Petroceltic Share Discussion Threads

[scoby99] 04/2/2015 15:40

Hrrm....College of Physicians ...Kildare St.
They must be expecting a few broken bones

[hermana3] 04/2/2015 14:59

Scoby,Should be worth attending for sure!

[scoby99] 04/2/2015 12:58

A piece in the Sunday Times said London research house S P Angel reckons B O'C is doing a good job given the sector's difficulties. They point out that Don Walcott the Worldview nominated PCI director should step down as his previous record with Ruspetro was pretty disastrous.
The upcoming EGM is shaping up like a UFC cage. Bring it on!

[covboy] 04/2/2015 12:38

Another day of good volume

[joey_the_lips] 04/2/2015 11:07

Get on up you little beauty!!!

[verger] 03/2/2015 16:15

Sorry hermana3, it isn't me!

[hermana3] 03/2/2015 15:28

Maybe divine intervention!!!

[ason] 03/2/2015 14:13

Bones,have read and heard so many guesses on the price of oil in the future anyone guess. yes AT is a world class asset, so is Elsa/Italy.

[briska2] 03/2/2015 13:00

would some party be bagging shares for voting rights at e g m

[bones30] 03/2/2015 12:52

Yes, but they aren't exactly that much firmer. I'm quite bearish on oil prices currently. Have you read the article about $50 being a ceiling rather than a floor?

The important thing here is low commodity prices should be good for PCI as they are at the engineering stage. Suspect once AT is online prices will be back up. It may be more good news than bad.

The only trouble is financing as lower oil prices is bad news in the dept as alluded to in Capital Mkts Day presentation but AT is a world class asset so I suspect they'll be OK. Many won't though!

[ason] 03/2/2015 12:51

Bones, firmer oil price bodes well for all oil/gas companies.

[bones30] 03/2/2015 12:47

Do you think? Quite a big move just for sector based stuff. That said some of the moves down have been rather dramatic too!

[ason] 03/2/2015 12:46

Bones, nope just going up with the rest of the oil sector.

[bones30] 03/2/2015 12:42

Wonder if this is Kurdistan based rise? Seems a bit late for the Capital Mkts Day to be the reason. Or maybe Dragon sniffing around again?

[hermana3] 02/2/2015 21:07

We would rise nicely when news of fatman walking emerges!

[seangwhite] 02/2/2015 14:13

Well biz lets face it under Big Brian most holders of PCI have seen their share holding in PCI devalued.There have always been jam tomorrow presentations from the Big Man with under delivery being the outcome. His time has come if he were to walk the share price would rise, a real measure of his worth.

VGLTA

[colliox] 02/2/2015 13:44

Thanks bizana

[bizana] 02/2/2015 13:35

Colliox - share price Angel 28 Jan

Petroceltic (LON:PCI) – Directors Degrade the Company

It is always understandable when an activist shareholder believes that the Company is being mismanaged that the management is scrutinised and where necessary replaced. In this instance we specifically draw attention to Don Walcott, and say that his presence on the board actually degrades the Company’s corporate governance.

It is under Don Walcott’s watch that Ruspetro’s (“RPO’s”) value was decimated by poor performance in the execution of their development programme and excessive the leverage on the balance sheet. At the time we called for a clear and frank disclosure of the issues that the Company faced, the mistakes that they obviously made and the lessons that they had learnt.

To date neither RPO, which is under new management, nor Don Walcott himself as its CEO, have ever attempted to inform the market as to the complexity of the project, mistakes or lessons that they have learnt. Under these circumstances we would question any judgement that Don Walcott makes, and his presence on the board of Petroceltic should be an affront to the Company’s owners, Worldview included.

Whilst we recognise that progress for the current management has not been linear, we continue to believe that O'Cathain and co-have managed their portfolio well in the context of not only the headwinds in the general operating environment, but also the geopolitical environment in its operating areas, especially North Africa.

Furthermore, it is essential and correct that any shareholder has a right to air their grievances, and if they own sufficient shares, call for changes to be made. However, we do not believe that the proposed board will improve the Company’s performance, and we would go one step further in saying that Don Walcott should be replaced until such times as he can adequately explain how RPO got its development programme so badly wrong and destroyed shareholder value.

[hermana3] 02/2/2015 12:08

Yes his "Houdini" reputation will be severely tested by them Swiss lot!

[bu5boy] 02/2/2015 09:48

Dont hold your breath,bri couldnt even pull his fat head out of a hat.

[flyingbull] 01/2/2015 22:31

Bargain hunting time yet!!?? The February challenge (oil stock competitions for February) is on, deadline for entries is midnight on Monday 2 February.

The results for the January competition is now posted via the following link

fb

[hermana3] 01/2/2015 16:58

Would be a surprise if Brian found an ace when he needs one!

[seangwhite] 01/2/2015 13:05

Oh well it is not long now until the EGM on the 25th and unless Big Brian pulls something out of the hat he will be waddling off the stage for a well funded ( although not really deserved) retirement.VGLTA

[hermana3] 30/1/2015 21:12

brian sure has shat on the wee guy alright!