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

eddie...i guess we could all see what the last candle would look like!..pci will recover as Friday's panic was an over reaction (but was expected considering the months of expectations built up)...many thought it had to be positive news (including myself) so pretty understandable that many punters in for a quick buck rushed for the door...i guess the bigger guys (instns) know the future potential pci holds and they'll no doubt be picking up the pieces and this bargin price...but anything could happen and know one knows...only if we had.

Eddie - My own view of charts is that they are pseudo-science and rather less useful than examining the entrails of a ritually sacrificed goat. But don't let me put you off, my own methods aren't working very well at the moment.

Could go either way tomorrow - which isn't much help. Any buying at the start might start a little rally, but I'm not expecting much. IMO more losses and a gradual drift down more likely. Also expect the big buyers to hold off until they are sure it has bottomed.

Resigned to being in them up to the hilt for months, but a recovery to 13p might be on the cards over time, in which case old china gracefully takes his money and puts it into something safer, like a company trying to open a chain of off-licences in Saudi Arabia, having learned yet another lesson the hard way.

chinapete - learn the lesson! It'll make you better! ;-))

eddie - most traders would take that chart as an out-and-out short!

My two penneth is that Big Al is right and I think there is still further to fall before consolidation and eventual a rise.

so whats the call? -looks like most are in at 17p, settling around 9ish, so buy and hold till the next well, rise within within next 6 months?

Your call m100.

No one can put a time on any stock rising again. It may not rise.

"It may not rise."

The history of most stocks crashing is of a 50% recovery but not necessarily immediately. It works over and over again. But the problem here is confidence. The management won't be so readily believed in future - 50% of success,free oil, 400m barrels, so good we are going it alone etc. and all the other Oirish Blarney.

But I would have thought that a buy at 9p would be fairly a safe bet if it were not for the unknown behaviour of the institutions, who screwed us up last week and stopped the rise to 20p which we all expected. If any of them start offloading to cut losses or because they are still in profit we are up sh**ts creek, or at best locked in the 9/10p range watching another load of 100/250k sells going through. Best left alone for the moment IMO.

Just my current thinking. Time will tell.

Now looks like 10p is a barrier. 0936 hrs.

Im sell at 9.5.

And everyone waiting to see how low they will go!

BLR is drilling today

The 9.1 trades are BUYS. inc the 55k!

As I said, it may not rise.

Am disappointed to see 9p support fail lat on today. Keeping an eye and expecting 7-8p short-term. I'd possibly buy again at 7p, but if that goes then I'd expect 4p thereafter.

Best of luck, folks.

big al...wishful thinking...looking to buy some more perhaps??? what a load of botox...do you ever give up??...i expect a recovery sometime this week now the dust has settled from the ridiculous over reation last friday...can see us back to the 10 - 11p range pretty soon...but as they say dyor!

Cant get my head around the price, every time it went above 17p there were big sellers as if some one knew what the outcome would be.

rooandu - I said quite a while ago that if things turned sour we'd likely see 8p.

Wasn't far off! ;-)))))))

goal...looks like some probably did hence the price stuck at 16-17p range...but ST is only part of the equation and there's more important developments ahead...the sooner pci release details on their algeria interests and others...then confidence will be quickly restored.

Shorting of this share is rife at the mo with claims the sp is going to fall even further...genuine holders would be expressing a positive outlook and certainly inclined to talk the price up rather than down...

big al...agree...but then that was the high risk of this play...a jolt to 8p does not suprise me with all the hype over the last few months and failure to fulfil peoples bloated expectations...however, i can't see this falling any further and a recovery whether you like it or not is on the cards...ah, and i nearly forgot, i don't like know alls and in my experience, they're rarely always right ;-)

ROFLMAO!

Whatever cooks your goose. ;-)

Good on you Al, respect for admitting you took a hit, not many own up to that! Havnt lost much as had sold most of mine and hadnt got back in but it will be a stock i play again, I remember buying at 2p the first time!

amber - I got suckered into believing they'd definitely hit something, but such is life. Reduces the CGT bill anyway.......


...........unless I make it back. Fortunately, NLR was a big help today. LOL!