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

ptholden the TA was spot on (post 811), where to from here?
2517

doesn't look good ... down to <10p?

What a buying opportunity here. INW-2 soon too.

Petroceltic International plc
Successful well test at well INW-2 on the Issaouane North West structure,
Isarene Block, Algeria

Petroceltic International plc ("Petroceltic" or "the Company"), the upstream oil
and gas exploration and production company focused on North Africa, and the
Mediterranean, in association with its partner Sonatrach, the Algerian National
Oil & Gas Company is pleased to announce that well testing of the Objective
Devonian F2 formation at well INW-2 has been successful, with a gas well test
rate of 16.7 million standard cubic feet per day ("MMscf/d") (19,740 cubic
metres/hour) with a flowing wellhead pressure of 347.5 PSIG on a 96/64"' choke
setting. This flow rate was achieved without the benefit of fracture
stimulation.

Well INW-2 is the 5th and final well to be drilled on the Isarene permit (Blocks
228 & 229a), in the Illizi basin during the current drilling campaign. The well
was drilled by Petroceltic (75% interest, Operator), in association with the
Algerian oil & gas company Sonatrach (25% Interest), to a total depth of 2124m
in January 2010, targeting the Devonian F2 sands, with the Ordovician formation
as a secondary objective. After the perforation of a 6 metre interval in the
Devonian formation, the following flow rates and Flowing Well Head Pressures
("FWHP") were recorded.

cyril

rather to my surprise, this morning's rns has been greeted with a big yawn and minimal buying interest

New article and analysis, click HERE

Perhaps too many possibles, potentials, did not encounter in this RNS:

Testing and sampling operations at the INW-2 well have now finished and the well has been completed for possible future use as a production well. The secondary Ordovician objective did not encounter any reservoirs with effective permeability at this location. The Issaouane North West structure is the fourth separate structure to be tested at a potentially commercial rate by Petroceltic on the Isarene permit

Watch this space amigos!

for rabbits, hot air or something genuinely significant?

Pete Holden some old friends from SEO, I.Balchin and the White family are
now into Fuel Cell Technology with AFC Energy(AFC)doing very well and a bit of a darling with the market.Looks promising and worth checking out i'd be interesred ro know your thoughts as, i found him(IB) a bit slippery? .
cyril
ps. their is an AFC thread running.

cynic departure of Iberdrola probably suggests the game is up for now.

anyone who thought SEO was stock of the century, or even of the week, is probably best not followed

Note out today from Mirabaud :
"Following the withdrawal of Iberdrola last month, we understand that Petroceltic has written to Sonatrach to request permission to show data to third party operators, with the intention of seeking a new partner for its Algerian licence. Given the successful results of the recent drilling programme, we believe that there will be significant industry interest in the asset and fully expect management to deliver a less dilutive transaction than the one tabled by Iberdrola. However, it may take up to 9 months to complete and, until then, Petroceltic will have to fund 75% of all licence expenditures. Petroceltic has written to the authorities to request a two year extension on the Isarene PSC, moving the licence into the delineation phase. We expect the company to announce the completion of this process during Q2, together with a work programme on the licence, which will provide further clarity on future funding commitments.

Elsewhere, drilling activity is approaching on the Ksar Hadada licence in Tunisia,
which was farmed out to PetroAsian Energy in June last year. Under the terms of the deal, Petroceltic is carried for all costs associated with a seismic survey and two wells the first of which is scheduled to spud in the summer. In Italy, meanwhile, Petroceltic continues to push for a farm out deal on the Elsa prospect, after gaining operational control of the licence from its partner late last year.

Petroceltic International has reported encouraging test results from the last well in its five well drilling campaign on the Isarene Permit in eastern Algeria. The INW-2 appraisal well located on the low-impact Issaouane North West (INW) accumulation within the ISAS appraisal area has tested 16.7 mmscf/d of gas from the Devonian F2 zone before fracture stimulation. While the result is a welcome de-risking event, the valuation impact is offset by the decision to revise our recoverable resources estimates for the wider ISAS appraisal area, largely as a result of recent data gathering by the company. With the current phase of drilling now complete, we also reflect on the highs and lows of the Algerian campaign and take a brief look at what lies ahead.
Overall, we reiterate our BUY recommendation, with a revised target price of 29p/shr."

long time span i reckon to get anywhere near TP

All will come to he who waits....... if you can live that long...

in my case, prob not

looks like all todays gains have been lost along the way...

cynic, "anyone who thought SEO was stock of the century, or even of the week, is probably best not followed"

Not the best stock in the end but they had a potential opportunity which they cocked up but in the meantime HW sold a good story and to be honest SEO made me alot of money, much more than I ever invested on the stock market initially and having bought at 4-6p and sold in the 20-25p for a tidy profit I took out my original investment and am still playing with effectively free money on the stock market. I guess its all in the timing of buying/selling and I am still looking forward to my next Stanelco in terms of profit making only.

My hopes are pinned on CHL, in the meantime I hope in and out of some others, sometimes winning, sometimes losing but PCI is on my list to watch and nothing more at the moment as they need a partner or funding.

thank goodness you were one of the seemingly few who had the sense to bank his profits in SEO

in last weeks share mag in a piece on PCI. shares mag reckons there is a rumour of a bid for PCI???
here today i read "permisson to show data to 3rd party operator"!!!