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

Rooandu, I'm in with 20k and at the moment staring at a nice loss on the latest purchase, although I am up overall because of trading. However, I reason that at some point in the next 3 weeks they will move up from their present disappointing position. I am betting on some kind of oil show because of previous history and a jump in price on completion of the drilling, even if there is not a lot of oil. At that moment I may top slice and leave half in long term. Unless, of course, there really is a lot of oil. When will we be sure I wonder?

I get the impression that if a few drops of oil drip from the sump of one of their trucks, PCI will announce a strike!

chinapete...i can understand view points/pressures from both camps...those currently sitting on a loss or profit...as for the amount of oil...know one knows it but pci have assured us the conditions are right...evidence has been previously found so there's a good chance of locating a sizeable amount (pci quote "over 400 mb recoverable")...my confidence in management and their trust is also driven by faith, faith that we will win in the end :-) ps......would seem sensible to top slice post a good rise and look to the long term.

well, looking at others in the sector - a few seem to have delayed drilling due to rigs being busy elsewhere - so whats a few weeks between friends?
since its been pushed down again today with the moaning minnies, ..get out again and sell with a loss (panicked before, then it shot up again a week later) or like cp and roo hold in there - looking back through my posts must be psychic - I would suspect pci will now only release news when something factual (viz - my dragnet post maam) actually occurs. Someone is going to make a pile then, we sit and wait...

Of course, they may be drilling right now. The first we may hear of it is a result. Immediately prior to the PRE Bolivian gas strike there was a big buy - the news had leaked and some bugger made a pile. We should watch the purchases/sells like a hawk in a couple of weeks time in case there is another leak. Probably teaching my grannie to suck eggs, but it's easy to forget to do the obvious! Could be an indicator to buy or dump.

I wish I could free up some money to get into Crest Nicholson (CRST). Feel sure that its only a matter of time before Heron makes a bid.

probably are ... are we able to monitor the directors dealings in their own shares?

Bought a few more

Big Al

Possibly a shrewd move. Have you had a look at the trades this p.m? Those below are jolly encouraging I think, especially the two post trading..

Time Price Bid Ask Volume Block Price B/S Type
17:26:07 16.75p 16.25p 17p 400,000 67,000 BUY O
17:25:07 16.75p 16.25p 17p 687,500 115,156 BUY O
16:09:32 16.5p 16p 16.75p 500,000 82,500 BUY O
15:39:43 16.5p 16p 16.75p 500,000 82,500 BUY O
15:29:42 16.5p 16p 16.75p 750,000 123,750 BUY O

This is not insignificant money! Someone knows something I reckon and this could be the start of what we have been waiting for. I know that there are a few who think that the sp will drop to 14p. I'm a bit sceptical about that in the light of the deals above. I think tomorrow could be exciting. RNS tomorrow/Monday?
If we don't start tomorrow in the blue I'll eat my monitor.
Any other comments?

Best wishes all!

Salkedjp...the sp falling to 14p esp with current sit ref ST drilling??!!...i'm sure many not yet in or who have been in and out would love to see it fall only to get back on the bandwagon again... wishful thinking...it won't happen.

SALKELDJP

I noticed the bid has not moved below 16p in the past fortnight. Watched, waited and took some as soon as it moved up. Also saw the big trades.

We had a lovely hammer on bigger than average volume over the day, which is what I like to see. Only 25k, but adds to my current holding quite nicely.

Over a wider timeframe, we've lengthened the consolidation period at a slightly higher base level now. In addition, they must be getting through the well. ;-))

All we need now is the thing to be dripping with it..............but no-one can predict that!

For reference if it all goes wrong, check out MRS this past few weeks and have a plan.

Al
;-)

Looks like a well timed buy Big Al. Don't know anything really about hammers, but do like the sound of the hammer you mentioned! Maybe I should learn about these hammers! Also some decent volume yesterday. Maybe they're hammering through that Tunisian ground at a good pace! :-)

http://www.petroceltic.ie/pc/operations.php3

picture of the ST well, but not soon enough to save the share price unfortunately.

http://www.davy.ie/other/email/petrocr20040121.pdf

http://www.uk-wire.com/cgi-bin/articles/200411080700079480E.html


Petroceltic International PLC
08 November 2004

Drilling Commences at Petroceltic Operated
Sidi Toui 3 in southern Tunisia


Petroceltic International plc ('Petroceltic'), the AIM listed oil and gas
exploration company, is pleased to announce that drilling operations have
commenced at the Sidi Toui 3 well in the Ksar Hadada PSC contract area in
Southern Tunisia. The well was spudded using the Chinese Great Wall rig 92 on
Friday November 5th 2004.


The primary objective of the well is to establish conclusively the presence of
hydrocarbons in the Ordovician to Cambrian Hamra Quartzite formation near the
structural crest of the large Sidi Toui structure. The current well is
projected to be up dip from where oil and gas were encountered at the Sidi Toui
1 well drilled by Serept in 1958. Petroceltic's geological advisers have
estimated potential oil reserves for the Sidi Toui 3 well structure of 400
million barrels.


Sidi Toui 3 will be drilled to a measured total depth of approximately 1,300
metres when it will be flow tested and logged. Drilling, including casing,
testing and logging is expected to take approximately 4 weeks with results
therefore due in early December, at which time a further announcement will be
made.


Photographs of the well location and the Great Wall drilling rig at the Sidi
Toui 3 well location can be viewed via the home page of the Petroceltic website,
www. Petroceltic.com. It is planned to post more pictures of the operation on
the website during the coming weeks.


Also available on the Petroceltic website is a research report by London
Stockbroker Evolution Securities. This contains details of all Petroceltic's
oil and gas interests in Tunisia, Algeria, Italy and Ireland.


Ends


See
www.petroceltic.com

Hurrah!! so we shall see an upswing on this news? 19p perhaps?

So we'll know before Christmas what the overall picture is. Hope Santa's good to us all!

gav...early dec looks like d day...good luck to all...hope we get the xmas present we've all been looking for :-)

However, i guess the mm's will be playing with the sp for a couple more weeks or so, i hope i'm very wrong as I think it's about time we witnessed a more accurate reflection of pci's true worth.......but there will come a time when the mm's have to just let this go and then we're up and away!! :-)

Evolution securities reiterates its buy reccommendation today and a 32p price target.

regards bowman

wheres that buy recomm note? can u post it pls bowman. xm

Xmortal,

You can find the doc on the www.petroceltic.com website under Investor Relations (Evolution Research Note.pdf).
Rather than post everything, here is the conclusion:

Conclusion
Petroceltic has rapidly built up an attractive exploration portfolio, which over the next 12-18m has several opportunities to dramatically increase the reserve base and therefore the asset value of the company. This should lead to substantial share price appreciation. We set a conservative 3 month price target of 32p/share reflecting only the risked exploration potential of the Tunisian well as well as the core value.

(Lets hope tomorrow is a more positive day for the sp!)
happy reading!