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

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

Nice trading pickup today. Are we about to get an Operations Update?

two big lumps went through "off screen" (between brokers?) late in day of 1.7m and 1m at barely below 13.0 ..... arguably interesting

further, norm daily volume is 4m, but today was 10m .... again, interesting though not necessarily of importance

04.03.10 - Petroceltic International plc is pleased to issue an operational update on its activities in Algeria, Tunisia and Italy.

Highlights;
Algeria - Isarene Permit
Successful 2009 drilling programme with major new gas condensate discovery.

Second exploration phase now completed

Appraisal phase to commence in Q2 2010

Italy - BR.268 RG Permit
Assumed operatorship of the B.R268.RG Permit

2010 drilling programme on Elsa-2 to commence in Q3 2010

Tunisia - Ksar Hadada
New 2D seismic completed

2010 two well drilling programme to commence in June 2010"

http://moneyam.uk-wire.com/cgi-bin/articles/201003040700130609I.html

6 wells to come here in next 9 months.