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

(If we could I think I would be elsewhere by now spending the profits.

;-))

ditto...hope you get back in (when you feel the time is right) and hope we all win...I'm confident we will :-)

reading the news article - surprised its not higher - given theres been finds before in the area - looks highly likely they will hit something

m100...i'm confident they will :-)

Cheers for posting the artcile PatsyM. From the Oilbarrel article:

"Petroceltic is now keen to pick up further acreage in the Isarene area. It has pre-qualified as an operator for the countrys sixth international bid round, in which 10 blocks have been put up for auction including acreage near the Isarene block.

Craven praised the Algerians for the transparency and speed of their bidding arrangements. The last bid round worked almost like clock work, he said."

Perhaps this is what the previous fund raising was for, an eye on bidding for further acreage in Algeria?

Happy days ahead hopefully.

good luck everyone...hope we all have a great week!

hope so on this one - in a similar vein -anyone holding BLR? Black Rock Oil - very quiet down under..

Sold out again this AM while still had a decent profit. I think, based on past performance that we are heading for sub 15p again. Can't see a rise till right at the last minute, but they are unpredictable. My current thinking is to go into the drill announcement with only a small amount which I won't mind holding long term, trying to buy more if there is any oil. After all, if there is a strike they are likely to carry on rising for some time, after the initial jump.

The alternative, holding a large amount, risks a big short term loss if a dry well, and a capital tie-up for say six months. Don't want to risk that. They will probably come right in the end,whatever happens, but you never know.

chinapete...as they say, each to their own...If PCI head sub 15p, it will be very very temporary, current support 16. We are now in the latter part of October, drilling has more an likely commenced and we should have some indication as to its progress soon so I can't imagine all those who have been in and who are looking to return are going to wait till the very last minute...some will. Yes, PCI is unpredictable and it is impossible to judge who is right or who is wrong...by god it would of been a long wait...but for me, I'm confident PCI will be moving in the coming weeks (esp prior to final results in November as we've been promised updates and we will get them)...as for the well being dry, realistically, there is that chance but again...I'm confident oil will be found, lots of it!!...if I was'nt, I don't very much doubt I'd be here.

The trend from last Weds. is down. Looking at the chart for the last few weeks I would put support at no more than 15p - but there is no iron law of support. They might be perceived as a must buy at 14p (me for one), but is the case so compelling at 16p? We might find out tomorrow.

How many are only in because they believed in a 20p pre-drilling price and a quick profit? Will many of them jump ship or reduce, in the face of further falls? I was disappointed at the small effect of the last RNS: and there are still 100k sales around.

I wish a genned up geologist would comment on the PCI estimate of 2:1 probability of success as ST. Tried to research it, but could form no conclusion, other than that it looks optimistic compared with other drillings in the region. I know that oil was once found there, which helps but not decisively. After all there is some oil under chunks of Southern England, the problem is much of it is uneconomic beacause of small quantity or poor flow rates.

I blow hot and cold on PCI, hence I trade them, to the absolute joy of my broker! Still I have made a 25% return on them over the last 6 months and it is safe in the bank at the moment. Developments awaited with interest.

Thanks for your comments.

Interesting comments cp and roo - still think c 18p is more realistic price rather than 16p, with an upsurge after they find the black stuff - (SEY is similar hovering c18p - no dont have any sadly). Probably sell half pci on strike news, keep half in there for future steady growth.

chinapete...thanks for your feedback...as they say, only time will tell but glad you made a decent return :-)

m100...same here but guess sp is being held down for a reason...still see the sp moving up once more news is known...

Looking a lot better today. Read on another board that Evo's have put out a buy note with a target price of 32p. Seems to be a bit of interest today.

Taken from another BB:

Petroceltic (PCI) Buy
Price/Target: 16p/32p

The leveraged option
Petroceltic is adopting an innovative approach to exploration by offering low risk but high potential exposure to a series of interesting exploration prospects, to be drilled in the short-term. Petroceltic has a differentiated strategy of focusing on leveraged exploration and not setting out to be a production company. The approach is to participate in low risk but high potential projects with
significant interests, where the company and shareholders are exposed to material upside through drilling. Short timescales are also a key part of the model with rapid progress towards drilling to establish reserves generating news flow. If successful the company is looking to crystallize value in the short-term rather than follow through into production
News flow should initially come from onshore Tunisia where the company is shortly to drill, what it considers to be, a relatively low-risk appraisal at Sidi Toui with substantial upside. In 2005 the group is looking to drill on an attractive licence in southern Algeria, which contains six existing discoveries, and in Italy where the group has acquired two licenses, one of which contains an oil discovery and is adjacent to, and updip from, the Miglianico field.

Thanks gavdfc..nice bit of info!

You're welcome. Seems to have brought in some more buyers, pretty sharp rise maybe on the back of this.

I know all the short term focus right now is on ST, but this part of the note is also important for long term holders:

"In 2005 the group is looking to drill on an attractive licence in southern Algeria, which contains six existing discoveries, and in Italy where the group has acquired two licenses, one of which contains an oil discovery and is adjacent to, and updip from, the Miglianico field."

Look at the success First Calgary have had in Algeria.

Looks like any bid at 16.5 or over provokes the 100k seller into action, limiting the gain, even on a good day like this. I wish we knew what is going on.

Well we held 16.5 bid today so will be interesting to see what tomorrow brings.

have a great day all...may we continue to build on gains made yesterday :-)

FYI...from another site:

From the Daily Mail today (see P74):

Aim-quoted Petroceltic the oil and gas investor, improved 3/4%p to 16%p on a
bullish Evolution tome. Its target price is 32p.