Petroceltic Share Discussion Threads

[bu5boy] 06/8/2015 09:17

herm,with the market cap below net debt,what would putting the company up for sale acheave for us shareholders?

[rallyman2] 06/8/2015 09:12

he will find a way to get the bond financed (just be a high interest rate) then as the article says he and the company are secure albeit at a price then the mkt will return and the price reverse very quick ......whether or not its good for the company he stays is irrelevant the share price will recover which is what we want

[hermana3] 06/8/2015 07:47

Is there any alternative to putting the company up for sale?

[hermana3] 05/8/2015 21:02

Methinks they are stuck with him. Adair is a fool but wee Tom must be wondering how we have arrived at this point. Blame is on brian but where has Tom been hiding?

[seangwhite] 05/8/2015 20:41

Big Brain has a vision and sadly poor old Bobby and wee Tom still seem to believe in it and him.As long as BB is around PCI is doomed.GLTA

[hermana3] 05/8/2015 16:12

Wont be going this time! Not overly keen on sitting in marbled lobby with WV bods,The Gestapo and dem parasitic media lot....

[fiachra] 05/8/2015 15:55

Her mana will you get in this time?

[hermana3] 05/8/2015 15:22

Moiae,There were a few WV heads stuck out in the lobby as Brian's loyal security guards denied them entry. Il Duce no like dissent and was seen waddling around the room after the shareholders backed him for some indecipherable reason. He wont be one bit keen to face the unruly mob once again though...

[doohoma3] 05/8/2015 14:17

what do I do with my vote so it counts
am unable to attend the e g m and not in the mood to read pages of instruction waffle

[rallyman2] 05/8/2015 14:10

have all shareholders now made up there minds to sell or not ......if so will be a rapid rise when the buyers return

[moise] 05/8/2015 13:29

Hope WV sit up at the front at the next EGM instead of skulking like naughty kids down the back.

[hermana3] 05/8/2015 12:37

Two in booby adair!

[bu5boy] 05/8/2015 08:49

Maybe we got one in Boc.

[hermana3] 05/8/2015 07:56

Only a fool would say no to BP!

[nextull2] 04/8/2015 20:39

PETROCELTIC AND BP???
Is Petroceltic International PLC The Perfect Partner For BP plc?
By Motley Fool | Mon, 3rd August 2015 - 15:41
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Shares in oil and gas exploration company, Petroceltic (LSE:PCI), have slumped by over 10% today after it announced the suspension of a planned bond issue, with the company stating that, as a result of volatile conditions, it has been unable to secure financing on the terms it is seeking. In consequence, marketing of the $175m bond issue will be postponed until Petroceltic has completed the transfer of its interest in the Isarene production sharing contract.

Clearly, the market is disappointed with this development and it comes at a time when the company's outlook is hugely uncertain. As well as a weak oil price hurting Petroceltic's near-term outlook, its major shareholder, Worldview Capital Management, has apparently been critical of the company's senior management team. In fact, it has been rumoured that a change in CEO is desired by Worldview, which is also unhappy with the proposed bond issue, too.

Of course, today's share price fall follows a hugely challenging few months for the company, which have seen its valuation plummet by over 50%. And, with financing in the oil sector being relatively difficult to come by, owing to the increased opportunities that have become available to less risk averse investors, a delay in Petroceltic's planned fundraising could cause investor sentiment to decline further in the short run. That's because, with an array of other oil stocks trading on super-low valuations, investors have a great choice available to them, which means that they can be more selective.

One oil stock that is worth choosing to buy at the present time is BP (LSE:BP). It clearly has far superior size, scale and financial strength compared to Petroceltic and, while there have been criticisms levelled at its management team in recent years, the company is riding out a lower oil price, sanctions against Russia and the ongoing fallout from the Deepwater Horizon oil spill very well. In fact, BP's share price has fallen by just 5% this year and, as its recent results showed, it is making encouraging progress in dealing with a lower oil price environment.

BP is expected to at least maintain dividends over the next two years, which means that it could pay out as much as 13.8% in dividends during that period. As such, it remains a top notch income play and, with strong growth prospects being anticipated during that period, its price to earnings (P/E) ratio is set to fall to just 12.8 next year, which indicates that its shares could be due an upward rerating - even if the price of oil does not pick up considerably in the meantime.

On paper, a combination of a smaller oil play and a larger, more stable stock such as BP makes a lot of sense. They may be able to balance out each other's weaknesses and provide a mix of income and growth for long term investors. However, while BP is a superb buy at the present time, things could get worse before they get better for Petroceltic, with shareholder disquiet and questions about its financing unlikely to help improve investor sentiment in the near-term. As such, it remains a stock to watch, rather than buy, at the present time.

Peter Stephens owns shares of BP. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

[seangwhite] 04/8/2015 17:29

I wonder if Wee Tom will get some better grub for Big Brain this time as it was not too good at the last EGM.The old company coffers might be tight but the big man needs feeding and buying him cheap food is a tad silly.GLTA

[hermana3] 04/8/2015 17:17

Hope Worldview are more organised for this EGM!!!!

[hermana3] 04/8/2015 16:24

Colonel Blimp trying to be cool!

[bones30] 04/8/2015 16:00

Can't believe BOC's bought some ridiculous hipster clown glasses. PMSL.

[marmar80] 04/8/2015 00:15

mcap is lower than the amount they paid for Melrose in 2012. unbelievable.