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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Petroceltic | PCI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 7.495 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 7.495 |
| Top Posts |
|---|
Posted at 12/5/2016 19:02 by nextull2 If he had stepped down when asked by the now proven superior and astuteBusiness professional Mr Moskov, this disaster could have been avoided. But Oh no the self inflated Ego and arrogance of the man and his merry little followers decide to take on the big boys and destroy all the investors HARD EARNED CASH! |
Posted at 16/4/2016 18:14 by nextull2 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? |
Posted at 10/4/2016 11:39 by dj2 Once again, especially with Aim companies, the directors are paid over inflated salaries, turn a world class asset into a disaster and walk away unscathed. They need to be held to account and stripped of their own assets. When is the law going to protect private investors? What are the scenarios if I don't accept the offer? |
Posted at 06/4/2016 22:38 by aimsharesone Petroceltic investors told to accept low 3p-per-share offerPublished: Wednesday, April 6, 2016 2:31 PM |
Posted at 04/4/2016 18:49 by lr2 Disposal of 32 per cent. of Petroceltic International plc's Senior Bank Facility by the Worldview Economic Recovery FundSunny Hill, a company wholly owned by the Worldview Economic Recovery Fund (the "Economic Recovery Fund"), announces that, on 2 April 2016, the Economic Recovery Fund disposed of 32 per cent. of the Petroceltic Group's outstanding indebtedness in respect of the group's Senior Bank Facility to an independent third party investor (the "Disposal"). The Economic Recovery Fund remains interested in 37.44 per cent. of the Senior Bank Facility. Registration of the third party investor as lender of record under the Senior Bank Facility is expected to occur shortly, on the facility agent, HSBC Bank plc, countersigning the transfer certificate under which the Disposal was documented. Capitalised terms or expressions used in this announcement have the same meanings given to them in the Offer Document dated 24 March 2016, unless the context requires otherwise. - ENDS - |
Posted at 27/2/2016 17:08 by nextull2 Courtesy of mister tray on ii.Interesting. Below is an excerpt from First FT article referred to in that post, this from the same man claiming now that PCI has no value and kindly offering to take investors shares for 3p. Bear in mind that the MC was £300m at the time. Petroceltic’s board has accused Mr Moskov of attempting to obtain control of the company without paying a fair price, and also argued a change of control could threaten its interests in its Ain Tsila gas co-venture with Enel of Italy and Algerian state-controlled Sonatrach. The project is expected to absorb $1.5bn of capital expenditure ahead of first gas production in 2018. Mr Moskov defended his actions to the Financial Times this week, stating: “We have exhausted all options to make changes we wanted to make.” He admitted that Worldview at present was sitting on a paper loss after raising its stake from 5 per cent in February last year to nearly 30 per cent, but said he still expected to profit from his campaign. “Is there value in the company? Yes — multiples of current market value.” MT. |
Posted at 27/2/2016 13:37 by seangwhite This will stand off will linger on for a while as without Adair no takeover bidder can get to 90%.Adair is a lot poorer for sitting down at the table with Big Brain and I am not referring to the bill for the meal.WV are stuck in a fairly bad place as they have managed to destroy a great percentage of their investment on this rather opportunistic but inherently dangerous gamble.With WV talking down the value and BB being held in such low regard by most of his poor investors maybe Wee Tom should step out from behind the Big Man's shadow as a mediator.It is obvious BB must stand aside or go for any resolution unless he can push his old mates at ENI into making a bid.20p could easily do it I would say!GLTA |
Posted at 29/1/2016 18:50 by seangwhite Big Brain lived to eat heartily for another while.The poor investors paying the bills all the while.GLTA |
Posted at 22/1/2016 10:44 by h2owater Unhappy Petroceltic Shareholder Considering Takeover Offer For CompanyFri, 22nd Jan 2016 10:22LONDON (Alliance News) - Petroceltic International PLC could be subject to a takeover offer after an existing substantial shareholder said it may potentially launch an all-cash offer for the company on Friday.Worldview International Capital Management Ltd already holds a 29.6% stake in the oil and gas company, and said its preparing to make a bid to acquire the remaining issued share capital of the company."Worldview would like to emphasise that its evaluation of Petroceltic is ongoing and there can be no certainty at this stage that any offer for Petroceltic will ultimately be made, nor as to the terms of any such offer should one be forthcoming," it said in a statement."Sharehold |
Posted at 04/8/2015 20:39 by nextull2 PETROCELTIC AND BP???Is Petroceltic International PLC The Perfect Partner For BP plc? By Motley Fool | Mon, 3rd August 2015 - 15:41 Share this Shares in oil and gas exploration company, Petroceltic (LSE:PCI), have slumped by over 10% today after it announced the suspension of a planned bond issue, with the company stating that, as a result of volatile conditions, it has been unable to secure financing on the terms it is seeking. In consequence, marketing of the $175m bond issue will be postponed until Petroceltic has completed the transfer of its interest in the Isarene production sharing contract. Clearly, the market is disappointed with this development and it comes at a time when the company's outlook is hugely uncertain. As well as a weak oil price hurting Petroceltic's near-term outlook, its major shareholder, Worldview Capital Management, has apparently been critical of the company's senior management team. In fact, it has been rumoured that a change in CEO is desired by Worldview, which is also unhappy with the proposed bond issue, too. Of course, today's share price fall follows a hugely challenging few months for the company, which have seen its valuation plummet by over 50%. And, with financing in the oil sector being relatively difficult to come by, owing to the increased opportunities that have become available to less risk averse investors, a delay in Petroceltic's planned fundraising could cause investor sentiment to decline further in the short run. That's because, with an array of other oil stocks trading on super-low valuations, investors have a great choice available to them, which means that they can be more selective. One oil stock that is worth choosing to buy at the present time is BP (LSE:BP). It clearly has far superior size, scale and financial strength compared to Petroceltic and, while there have been criticisms levelled at its management team in recent years, the company is riding out a lower oil price, sanctions against Russia and the ongoing fallout from the Deepwater Horizon oil spill very well. In fact, BP's share price has fallen by just 5% this year and, as its recent results showed, it is making encouraging progress in dealing with a lower oil price environment. BP is expected to at least maintain dividends over the next two years, which means that it could pay out as much as 13.8% in dividends during that period. As such, it remains a top notch income play and, with strong growth prospects being anticipated during that period, its price to earnings (P/E) ratio is set to fall to just 12.8 next year, which indicates that its shares could be due an upward rerating - even if the price of oil does not pick up considerably in the meantime. On paper, a combination of a smaller oil play and a larger, more stable stock such as BP makes a lot of sense. They may be able to balance out each other's weaknesses and provide a mix of income and growth for long term investors. However, while BP is a superb buy at the present time, things could get worse before they get better for Petroceltic, with shareholder disquiet and questions about its financing unlikely to help improve investor sentiment in the near-term. As such, it remains a stock to watch, rather than buy, at the present time. Peter Stephens owns shares of BP. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. |
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