Member Info for ramerci73

http://www.independent.ie/business/irish/petroceltic-adviser-to-claim-it-is-due-millions-29779194.html Here is a link to the whole article published in the Irish newspaper the Irish Independent. I stress full article because the section posted below conveniently leaves out the fact that PCI have already won a similar case on almost identical grounds.

Do you know that PCI has already won one case and is sueing to have €5 million returned. The second case is said to have the same legal principle and therefore it is very highly likely that PCI will win on the same grounds. Not surprising to law enthusiasts as a contract made on a fraudulent basis is null and void in the eyes of the law. I contest that this is not the reason for today's price drop. Because of PCIs high probability of success in this case it is unlikely to have any material bearing on PCI's decision to go for a full listing. It could be a tree shake as suggested by Carp below. I think it is market movers asserting pressure to depress sp. If they can influence SP down enough then they can buy in and influence SP back up again. Today's losses were based on thin trade not some massive sell-off.

What are you talking about? The legal action has been mentioned in the last two company updates. Look at oil barrel presentation. Please try to add only useful information for discussion and not some theory you dreamed up after a bad potato....

Now would be ‘as good a time as any’, to use an Irish expression, for management to release an update on what is happening. Specifically I would like to know: 1. When are we going to go for full listing on both London and Dublin stock exchanges? 2. What news from Egyptian payments owed. 3. Algerian farm-out update. 4. Italian update. 5. Kurdistan update (how well is drilling progressing). 6. Romania (have we commenced with second drill hole) update. 7. Output targets, have we met them so far this year. 8. Any other business. My fear is that with a lull in news from activities there is nothing for speculators to get enthused about. Share price will edge downwards. What we need is an accurate update and soon. Good news would be a bonus. But a factual update is the minimum we need now. If there is no news forthcoming then realistically the share price could be in the 140-148p region by two weeks time. Even news that we have spudded in Romania for the second drill would be a positive event. Certainly confirmation that we have received payments of outstanding debt from Egypt would be a big bonus. If we are informed that the farm-out in Algeria is signed off that would be a positive outcome. PCI shares don’t always reflect the positive sentiment presented in the news outcome, but it would serve to support the positive sentiment that has been growing recently. Now the lull is starting to breathe uncertainty.

:)

Obviously you don't speak French.........just like me. There was nothing to support your suggestion that I was "ramping". Just because I was writing in French (very poor French) doesn't mean you have to get paranoid. I only reiterated my belief that PCI have very good prospects for the future. I also wanted to explain why I have a positive outlook on life. But as you say "all conversations to be in English", so I will endeavour to only converse in English from now on. Thank you warden……

Kame vous remercie, Vous semblez en savoir beaucoup sur cette méthode. Peut-être que vous aimeriez discuter déconnecté de sorte que certains de vos secrets ne sont pas révélées . Pour moi posititivity est un état naturel . Je suis béni avec optimisme. Mais je ne peux symphatise avec des gens qui ne partagent pas mon attitude positive. Après tout, tout le monde ne peut maintenir une perspective optimiste quand ils ne sont pas nourris nouvelles positives sur une base quotidienne . Avec cette société il ya plus de potentiel de croissance et de profit que la plupart des sociétés d'exploration . C'est parce que nous avons déjà découvert du gaz et du pétrole ailleurs. Assez non seulement pour financer l'exploration future , mais aussi de maintenir une marge bénéficiaire saine . Nous ne sommes pas encore là, mais où l'Algérie commence à produire des gaz raffiné notre part de 38 %, il sera très profitable. Petroceltic ont des plans financiers et avancé pour 16 cibles d'exploration dans les 18 prochains mois. Nous avons déjà vu gaz (accordée , pas assez pour être financièrement viable ) en Roumanie, et nous avons maintenant une meilleure idée de l'endroit où regarder prochaine . Au Kurdistan , nous avons de nombreuses données reflétant un champ pétrolifère très probable. Notre exercice, il a une grande chance de succès. Nos voisins ont déjà trouvé du pétrole dans deux zones limitrophes. Pourquoi ne pas envier mon optimisme ........

The way it is going, all things going to plan, we will have two wells coming in with results at the same time now. I am discounting rumors of early oil in Kurdistan because Hess don't do rumours so any such talk is speculative. Just because Marathon Oil had early signs does not mean we will have any (or to be more exact, it will be unlikely that there will be any announcement if we do because Hess won't allow it). I imagine our second Romanian drill won't start for a few more days. I don't know how long it takes to maneuver a rig but I expect it is slow going. That said I am more confident in both sites providing results considering the proximity of both sites to recent discoveries. Regardless of size of directors relatively recent dealings, I am not bothered either way. I think they are making significant and effective decisions. They appear capable and confident. They provide timely and clear updates. I am sure they will drive this company forward.

