Petroceltic Share Discussion Threads

[hermana3] 10/2/2011 20:46

Sure will be. Deal will probably include an option on another 18% at an increased price for ecember,2011. Impressive presentation with realistic targets within.

[jinxter] 10/2/2011 20:41

Farming out rovasenda soon then, maybe next month
And farmout of only a quarter of their 75% of alg permit, Which is 18%
It will be interesting to see what the price tag is

[barmy cakes] 10/2/2011 20:23

presentation

[hermana3] 10/2/2011 20:17

Brian is not a pump and dump man and often likes to dampen expectations(as in hopefully farmin in H1,2010). Update on AT-4 could come very soon...

[dizzylizzy2] 10/2/2011 19:51

25wbh - You might be right. who knows? He did sound as if something was before Sona but that could be me desperately weighing every word as the farmin would be a very good indicator to buy. The 'hopefully 1st half of this year' comment afterwards brought me back to earth.
He did mention in the ques and ans session that PCI has better fiscal terms than late comers to Algeria so could that be presenting difficulties for the farmin contract? would sona be happy for the farminee to have the same terms? BTW guys, did I hear earlier that China has just paid a few billions to buy into a Canadian gas entity? And that our previous partner Iber spent a reasonable amt on renewable energy investment? I thought they were short of cash when they sold their holding here.

Brenchers - people did like Bowden Energy and Nothern Petroleum presentation imo. i prefered the latter so will do some research soon.

PCI share price didn't do so badly this pm considering the general market so maybe there is good news to come.

[greatfull dead] 10/2/2011 19:31

billynotsilly, your very welcome.

[hermana3] 10/2/2011 19:31

Algeria have $286 Bn in sovereign funds. Could be that Sonatrach will take up the 18% in next 3 months and then 18% before year end.

[billynotsilly] 10/2/2011 18:04

GD THANKS FOR THE RRL TIP OVER THE BLOODY MOON . GOT IN AT 6P THANKS AGAIN!!!!

[brenchers] 10/2/2011 16:48

I went to Oilbarrel today specifically to see PCI, due to a crash on the motorway got there at 10:10 just after they finished presenting! Rest of presentations were pretty poor with a load of fillers so not a good day out.

[25wbh] 10/2/2011 16:35

Herm , tend to agree with you, i recon when he booked the event he thought he would have more to say, sadly not this time around, and as negotiations now being at such a level he will be certainly cautious in what he says even to underestimating the current position

[offerman] 10/2/2011 15:50

True Blue!:-)

I just want a return to 20p then i`m out of here.

[blue86] 10/2/2011 15:48

honestly, this an upstream junior with loads of risks. some of you, who are expecting the next BG by mid 2011 should really think about what you are risking your capital on and why. the market will price this correctly at some point but for me, atm the market is saying "lets wait and see", while anyone with a good idea of gas markets in europe, pricing and algie psc's is probably buying, with a view to the inherent risks.

[rallyman2] 10/2/2011 15:44

im holding till jun then will relook .....remember theres results and testing which influence th fi 13.25p ok for me

[blue86] 10/2/2011 15:43

nigellaaaaaaaa. pure posh filth

[gerhart] 10/2/2011 15:35

Thnaks Dizzy...and LOL MAX...speaking as a boy, Ngella might provide a bit more "reassurance" at the moment!!

[offerman] 10/2/2011 15:34

Cheers Dizzy, sounds like another year of patience needed to get any returns?? Ah well.

[2maximus] 10/2/2011 15:21

Whats with all the talk about Jam, this is a mining stock forum, not Nigella Lawson cookery programme lol!!

[dizzylizzy2] 10/2/2011 15:20

Guys I really don't know what to say really. I was at the conference and there was nothing to shout about and the few people I spoke to liked the other 2 presentation and would consider investing. one person said they are already holding and would consider topping up. take that as a positive if you will.
would i consider buying back in after this presentation? NO. what about after the FI is signed sealed and delivered? probably yes.
BOC made it clear that PCI looking to farm out just over 18% now and the another 18% by yearend and that it's difficult to say when the farmin will be but it might be 1st half of this year. Ques is why would a major accept a tiny 18% and spend over $1bn on development costs? shouldn't Sona be looking to farm down some of their stake to make the deal more palatable?
He didn't sound too confident on acquisition either but he might be downplaying it for all I know. Overall it seems patience is what's required here. good luck.

[rallyman2] 10/2/2011 15:18

so farn in from now to jun + results ...thats about all brian could say without an rns

[freelunch] 10/2/2011 15:13

Sold some I'm afraid guys still have plenty but will play elsewhere with a bit of cash now. The company is finally starting to frustrate me with the Jam tommorow lines. I am still very much in but it really is time for some substance and less presentations.

[gerhart] 10/2/2011 15:07

Looks like "traders" see the disappointment too. The less there is of that the better of course. He would have been better off keeping stump. Jam tomorrow. Still suppose it's better than no jam at all! But it puts into perpective what some thought was negative or unfair coverage.....

[blue86] 10/2/2011 14:59

"bring back old Baldy"

LOL

(just kidding)

[hermana3] 10/2/2011 14:39

Brian made references to Middle East and West Africa as target areas for acquisitions. Doc Arnott has been trawling around for over a year now.