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

Unless, of course, that spurious rumour from FT/Alphaville of a bid approach comes true imminently. ;o)

If a bid is coming soon nobody told Iberdrola.

chuckle, chuckle!

Iberdrola have bigger fish to fry.

so why did they buy 20%+ of PCI in the first place, have they had second thoughts after recent drilling results or did they just want to take their profit before it evaporated.

Or maybe they think a bid approach is more likely to be an equity deal rather than cash.

Who knows what Iberdrola were up to at all. PCI now have 75% of Isarene again and it's all to play for.

This is your baby Cyril, haven't seen you on here for a while, are you still in?

He'll be back and he wont be alone in that pursuit.

ptholden the TA was spot on (post 811), where to from here?
2517

doesn't look good ... down to <10p?

What a buying opportunity here. INW-2 soon too.

Petroceltic International plc
Successful well test at well INW-2 on the Issaouane North West structure,
Isarene Block, Algeria

Petroceltic International plc ("Petroceltic" or "the Company"), the upstream oil
and gas exploration and production company focused on North Africa, and the
Mediterranean, in association with its partner Sonatrach, the Algerian National
Oil & Gas Company is pleased to announce that well testing of the Objective
Devonian F2 formation at well INW-2 has been successful, with a gas well test
rate of 16.7 million standard cubic feet per day ("MMscf/d") (19,740 cubic
metres/hour) with a flowing wellhead pressure of 347.5 PSIG on a 96/64"' choke
setting. This flow rate was achieved without the benefit of fracture
stimulation.

Well INW-2 is the 5th and final well to be drilled on the Isarene permit (Blocks
228 & 229a), in the Illizi basin during the current drilling campaign. The well
was drilled by Petroceltic (75% interest, Operator), in association with the
Algerian oil & gas company Sonatrach (25% Interest), to a total depth of 2124m
in January 2010, targeting the Devonian F2 sands, with the Ordovician formation
as a secondary objective. After the perforation of a 6 metre interval in the
Devonian formation, the following flow rates and Flowing Well Head Pressures
("FWHP") were recorded.

cyril

rather to my surprise, this morning's rns has been greeted with a big yawn and minimal buying interest

New article and analysis, click HERE

Perhaps too many possibles, potentials, did not encounter in this RNS:

Testing and sampling operations at the INW-2 well have now finished and the well has been completed for possible future use as a production well. The secondary Ordovician objective did not encounter any reservoirs with effective permeability at this location. The Issaouane North West structure is the fourth separate structure to be tested at a potentially commercial rate by Petroceltic on the Isarene permit

Watch this space amigos!

for rabbits, hot air or something genuinely significant?

Pete Holden some old friends from SEO, I.Balchin and the White family are
now into Fuel Cell Technology with AFC Energy(AFC)doing very well and a bit of a darling with the market.Looks promising and worth checking out i'd be interesred ro know your thoughts as, i found him(IB) a bit slippery? .
cyril
ps. their is an AFC thread running.

cynic departure of Iberdrola probably suggests the game is up for now.