Petroceltic Share Discussion Threads

[blue86] 10/2/2011 14:35

market is in wait and see mode, won't give us any upside until. same with italy. some stocks just have all the fun!!

[hermana3] 10/2/2011 14:31

Blue,Brian delivered food packages to dave door today.

[blue86] 10/2/2011 14:30

herm, i like that film

[hermana3] 10/2/2011 14:26

Lure of easy money has yet to play at this cinema. Hard to know why Brian bothered turning up at OilBarrel as he had sfa new to say.Was he expecting things to have progressed more than they have?

[blue86] 10/2/2011 14:24

here goes dave. in for an early bath, the pointy shoed thief

[hermana3] 10/2/2011 14:18

What would Warren Buffett say? Money to be made buying impatient one's shares.

[cargton] 10/2/2011 14:06

I'm with you gerhart... money to be made else where...

[gerhart] 10/2/2011 13:59

No wonder the price is in the doldrums....FI suggested for 2010 year-end..."but best will in world, maybe run into 2011"....now looks like maybe 1st half of year. And reduced expectation on value. Is it just me or is this a bit depressing? We know all related related to Italy will be pie-in-the sky for some time. So in effect we are a bit of a one trick pony...and not partyicularly good on the tricks, from what I see. Me patience looks a bit misplaced.

[hermana3] 10/2/2011 13:58

Would love to drip 'em off on dave's pointy shoes.

[littlebritain] 10/2/2011 13:57

You can bet your tramps pants on it..

[hermana3] 10/2/2011 13:54

LB,dave is being a good boy so far today but will revert to habitually squalid behaviour at precisely 3.30pm.

[hermana3] 10/2/2011 13:50

Nothing for cash in hand($75m) or 25% workback from Sonatrach on Commerciality Declaration( should be min. $30m).

[littlebritain] 10/2/2011 13:50

Thanks Blue. However I note that in that post you didn't manage to weave in any profanity directed at MM's. So only 9/10.

[blue86] 10/2/2011 13:45

ok, so using 1.5-3.9tcf recoverable, and using $2/boe and $3/boe gives

2.4tcf recov (equivalent to 400mmboe) at $2.50/boe, we get $1bn for the field.

PCI's share is $750m

This is equivalent to £500m (at $1.5/£)

This is equivalent to 25p (using 2011m shares out).

Reworking this using worst case scenario (1.5tcf and $2/boe) gives you 12.4p
Reworking this using best case scenario (3.9tcf and $3/boe) gives you 48.5p

Nothing in the price for italy onshore (with ENI) or offshore

[topcod] 10/2/2011 13:45

Always read this board but rarely post but i am getting mighty fed up with the constant delays and moving of the goal posts continuously!! I have just closed my CFD postions but will remain with my purchased shares (held for about 6 years now) until the FI and hopefully much higher share price Fingers crossed its this year!!

GLA
TC

[hermana3] 10/2/2011 13:44

Pem, Tom can start bidding on assets in West Africa!

[pembury] 10/2/2011 13:42

Deep pockets

Loads of cash then coming PCI's way then!

[littlebritain] 10/2/2011 13:41

Thanks for your comments Offerman

[freelunch] 10/2/2011 13:39

I actually agree with you offer I think a deal now is beneficial to both parties when they assess risk. PCI reduce exposure on scale/success of asset and potential farmee gets what could be percieved a very attractive price.

P.S not jumping up and down regarding that first assessment of presentation. H1 now seems to be concrete so nothing imminent clearlyll

[offerman] 10/2/2011 13:33

The whole field was estimated to be worth $765Million, 50% 300-350$mill based on 1.5tcf recoverable.

As Herm says, the longer the wait for F.I the more value could be added to the deal.

I`m not sure though that they may have a fixed priced already even if the field increases so both parties would win out.

I expect it to increase as AT5 was outside the zone and had a deep column, how far does this extend to , seems no one knows.

Personally i`m expecting recoverable on the whole lot to be between 4-8tcf.

[littlebritain] 10/2/2011 13:26

Anyone with a calculator and an O&G brain care to venture the value of the recoverable amount....I posses neither.
Is it me or is this recoverable amount towards the lower end of expectations?
lb

[hermana3] 10/2/2011 13:23

OM,on the other hand the more PCI know on Isarene the higher the price achieved will be. Hints of high bids when Brian talks of deep pocket interested parties. No mention in 2M's report on any acquisitions activity.

[offerman] 10/2/2011 13:09

Sounds bit like we are going to need patience of a saint here.!!!!!