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

Two rather large buys just gone through @ 11.5
2517

One of 'Shares' Plays this week suggesting that it will at least reach it's Algerian asset value of 19p (House broker valuation).
2517

StockMarketWire.com
Dublin-based oil and gas company Petroceltic International reported a first-half loss of $4.9m, up from $2.1m, which it said was mainly due to a $2.4m drop in finance income.

Revenue for the six months to June was $0.119m, against the previous $0.125m.

Administrative expenses rose to $3.17m from $2.83m.

Finance income was a negative $0.86m, against a positive $1.55m last year. This was due to a $0.9m loss on unrealised foreign exchange movements on funds raised in sterling.

During the period the group raised $115m net via a placing to fund the 2010 work programmes in Algeria and Italy. Cash was $108m with no bank debt.

Petroceltic said the first half was focused on completion of its Algerian and Tunisian work programmes, along with securing the offshore Italian B.R268.RG permit equity and operatorship with farm-out and financing arrangements for the Elsa-2 well.

A successful five-well Algerian drilling and testing programme was completed in February, with a major gas condensate discovery made at Ain Tsila.

CEO Brian O'Cathain said, 'We are focused on the exploitation of our valuable Algerian discovery first and foremost and we remain confident that the appraisal programme for the Ain Tsila gas condensate field, due to start in October 2010, will further de-risk and demonstrate the value of this important asset.

'We are also exploring opportunities to expand our portfolio into areas that exploit our competencies in exploration, deal-making and operating in challenging environments.'

Kurdistan production buy back on agenda.

perhaps interesting, though we see this sort of thing from time to time and it goes nowhere - 3x usual volume here today and sp + nearly 10%

I've noticed that it has been trying to break out from the 11.5p range for a couple of weeks. I'm sure it will go, tis just a matter of time when.

i'm not very convinced by this company, but am disinclined to crystalise the modest loss still showing ..... i'll keep my fingers crossed; safer than holding breath

Likewise

Let's hope for a break through 200 DMA.

Drill RNS in next 5 days

would be nice if they discovered other than sand

and again very heavy volume indeed

Petroceltic are about to start in Algeria again and also farm in worth some hundreds of millions. They are also going into the rich fields of Kurdistan I believe. Cheap at 11p.

But what about this Tunisia drill?

So, Scottish Widows have bought another 40 million shares then

Tis good news too but with Tunisia,Algeria and Kurdistan news before end of month too.

Goon on IRG III thread says they are drafting RNS currently. Will we be quaffing Bolly at brekkie time manana????

only to drown sorrows on past record

Is this going to come right at long last ?.....18 months ago :..I would have thought that this would be at least 2 to 3 times the present sp.....

well i'm having some bubbles tonight anyway as i need a bit of cheering after a pretty shitty day on the markets - c'est la vie! it's been a good and strong run and couldn't continue indefinitely ..... NY's looking pretty dodgy too

Sorry to hear that Cynic. Had a reasonably good day on SOLA & FENR. Banked some good profits, but about bloo*y time PCI delivered some good news. Can't hang on to these forever!