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

are you Mick the Miller's son then? ..... didn't say, but wrote! .... yes indeed; did ok with them before and liked the tone of that rns i mentioned ..... will copy and paste here in a sec

18 December 2006

ISAS 1 (First exploration well which satisfied the PSC obligation)
A total of 1.210 million standard cubic feet per day (mmscf/d) of gas was tested
from 2 geological horizons, the Devonian F2 and the Carboniferous Visean B. Both
had sustained gas flows and stabilised well head pressures. However evaluation
of the test data indicated formation damage at the Devonian F2 horizon, which
severely reduced the flow rate during this test. In addition small amounts of
gas were produced from an open hole test in the Ordovician.



Hassi Tab Tab 2 (Located 40 kms west of ISAS 1)
A total of 15.44 mmscf/d of gas was tested from 3 geological horizons, the
Devonian F2, the Carboniferous Tournaisian and the Carboniferous Visean B. All
had substantial flows and stabilised well head pressures.


In accordance with the provisions of the PSC, a Declaration of Discovery for
both wells has been submitted to Sonatrach. Petroceltic will provide updates regarding progress on this issue in due course.

'This is very significant news for Petroceltic and I am extremely pleased with
the well test results. In particular the gas flow rate from the Devonian F2 in
HTT 2 is one of the highest for this horizon in the Illizi Basin.'

'Furthermore, the well results have confirmed the potential for commercial
exploitation of these shallow, laterally extensive, hydrocarbon reservoirs in
this part of the Isarene Permit and we are currently reviewing all options with
respect to the appraisal and development of the ISAS/Hassi Tab Tab area.'

===================

as December 18 was last update, you can see why i drew my conclusion

23p/25p next week what do you say old boy

i say, "No idea" ..... if I was that clever, i would have bought a lot more if i could have got them ..... as it is have currently secured about 50% of my norm and looking for only a further 20%, so not sticking my neck out fearlessly

as 1 year chart below shows, 17p could prove to be a bity sticky .....

152 million shares traded the other day.................thats why!!!!!!!!!!!!

sit back and enjoy as tomorow will be above 17p i state your reparation on it.old boy

or do you mean 15.2m? .... either way, sort of so what other than much interest

i;v just topped up again

not on the basis of what i wrote i hope (says cynic, sucking his teeth)

never did get those extra shares (paid 16.2) .... but never mind as if share is right, then it's one i would not have thought of buying if you (micky) had not askde me to look .... and if the call is wrong, then my exposure is less!

Cynic , welcome to pci . Was it 100 shares you got !

yup! .... didn't want to overextend myself

by the way, you can see pix of this strange Calloway driver I shall try out tomorrow on Calloway site .... very strange looking beast

most uninspiring performance since i allowed myself to get suckered into this one

cynic this will come good end of march or April 1th............lol

assume you mean 1st April, which is somewhat worrying

as aways cynic yes Y/R and they were my through but they have to come out with some good news soon

Cash of approximately $30 million post 2006 drilling with no debt.



John Craven CEO of Petroceltic said:

"The drilling success in 2006 confirms the potential of our Isarene block in Algeria. These HTT 2 and Isas 1 discoveries have added significant value to the Isarene Permit and are the platform on which to drive our Algerian business forward towards commercial exploitation. In particular, we are looking forward to commencing seismic and drilling activities at our largest prospect, the Ain Tsila Ridge. Our planned drilling program for 2007 into 2008 reflects the significant potential across our asset portfolio. With our robust balance sheet, Petroceltic is well positioned to create value for shareholders over the coming months."

red = 50 dma
green = 200 dma

a pretty uninspiring performance of late ...... was tempted to sell but note there should be good support at this sort of level

speak up all you fans of PCI ...... give me at least one good reason why these shares are worth keeping

'Cos of the potential in Algeria:

"Commenting on the well results John Craven CEO of Petroceltic said I am encouraged by the results of ISAS-1, our first exploration well in Algeria. The presence of gas at three separate stratigraphic levels confirms our view of the multi zone prospectivity of the Isarene permit and the exploration potential of this area of the Illizi Basin.

Same with any exploration stock, may produce good results, but if you are not in it, you can't win it!