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

It's not unusual when I purchase stock for the sp to fall, infact it's quite the norm really, but happy with an entry point of 11.5p.
2517

Cynic,tis cheap as chips now.

arguably so, and it is clearly well out of fashion ..... for myself, i bit the bullet a week or so back ..... though i may get back in at some point, i can't see any urgency to do so at the moment, for i do not recollect any news being imminent

didn't you hear?

what? ....the pitter patter of tiny elephant feet?

He's a Lizard.....not an elephant.....from Emu.

BP know an Elephant and they want this one but the Russians are not for playing dead!!!

cynic- obviously not

lizard,this market will correct slowly. This is a big gas find but independent reserves report is needed first.

i am sure i shall be buying back here in due course

Wont be the only one either. Cove rocking today. Our old pal Craven will be dancing on his wallet...

The time to buy is when there is no news. Lots to happen soon here which includes Italy and Tunisia. A partner for the giant gas field will happen soon too, also expecting an independent estimate of volume for Isarene. Don't buy when the news comes in, buy now (if you are intending to) 12.5p cheap as chips. I have 750k holding.

Sudden flurry of buying.
2517

No idea why!

mm's propping up the sp which has been heading down towards 10p?

takeover rumours mentioned in the times. won't hold my breath but you never know?

there is certainly a lot of oilfield development due in algeria from Q3, but whether or not it has anything at all to do with this little bunch, i do not know at the moment

Just to confirm that it is only rumour at present:
business.timesonline.co.uk (27.02.10)

"Petroceltic was chased p higher to 12p amid reheated speculation that a bigger oil and gas company is mulling over a bid. One name in the frame was Sonatrach, the Algerian state oil company. Another was BG Group, formerly part of British Gas. Iberdrola, of Spain, sold its 15.7 per cent stake in the Dublin-based Petroceltic for 34.5 million in January."

2 Tunisian drills (freecarries) in June and July should help too.

see my post p33
good luck.
regards
jkd