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

my original outlay was about 75% of norm which i felt was more than sufficient for such a diddly company .... if it all comes up rumps then great, but to be greedy with the unknown from the outset would have been lunacy

cynic,it did look too tempting at 2.2p in February though.

bought this crap about 5 years ago......another 2p and i'll be breaking even.

not sure i'll be investing in diddly silly irish companies in future

Why didn't you average down to try & reduce your breakeven point?

i only had quite a small amount in it......and i did this average down on a few of my larger holdings which plummeted from last year which have fortunately rebounded lots this year

Shame, as this one has fortunately turned up trumps, but easy to throw good money after bad sometimes.

Just doing a bit of research as to why the sp went to approx 23p in May 2006 & this seems to be the reason:
"Exploration giant BP and a number of Far Eastern players have held talks with Irish-based Petroceltic about a possible joint venture in Algeria.
Petroceltic has a 75 per cent interest in a 10,800 square km exploration block in Algeria, which includes seven wells that have shown the potential to produce up to 4.7 million cubic feet of natural gas a-day.
BP holds the licence for an area next to the Petroceltic block, and recent reports suggested that it was interested in entering a joint venture with the Irish company on its prospect."
However it seems they ran into difficulties with the Algerian government, but would it be right to now asume that the sp could rise to +/-23p even without the final test results? Although that figure was based on an assumed farm-in agreement with BP, a gas strike would add a positve asset to what was just an original hyped sp.

H,BP walked from those talks and will have competition for buying into PCI or Isarene now....

still think if a significant gas strike is made Iberdrola will make a bid for the remaining 75% of the shares they don't already own.

Iberdrola are at 15% now!

"bought this crap about 5 years ago......another 2p and i'll be breaking even.

not sure i'll be investing in diddly silly irish companies in future "

Presumably some of your larger holdings that also plummeted from last year weren't 'diddly silly irish companies'?

Foit,this is registered in Ireland but not really an Irish co. at all anymore.

I know that BP walked away, h, but the point I was making was the PCI sp rose to 23p on speculation that a major was going to join the fray. Nothing had been drilled or extracted, but the hope was that as BP had ben successful on the adjoining plot, PCI had a good chance of succeeding.
Having exited from GKP far too early, I am keen not to repeat the same error!

Harry then you are in the "all or nothing mode"

diddly irish companies are assuredly a better bet than dubious chinese ones!

Yep. Have cashed in some which I bought at 7p, so am now happy to hold & see what happens to the rest.
I've got far too many stocks atm, including small oilies, which are all now drilling & rising (EME, VOG, PCI, GOO, AST) but can't complain about the rise. Just tricky to pick a realistic exit point!

Youre right there but nothing quite beats a dodgy Nigerian one!

like AFR you mean? ..... if so, not quite fair

AFR are a straight up outfit. PCI boss used be boss there previously.

that is a non seq! ..... btw, i like AFR too and as it stands, they have a much better future than PCI ..... the view on PCI is likely to be adjusted with next announcement