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High risk stocks (Petroceltic)

  • 20-12-2010 3:59pm
    #1
    Closed Accounts Posts: 657 ✭✭✭


    Hi, I'm looking at shifting a small percentage of my port-folio higher risk stocks such as Tech startups or Oil and gas exploration. I was looking at Petroceltic (because of the weakness of the Euro Vs Sterling stocks)
    stocks but don't really know much about them, they seem to be loss making for the last number of years. Are they a case that if they strike oil then the stocks will sore or are they just a drill company with no ownership of the wells ?


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Comments

  • Registered Users Posts: 426 ✭✭poodles


    Shauny2010 wrote: »
    Hi, I'm looking at shifting a small percentage of my port-folio higher risk stocks such as Tech startups or Oil and gas exploration. I was looking at Petroceltic (because of the weakness of the Euro Vs Sterling stocks)
    stocks but don't really know much about them, they seem to be loss making for the last number of years. Are they a case that if they strike oil then the stocks will sore or are they just a drill company with no ownership of the wells ?

    I recommend you look at Range Resources (RRL)


  • Closed Accounts Posts: 562 ✭✭✭Comordha


    More proof of the Mammoth find Petroceltic have. Dump your bank shares and get in here, 2011 is going to be a game-changer for this company. A gas field the size of greater London can only go unnoticed for so long.

    Petroceltic International plc
    Algeria Operational Update


    Better than expected AT-4 well encounters 155 metre gross gas column
    Pressure and gas column continuity confirmed on the eastern flank of the field
    Well suspended for flow testing later this month
    AT-5 spudded on January 9th
    Petroceltic International plc (“Petroceltic” or “the Company”), the upstream oil and gas
    exploration and production company, in association with its partner Sonatrach, the
    Algerian National Oil & Gas Company is pleased to issue an operational update on its
    Isarene permit in the Illizi Basin in South Eastern Algeria.
    Well AT-4, the first of a four well appraisal campaign, was successfully drilled and
    completed within budget. The well commenced drilling on 16th November 2010, and
    reached total depth of 2142 metres on 18th December 2010, having successfully cut and
    recovered 48 metres of core in the objective Ordovician Unit IV reservoir sequence.
    AT-4 is a vertical well located approximately 10 km to the east of AT-2 and is the first
    well to be drilled on the eastern flank of the field. The principal objective of the well was
    to determine the nature and extent of the gas in place in this previously undrilled area of
    the field.
    The well encountered a gross gas column of 155 metres with no gas-water contact
    observed. Additionally, static reservoir pressure readings indicated that the main
    Ordovician gas reservoir in this area is in the same pressure regime as that encountered
    at wells AT-1, AT-2, and AT-3.
    Completion operations on the well finished on 27th December 2010 when the rig was
    released to move to AT-5. The well has now been suspended, pending rigless fracture
    stimulation and flow testing over the coming month.
    Appraisal well AT-5 was spudded on 9th January 2011 and has an expected drilling
    duration of approximately 65 days. This well is targeted at a “pop-up” feature to the north
    of the Ain Tsila field, where natural reservoir fracturing in combination with the near
    horizontal well bore trajectory may lead to enhanced productivity. The well will be drilled
    first as a semi-vertical pilot hole, and then sidetracked as a deviated well with a 450
    metre horizontal section through the objective Ordovician reservoir.
    Brian O’Cathain, Chief Executive of Petroceltic, commented:
    2
    “The first well in the current Ain Tsila appraisal campaign has successfully achieved its
    objective of confirming the presence of a gas column with pressure continuity on the
    previously undrilled eastern flank of the field. Whilst AT-4 was designed with a primary
    focus on proving up gas in place rather than productivity, we are optimistic for a positive
    outcome from testing. The next well in the appraisal drilling programme (AT-5) will test
    the potential for encountering natural fractures in horizontal wells, in addition to the
    potential for multiple fracture stimulations to improve productivity and recovery factor for
    the field”.


  • Closed Accounts Posts: 657 ✭✭✭Shauny2010


    Picked up even more shares today on the news ( There definitely top heavy on my port-folio now),
    Its hard to pin-point what was holding down the share price over the last 12 months maybe factors such as BP did; This Gas field may be as Big as they said after all !!!
    As more and more results like this come in then the sp is going to rocket

    I wonder will Tullow Oil end up partnering them on this


  • Registered Users Posts: 16 swagger121


    up 12% to 14.5p already today. youve made a decent return already shauny!


  • Closed Accounts Posts: 657 ✭✭✭Shauny2010


    swagger121 wrote: »
    up 12% to 14.5p already today. youve made a decent return already shauny!

