Petroceltic Share Discussion Threads

[nextull2] 22/4/2016 19:15

Conspiracy theory's about : Worldview gets the assets if PCI fails to get cash.
Worldview sells the PCI stake to a very willing Algerian company at a big discount.
Worldview happy Algerians happy.
Hence the block on the Dragon sale??

[midshipmaneasy] 22/4/2016 10:35

Thanks for the heads-up 1775. This appears to be the first time Dragon have entered the fray in the last few months. So who have they been talking to ? I doubt it would be PCI. I suspect Dragon have been talking to WV with a view to buying their stake and debt package at a much lower price than the 230p per share offer of late 2014. The Algerians know about it presumably from PCI. The examiner will know about it. PCI and the Algerians have spent a lot of time and money on this project and appear to have developed a strong bond. I can't see the latter letting the relationship fail if they can avoid it as AT-10 is a very valuable asset. I may be wrong.

[nextull2] 21/4/2016 20:27

Could that deal have saved the company ?
Another door slammed shut.
Unbelievable!

[hermana3] 21/4/2016 16:30

Algeria and Sonatrach taking the high moral ground is a wee bit rich!!!!!!

[1775] 21/4/2016 16:14

Interesting read on - algeriabusinessinfo.com - go to oil and gas on the header and then scroll down to April 18th. re. Petroceltic/Dragon. I'd be interested in any thoughts.

[kedward] 17/4/2016 21:40

Guys think about Phoenix.

[rallyman2] 17/4/2016 07:26

Sonatrach need to agree to who runs the company and wv are not those people and the way this has been played out is typical arrogant bankers v ignorant directors and shareholders who they both need being ignored

[nextull2] 16/4/2016 18:14

Interesing post on lse. Courtesy of Mikey...

Rhambo you seem to have all of the answers here so please could you explain this to me. Let's assume that you are correct and WV take over the company as debtholders what will they do with it? They are after all investors/ex bankers who do not know how to run an oil company and as we have seen so far they can not just sell the company and make a profit. Presumably then they will need the assistance of the BOD to run the company (regardless of how inept they seem to be) and would therefore need to come to some compromise with some of the board members. Would those board members who still hold shares in the company be willing to see the value of their holding wiped out completely?

[hermana3] 16/4/2016 13:00

Yes WV have played a good hand lately but it aint quite over yet. Wonder if T5 are still watching events unfold?

[seangwhite] 16/4/2016 11:22

Big Brain and Wee Tom must really be held up for ridicule. Those that backed BB over the years have picked up a big bill for their trust in the Big Man.Poor old Adair has been wiped out by sitting down at the table with BB.No hope for anyone here but what Sonotrach make of this will tell how WV come out of this disaster.VGLTA

[nextull2] 16/4/2016 08:58

Not over until it's over!!

[goldencrosskiss] 15/4/2016 23:37

WELL SAID ABOVE :)

[bluebell1] 15/4/2016 13:06

Wv wins game over

[rallyman2] 15/4/2016 11:30

they need to get control of a running company , lets see what they do next , pci board nothing to lose but possible legal charges that they "did or did not go for shareholder value" its now with the examiner to extract the best deal and wv will now find that maybe the bod have a better chance than them when dealing in Algeria , those with long memories know what "approval" means

[bu5boy] 15/4/2016 11:21

Wv in this up to their necks they got most to lose if pci folds.

[imperial3] 15/4/2016 10:33

We get nothing now,I presume?

[pyemckay] 15/4/2016 10:18

a scheme of arrangement imo

[moise] 15/4/2016 10:06

Sunny Hill offer lapsed, insufficient acceptances. So what goes next?

[n13518] 13/4/2016 21:48

When you are losing thousands, losing a few hundreds is neither here or there.

Not selling.

[friars3] 12/4/2016 21:22

World wide may consolidate the shares ie. one share for 1000 share
and will no douth down size company going forward, what i am trying to saying is you don't now what they have in mind, but nothing for the share holders I say

[imperial3] 12/4/2016 20:54

Accepted offer.Better owt,than nowt.

[goldencrosskiss] 12/4/2016 15:57

"Turn out better than people think" haha. Worldview or bust!

[kedward] 12/4/2016 14:38

mid, in my book you not wrong, I think this will turn out better than people think.

[midshipmaneasy] 12/4/2016 09:53

It appears Parsley is not selling his shares. Why not ? I am not selling mine as I am happy to take the gamble that the Algerians may not want to deal with Worldview. Having held and traded PCI for many years I feel there is still hope. I may be wrong.