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

I have invested a little more here. This is a very attractive price, and considering they will be drilling the very large gas discovery in Algeria soon.

StockMarketWire.com
Petroceltic International has signed a contract for drilling rig services with Dalma Energy, a Dubai based drilling contractor.

The four well drilling and testing programme will focus on appraising the gas discoveries made on the Isarene permit by Petroceltic during 2009/10. This programme is fully funded following the US$120 million equity placing completed in April 2010.

CEO Brian O'Cathain says: "Securing this rig is a significant step towards re-starting drilling operations on the Isarene permit. We expect to drill a minimum of four appraisal wells including at least one horizontal well. Drilling operations are scheduled to start in October 2010, as originally planned, with a view to the submission of a development plan (Final Discovery Report) to the Algerian Authorities at the end of this appraisal campaign.

"Our interpretation and analysis of the results from the five well programme in 2009/10 is progressing, supporting our belief that the Ain Tsila gas condensate discovery, on the Isarene permit, may turn out to be a world class hydrocarbon resource. "

Ship has steadied. Looking forward to a wee bit of Tunisan delight soon here too.

chart looks pretty hopeless.

You beat me to it!!! I was about to say that 'maybe, briefly, the chart has stopped it's terminal decline?'

Sucess in Tunisia and Algeria will sort out the stagnant sp here.

so would manna from heaven, but uncertain which is the more likely

once again the only people making money are those owning the drilling equipment.

StockMarketWire.com
"Petroceltic fails to find significant oil in Tunisia"
Petroceltic International plc, announces that the Oryx-1 exploration well, on the Ksar Hadada Permit in Tunisia, has reached its total depth at 1140m.

Although oil shows were encountered in both the upper and lower Ordovician reservoir units, log analysis indicates that no significant oil saturation is present in these reservoirs at this location. The Oryx-1 well has been drilled substantially under budget and without incident.

The well will now be plugged and abandoned, without testing, and the CTF Rig 06 will be moved to commence drilling of Sidi Toui-4."

Hope 2nd Tunisian leg goes better...

broker says a rumor of a predator has now entered the ring

One of those shares i wish i didn't have....ah well.

That explains why it's doing so well then.
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lol....got to blame niceonecyril followed his lead at 18p.......only joking cyril.,.

bb, I was referring to the post by steelballs, not criticising your stockpicking abilities, I have these @ 11p second time of holding, looks like I'll be giving back the profit I made first time. good luck
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Decent volume today.
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One of my sleepers.....woken up,.. this....have not been following....

My friend likes these.

I have some catching up to do with the rns's on this.....

Just had a look...: there aren't any.....