Petroceltic Share Discussion Threads

[lr2] 20/8/2015 13:28

Petroceltic International plc ("Petroceltic" or the "Company"), notes the announcement issued by Worldview Capital Management this morning in relation to allegations made on an anonymous blogsite.

The Company had no prior knowledge or notification of the claims or concerns, but upon it becoming aware, immediately instigated an investigation in accordance with established procedures. On the basis of the investigation it has conducted to date, the Company considers the allegations to be entirely baseless, untrue and defamatory.

The Company has commenced an action in the Irish Courts to ascertain the identity of the blogger. Once identified, he/she will be invited to demonstrate any bona fide evidence to support the allegations made. If no such evidence is forthcoming, the Company will take appropriate legal action against any party who has made or repeats such defamatory statements in order to protect the good name and reputation of Petroceltic, its staff and consultants.

[bu5boy] 20/8/2015 13:16

Well said rally.

[rallyman2] 20/8/2015 12:44

lots of smoke at present but no fire but remember they still have the asset I will let my holding roll with it and see if wv with 30% are going to do anything but moan !!

[hermana3] 20/8/2015 12:13

Yes what a shame Johnny Craven was forced out!

[sludgesurfer] 20/8/2015 12:08

True or not. I can't see a good outcome for shareholders. I don't mind holding oilies through this rout if they can come out the otherside. This has an afrenesque stink to it however. And i think on balance selling is the best course of action.Shameful mismanagement of decent assets. Imo

[hayfield] 20/8/2015 10:53

How did they get away with a $130million spend in Kurdistan?If the spent $130million then as Hess were liable for the other 80% of the costs then Hess must have spent-written down close to $1billion! On two Wells ? One of the didn't even reach TD. I don't think so...It looks like massive fraud may have taken place and we need answers. I doubt that any of us will recover any money lost here though. WV may get to scalp them yet though.

[rallyman2] 20/8/2015 10:12

if your "completely innocent" you don't push for a court case ?

[bizana] 20/8/2015 09:50

wordpress.com
This is scary stuff. Google the above and go into "exposure and truth".

[unionhall] 20/8/2015 09:44

Petroceltic is taking a case against the company that owns blogging platform Wordpress, in an attempt to identify the author of a blog critical of the oil and gas exploration company.

A number of serious allegations have been made against the Dublin-headquartered firm through a blog hosted on Wordpress.com, the first of which was published in July.

In response the company, along with its CEO Brian O'Cathain and chief financial officer Tom Hickey, have filed cases against Aut O'Mattic A8C Ireland - the Irish arm of Wordpress owner Automattic - in order to identify the anonymous author.

Petroceltic's largest shareholder - Worldview Capital - has today called for clarification in relation to the allegations, which relate primarily to its Ain Tsila project in Algeria.

Worldview has had a number of clashes with Petroceltic's management in the past year over an alleged breach of a shareholder agreement, which the Irish company denies.

Late last year the investment firm took a case against Petroceltic, before failing in a bid to oust Mr O'Cathain in February.

Worldview also blocked a number of resolutions at the company's annual general meeting late last month.

[rallyman2] 20/8/2015 09:15

would be nice to see the board pick up stg 100k each

[doohoma3] 20/8/2015 09:10

2pence has arrived could it be possible we ll hit one p

[hermana3] 19/8/2015 07:51

So 2018 for peoduction now. Hope Brent aint so weak by then.....

[seangwhite] 16/8/2015 21:57

Big Brain has a well earned reputation for being single minded sadly he continues to show his contempt for shareholders and is going to go down with his ship.Most will like to know that he has stuffed his lifeboat with lots of money in the form of a huge salary for a long period.

GLTA

[dubhgeannain] 12/8/2015 10:16

@ Ironhorse. I chased the price down hoping to sell on any bounce. Had sold 1/3 of my holding at 1.70 before the take over talks. Then 1/3 at 2.04. My last 1/3 went at 1.04. I can't claim the gift of foresight or anything like that but lucky to have bailed when I did.

VGLA, I'll be continuing to follow this share. A board change at this stage is an absolute must.

[seangwhite] 11/8/2015 10:07

Big Brain and Wee Tom must be hunkered down for the long haul.It must be hard waiting each month for the large salary payment to appear in their own bank accounts.

[ironhorse] 11/8/2015 09:56

Am I glad I got out of PCI at 1.20. Only ended up here because off the Melrose take over, should of sold when take over was announced. Sorry for longs still in.

[doohoma3] 11/8/2015 09:17

2P or not 2P that is the question

[goldencrosskiss] 10/8/2015 21:01

RUSTY, bottomless now sorry.

[rusty9717] 10/8/2015 18:35

Anyone call the bottom. Might have a small punt sub 50p.
Who knows though.
Got to be value here at some point soon.
Previously held on a couple of occasions.

Good luck to all holding but think the momentum is still down for a bit more.

[doohoma3] 10/8/2015 17:06

reckon we ll go sub 50 this week !what a disaster

[seangwhite] 06/8/2015 21:58

I would not be so sure about the share price going up after a bond deal.Big Brain has handled every deal he has done in the past few years with staggeringg incompetence.
The scale of destruction of shareholder value is astounding and the arrogance should by BB and Wee Tom in paying themselves exorbitant salaries beggars belief.
Come on WV get your act together and move fatty on.

GLTA