Share Name Share Symbol Market Type Share ISIN Share Description
Petroceltic LSE:PCI London Ordinary Share IE00BB0QZ876 ORD EUR0.3125
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 7.495 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 100.94 -174.59 -92.12 14
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 7.495 GBX

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Date Time Title Posts
14/10/201715:33Petroceltic International PLC - DATA58,856
26/2/201616:02Only worth 3.75p on fundamentals8
11/12/201423:43Could Petroceltic be the next Cairn?3
31/7/201309:35Petroceltic International PLC10

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Petroceltic (PCI) Top Chat Posts

wshak: I still have over 350,000 to go to close my short. See below: If anyone wants to sell their PCI shares at 2p, please get your broker to contact Ken at Cambell O'Connor (tel 00 353 (1) 679 1969). Non-negotiable on price, sorry. I am short from a lot higher up, so happy to pay a something to release funds immediately, rather than wait for the takeover process to complete, when shareholders will be left with nothing.. WShak
nextull2: Malcays blog: "A CLAUSE IN CONTRACT"?? Petroceltic I said that I would add to my earlier comments on PCI after having spoken to a few of the key players involved in the situation in the last few months, that appears to have been somewhat of a hostage to fortune as the more one digs, the nastier it gets. The Irish Examiner has decided that Worldview should take over the company, something that was probably never intended before it put $300m of debt and equity into the business. Along the way both HSBC and the IFC appeared to sell their debt at what might have been 30 cents in the dollar, which should serve as a warning to others to whom these eminent institutions claimed to be ‘supporters217;. The management of PCI are certainly not blameless, as even I said that some time ago they should have refinanced the Algerian asset at Ain Tsila but in financings they have done, they have raised money in good faith, supportive holders of both equity and debt have been well and truly, shall we say- let down, by the recent shenanigans. It remains to be seen what will happen with regards Sonatrach and the Algerian Government, it is possible that this will trigger a clause in the agreement but probably not. Should Worldview refinance it and stay as owners they might be able to get it to the payback time in order to make the sort of money that PCI had always hoped to, in that case the $300m may not have been wasted after all… - See more at: hxxp://
midshipmaneasy: Thanks for the heads-up 1775. This appears to be the first time Dragon have entered the fray in the last few months. So who have they been talking to ? I doubt it would be PCI. I suspect Dragon have been talking to WV with a view to buying their stake and debt package at a much lower price than the 230p per share offer of late 2014. The Algerians know about it presumably from PCI. The examiner will know about it. PCI and the Algerians have spent a lot of time and money on this project and appear to have developed a strong bond. I can't see the latter letting the relationship fail if they can avoid it as AT-10 is a very valuable asset. I may be wrong.
lr2: Http:// The board of embattled oil explorer Petroceltic has said it will support the controversial 3p a share buy-out bid from Russian-backed fund Worldview, just days before insolvency proceedings are due to move ahead. The explorer’s largest shareholder made an offer to buy Dublin-based Petroceltic at an 83pc discount to its market value, which was initially rebuffed by the board as “undervaluing” the company. But the fund retaliated by purchasing almost 70pc of the group’s senior debt facility totalling $233m (£163m) in a bid to take control of its restructuring as it moves into insolvency. The company now faces insolvency proceedings in the Irish courts beginning this Friday and has urged shareholders to accept the offer by April 14. Worldview will need to secure support of 90pc of shareholders in order to snap up the explorer at the bargain rate. Macquarie analysts said the conclusion of a £64m deal with Worldview would be “very disappointing” given the fundamental value of the company’s Ain Tsila oil field project in Algeria. Independent advisory firm share price Angel added: “With the development drilling of the Ain Tsila progressing, and the prospect of cash generation not too far away, we believe that the Worldview team have played an absolute blinder with respect to getting a world-class asset for not very much money." The power grab follows months of feuding between Petroceltic and the fund, which has repeatedly accused the board of mis-managing the explorer and driving down the value of the company. The company has debts of $200m (£140m) versus a stock market value of just £46m earlier this year before trading of the stock was suspended. Worldview, through its subsidiary SunnyHill, put forward an offer to buy up the troubled firm at £64m, or 83pc below its most recent closing price, saying the value of the equity in Petroceltic “is close to zero, given the parlous financial position of the company”. Petroceltic shares were worth more than 130p in March last year but the collapse in global oil prices had pushed them down to just 7p before the company suspended trading on March 7.
