't they hold off selling for a bit and let the price rise, after all there are plenty of buyers. We could be up against a computer programme of course, blindly selling as it reaches trigger points.

Pete, I can see where you're coming from. Been having a bit of a think about this and I believe that many people and some of the institutions will be sitting on a lot of profits. There was a lot of buying back in late June and early July from institutions, also many smaller buyers buying back early this year when the price was low pennies. These guys would have been able to get a lot of shares for their money. My guess is that they have been topslicing quite a bit on the way up and locking in some profits. Can't really blame them if they took out large positions early this year before a lot of the news was released. As you say, you hoped to have some money out by now, guess thats just what the big sellers are also thinking. Anyway, all of this is just my thoughts on this.

At least we are up this morning, seems to be a lot of buyers around.

Cheers

Gav

Happier now Pete! :-)))

We have lift off (for now anyway!)...

Morning all. Exciting morning so far. Have been searching the web for confirmation that PCI has spudded. The last bit of news was released on 26 August and is printed below. Someone on another BB reckons the rig is in place and that he found said information on BG's website for Tunisia.

gavdfc: Those Hamlets are being consumed at an increasing rate. Need to stay calm!



Press Release

Petroceltic Set to Begin Onshore Drilling Program in Tunisia
26 August 2004


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Latest Oilvoice Headlines


Petroceltic is preparing to spud its eagerly anticipated first well on its 7,500 sq km tranche of acreage in southern Tunisia. The company has contracted a land rig from the Great Wall Drilling Co, a subsidiary of Chinese state oil firm CNPC, for the Sidi Toui-3 well in the Ksar Hadada permit with an option to drill a second well. The rig, currently working for OMV in Tunisia, is expected to mobilise to the Sidi Toui-3 location in the next few weeks. Aberdeens Norwell Limited, on behalf of Petroceltic, is preparing the well site.
Petroceltic owns 100% of the Ksar Hadada permit, which appears to hold a number of substantial prospects, most notably the Sidi Toui structure, which could hold over 400 million barrels of recoverable oil within a large fault block structure. A well drilled on the flank of the structure in the 1950s encountered oil and gas in a fractured Ordovician quartzite sequence.
A similar prospect, Oryx, has been identified in the southern part of the permit and is now under final technical assessment for drilling in the near future. The drilling of Sidi Toui-3 will be a key milestone in the former mining companys transition to international E&P player.
The company ended its first year as an oil and gas company with a pre-tax profit of US$1.38 million, reversing the 2002 loss of US$0.66 million. Over the course of 2003, the company, which enjoys a revenue stream from a royalty interest in the Kinsale gas field in the Celtic Sea, built up its finances, raising US$3.9 million from the sale of its stake in Faroe Petroleum and the Shaimerden zinc deposit in Kazakhstan and the issuing of shares for cash.
2004 saw further funds raised through a share and warrants placing, providing a cash store from which the company has built an exciting portfolio of E&P prospects in Tunisia, Italy and offshore Ireland, most recently adding a tranche of gas-prone acreage in southern Algeria to the inventory. Given the prospectivity of the Tunisian lands and the new acreage in Algeria, 2004 could also prove to be something of a transformation for the Irish company.

Relevent Company(s) and News
PetroCeltic
(Click for full company profile)
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Petroceltic Signs Production Sharing Agreement For Oil and Gas Fields in Algeria
28 September 2004

Petroceltic Set to Begin Onshore Drilling Program in Tunisia
26 August 2004

Just look at that volume...

This is either riding on the back of the Mauritannia deal for the minnows there, or something big is about to be announced imo

Morning Grevis, thought you'd be getting through a fair old few here! Cheers for the Oilvoice post. Volumes are good today, almost feels like early summer again! Must be news due soon, well due I think. Wonder if Pete's calmed down yet! ;-)

Pete is very calm, thankyou, although the finger nail biting has now reached his wrist!

Stop selling at 16.50p you silly sods, then we can all make some money!

for the mice amongst us - so sell and make a few crumbs, or (hold breath) buy in again with what few spondolicks I have left? dont smoke, nails not there so whats left?

that was almost completely unintelligible!

Lot of hot money swilling into the oil minnows at the moment, it's even pushing up that well known cash destroyer Emerald Energy.

Still rising, nice! You need new nails Pete! Oil stocks all heading up just now, which is nice if you're in them, especially before they rise.

Guys

Calm down. Don't look at all the big trades and guess what they are. Strangely enough, they are often completely irrelevant. Price move overall and volume size is really the only way to tell.

Big volume breakout today so far. Looking good IMO.

Al

I told you guys this is our week. hold tiiiiiiiiiiiiiiiiiiiihgt. momentum is there as large volumes which support the price.

Big Al,

Calm and happy. Been in this one a while now so good to see the action right now. Volumes have definitely picked up here which is nice to see. Thanks for the tip re trade sizes.

The market seems to get fixed ideas about the max. a share is worth. Breaking through the perceived ceiling of 17p may take some time. Perhaps the RNS will do it.

107606 : mouse or man - brave or not? Sell and make a few bob? Or buy in again with little cash left(spondo) and make more. Decisions, decisions. Dont smoke so no Hamlets to burn, nails bitten with worrry so.. Its going the right way now, fingers going white holding tiiight :-)