Petroceltic Share Discussion Threads

[nextull2] 26/9/2015 08:21

Court case update:

[hermana3] 24/9/2015 23:22

As if fatso could even spell "democracy"..........

[nextull2] 24/9/2015 19:01

Court case:

[sawney] 22/9/2015 18:41

Thanks for that.....they supported the Board in Feb...

www.independent.ie/business/irish/petroceltic-shareholders-set-to-back-firm-in-worldview-row-31010991.html

[billy_buffin] 22/9/2015 18:27

Aberforth Partners 6,845,901, held 3.20% on the 20th Sept says Google cache of PCI rule 26 page.

Today:
Aberforth Partners 17,064,097 7.97%

[moise] 22/9/2015 14:57

Apologies; originally posted above as originating from Davy's, it is actually courtesy Goodbody's.

[moise] 22/9/2015 14:54

Goodbody's note today;

Petroceltic Value, but funding risk & shareholder discord weigh
Petroceltic has not been immune to the general oil price trend, a situation that has been
exacerbated by the acquisition of a prior suitor (Dragon Oil). While our model suggests
value, even at $50/bbl, realising that value will require flexibility from its current bankers,
sufficient appetite from the bond market and / or some resolution to an increasingly fractious
relationship with its largest shareholder, Worldview.
We expect commentary in the forthcoming interim results statement (end of Sept.) on: (i)
the bond issue; (ii) progress on Algeria; and (iii) a possible fast-track of seismic activity
offshore Egypt. Commentary aside, we forecast H1’15 revenue of $41m, EBITDA of $18m
and net debt rising from $153m to $194m.
Shareholder discord is not only proving costly, it will likely act as a deterrent in terms of
attracting investment or M&A. Hence, while we perceive value and believe management has
executed effectively in the past (two successful farm-downs of equity in Algeria, while still
retaining the operator role, merger with Melrose) funding constraints beyond Q2’16, and an
activist shareholder, are likely to limit its resourcefulness in the near term.
In the circumstances, we lower our recommendation from Buy to Hold, despite the
perceived value in its Algerian asset, pending resolution of near term funding and a
more benign shareholder outlook. Reflecting near term headwinds, we align our
revised price target of 72p with core NAV derived from the current 2016 forward
curve ($56/bbl).

[sawney] 22/9/2015 13:01

The Company has received, on 21 September 2015, a notification from Aberforth Partners LLP that as of 18 September 2015 they have a total interest in 17,064,097 ordinary shares which represents 7.97% per cent* of the Company's issued ordinary share capital.

Is that up or down....?

[hermana3] 22/9/2015 12:24

Billy, Wee berlusconi and his fellow travellers will be working hard to get the punters out!!!!!

[billy_buffin] 22/9/2015 09:59

Italy: To stop PCI's Elsa-2 well and Ombrina Mare (Croaker) well nearby (Rockhopper)500,000 votes in referendum required by Sept 30th - they 200,000 short on the 16th.

[hermana3] 21/9/2015 21:48

And the way he and the board has treated Worldview!

[hermana3] 20/9/2015 21:29

Article makes out Moskov is a tyrant but all he wants is fatso's head on a plate!!!

[pugugly] 20/9/2015 11:04

Interesting article in Sunday Times today (u will need to buy as not on line) Heading - The Spy the Smears and a boardroom battle.

Main subject matter allegations of frauds bribery and fight with Worldview Capital Management See also WorldPress blogger and Irish judge order for Automattic (WorldPress parent) to reveal the identity of the blogger.

Fund and games to come -

Watch this space !!

Any views on a current fair price of PCI.
(Declaration I used to hold ex Melrose but sold at the time of the Dragon bid) but having a look to see if any bombed out value - also looking for possible value in the commodities sector.

[hermana3] 18/9/2015 11:26

Long n liquid one for fats!

[seangwhite] 18/9/2015 09:33

WV should take time off from trying to push Fats off his throne and go and wstch the Rugby World Cup.At least there the big men work hard to earn their money.Wee Tom is busy at PTR today so Fats can take a long lunch break (sadly as per his usual routine).VGLTA

[bu5boy] 18/9/2015 09:20

Just wish they would all grow up and the company do whats its supposed to do!

[hermana3] 18/9/2015 08:23

Mac,reckon fatman loves the bovver!!! Tales his mind off nosh for a wjile....

[mr macgregor] 18/9/2015 08:01

Hope all these Worldview open letters aren't giving the big lad indigestion.

[hermana3] 17/9/2015 15:52

Wish some outfit would take us out of this misery!

[billy_buffin] 17/9/2015 14:34

ENI’s super discovery in Algeria lifts Petroceltic's appeal, broker says

Would be nice...wonder who pays Davy the broker?

'ENI’s very large new gas discovery in Algeria looks as though it may extend into Petroceltic’s (LON:PCI) acreage, according to Dublin based broker Davy.

Zohr, ENI’s new discovery, is estimated to contain some 30 trillion cubic feet of gas and as such it is designated as a ‘super discovery’, Davy analyst Job Langbroek highlighted in a note.

Langroek, meanwhile, also points out that the physical footprint of the discovery “may well” crossover into Petroceltic’s 50% owned North Port Fouad block.

Some 5-10% of the ENI discovery could be within Petroceltic’s acreage, according to Langbroek.

Not only would that increase the value of North Port Fouad, but, it also makes Petroceltic “more relevant” to possible mergers and acquisition suitors, the analyst added.

“If we assume that 7.5% is in the North Port Fouad block, then Petroceltic’s 50% stake is worth US$115-135m or 35-41p per share,” he said.'

[doohoma3] 17/9/2015 10:08

I m for abracabra

[hayfield] 17/9/2015 10:00

VoteMightymacs or the BigmacBrian can't choose so please help him

[imperial3] 17/9/2015 09:41

Who to vote for in pi's best interests wv or the board?