Petroceltic Share Discussion Threads

[doohoma3] 10/3/2016 17:19

what does this mean for us ordinary shareholders
debt bought for a knockdown price and we can go whistle

[hermana3] 10/3/2016 17:16

Now we are witnessing why Sunny Hill/Worldview wanted an Examiner. If they convert their debt to equity they will have a total stranglehold here!

[hermana3] 09/3/2016 08:19

Indo today says this Examinership is a "test case" for survival in this industry crisis. Success may mean other troubled cos in the sector will try it.....

[hermana3] 09/3/2016 08:09

Examiner wont be around for long enough to do what we want. Removal of brian only possible in a box covered with a shedload of garlic.........

[seangwhite] 08/3/2016 21:52

Looks like Big Brain has finally had to step or rather be shoved aside.Surely no Examiner will sanction his salary package going forward if that is even a possibility for PCI.Wonder if Wee Tom will hang round if Big Brain departs the stage.GLTA

[data1t] 08/3/2016 19:59

This is just a hiccup. I can't wait for market to open, average down with a few £££££ and be rich real quick.Trolls and haters will be kicking themselves.

[nextull2] 08/3/2016 19:59

Why would scheme of arrangement not be good for shareholders?

[hermana3] 08/3/2016 19:44

The plan is to keep PCI as a going concern but I agree we are entering a period of great uncertainty but at least PCI and Worldview are communicating now!

[pyemckay] 08/3/2016 19:14

hermana- I have been sleeping rather well. Can you please read the article properly. The reported scheme of arrangement will not be good for shareholders. I am short and not at all concerned.

[nextull2] 08/3/2016 18:04

Latest....

[hermana3] 08/3/2016 09:31

Article in paper talks of PCI being on life support. Worldview sure not helping the company in its pursuit of survival. Private Equity firms possess the same mindset of loan sharks....

[bu5boy] 08/3/2016 09:00

Where there's life there's hope.

[data1t] 08/3/2016 08:42

Rock solid and dense.

[hermana3] 08/3/2016 08:36

Bet them shorters are not sleeping as well now!!!!!

[data1t] 08/3/2016 05:49

This is just a hiccup. I can't wait for market to open, average down with a few £££££ and be rich real quick.Trolls and haters will be kicking themselves.

[seangwhite] 07/3/2016 18:57

This cod make a decent piece of drama but no I meant comedy. Starring t he comedians at Worldview and that larger than life buffoon BOC.The only winners here will be the bankers and solicitors.GLTA

[hermana3] 07/3/2016 17:02

Dont think they are creditors but it is clear they did not have management agreement. The legal eagles will be busy on this matter!

[resourceful] 07/3/2016 17:00

are worldview creditors
if not how can they get an examinership without mgmt. agreement

[mariopeter] 07/3/2016 12:56

Very much agree with this and imho Worldview making a show of themselves:


"Just when you didnt think it couldnt get worse it did, as Worldview have put PCI into Examinership which is a bit like Chapter 11 I understand. It’s about the only thing I do understand about all this as is looks very odd behaviour to me. With the next waiver of the debt expected and a strategic review looking at all options, a hostile bidder has just tried to allegedly bankrupt the company it ‘wants’ to buy. The ramifications of this are at best unclear and I’m sure that the company and its advisors are not sure either. Under this process I get the impression that without a valid waiver in place the company may be technically in default although I suspect that lending banks may have sympathy with PCI.

What is for sure is that all involved are in uncharted territory, under the Court the examiner has 100 days to reorganise the company’s affairs but again I suggest that this legislation was never designed for such action and I think that technically Worldview may have to prove that they can run the company. PCI are suspended but not until 4th April as some suggest, if the company can sort out the waiver situation I think that the quote may return.

I am by no means au fait with these procedures and I suspect neither are the company, all I can see is that Worldview, having failed in the 3p bid (which is still technically on the table), are considering yet more outrageous options which may end in tears all round."

- See more at:

[accrillium] 07/3/2016 12:50

Some of you did nothing more than look at the historical chart and thought this would bounce back when oil did and now find to your cost this is not going to happen. You can blame bears if you want, bears did not get pci suspended, its financial situation has done this. Skye can throw its arms in the air all it want but the banks will have more to say on this. Those ramping should hang their heads in shame, at least there is no solace or ill gotten gains for their ramping.

[hermana3] 07/3/2016 12:45

High time company regained some control as completely outplayed by Worldview in last 3 months. Fat lady aint sung yet but options are narrowing by the day....

[bluebell1] 07/3/2016 12:12

Looks like the Banks are now doing what I predicted. This will be all over now soon enough

[rallyman2] 07/3/2016 11:51

lets now see if we get another offer ?