There was a substantial trade on Friday at 15:59 of 583000 shares. It did not register as either a buy or sell. I don't know how to establish which it was but would be very curious to know. It would simply give an idea of how the big buyers are thinking. A big buy of that magnitude would indicate to me that the folks normally "in the know" see an opportunity. A big sell would indicate the opposite. Its just a barometer of sentiment either way and not a reliable or sure strategy for measuring the market.

2.1 Tcf of sales gas and 175 MMbbl liquids (comprising 67 MMbbl of condensate and 108 MMbbl of liquid petroleum gas or "LPG") from the Ain Tsila field during the 30 year PSC exploitation period. This plan anticipates a recovery factor of 24% of GIIP. The figures quoted are based on the assumption of 24% recovery rate. As you stated offerman, this is done to error on the safe side. Not delivering contracted production figures for any reason is subject to harsh fines. Therefore at minimum it could be extrapolated that actual size of the "elephant field", "10th largest gas find ever", "size of London" is 2.1Tcf divided by 24 (24%) and multiplied by 100. Circa 8.5Tcf plus 4 times the rest and hey presto 10Tcf gas equivalent at a minimum. Still its the recovery factor that is important so again as you stated offerman the 24% recovery rate is plainly a means of protecting the posterior and as PCI state on their website "this figure will likely rise over time".

Thanks offerman, I got that figure from the Davy website. I think they are an Irish stockbroker. Thanks for the correction. Still would indicate that we are worth a significant amount more than our current share price. Still I am happy to see that at least we not have a figure to compare against if we decide to sell off Algeria. I hope this does not happen and that we go into production. I still think we need a full listing more than anything else.

That would make Petroceltics interests in Algeria worth close to $2.4 billion. Am I suddenly gone mad? Has anyone else looked at this? Please do and correct me if I am mistaken please. If I am not incorrect then our Algerian asset alone would make our SP somewhere in the region of 6 times undervalued. In other words based on a $2.4 billion price tag on Algeria and taking exchange rate into account we should be trading at circa £9 a share???? Please someone, do the calculation and let me know if I am sane please. This could be a very good Christmas.....

http://www.lse.co.uk/FinanceNews.asp?code=lv79pj9e&headline=ophir_agrees_$13_bln_sale_of_stake_in_tanzania_gas_field

UPDATE 1-Ophir in $1.3 bln deal with Temasek unit for Tanzania gas This deal was for a 16% stake of 15TCF field. PCI hold 48% of a 10.6TCF field.

Very good Bluefox. But on a serious note the presence of sandstone in the area is encouraging. Frankly I am surprised Brian yielded this information so willingly. I have been trying to establish a link with the geophysics people in Beach Energy to get exactly this kind of information. I was politely told to take a hike. The presence of sandstone is not in itself a “big deal”, but petrology will help to determine the age and composition of the rock. Other indicators can also be extracted from these samples. Basically, we will get a kind of signpost pointing us in the direction of gas or oil (“presence of a working petroleum system in the area of Block EX-28”). Then using this information and other information the geophysicists already have from their seismic scans, we will be able to more accurately (greater than the 25% likelihood we had with this last drill) predict where gas/oil exists.

1. Full listing on Dublin and London stock exchange. 2. Gas find in Romania 3. Oil in Kurdistan 4. Oil in Egypy 5. Drilling green light Italy 6. Payment from Egyptian government for outstanding debt 7. Compleation of farm out agreement in Algeria. 8. Anything else positive you can think of Santa

Something is certainly happening. The 600K buy in today suggests (no evidence) that there is activity in the market. Is there any other confirmed news from drills yet? I said Kurdistan could not have yielded results yet because they are only circa 93 days into 150 day drill, but I read on iii website that Marathon oil had oil indications at 1200 mtrs. Hess don't do information publishing to the same extent (understatement) as Beach Energy. So if there is info out there it has to be unofficial.

There you go. I have just translated a two year old article. Goes to show how easily news can be misquoted. Thanks for the head's-up

Google translate. What can I say

Bluefox, here's the translation: After much talk and many feints, Gianni Chiodi and his council decided not to appeal to the Administrative Court against the drills in the Adriatic. He did the Puglia region , have done municipalities and associations - Vasto , Manfredonia , Vieste, Rodi Garganico, Vico del Garganico , Peschici , Termoli , Legambiente , WWF and Italy Nostra. He has not been able to do in Abruzzo. Okay, not that we expected anything different from Gianni Chiodi and his junta. They also voted against the gentleman and the elegant Emilio Mauro Febbo Nasuti . In a few months or a few years will come out judgments of the Administrative Court , for better or for worse. And whatever the outcome of these appeals , Gianni Chiodi and his cronies can not say or do anything if you do not feel ashamed . If the appeals are lost, it will be 'even their fault if the auger Petroceltic in Vasto . If the appeals are won , no one even dared to say " we are satisfied " as they did for croaker , 'cause the behavior of Gianni Chiodi and his council and ' shameful . With him, that those who have decided that drilling off the coast of Vasto and Pescara and not ' none of their business . Ccorre of these names to remember in the next election , and is not ' my fault they all center-right . The election will come , will come.