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

a lot of buying up this morning. they must be testing the last well as we speak - might be good

Article and analysis, click HERE

Some forecasters think AT-3 will be a return to AT-1 like flow.

"Petroceltic International plc is pleased to announce it has signed a Farm-in Agreement with Vega Oil S.p.A. ("Vega"), a wholly owned subsidiary of Cygam Energy Inc. (CYG: TSX Venture Exchange) to increase its participating interest in permit B.R268.RG, which includes the Elsa discovery, offshore Italy, from 40% to 70%. Petroceltic will also assume operatorship of the Permit. Vega will retain a 30% interest.

Under the Agreement, Vega will transfer a thirty per cent (30%) participating interest in the Permit to Petroceltic and in exchange Petroceltic has agreed to pay one hundred percent (100%) of the drilling and completion costs for the proposed Elsa-2 well ("the Well")."

More good news but no sp reward yet.

sorry old news taken off

any bl***dy news would be nice....lol

AT-3 test news cant be far off.

"Application has been made to the Irish Stock Exchange and to the London Stock Exchange for 6,000,000 new ordinary shares of 0.0125 each in the capital of the Company to be admitted to trading on the IEX Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange respectively and dealings are expected to commence in theses shares on 30 December, 2009. These shares have been issued pursuant to the exercise of options.

The total number of shares now in issue (inclusive of the above issue) is 1,376,261,049 ordinary shares of 0.0125 each."

Option shares for ex CEO.

AT-3 Tests Results Tuesday early doors?

How an Emerging Gas Crisis Could Turn this
Company into an Industry GiantLook for
Potential Gains of 188% in 12 Months!
There is no way to disguise the fact. In Europe
right now, we are in the grip of an energy crisis.
Nowhere is this crisis starker than in the case of
natural gas. And it could get much worse.
The European Commission has predicted that the
EUs demand for natural gas will rise from 537bn cubic
metres (bcm) in 2005 to 666 bcm in 2030. That will
mean a near doubling of gas imports.
The situation here in the UK is especially worrying.
Two years ago we relied upon imports to meet one quarter
of our gas requirements.Already this year that has climbed
to one half. Since we are right at the end of the network of
pipelines that transport gas throughout Europe we can
only hope that the gas continues to flow. But Europe
needs to import more gas. This much is abundantly clear.
This worrying state of affairs was uppermost in my
mind during my recent meeting with Brian OCathain,
the CEO of Dublin-based gas exploration and
production company, Petroceltic International.

Petroceltic focuses on gas projects in southern Europe
and North Africa. And its interests in the latter region
had me thinking this company had the potential to
make a killing from this emerging gas crisis.
To understand why Petroceltic is so strategically wellplaced,
it helps to know the distribution of gas reserves to
which European countries have access.
Norway and the EU countries have combined proven
gas reserves of about 200tn cubic feet (tcf). ButAlgeria
alone has around 160tcf, while Libya and Egypt have a
further 130tcf.
While some of Europes near-term supply will,
politics permitting, come from Russia, an increasing
amount is going to come from North Africa. This is
where Petroceltic is currently very active.
Petroceltic is paving the way for a transformation

In May, Petroceltic embarked upon a programme to
drill up to seven wells on its Isarene permit. This is an
area of land to the south-east of Algeria, located just
80km south of the countrys second-largest gas field
and close to one of its many internal pipelines.
Petroceltic has a 75% interest in this permit, while
the Algerian state oil company, Sonatrach, has the other
25%. But another highly interested party is the Spanish
gas supplier Iberdrola. This company invested $55m in
Petroceltics shares at 13p and has paid $7.3m for an
option to acquire a 49% stake in Petroceltics Algerian
asset for $47.7m.

If successful, the companys Algerian programme
could be transformational. So when I spoke to Brian
OCathain, what I wanted to know was this: If its
drilling campaign in Algeria is successful over the next
12 months, just how significant would this be for
Petroceltics share price?
Oh, its big, he told me. This is not for widows
and orphans the risks are high. But potentially we are
looking at the creation of a major gas producer.
Of course, the CEO didnt want to tell me how big.
But that was enough to put me on the scent. This share
was beginning to sound red hot. So I found out what
the analysts thought.