mariopeter: Very much agree with this and imho Worldview making a show of themselves: "Just when you didnt think it couldnt get worse it did, as Worldview have put PCI into Examinership which is a bit like Chapter 11 I understand. It’s about the only thing I do understand about all this as is looks very odd behaviour to me. With the next waiver of the debt expected and a strategic review looking at all options, a hostile bidder has just tried to allegedly bankrupt the company it ‘wants’ to buy. The ramifications of this are at best unclear and I’m sure that the company and its advisors are not sure either. Under this process I get the impression that without a valid waiver in place the company may be technically in default although I suspect that lending banks may have sympathy with PCI. What is for sure is that all involved are in uncharted territory, under the Court the examiner has 100 days to reorganise the company’s affairs but again I suggest that this legislation was never designed for such action and I think that technically Worldview may have to prove that they can run the company. PCI are suspended but not until 4th April as some suggest, if the company can sort out the waiver situation I think that the quote may return. I am by no means au fait with these procedures and I suspect neither are the company, all I can see is that Worldview, having failed in the 3p bid (which is still technically on the table), are considering yet more outrageous options which may end in tears all round." - See more at:
ladeside: Resourceful, the question and only question that requires answering here is, Did the statement by Worldview last week cause the shareprice to drop over 50% ?? If the answer to that is Yes, then the only conclusion I can make is that they have manipulated the share price for their own ends. Make no mistake, the PCI board have made some terrible decisions over the past few years and are definitely responsible for the loss of value, however that's a completely separate issue imho.
gerhart: Elrico - I already admitted I'm not in. I used to be - big (for me!). And had PCI shares for very long time. But your comment makes sme laugh. If someone came to your door tomorrow and told you your house or car was worth nothing, then you would just hand it over would you? No I think not. I don't mean to shock, but WV have a vested interest. Were would the BOD get the money? Even within Ireland I'm sure they could get a few friends to beat the WV bid by a long way. Sure there is debt. And the oil share price is in the pits. But Oil will come back and there is a lot peeps in the biz who say it will be much sooner rather than later. (...and I know a lot of PCI is gas!)
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."Shareholders in Petroceltic are reminded that, further to the company's announcement of December 23, 2015, it remains in an 'offer period', within the meaning of the Irish takeover rules," Worldview added.Although no price or valuation has been mentioned, Petroceltic's market capitalisation currently stands a touch under GBP35.0 million, suggesting Worldview's current stake is worth over GBP10.0 million, with the other shares it may acquire being valued at just under USD25.0 million.Petroceltic initiated a formal strategic review of the business and its assets back in December as the company continued to struggle to make repayments under its senior bank facility due to a drop in oil prices, reduction in capital investment programmes in Egypt and Bulgaria, and adjustments to reserves.Petroceltic had not released a statement responding to Worldview's announcement early Friday.Petroceltic owes USD217.8 million under the senior bank facility, while cash balances amount to USD28.1 million. However, the company also said it had received confirmation from its lenders of their intention to provide further financial support.Petroceltic has previously said it had received a number of conditional proposals in relation to the sale of the company, but also said it had also received interest about individual assets of the company - giving it options. That kick-started a formal sales process, which Worldview has pounced on.Worldview would have seen the announcement of a formal sales process as a gift as it has been campaigning aggressively for change at the top of the company, including levelling accusations of corruption and calling, unsuccessfully, for the ousting of the company's chief executive.Worldview secured support for proposals which had been tabled for an extraordinary general meeting back in October, but that meeting was cancelled by Petroceltic after the company secured an injunction blocking the meeting from the High Court of Ireland.Alongside being unhappy about the management at the company, Worldview was desperate to block a proposed USD175.0 million bond issue which Petroceltic intended to secure against the Ain Tsila gas project.Investors seem to be in favour of the potential takeover, with Petroceltic shares trading up 36% to 15.62 pence per share on Friday morning.In October 2004, Petroceltic's share price hit an all-time high of 224.0 pence, but Petroceltic shares have fallen by around 93% since then.One of the reasons the share price has risen Friday is because investors were fretting after The Sunday Telegraph reported the company was fighting to survive and had appointed restructuring specialists from PricewaterhouseCoopers to prepare for possible administration - claims that Petroceltic has not directly responded to.By Joshua Warner;; @JoshAllianceCopyright 2016 Alliance News Limited. All Rights Reserved.Alliance News
gerhart: This is so sad for you PCI-ers. How did it ever come to this, even with the whole oil share price fiasco??! Between 2009-11/12 I had far too much in here and I just slowly gave up and long since been out. Do any of you regulars have any idea what true realisable value is here now? (being realistic in current climate...where even production assets are marked down in share price ..and potential prospects are being valued at very little). Some remark WV won't just give up, but in current climate they might just have to. Or do they have the fire-power to do something meaningful.... Very tempted to take a punt. But good luck to all - especially all those whose names I recognise from long ago!
hayfield: Not so sure that theirs such a great opportunity recovery if any from this low share price will be long, slow and hard fought. Whats strange though is that this is the 6th price monitoring extension in 12 days. What is causing this? It looks to me like the share price is been manipulated at this stage as today the volume was only 91k shares traded yet theirs still need for a price monitoring extension. something doesn't add up here.
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