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Petroceltic Share Discussion Threads
Showing 90851 to 90873 of 90875 messages
|Bill,Only time will tell on that score!|
|is p is investment here a total dead duck or are we likely to get some of our money back|
|Aiminex and T5 bidding ?|
|Production and reserves
In 2014, Petroceltic’s daily production in Egypt averaged 19,256 boepd on a working interest basis, which is equivalent to 8,675 boepd on a net entitlement basis. The working interest production split between hydrocarbon types was 95 MMscfpd of gas and 2,821 bpd liquids (oil, condensate and LPG) representing an 85%/15% split on a volume basis. Approximately 74% of the production was derived from the West Dikirnis, South Damas, and the West and South Khilala fields, with the remainder from eight smaller accumulations.
Throughout 2014, the Company continued to invest in its producing assets with new compression facilities installed at the West Khilala field to maximise gas recovery, and a small booster compressor commissioned for the South Damas field. The Company also drilled and completed two successful development wells during 2014, namely West Khilala-4ST and East Abu Khadra-1ST and conducted work-overs to re-establish production from the West Dikirnis-2 and 8 wells. While the production figure for 2014 was positive, a small number of reservoir performance issues have required a downwards adjustment to booked reserves as at 31 December 2014. In particular, recent well performance on West Khilala has been negatively impacted by water and sand production, requiring a reduction of 35 Bcf; a more modest reduction was made in respect of West Dikirnis where heavier risking was applied to the gas reserves which will be recovered during the gas cap blowdown phase late in field life.|
|Aminex has expressed an interest in Petroceltic’s Egyptian assets.
24th April 2016
A source with knowledge of the situation said Aminex, which recently began pumping gas at a Tanzanian project, is closely monitoring developments at Petroceltic, which is currently in examinership|
|Possible with hogwash about morality hollow stuff!|
|Conspiracy theory's about : Worldview gets the assets if PCI fails to get cash.
Worldview sells the PCI stake to a very willing Algerian company at a big discount.
Worldview happy Algerians happy.
Hence the block on the Dragon sale??|
|Thanks for the heads-up 1775. This appears to be the first time Dragon have entered the fray in the last few months. So who have they been talking to ? I doubt it would be PCI. I suspect Dragon have been talking to WV with a view to buying their stake and debt package at a much lower price than the 230p per share offer of late 2014. The Algerians know about it presumably from PCI. The examiner will know about it. PCI and the Algerians have spent a lot of time and money on this project and appear to have developed a strong bond. I can't see the latter letting the relationship fail if they can avoid it as AT-10 is a very valuable asset. I may be wrong.|
|Could that deal have saved the company ?
Another door slammed shut.
|Algeria and Sonatrach taking the high moral ground is a wee bit rich!!!!!!|
|Interesting read on - algeriabusinessinfo.com - go to oil and gas on the header and then scroll down to April 18th. re. Petroceltic/Dragon. I'd be interested in any thoughts.|
|Guys think about Phoenix.|
|Sonatrach need to agree to who runs the company and wv are not those people and the way this has been played out is typical arrogant bankers v ignorant directors and shareholders who they both need being ignored|
|Interesing post on lse. Courtesy of Mikey...
Rhambo you seem to have all of the answers here so please could you explain this to me. Let's assume that you are correct and WV take over the company as debtholders what will they do with it? They are after all investors/ex bankers who do not know how to run an oil company and as we have seen so far they can not just sell the company and make a profit. Presumably then they will need the assistance of the BOD to run the company (regardless of how inept they seem to be) and would therefore need to come to some compromise with some of the board members. Would those board members who still hold shares in the company be willing to see the value of their holding wiped out completely?|
|Yes WV have played a good hand lately but it aint quite over yet. Wonder if T5 are still watching events unfold?|
|Big Brain and Wee Tom must really be held up for ridicule. Those that backed BB over the years have picked up a big bill for their trust in the Big Man.Poor old Adair has been wiped out by sitting down at the table with BB.No hope for anyone here but what Sonotrach make of this will tell how WV come out of this disaster.VGLTA|
|Not over until it's over!!|
|WELL SAID ABOVE :)|
|Wv wins game over|
|they need to get control of a running company , lets see what they do next , pci board nothing to lose but possible legal charges that they "did or did not go for shareholder value" its now with the examiner to extract the best deal and wv will now find that maybe the bod have a better chance than them when dealing in Algeria , those with long memories know what "approval" means|
|Wv in this up to their necks they got most to lose if pci folds.|
|We get nothing now,I presume?|
|a scheme of arrangement imo|