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

Big Al, didnt tell me about NLR, see you've dipped out of the Xmas do but i'll save your punishment for another day! What's a CGT bill? :>)

Roo - Yes OK, luck played a big part, although im an impatient sorta person and they hadnt been moving much which is why i sold, no other reason!

goal...sorry you took such a hit but good luck with your other interests... perhaps we'll see you back when the time is right :-)

amberjane...head of the game!...great move..we're all learning, some the hard way but that's life :-)

Have followed this with interest, personally i think that when things like this happen (which aint so bad, its just halved not dissapeared without hope) its best not to come onto threads preaching and giving advice on how to proceed whether its sell/hold or add.
Just a quick answer of either i sold myself because......
or i'm holding because......
would be best imo.

I think the problem with most who have posted is how can a share steady c 17p tipped for 25-32p with future potential can suddenly do this crash - Compare this with two minnows, BLR, NOP, currently increasing. Was it over hyping, lack of management skills, - the news wasnt bad, in many ways it was good, oil is there in the drilling area, they ran out of time - the company hasnt changed, investors have put money to what in effect is a going concern. Whether you have made or lost a fortune doesnt matter - the whole thing smells fishy to me... what have the directors of pci with shares done - would be interesting to see?

Traders back in of late inc buyers! b/e @ 9.1 x 55k....

Last chance to buy under 10p some chunkie trades going through. - imho dyor......

m100,good post! goal

M100 - oil is there in the drilling area

Is it? Yes there is some oil but the recent geological inf. didn't look promising for any large quantity to be extractable. Ditto for Oryx, possibly another fractured but tight formation. Hope I'm wrong.

Then there is Algeria, such a hot acreage that only PCI were prepared to bid for it. What's going to happen to the SP if failure at Oryx and a dry hole in Algeria are encountered. How many dry holes have they money for? Who is going to give them any more?

Italy is unknown and might provide the first success, but again 2 out of 3 wells are dry, even given good seismic. As I have found to my cost recently in investing in PCI, PRE and SEY!

Let's be real - this is, and always was a long shot. The gullible amongst us, and I'm one, were conned into thinking that the prospects were much better than they really were. Not for nothing is it called the gamblers share. Anyone buying should mentally write off the money and hope for a pleasant surprise IMO.

Some recovery today and there might be a lift if there is an announcement on Thursday, but then we could be up against the sellers again if we go over 10p. And a look at today trading shows that they haven't gone away. If they can't get a rig PDQ the share price could drift down to 8p as the market loses interest over the next few months.

Just my current thinking.

chianpete...my current thinking.... a drift towards 8p is just not going to happen...it is the SHORTERS AND DERAMPERS who are living in hope that they can make a quick kill(and god didn't they get a bashing today)...

The recovery has began and we will witness further gains in the coming days/weeks to correct the OVER REACTION and ridiculous fall of last Friday...

News will probably arrive sooner than later throwing light on pci's impressive future interests/developments especially algeria and more so Libya next month...

So don't be too disheartened...pci are on the move again at last.

well having got my fingers burnt - am very reluctant to invest more capital in pci to make up the 50% losses and future opps - so they have shot themselves in the foot? - hence my post - eventually it will go back up again no doubt, am sure all will now want hard and fast evidence now not hearsay (viz Big Al comments)

m100..do what ever you feel best...as they say it always pay to dyor...we should all learn from this important lesson...we all new the consequences of playing with a high risk scenario and the reaction to either - or + news. Although a large fall was expected the fact it was totally over-the-top!!...pci will recover and i believe this is already happening...

Although we would of all been mentally and finacially well off had ST gushed oil the fact is ST was only part of the complex pci equation and to rely soley on pci's maiden well as a huge success was perhaps rather foolish...

Pci have excellent potential for 2005...and those holders having quarms with management...not knowing what they're doing etc...only echos the disappointment and perhaps more importantly, the weaknesses and inexperience of the beholder...

and those holders having qualms about management...not knowing what they're doing etc...


That's me alright!

chinapete...if that's the case...stop downing the company because you sound like a bad loser...either stay in or out.

OK - I won't say another word!

rooandu

I feel it's a bit much berating a good previous supporter of PCI, like chinapete, for putting a less than bullish view on the company given recent developments. You might be the arch bull around here, but it doesn't give you the right to turn on others who have "DYOR" and concluded things may not be as rosy as they once were.

BB's are a democracy, you know and to sell is most definitely not a weakness.

Best of luck to you.

big al...perhaps i was touch above the line as i can imagine how chinapete must feel but the incessant 'having a go at the company' is really grating...we have lost and we have to stop dwelling on the past...it's the future that's important...as for turning on others not exactly...when posters on this bb are being bearish, i shall be bullish! (as you say thats democracy)...i would not post my comments on here unless i felt positive about the future...that's my nature...i.e. seeing the positive in the negative rather than the negative in the positive...chinapete has every right to feel hard done by for losing out on pci as many of us have...but it would be unwise not to look at oneself(myself included)and see where all went wrong, learn from our mistakes and sort out the facts from the emotion...all we can do is move on from here and,of course, i wish everyone the very best...but that also goes for pci too and hope they now get the equation right......my belief is they will.

Daily Express

SHARE WHISPER: PETROCELTIC (talking up its Algerian prospects to Irish brokers)

Good luck PCI holders.

thanks seawallwalker...you too.

rooandu - fair do's! ;-))

'Nuff said

Al
;-)