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

Mickey,step back and reassess PCI before making your mind up,several ways this could go(assuming successful).
1 A major comes in and takes over in the near future,which would get you your 25p?
2 They hold off until the picture is much clearer(maybe hugh,an ekephant or evena monster field) ,then perhaps 50p/200p+?
3 We go it alone which will require much fund raising (so dilution),with a time scale of 4years before 1st production. This for very patienr investors
would be the ideal scenario.
Its just a question of how you see it,maybe some top slicing and allow
any profits to run. The difference between trading and investing i suppose?
aimo
cyril

Cyril I'm with you on all that you say.. plus I've been here for about 3/4 years now i only hold about 65,000 share so as for top slicing no point. I also buy for long term normal just fill every time were about to move up ........Och back down we gooooooo.....But i will hold ;-)) maybe for another year let see wt the weather brings

Iberdrola unloads Petroceltic stake
Business Financial Newswire


Spanish energy group Iberdrola has sold its entire 15.68% stake in oil and gas company Petroceltic International to a group of existing and new shareholders at 16p per share.

The sale on Friday (January 15) represented a 1p per share premium to the previous close.

Iberdrola's board representative, Pablo Fuentes-Cantillana, has resigned.

The Iberdrola shareholding had been subject to a lock-in arrangement. In exchange for Petroceltic's consent to allow it to place the stake via the company's brokers, Iberdrola has agreed to early termination of its option to acquire a 49% interest in any of Petroceltic's upstream assets.

Petroceltic has agreed to repayment of the $7.3m option fee paid by Iberdrola in January 2009, over the next 18 months.

It says the move was made by Iberdrola in line with its disposal programme of non-core assets.

CEO Brian O'Cathain said, 'We are delighted that the principal shareholders in Petroceltic have expressed their strong support for the company by acquiring the Iberdrola stake at a premium to market.

'Our investors see the considerable latent value in our portfolio, and are committed to working with us to realise the upside value over the coming year, in particular in our Algerian assets where our recent drilling campaign has demonstrated the presence of a very large gas accumulation capable of flowing at rates exceeding 30 mmscf/d per well.'

Glad to hold just over 300k of these. Great news today imho!

now they can choose their partner/s. Many more options for them.

Would guess a major would want a much higher WI than 15%.

lizard Igerdrola had an option to increase their holdings,so a larger stake for a major would not be a problem.
cyril

yril just pick this up on bb

http://www.iii.co.uk/articles/articledisplay.jsp?section=Markets&article_id=10074834

Mick i'll check it out,but for future ref click the chain link above box,then tempory files,link again and then type in link and you will get the following.
http://www.iii.co.uk/articles/articledisplay.jsp?section=Markets&article_id=10074834

BP,Repsol or CNOOC will want minimum 51% of Isarene,leaving PCI with 24%.

"will want" ?????
they don't want at all - at least for now

Cynic,BP tried to get their mitts on Isarene 4 years back pre drilling and seismics. Dont dismiss plenty of industry interest in Isarene now that it has been proved up. INW results will be another stepping stone here in next week.

do want, will want???? ...... may want if your lucky

Time will tell. If not them there will be others.

objectivity would have phrased it as, "Could well be others in time".

Will have to be others too.

enough - lol!

Petroceltic International plc ('Petroceltic' or the 'Company')
Holding in Compan

The Company received a notification on 19th January 2010 from Capital Research & Management Company (CRMC) stating that CRMC has an interest in and controls the voting rights of 126,160,000 ordinary shares which represents 9.17% per cent* of the Company's issued ordinary share capital. Of this interest, 106,960,000 shares, representing 7.75% of the Company's issued ordinary share capital, are beneficially owned by SMALLCAP World Fund, Inc

* This percentage shareholding is based on a shares in issue figure of 1,376,261,049 ordinary shares.

Dublin: 20th January 2010

CRMC know a good thing!!!

not if they paid 16p!