Petroceltic Share Discussion Threads

[hermana3] 06/2/2016 08:53

Brian is at his best in a tight corner hanging onto his job and entitlements! Hasn't served the broad interest one bit here.

[nextull2] 05/2/2016 19:37

Posted on LSE by Davies:
RE: WorldviewToday 16:25Heard that they have sold their Egyptian assets to pay off banks. Algerian project definitely going ahead. Project too valuable for banks to shut down. Offers are coming.

It's a scenario I've being thinking about and hoping for as there is huge value to be
had here with Ain tsila. Is it true maybe or maybe not ?
I reckon we could very well get a press release Monday morning regarding
Egyptian assets sale.
The Big man has a Big Ego and is very well renowned for his grit and fighting spirit
he's IRISH after all.
I reckon he'll pull it off !!

[doohoma3] 05/2/2016 17:20

nothing about banks having continued to finance

[accrillium] 05/2/2016 10:48

PIs wishing for a buyout at a premium....
hxxp://www.shareprophets.com/views/18526/further-thoughts-on-petroceltic-still-a-storming-sell

FORGET IT.

[hermana3] 05/2/2016 10:37

Good summation of current events. Place your bets,ladies and gents...

[hermana3] 05/2/2016 09:09

RM,We Getting used to Friday evening specials lately here! Have the bicycle clips strapped on already....

[rallyman2] 05/2/2016 08:17

will be another rns on bank facility update tonight which will show behind the scenes action

[hermana3] 05/2/2016 07:56

Time will tell. Glad it is not a TW V BOC contest exclusively? Still rose tinted glasses hope that Tom has something left in the tank......................

[accrillium] 04/2/2016 22:56

h2o is tw a ah because he has 2 of your company's as slam dunk shorts? or do you think he has he numbers wrong and you have the correct formula?

[hermana3] 04/2/2016 17:26

TW is a plank and a self serving one at that!

[gerhart] 04/2/2016 13:37

Don't know if any of you have seen this: TW at Share Prophets - yesterday. Described as a "scoop".

Anyone who thinks that Worldview is going to pay more than a nominal amount for Petroceltic (PCI) shares, if indeed it bids at all, needs to read this. A source close to the situation tells me that $60 million of its $220 million of borrowings is now being hawked around the debt markets at just 35 cents in the dollar.

If the debt is on offer with a 65% haircut and it is secured against the assets that means that the equity is just plain worthless. Any bidder needs only to own the debt and, since Petroceltic is in default on covenanants, the management would be forced to accept a derisory and nominal offer for the equity.

That one borrower is so desperate to unload tells you everything. Petroceltic is your top slam dunk short in London at a 20p bid. The target price for the shares is peanuts, as near to 0p as makes no difference.
- See more at: hxxp://www.shareprophets.com/views/18438/scoop-petroceltic-60m-of-debt-now-on-offer-at-just-35-cents-equity-is-toast#sthash.VljuheG8.dpuf

[hermana3] 04/2/2016 09:57

Tom would love brain to resign but tis not in the nature of the man! Greed and arrogance has all of us ruined....

[seangwhite] 04/2/2016 09:44

Big Brain has fairly squashed Wee Tom in his foolish schemes.I cannot see anything Wee Tom could cobble together would raise enough money to steady this ship as long as BB is at the helm.GLTA

[hermana3] 04/2/2016 07:52

And he has what is left of his rep to protect too!

[nextull2] 03/2/2016 19:58

Thanks herm, was wondering with funds from Egypt along with some other funding
perhaps farm out would it be enough to keep banks at bay until market improves.
I believe the board will do everything they can to keep this alive.
Hickey put over a million dollars of his own into this!!

[hermana3] 03/2/2016 19:20

Worldview with an industry partner takes the rest which is Algeria(Ain-Tsila) and the dormant Italian portfolio.

[nextull2] 03/2/2016 18:34

As reported T5 in for Egyptian assets, if that happens
what do you guys reckon the outcome could be from there??

[hermana3] 03/2/2016 13:15

Yes brian never had enough skin in the game!

[resourceful] 03/2/2016 10:06

hubris and arrogance
directors with egos and little stake in the venture

[hayfield] 03/2/2016 08:51

Nowt the ordinary pi can do about it. Company have completely shafted the shareholders. Looks like the bod have feathered their own nests over the years. Like wtf did Kurdistan cost so much? Over $100 million to participate in a 16% interest in two wells that were drilled to less than 2500 feet!! You`d drill 100f with an ordinary water well boring truck!!
Ahhh lessons learnt, burnt and moved on.

[sawney] 03/2/2016 08:39

Income and a world class asset reduced to a worthless pile of equity

And now the scavengers are feeding.

Someone's going to pick up a real bargain or two