inbs
- 23 Dec 2003 22:02
New Projects and good prospects. will be the winner in 2004. IMO
25p in early 2004
goal
- 01 Dec 2004 11:16
- 912 of 1258
If we can get pass 18p, it should rise from there on,I am disappointed that we are not around the 25p at this stage.goal.
seawallwalker
- 03 Dec 2004 08:53
- 913 of 1258
Petroceltic International PLC
03 December 2004
PETROCELTIC INTERNATIONAL PLC ('Petroceltic')
3rd December 2004
Tunisia - Sidi Toui 3 Well Update - Future Plans
Petroceltic operated well Sidi Toui 3 in the Ksar Hadada block has been drilled
to a total measured depth of 1300 meters, logged and tested. The objective
Ordovician Hamra Quartzite, was encountered at 1023 meters approximately
380meters up dip from the Sidi Toui 1 well located 4.5 kilometers to the east.
Whilst drilling through the Hamra Quartzite oil shows were recorded over a
177meter gross interval from 1023 to total depth at 1300 meters. . Casing was
set above the Quartzite to facilitate a short duration open hole test which
commenced on the evening of 2 December, 2004 during which hydrocarbons were not
recovered.
The Ordovician Hamra Quartzite, when fractured, is a significant hydrocarbon
producer in Libya, Algeria and Tunisia.
Oil and gas shows were also encountered at a shallower depth over an interval
from 835 to 900meters. However, it was not possible to test this zone, which is
behind casing, at this time due to a commitment to release the rig to another
oil company after conducting one test.
The well is to be suspended pending further evaluation and/or testing in order
to assess the future potential of the Sidi Toui structure.
Oryx Prospect
Acquisition of new seismic over this prospect is expected to commence next
month. This data will be acquired at no cost to Petroceltic and will be used to
determine a well location on this prospect
John Craven CEO of Petroceltic commented, 'The oil and gas shows in Sidi Toui 3
give us confidence that there is working petroleum system in the southern part
of our Ksar Hadada block. In this area there are some very large structures
including Sidi Toui and Oryx. During the coming weeks we will be evaluating all
the data from Sidi Toui 3 and the new seismic from Oryx to plan our future
drilling campaign in this large block.'
Further Information
Petroceltic has a 100% working interest in the 7, 500 square kilometre Ksar
Hadada Block in southern Tunisia, which contains a number of leads and
prospects. Petroceltic also has appraisal and exploration interests in Algeria,
Italy and offshore Ireland and has cash resources going forward of over US$25
million.
Contacts etc
John Craven
Tel +353 1 662 7993
Fax +353 1 6627996
John.craven@petroceltic.ie
seawallwalker
- 03 Dec 2004 09:04
- 914 of 1258
Big Al
- 03 Dec 2004 09:16
- 915 of 1258
OUCH! Out for a good loss.
I did say 8p if it all went t*ts up!
amberjane
- 03 Dec 2004 09:25
- 916 of 1258
Glad i didnt add then Al, maybe time to buy now?
Beasties
- 03 Dec 2004 09:28
- 917 of 1258
Ouch!!
Bailed out (chicken!)
Buyrs coming back in now tho....
m100
- 03 Dec 2004 09:35
- 918 of 1258
excuse me - but doesnt the rns says there is oil and gas there at a certain level - but the drilling rig has had to move on? so its been delayed a bit thats all? why the nose dive?
Parsonsmead
- 03 Dec 2004 09:39
- 919 of 1258
Now that's the way I read it as well. A 177m oil cloumn is not small and it is only because they don't have time to test it (rig moving on etc.) that the sp is getting battered. The good thing is there is oil there but what we all need to know is can it be a viable field. As the RNS says, they only had the chance to do one test, hardly conclusive imho. I'm staying in and topping up.
P
Beasties
- 03 Dec 2004 09:48
- 920 of 1258
Is it not just a fantastic shorting opportunity for those that can?
Report doesn't seem to be bad enough to warrant what's happened to the SP this am IMO.
Kivver
- 03 Dec 2004 09:51
- 921 of 1258
Does anybody understand the statement?
m100
- 03 Dec 2004 09:56
- 922 of 1258
since I am sitting with a wodge at 16ish - I cant!! showing a 40% loss - just a little peeved at the d***head who are manipulating the market - course everyone will buy back in again now - doesnt pay them not too!!
Beasties
- 03 Dec 2004 09:57
- 923 of 1258
Total buys are now in balance with total sells.
Still, as long as the MMs are having fun eh?
Parsonsmead
- 03 Dec 2004 09:57
- 924 of 1258
That they are!
P
m100
- 03 Dec 2004 10:00
- 925 of 1258
scatalogical onanists springs to mind..
Beasties
- 03 Dec 2004 10:04
- 926 of 1258
So does Fred Elliott..... Mucky end of't stick, I say mucky end of't stick!!!!
bowman
- 03 Dec 2004 10:16
- 927 of 1258
ouch ,thats a sickener today from petreceltic, is it the right thing to do going back in when they might drill another part of the block next the Oryx next . If they had struck oil like the company said approx 400 mbo but it didnt so its been punished .Like big al said it would go one way or the other no in between. Thank god i got out on monday. Thanks to Big Al for his wise words. This tunisian block was always high risk, why had no one else picked it up before now ???? Till monday i held 200,ooo .
regards bowman
chinapete
- 03 Dec 2004 10:18
- 928 of 1258
Tripled my stake. Now got 3 shedfuls. If they go to 14p I more than recoup my losses, a chance I'm willing to take.
Thre is a tide in the affairs of men, which taken at the flood etc.
Anyway it's fun!
Beasties
- 03 Dec 2004 10:30
- 929 of 1258
Anyway it's fun!
LOL
ROFLMAO
gavdfc
- 03 Dec 2004 11:29
- 930 of 1258
Got stopped out earlier, not the best of days!!
Parsonsmead
- 03 Dec 2004 11:31
- 931 of 1258
Announcement is on their website now.
P