Member Info for ramerci73

Dang it, by posting that I ruined our similarity.

224 posts. Snap!!!!!! Quick like that.

You have to be quick to get that extra 0.5p. But god bless you you stuck to your guns and didn't sell. Tomorrow try the old "hey look over there, a dinosaur" trick. By the time those Wiley chaps know what's happening you can sell your shares. Be quick mind!!!

They didn't drop that much. Why didn't you just take 0.5p less?

I think you are spot on there. If we can break the £1.70 mark we are doing well in the face of news from Egypt and Kurdistan. But it is an if....

Davy's an irish stockbroker have today reported on the latest news from Petroceltic. They indicate that their price target for Petroceltic is 514p per share and say that todays news does not change their valuation. http://static.rasset.ie/news/business/morningrep/download/2013/1213davy.pdf This is fairly positive in the face of a setback. I have to admit it is not the news I was expecting, but nonetheless I will remain positive as it is only a delay. Lets hope that the next piece of news is more positive. I still expect more news before Christmas. Ramerci

I second that. Good reporting. Good assumption too. Spot on.

He he, people say the same thing about me.

That sounds whimsical doesn't it. But there is method to my madness. I'm saying September because by September I expect the following. 1. Gas in Bulgaria. Price effect 10-20 pence/successful drill. 2. Oil in Kurdistan. Price effect 40-80 pence/successful drill. 3. Oil in Egypt. 40-80 pence per successful drill. 4. Conclusion to Algerian farm-out. 8-14 pence. 5. Payment from Egypt of outstanding money. 8-14 pence. 6. Full listing. Price effect unknown. But exposure to larger investment base a huge bonus. Overall effect should make petroceltic an attractive takeover target.

I can't really advise you there lucentum. I bought 38k shares at £1.51 and another 11k at £1.5275 so I've also seen them dip and climb over the past three months. But perhaps my situation is different to yours. I have raised my children. I am a widow and I am comfortable with my retirement. In short, I can afford to wait. I will probably hold out until next September. Come rain or shine. Then in the meantime I will be looking out for my next investment opportunity.

Thanks. That is a very interesting assumption to make. I looked at Beach Energy drilling report update and it suggests rig is on its way to new location. I am now looking even more forward to this next RNS.

Where are you getting your information? Are you using GPS? How do you come to the conclusion that there will be a big delay? Just curious

Well it was anticipated. Share price was expected to retreat in the early part of the week. Now that's out of the way who knows which way it will go. But on a positive note here are a few items of interest we should all look out for: 1. We should soon hear about schedule of payments from Egypt. 2. We should have more news on Algerian farm-out and payments related. 3. News regarding the spudding of drills in two different sites. 4. Hopefully, and this is really what I am looking out for more than anything else, news confirming date for full listing. On top of this we might, and I stress might, have some indications of success in Kurdistan. We are now circa 93 days into a 150 day project. I can't estimate depth because there were some minor delays, but marathon oil had their first indications at about 1000 meters. Who knows. It might be a good Christmas.....

Not to put a damper on things but I would not be surprised if share price retreats on Monday. It appears to be the trend with this share. Two steps forward, one step back.

Thanks offerman. I got my information from the oil barrel conference, I think. Either that or a message from Tom on the iii site. In fact I would say we are owed more than 124$ million as we did not stop producing in the interim. It would be good to get 60 million before Christmas. It would do our case for a full listing a world of good. I was delighted and surprised to see SP break the £1.60 mark. I am sure the BB's will be buzzing over the weekend.

I wouldn't be surprised if we finished this week's trading at £1.52. I haven't seen it approach its potential even on the cusp of good news.

Needed money for Christmas.....bought in low enough to make short profit......left the computer on with the kids around.....or just wanted to get out. Who knows. Its not exactly a big buy/sell. Just relative to the days trading it appears so.

That I cannot say because I don't know. But in any case PCI are now committed to Egypt. Not because they are waiting on money but because it now represents a significant revenue producer. I think that we will soon hear about plans to increase production by 2-3 thousand barrels per year. One of the reasons production was scaled back was because of the situation with payments. If Egypt wants to retain its newly earned financial status it will have to show that it can pay its debts. If it wants to attract new investment in its oil producing (revenue generating) infrastructure it needs to show investors that it pays its debts. The long and the short of the story is that Egypt needs to pay its debts.

Egyptians owe circa 124 million dollars. Your assumption may be correct but there is no way to know what the scheduled or scheme of payments might be. Egyptians say they will have paid all debts (to oil companies) by end of 2014. They have promised to start paying us back by year end 2013. This could mean 40 million staggered payments over a calander year or two payment's etc.

So your that offerman. I have enjoyed and often quoted your posts. Keep up great work