Petroceltic Share Discussion Threads

[billy_buffin] 09/10/2015 16:23

Hopefully Algeria's internal demands for gas which are huge due to domestic and many future combined cycle gas turbine (CCGT) driven power stations will take care of PCI's output as LNG market sounds dicey.

LNG markets gloomy outlook due over capacity it seems. Stateside Gulf Coast (Cheniere etc) Egypt has two LNG processing plants currently idle, and big 30tcf ENI Zohr find under fast trackin . Qatar can max out at 57mtpa LNG (3tcf pa). Far East, Aussie, PNG shed load of LNG upcoming, Big finds East Africa etc. I recall LNG over $12 per mmbtu Japan now around $8.

[n13518] 09/10/2015 15:33

New to this board and holding RPT and COP. Added 12000 at 62.13p. Keeping an eye on this for a while. Fingers crossed.

[hermana3] 07/10/2015 19:36

Johnny Craven did not know Italy was closed for business when he dug out the licences there!!!!!!!!!

[sawney] 07/10/2015 17:05

I wonder whether it's worth opening a candle factory in Italy....

[billy_buffin] 07/10/2015 16:06

06.10.2015 | Research and Production Hydrocarbons |
Petroceltic, archived application offshore
With a measure directorial 1 October, the Environment Ministry has ordered the archiving and the rejection of the way for the hydrocarbon exploration permit "D151 DR-EL" of Petrolceltic Italy. The area, covering approximately 253 km2, is located in the Gulf of Taranto

Staffettaonline.com

[sawney] 06/10/2015 16:56

Not so quiet.....

[...]

Worldview Capital Management has claimed that support is growing for its views in its long standing row with Petroceltic’s (LON:PCI) management.

Investment group Worldview called an EGM for 5 October to halt to a US$175mln bond issue and increase in borrowing limits but this was blocked by court action by Petroceltic.

Worldview, which owns a shade more than 29% of the Algerian, Egypt and Bulgaria–focused group, added that a further 12% of the company's share register now supported its position.

In total, that amounts to 41% of the oil and gas group’s shareholders, which Worldview claims would have been enough for a majority of the voting at the previous meeting.

One of the shareholders that had recently expressed support it said was Dovenby Capital, which owns close to 9% of the shares in Petroceltic.

[hayfield] 06/10/2015 16:47

All Quiet on the western front.

[hermana3] 04/10/2015 21:38

And that little yolk berlusconi now blowing Putin!

[sawney] 04/10/2015 11:07

As you were...Hell will freeze over before they allow drilling offshore Italy...let alone onshore :-)

[billy_buffin] 04/10/2015 10:10

not very encouraging herm!

[hermana3] 03/10/2015 19:48

Now if by some miracle we could get a drill permit in bloody Italy!!!!!!!

[billy_buffin] 03/10/2015 17:04

Bids pending for deepwater North Port Fouad offshore Egypt 3D seismic survey
Wed, 30 Sep 2015

DUBLIN, Ireland

Data from a 3D seismic survey over the deepwater North Thekah block in the Gulf of Suez offshore Egypt is under analysis, according to partner Petroceltic. The survey was acquired earlier this year. Results will be used to plan exploration drilling.

Tendering for another 3D survey over the adjacent deepwater North Port Fouad block will start in 4Q, Petroceltic said. North Port Fouad is next to the Shorouk block where Eni recently discovered a potential 30 tcf of gas in the Zohr field.

The Zohr-1 exploration well was drilled 3 km (1.9 mi) from the western boundary of North Port Fouad, so there is a possibility part of the field could overlap into Petroceltic’s concession. The company is looking to farm out part of its interest.

[hermana3] 02/10/2015 08:41

Tis a low volume share so manipulated bigtime by our friend dave!

[pigeon1] 01/10/2015 22:25

Time to buy back in people? Any advice from the lths?

[hermana3] 30/9/2015 14:27

Saw,Unusual statement.

[sawney] 30/9/2015 12:30

In the Western Po Valley, the EIA for the Carpignano Sesia-1 well on the Carisio permit was submitted by the Operator, Eni, to the authorities in December 2014. This well is being designed to test a large oil prospect located some 25km west of the analogous Villafortua-Trecate Field, and has gross mean unrisked prospective resources of 237 MMboe. Petroceltic has a 47.5% equity interest in the licence, but has concluded farm-out negotiations aimed at reducing the Group's exposure to exploration drilling and testing costs, while maintaining a material participation in the prospect. Further details of this transaction will be announced upon completion of the interest transfers.

Farmed out but no figures.....Mmmmm

[billy_buffin] 30/9/2015 11:38

'Petroceltic’s interims showed that they are forging ahead with Algeria, having awarded the rig contract and invited EPC tenders.

They are very excited about the Eni Zohr discovery in Egypt and having had ‘a number of approaches’ are in ‘early stage discussions’ with a view to farming-out their acreage'.

Malcy on ii - just now

[billy_buffin] 30/9/2015 10:09

ENI's 30tcf find 3km from NPF: They brought forward 3D on N Port Fouad I guess. Good thinking - (probably by partner Edison).

As PCI not the operator on this block this might go well if kept noses out.

[flyingbull] 29/9/2015 08:57

Fingers crossed for no October superstorm this year in the stock market! The October oil stock challenge is now on….deadline for entries is midnight on Wednesday...



Good luck!!!

fb

[seangwhite] 28/9/2015 18:14

When is Big Brain ever bothered to run the Company other than to ensure his huge salary.Shareholder value is something that is not something one would see on his menu. GLTA

[sawney] 28/9/2015 12:53

Dublin

28 September 2015

Petroceltic International Plc



Grant of EGM injunction by the High Court of Ireland



Petroceltic International plc ("Petroceltic" or "the Company"), the oil and gas exploration, development and production company focused on the North Africa, Mediterranean and Black Sea regions welcomes today's ruling from the High Court of Ireland granting an injunction prohibiting Worldview Capital Management SA ("Worldview") from proceeding with its unlawful attempt to hold an extraordinary general meeting ("EGM") of Petroceltic shareholders that had been scheduled for 5th October 2015.



As directed by the High Court, the Worldview-convened EGM will not now proceed.



The Board reiterates that Shareholders should continue to take no action in relation to the Worldview-convened EGM. In particular, Shareholders should not sign any document sent by Worldview or its advisers, including the form of proxy.



Robert Adair, Chairman of Petroceltic commented:



"We are pleased that the court has upheld Petroceltic's application to prohibit Worldview's attempt to convene a further EGM and we now look forward to focusing on running the Company to deliver value for all shareholders.



Petroceltic remains committed to responding to legitimate concerns raised by any shareholder and furthering the conversation with all of our shareholders in a constructive manner."

[hayfield] 28/9/2015 10:50

What time is result in?

[hermana3] 26/9/2015 11:02

Next,RNS on Monday. Let us hope for a democratic Judge!