Petroceltic Share Discussion Threads

[moise] 31/8/2015 14:34

From Goodbody's daily note;

Eni announced yesterday a potential 30 Tcf in place gas discovery (5.5bn boe in place) in the
Zohr Prospect in the Mediterranean Sea offshore Egypt. Covering an area of about 100 sq
km, Zohr is located in the Shorouk Block, c.10km from Petroceltic’s North Port Fouad block.
According to Eni, Zohr is the largest gas discovery ever made in the Mediterranean and could
become one of the world’s largest natural-gas finds. Assuming the discovery is developed it
would provide a major contribution towards satisfying Egypt’s natural gas demand for
decades. On that note, Eni is seeking to immediately appraise the field, with the aim of
accelerating a fast track development.
Petroceltic was awarded a 50% interest in the North Port Fouad Block in
September 2014. 3D seismic tendering is scheduled to commence in 2015, post
which a decision will be made with respect to any exploration drilling. While any
drilling activity is unlikely to occur until 2018/2019, the Zohr outcome clearly
provides a positive backdrop and an enticement should Petroceltic seek to farmdown.

[moise] 31/8/2015 14:32

Mgmt were wonderful all along. Fair dues to them for facing down those perfidious Eurotrash interlopers! All hail Big Brian.

[imperial3] 31/8/2015 12:49

doohoma3.Sell more of their Algerian interests to pay for it,if that is an option?

Anyway,tomorrow should be interesting.

[doohoma3] 31/8/2015 12:02

imperial they will probably have to get cash from somewhere before they can start

[hayfield] 31/8/2015 12:00

Have to do 3d seismic first,
they should flog it

[hermana3] 31/8/2015 11:46

Could flog these concessions to an outfit with a good drilling record?

[imperial3] 31/8/2015 10:40

Anyone know when drilling is about to start in these concessions?

[doohoma3] 31/8/2015 09:40

would the tide have finally turned for us
think if this b o d were given ducks they d probably drown

[billy_buffin] 31/8/2015 09:20

They need to fast-track this

Hay...Largest NEW discovery I guess

North Field Qatar:
According to Oil & Gas Journal, as of January 1, 2011, reserves of natural gas in Qatar were measured at approximately 896 trillion cubic feet

[hayfield] 31/8/2015 09:09

ENI reckon it could be the largest in the world.
I`m sure the 2 unexplored offshore blocks that PCI have must now be worth more than the Market cap of the whole company!! Mad isn't it!

[hayfield] 31/8/2015 08:44

"PCI already aware"
and so were a few insiders last week!

[billy_buffin] 31/8/2015 08:34

...and see the similarities between the two



and ENI...

'Zohr 1X NFW was drilled to a total depth of approximately 13,553 feet (4,131 metres) and hit 2,067 feet (630 metres) of hydrocarbon column in a carbonate sequence of Miocene age with excellent reservoir characteristics (400 metres plus of net pay). Zohr’s structure has also a deeper Cretaceous upside that will be targeted in the future with a dedicated well.'

PCI already aware. Fast track the 3D Edison!

[hayfield] 31/8/2015 08:20

hxxp://business.financialpost.com/news/eni-makes-big-gas-find-in-mediterranean-sea

hxxp://uk.businessinsider.com/largest-ever-natural-gas-field-found-2015-8?r=US&IR=T
hxxp://www.petroceltic.ie/~/media/Images/P/Petroceltic-V2/content-images/content/260914-egypt-overview.jpg




The Zohr gas find is adjacent to Petroceltics thekah ñ port fouad exploration block.

This is a game changer Compadre's

[billy_buffin] 30/8/2015 16:54

RE Egypt and possible good news for PCI:

ENI just announced find 30tcf plus 'supergiant' right next PCI's held N Port Fouad block. Would expect raise prospects on PCI's N Thekah block too which lies next to N Port Fouad.

From recent PCI presentation:

'Recent portfolio renewal:
– Undertaken when competition was low
– Guided by expected gas price trends
Four new licences acquired in 2013/14
N Thekah and N Port Fouad (gas) – High
impact, material potential'

[rallyman2] 29/8/2015 10:07

wv can pick this company up just need to sort out a partner who can run it as there an investment company , most pci employees will either walk or get fired Algerian asset still massive , there's more to be made here again at this price via the trading route and long term

[goldencrosskiss] 29/8/2015 01:12

Disturbing indeed!Reporting on PCI activities dating back 2010 and making assumptions to why Iberdrola ended partnership.Also the 66 management expat.paid at unsustainable level. Who was mentioning governance and lack of transparency. If anything true in Le soir d'Algerie journal then the board has many answers to provide. Unfortunately,with little prospect of funding and negative news I can only see one outcome. Well done the board of Petroceltic, not for your incompetence but for your lack of honesty with the people who have paid your far too high salaries for so long.If any wrong doing I hope there is a judiciary outcome.

[hayfield] 28/8/2015 14:06

www.lesoirdalgerie.com/pdf/2015/08/22082015.pdf

[nextull2] 28/8/2015 13:39

Hi bizana, can't get into link for some reason.
Can you give me a brief on it please,
Thanks.

[bizana] 28/8/2015 12:17

PCI continues to suffer from the most appalling management.
Cash runs out in 6 months. The bond issue was a non-runner and the only possible way to raise cash will be by way of a placing of at least a billion shares at an enormous discount. But I don't think they will get that away either.
So the only option is a fire sale of Ain Tsila. I think this likely in the short-term. Otherwise, without cash, PCI will collapse.

In hindsight PCI was going down the tubes courtesy of its Board but the arrival of WV has been an unmitigated disaster that accelerated the process. Of course for WV it may prove the opposite. What if they have the resources to take out PCI at this price level and to restructure the project?

Prior to the vote at the EGM 25/02/2015 I was categorically told by senior management of Ain Tsila that if WorldView succeeded they (senior management) would quit the project.

[hayfield] 28/8/2015 07:40

All types of mud seem to stick now. But if you say it then it must be the truth!! Remember its not Defamation if its the truth so you should have no problem coming out and revealing yourself.

[sawney] 25/8/2015 08:54

hxxps://www.progility.com/investor-relations/directors

.....His last role was as Group Finance Director of office2office plc, guiding it through to its sale in October 2014. Prior to that he was CFO and CEO of Dawson Holdings PLC, overseeing the reversal of its decline, the growth of its constituent businesses and, in August 2011, the sale of the group for a significant premium. His early career includes spells with Procter & Gamble, ICI PLC and S Daniels plc.