Petroceltic Share Discussion Threads

[hayfield] 03/8/2015 17:16

We need the bod completely replaced. Some clarity as towards the cash situation. It needs to be done asap

[doohoma3] 03/8/2015 16:33

2p in old money what a plonker
how much extra cash have they raised in the last three or four years

[offerman] 03/8/2015 14:40

Welcome Verg.

[seangwhite] 03/8/2015 13:50

Big Brain is confident in his long term plan and has sent Wee Tom out to try and raise a few Bob for the Xmas bashLooks like 50p will get taken out fairly shortly.GLTA as long as BB is at the helm it is doomed

[verger] 03/8/2015 13:41

That's where I went!

[rallyman2] 03/8/2015 12:39

gkp today what a reverse

[verger] 03/8/2015 11:52

Can't believe it but I'm out. Better prospects elsewhere.

[bluebell1] 03/8/2015 09:48

Or Dragon to re-enter with a low ball bid.

[moise] 03/8/2015 09:45

Soon be cheaper for WV to buy the company outright, rather than pursue it through the courts.

[hayfield] 03/8/2015 09:18

Turning into a train wreck now. But biggy is determined to remain at the helm.12p here we come

[hermana3] 03/8/2015 09:17

What next now?

[goldencrosskiss] 03/8/2015 08:43

£3, where do you get that figure from bluebell1. I see it as desperate time, desperate measures.

[rallyman2] 03/8/2015 07:55

cancelled or suspended ?

[bluebell1] 03/8/2015 07:49

Bond issue now canned, looks like WV are getting their way and we may see parts of the co. broke up and sold. The complete breakup value of Petroceltic is close to £3, question is will they achieve anything near that and will the ordinary pi see any of it?

[rallyman2] 29/7/2015 16:26

there assets are enough to stave off bankruptcy they just need direction and faith in the company then we will see a upturn , I still think the bond issue is preferable to a share dilution

[goldencrosskiss] 29/7/2015 16:20

If they go bust shareholders will get nothing.

[rallyman2] 29/7/2015 15:05

120p - 60p in 4 weeks

[rallyman2] 29/7/2015 13:34

still think it can quickly reverse +25p-50p at any time on an interesting update/development

[doohoma3] 29/7/2015 13:19

reckon this will hit lower than any of us imagined maybe 20 or 25 p

[nextull2] 27/7/2015 19:17

Thanks for that bizana.

[sawney] 27/7/2015 16:31

Thanks for the info/update bizana

....prior to initial production in 2019

...moving out already...?...well there's a surprise...:-(

[bizana] 27/7/2015 15:51

Goodbodys Gerry Hennigan today.

Petroceltic The case for the defense
Post another request from Worldview for an EGM and the issue of legal proceedings in the
High Court in Ireland over an alleged failure to carry out a Strategic Review, the Board of
Petroceltic set out its defense at the AGM on Friday. Central to its case was the basis for the
proposed bond issue aimed at raising $150m - $175m and secured on the Algerian
subsidiary.
Of note in the presentation was a current value attributed by Wood Mackenzie to the Ain
Tsila development (Algeria) of $620m ($653m including the carried value of most recent
farm-down to Sonatrach), with the same consultant attributing a value of $1.4bn to the
asset prior to initial production in 2019. Using the same discount rate (10%) our Ain Tsila
value currently stands at $574m.
With a current market value for the group as a whole of just £148m (c$230m, EV of
$380m) the above valuations have been weighted down in part by market
sentiment, but also uncertainty over the bond issue and the fall-out from the level
of discord with its largest shareholder, Worldview (20% interest).