Member Info for ramerci73

I would like to thank Tom and the management team for their timely update. I am sure I cannot have been the only investor asking for an update, but I am delighted that Toms reply coincided with my e-mail and addressed all of the questions I highlighted. I am also upbeat about the positivity in his message. I know he has to be careful not to give false impressions or mislead people. I know he also may not give away too much, however I get the feeling he himself is quietly confident with things at the moment.

As you know I sent an e-mail to Tom Hickey last week. He posted a message on the iii website this evening. Hi Swaltz, Kurdistan is probably the focus of most attention at present (and Brian is there this week visiting the wellsites and a major industry conference). Shakrok is drilling ahead and while there have been a few delays, the general timeline of February announcement/update seems reasonable, and the analogous discoveries in recent months (as well as encouraging infrastructure and sales announcement in recent days) mean the overall environment remains positive. Amongst the things to be discussed on Brian’s visit are the protocol for announcements, etc – not an indication of anything, and the JOA or licence agreement is pretty clear, but better to be safe than sorry given the relatively tight nature of the industry in country. In Romania, while we were disappointed with the first well result, the reservoir quality encountered was significantly better than even our most optimistic projections (based on regional analogues, this is quite a new exploration province), meaning the 400 bcf guided would have been maybe twice as big if gas charged…so we need to figure out the plumbing! The next well is entirely geologically independent so no additional or different risk from the 170 bcf at 29-43% we guided. In Algeria, we’re forging ahead on project stuff, most notably related to the FEED (Engineering and design) contract tendering process, and also on finalising the “Avenant” or PSC amendment required to give effect to the Sonatrach pre-emption – guidance on this is pre year end, all going well. Egypt seems to be gradually regaining some stability following the counter revolution in June and we’ve had a number of meetings with EGPC/EGAS Chairmen, ministers and others which confirm their appreciation of PCI’s commitment to the country (new licences, increased gas production for a period when requested during Ramadan, frequent visits) and intention to make significant payments to international Oil co’s including PCI over the coming weeks. The Country’s sovereign debt rating was recently upgraded for the first time in ages also, and the roadmap of constitutional referendum, parliamentary and presidential elections looks reasonably well set. Interestingly I’ve met in recent weeks (on the conference circuit) with management of TransGlobe, Circle Oil and SeaDragon, and all share similar sentiments. Maybe there is a Santa, both for us and for Egypt. Next Newsflow is likely Avenant Signature, and 2013 Guidance outturn/net debt/2014 work programme, etc in early Jan. Tom S

I think we should just stick to the script. Its ok having an occasional joke or two but the real discussion should remain on PCI. With that in mind please see topic below "big boys will have to buy in....etc. I for one think this will have major implications for PCI in a positive sense

On cover = uncover in bad English

I didn't actually on cover this article, a blogger called earthly on the iii website found it. I am simply re-posting because it is such a crucial story. Well done earthly for posting this. INVESTMENT EXTRA: New Kurdistan pipeline has transformational impact on region's oil industry By IAN LYALL PUBLISHED: 22:01, 29 November 2013 As a feat of civil engineering it is fairly unremarkable. But the 25-mile Dohuk to Fishkabur pipeline, built to transport crude from Kurdistan, will have a transformational impact on the oil industry of this semi-autonomous region of northern Iraq. It also represents a major landmark for a handful of London-listed explorers. For it appears a great gamble is about to pay off for Genel, Gulf Keystone Petroleum, Afren and Petroceltic, four firms that have taken a punt on the region. Finding oil in Kurdistan was never a problem – the reserve base is huge at an estimated 45bn barrels, prompting Genel’s Tony Hayward to describe at the last great oil frontier. No, the major impediment has been reliably shipping the oil to market and then getting paid for it. Friction between the national and regional authorities made the process difficult. By creating its own infrastructure and setting up an independently-administered escrow account to pay contractors, Kurdistan has neatly avoided the road-block. Dohuk to Fishkabur is the final phase of a three-stage building programme that links in oil facilities in Khurmala to the south and the Genel operated Taq Taq field in the Zagros Basin. It will halt the procession of oil tankers used currently to get the oil to market. That said, Gulf Keystone, London’s other Kurdistan producer, will be relying on the road route some time to come as the heavy oil from its Shaikan field can’t be piped for long distances without first being blended or heated. Experts say the development of this vital new piece of infrastructure is more than simply a conduit for exports. It is emblematic of the thawing of relations between Kurdistan and Turkey, which would have seemed unlikely even a couple of years ago. And it goes further than a little cross-border co-operation. Ankara has set up the Turkish Energy Company that has teamed up with Exxon in Kurdistan to work on 13 blocks there. Kurdistan, meanwhile, is reported to have struck deals with Chevron and Total. The interest of this trio of oil majors hints at the next phase for Kurdistan – consolidation. The big firms that are currently locked out of Kurdistan will have to buy their way in, while those resident there will look to build their positions through acquisition, analysts say. And this has some very interesting implications for our hardy band of UK explorers. Gulf Keystone had been a long-rumoured bid target, although its unfortunate legal spat with Excalibur Ventures has put a dampener on speculation.