Petroceltic has a number of irons in the fire at the
moment, with its Algerian programme the biggest.
With success in this one alone, Tristone Capital believes
the company could see a share price gain of up to 188%
in the next 12 months. With success on all fronts, this
figure shoots up to 844%! And thats not even the most
optimistic estimate.

So lets find out what the probability is of Petroceltic
making these fantastic gains. As you will see, its less of
a possibility, more of a probability.
Three reasons why Petroceltic will lead
the way to supply gas to Europe
Petroceltic is in a remarkably strong position
right now. There are three big reasons why. One:
It is prospecting in an area that is very promising froma geological perspective; two: it has all the necessary
infrastructure and political connections; and three:
crucially, it has the money to finance its
exploration campaign.

Already Petroceltics Algerian programme is
showing considerable promise. Its Isarene permit area,
in which there are three different zones the North
West, El Biod and the Ain Tsila ridge looks to be
potentially the most lucrative.
The most important of the Isarene zones is Ain Tsila.
The first well drilled here, AT-1, encountered 85m of
gas-bearing sandstone with a flow rate that comfortably
exceeded the requirements for producing well. So what
sort of scale of discovery are we talking about?
Well, based on this first well alone, the consultancy firm
IHS Petroconsultants has estimated that there is a 50%
chance that it contains reserves of 2.25bn cubic feet of gas.
This would make it the largest gas find in Africa this year
and the tenth largest in the world.

The question now is the extent of this field. To
define this, Petroceltic has drilled a second well, AT-2,
9km to the south. It is also going to bring forward the
drilling of a third well.
The AT-2 well has already logged a gas column of
100m during drilling in October and testing should be
completed before the end of this year.
A similar result to that from AT-1 would be highly
significant. It would confirm the presence of a gas
reservoir to the south, substantially increasing the
likelihood that a major gas field exists on the Ain
Tsila ridge.
Already it looks as if the Isarene permit and Ain
Tsila in particular should be a company-maker for
Petroceltic. But the story does not end there.

Why Petroceltics share price
should move even higher
In Italy, Petroceltic has a 40% share in the Elsa offshore
block in the Adriatic, a 37.5% interest in a permit in
Sicily and a number of permits in the Po valley. And in
Tunisia it has a 27.1% stake in an on-shore licence.
There will be action in Italy in 2010. An appraisal well
should be drilled in the second half of the year on the
Elsa block. This site has been independently assessed to
have potential oil reserves of up to 180m barrels.
Meanwhile in Tunisia, Petroceltic has farmed out
its permits to the Hong Kong-based PetroAsian
Energy Holdings, which is bearing the costs of an
exploration programme that should see two wells
drilled in mid 2010.

According to Tristone Capital, success at Elsa could
be worth another 35p per share, while Tunisia could
add another 6p.

To these we must add the other Italian licences where
Petroceltic is still in the earlier stages of appraisal.
Assuming success on all fronts, this puts the sum total at
151p, in Tristones estimation. This represents a gain of
979% on the current share price of 14p.
But analysts at Davy and Mirabaud are even more
optimistic. They see a maximum potential of 229p and
239p, respectively

RHPS Verdict: It is unreasonable to expect that all of
Petroceltics projects will be successful. But, even if only
a quarter of their potential is realised, the share price
could still double from here. Petroceltic is well funded,
should soon announce important news from its AT-2
well at Ain Tsila. In addition, with a stock market value
of around 200m, the shares are widely traded and
enjoy a narrow dealing spread. With a 40p target, BUY

cyril

who are RHPS?

Red hot penny shares,
cyril

how good is their track record?

It's a investor magazine which carries some weight,it at least alerts the public to potential and of course publicity can only be good.Not to sure as to its record,don't subscribe.
Hold a fair few myself as i feel risk reward worthwhile,a better buy at 13.5p
though.
cyril

don't really disagree with your sentiment .... i hold them too, but not desperate to buy more!

Another GKP maybe? A stock which i missed at 12p and later20p+,still beating myself up over that one,doh.
cyril
ps. with KAH flying EML is looking cheap and could make some short term gains?

In my experience RHPS and the like search out these undervalued co's that have immense prospects and alert joe public, initially the sp's of the co's concerned improve and then fall back as joe public realises that any significant (if any) rise in the sp is several years down the road, aimo of course.
2517

This one might do better than we think this early part of the year as gas futures are rising almost every day....and gas shortages and storage are very much in the news....and what with this severe winter....could put gas producers and explorers very much in the picture.