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

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.

Does anybody understand the statement?

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!!

Total buys are now in balance with total sells.
Still, as long as the MMs are having fun eh?

That they are!

P

scatalogical onanists springs to mind..

So does Fred Elliott..... Mucky end of't stick, I say mucky end of't stick!!!!

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

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!

Anyway it's fun!

LOL
ROFLMAO

Got stopped out earlier, not the best of days!!

Announcement is on their website now.

P

amber - I'm glad you didn't add!!!!!!! ;-)))

On the plus front, I too read the thing and did conclude it was not necessarily a bad well. It notes that this formation produces following a frac job and that hasn't happened due to timeconstraints on the release of the rig. Having said that, and working in the business, I'm amazed they went ahead with a test without doing what was required. It seems a bit incompetent IMO.

Anyway, hefty 4-figure loss for me and out. Such is life in the markets!

Al
;-)

Big Al Anyway, hefty 4-figure loss for me and out. Such is life in the markets!

Why go out. The intitutional selling should stop now, at least for those who bought at 13p. Don't you think there will be a gradual rise in the New Year? And certainly a rise on the next drill, although I don't think we will see 18p again, short of a find.

Because no one can see into the future, have a look at the last week for PRE hoders, same dramatic drop after poor drilling news, 24p to todays 14p.

With such a drop who would hold PCI now in the same circumstances?

Yes, both stocks can recover, but when?

I can not see into the future but I do predict that the price will worsen over the next few days.

There may be shows of oil and gas in this drill, but PRE had some gas too and it has made no immediate difference.

I am sorry this has happened, but that is the risk all holders of these stocks take, the rewards can be big and so can the losses when it goes wrong.

Every person makes their own decision as to what is right for them, buy, sell or hold.

chinapete, I respect your view, but I would not hold, that would be the right decision for me.

(I did hold but lost my bottle some while back, I predicted this could happen).

As I said this is aweful for holders and you have my thoughts today.

It could have been me!

as far as I see it.... Algeria has confirmed assets of 380bcf and 28mboe, so with a present mkt cap of 50m, the other "plays" are in for nothing

SWW Thanks for your condolences! You are a nice guy.

Any recovery above 10p and I might consider selling some, using the gains from this mornings buy to reduce my loss. I too thought this could happen, but had decided to risk the loss because of the upside, and to use this as a buying opportunity if they bombed. The downside is being locked in for up to six months. Today will be turmoil with all the shorters etc sorting themselves out, and as you say it may get worse before it gets better.

A week is a long time on the stock exchange, who knows what the next few days will bring, as people realise that PCI has other prospects, and the money to pursue them.

Fair enough

cpete - agree why get out now with a massive loss - leave it six months for when they do the next drills they were talking about, will move back gradually to c 18ish,or more when they find oil and I can break even at least. Some good news later on and everyone will forget about today.

m100 "c 18ish"

I wouldn't be so bullish. It will be a long time before we all get confidence back IMO. I've got 13p as a target for the New Year, ie the figure that a lot of the institutional buying took place at. But we are all in uncharted waters now.

At least the 100k/200k seller should now be discouraged as well. Suspect that he was taking a profit on a 13p bulk buy.

From what I remember from earlier in the year, some Institutions were buying at circa 17p, when the price first shot up towards 20p. They must be down as well. so the news isn't all bad!

A Merry Christmas to all our readers. The chinapete household will now be tucking into an oven ready budgie on Christmas day.