Excellent Scout06, you get an A+ for effort and A++ for humor

Thanks Bluefox, However there is no need to worry. If you read exactly what I have written you would see that there is absolutely no indication or any suggestion of racism in my remarks. I think people will all agree that the use of the phrase racism is used in error all too often. The mere suggestion that someone uses racist commentary is enough to immediately turn people against that individual. Indeed I think that the misuse of the term by people who wish to influence an argument is deplorable. “Oh you’re a racist so” and “we think you are a racist”; such terms normally kill an argument. I however will not be bullied. You will find that any points I have made during my commentary are correct factually (although I have on one or two occasions tried to lighten the conversation with levity and jest, I have played with the sound of words and names). But you will not find any suggestion of racism. That was a suggestion made by Curison to try to kill the argument.

O.K, O.K, so it is obvious that you know how to use a PC. At least you know how to turn it on and where the internet browser is located. You also have mastered the art of copying and pasting documents. You also have some small skill in creative writing as demonstrated below. But in the interest of good English, would you please discover the rewards offered by the use of spell check. And I am not talking about black magic here. I am saying that even the most banana fingered individual (banana fingered being an affectionate term for finger size relative to key size, not a derogatory term used to describe your fingers) can correct most typing errors using this utility. And if you think this is me being terribly haughty and British, defending our language from the ravages of those who would otherwise do it harm then I have a big surprise for you. English is not my first language. I just go to the bother to correct the grammar every time I write something (with the exception when I am writing on my phone, because it doesn’t have the facility to grammar check).

In Petroceltic's Irish High Court case, lodged during the summer, it alleged fraud, naming defendants Abdelly & Associes, Samir Abdelly and an individual named Maza Seghir in relation to consultancy agreements related to its north Africa activities. On November 11, Judge Peter Kelly granted judgement to Petroceltic that rendered agreements with Mr Seghir null and void. Proceedings against Mr Abdelly, which are believed to be on identical grounds, are ongoing. Petroceltic's legal advice was that original agreements constituted "a fraud on the company" and has consequently issued legal proceedings to have them declared void.

In Petroceltic's Irish High Court case, lodged during the summer, it alleged fraud, naming defendants Abdelly & Associes, Samir Abdelly and an individual named Maza Seghir in relation to consultancy agreements related to its north Africa activities. On November 11, Judge Peter Kelly granted judgement to Petroceltic that rendered agreements with Mr Seghir null and void. Proceedings against Mr Abdelly, which are believed to be on identical grounds, are ongoing. Petroceltic's legal advice was that original agreements constituted "a fraud on the company" and has consequently issued legal proceedings to have them declared void.

Ah, the racist card. Really are you calling me a racist or is that your attempt at ending a loosing arguement? If it was an attempt at humor you may stop. Your comments are amusing enough. Dr adbelly went to one of the top 5 pressthepigus colleges indeed. I'm going to bed now. There is a smile on my face. And though you called me a racist I know you meant realist, but couldn't spell it.

That my friend is the kernel of the matter. I repeat my earlier comment, a contract based on fraud is deemed ineffectual, bears no weight, is not enforceable or whatever term you wish to use, in the eyes of the law. This is the case with British and international law. Secondly, Dr. Abdelly you say is a formidable businessman from a legal background. Would you please state which institution awarded his doctorate. Thirdly, petroceltic have a formidable legal team of its own. If you think Algerian legal personal are shrewd you might want to consider why Mr. Seghir lost his case. And don't say it was because he failed to turn up for court.

In Petroceltic's Irish High Court case, lodged during the summer, it alleged fraud, naming defendants Abdelly & Associes, Samir Abdelly and an individual named Maza Seghir in relation to consultancy agreements related to its north Africa activities. On November 11, Judge Peter Kelly granted judgement to Petroceltic that rendered agreements with Mr Seghir null and void. Proceedings against Mr Abdelly, which are believed to be on identical grounds, are ongoing. Petroceltic's legal advice was that original agreements constituted "a fraud on the company" and has consequently issued legal proceedings to have them declared void.

Your spelling of afraid is incorrect.

Thank you Mr adbelly for your frank and forthright account of the court case. Have you had more bad potato????

Hey, I was wrong. Share price went up. That's the second time I was wrong in my life. The last time was when I thought I had made a mistake....

You wont have to wait long. I see a trend developing. Share price will start to fall off today around 4pm. I expect it will drop by 1-1.5 p today.

I mean, look. The share price is just creeping down. We need news urgently.

I get the impression that we will be looking at 145p by end of trae tomorrow. No News, no demand. Small trade volumes, dwindling price. We need news from BOD. Just keep us up to date. We know there is allot of activity and planned activity, but without news investors loose patience.

Hi Bluefox, I registered with the iii website to try to do the same. Tom posts on that BB as Swartz. I haven’t heard anything from him for some time now. Obviously there is allot going on. I might try to e-mail him today. In my opinion the BOD are normally on the ball with communications. I consider Tom to be great addition to the BOD. Brian is good but getting Tom in was a very clever move from the BOD. I will e-mail Tom now and pose the few questions below. I will have to inform him of my intention to post the answers on here; I don't want him to feel cheated if he reads some of his replies on this bulletin board. Anyway it is the polite thing to do. I will post anything I hear back. But honestly I expect there to be an RNS next week to update investors anyway. Cheers, Ramerci