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

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!

From Business World ie:

Petroceltic starts Tunisian drilling
Monday, November 08 09:12:11

(BizWorld)

Irish oil and gas exploration firm, Petroceltic, today said drilling operations have commenced at the Sidi Toui 3 well in the Ksar Hadada PSC contract area in Southern Tunisia.

The AIM listed company said the well was "spudded" using the Chinese Great Wall rig 92 on Friday Nov 5.
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.


Petroceltic said drilling, including casing, testing and logging is expected to take approximately four weeks with results therefore due in early December, at which time a further announcement will be made.

given the above statements - why is the price fiddling about at 16.5??
if the target is 32p in 3 months we should be around the 20-25p mark now waiting succesful news in Dec, when it should pick up another 5-10p?

A few investors will get out and then back in before the announcement in about two weeks hence the drop in price.

Usual story. Why should the MMs pay more for loose stock from distressed sellers? Would you? Surely nobody would be opening a fresh position now when news - either good or bad - is so close. That would be gambling and not investing.

pondlife...well they did on several occasions over the past few months so why not again??...keep positive, ride this out and we'll get there in the end...good luck to all as always :-)

Rooandu - I am always positive - I hold BUR (aaaargh) and a large dollop of SEY that I bought in haste at 20.5p - top of the shop! I am riding out quite a few positions at present.
Travelling hopefully as always. Dreams of instant riches beyond the dreams of avarice temporarily suspended.

Can't say I've been overly impressed by the price movement this past couple of days, but am intrigued by the announcement of the spud.

1300m to drill and a total of 4 weeks to complete everything including logging and testing. My guess is news might therefore start to leak during the third week, i.e. when they TD and start logging.

Big Al - no neither have us all been impresed - still its back in the right direction now

m100 - my only worry is if the support of the past 2-3 months is broken and only bad news is likely to do that IMO. I've said that before, so it's nothing new!!

Morning All, fyi they have added a new picture to their website showing the rig actually drilling as of Nov 6th.

P

P - thnx, theres gold in them thar hills! (okay - oil) - yes drilling shafts in place, looks like they mean business! Big Al - yes agree, however, been with this off and on for a while, long term still think they have a solid future.

good morning all.......should see some action this week with the build up to drilling progress/results in a couple or so weeks time..........good luck :-)

We are up & running again

so 20p+ by xmas lots of buys in there - anyone lend me some dosh?

Could be 30/60p if thay find any thing or 12/14p if thay do not in my opinion.goal.