    This is still early stages,if that gas field turns out as big as they say then the shares will go close to £1


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  • Closed Accounts Posts: 562 ✭✭✭Comordha


    I'm in vewry deep here too. Been in for a while so sitting on a nice profit. Even though there are still risks I feel very confident in the management. This is worth a read too - http://www.sgam.co.uk/petroceltic-latest-ain-tsila-well-prompts-upgrade-from-davy/

    Unfortunately for me, for now, I made a decision to top this up instead of Petroneft before it increased some five fold in value. I would have been a very rich money otherwise but still very confident I can someday make a similar type of return on this one.


  • Closed Accounts Posts: 657 ✭✭✭Shauny2010


    Comordha wrote: »
    I'm in vewry deep here too. Been in for a while so sitting on a nice profit. Even though there are still risks I feel very confident in the management. This is worth a read too - http://www.sgam.co.uk/petroceltic-latest-ain-tsila-well-prompts-upgrade-from-davy/

    Unfortunately for me, for now, I made a decision to top this up instead of Petroneft before it increased some five fold in value. I would have been a very rich money otherwise but still very confident I can someday make a similar type of return on this one.

    The door hasn't closed yet for getting in on this share but By the time The next well in the campaign AT-5 is drilled it may be too late to buy in. From then on it will be a hold and see what happens situation.
    It was a fair bold move alright to drill AT-4 so far from AT-2 lets hope the next one comes in ;)

    As for Petroneft, theres always one that gets away; I could be moaning for the next 10 years about all the what ifs


  • Registered Users Posts: 202 ✭✭muppet_man


    Shauny2010 wrote: »
    The next well in the campaign AT-5 is drilled it may be too late to buy in.

    Any idea as to when this well will be drilled and results known?


  • Closed Accounts Posts: 657 ✭✭✭Shauny2010


    About 65 days but it could be sooner, the last set of results came in earlier than expected


  • Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    when you try and purchase this share via goodbodies , two options come up , one is petroceltic ( lse ) , the other is petroceltic international plc

    stupid question i know , i realise LSE is london stock exchange but are they one and the same company


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  • Closed Accounts Posts: 1,803 ✭✭✭dunkamania


    Yes they are, liquidity is usually better in London, if memory serves.


  • Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    dunkamania wrote: »
    Yes they are, liquidity is usually better in London, if memory serves.

    plus sterling is likely to stay strong against the euro in the short term


  • Closed Accounts Posts: 1,803 ✭✭✭dunkamania


    If you are a cash buyer, than your return will be identical, whether you buy the Euro or GBP line. The company's accounts are in USD, so the EURUSD rate is probably more important.


  • Registered Users Posts: 222 ✭✭Dude240502


    If the results were that positive, it didn't rise by very much, are there a lot of important dates still to come? Is Xcite not a better Investment in he short term?


  • Closed Accounts Posts: 562 ✭✭✭Comordha


    I'm happy with 12.5% in 1 day and then it holds the next too.


  • Closed Accounts Posts: 657 ✭✭✭Shauny2010


    Dude240502 wrote: »
    If the results were that positive, it didn't rise by very much, are there a lot of important dates still to come? Is Xcite not a better Investment in he short term?

    This is more speculation than investment, theres more tests to be done all of which aim to find out how much Gas they can extract.
    As for Xcite it may well be a better short term but for me its another stock I have to go and research and I ve already done that with enough stocks for now

    Range resources is still also good punt though and offers good short term prospects


  • Registered Users Posts: 44 pokerface11


    I have a small holding on this stock but looking to add more. Its a speculative buy but could turn out to be a good reward. What is the general consensus for SP December 2011?


  • Closed Accounts Posts: 657 ✭✭✭Shauny2010


    I have a small holding on this stock but looking to add more. Its a speculative buy but could turn out to be a good reward. What is the general consensus for SP December 2011?

    Depends, at the moment 16p
    By the end of this Algerian appraisal campaign probably 30-40p if results are good (or 5p if not!!). That will be about it for 2011 unless they get the go ahead to recommence operations off the coast of Italy which could add a bit more to the sp


  • Registered Users Posts: 426 ✭✭poodles


    Shauny2010 wrote: »
    This is more speculation than investment, theres more tests to be done all of which aim to find out how much Gas they can extract.
    As for Xcite it may well be a better short term but for me its another stock I have to go and research and I ve already done that with enough stocks for now

    Range resources is still also good punt though and offers good short term prospects

    Shauny did you buy back into RRL?

    Next week should be big.


  • Closed Accounts Posts: 657 ✭✭✭Shauny2010


    I did, I had got stopped out at 8p and bought back in twice as many at 7.6p
    Ive since decided to push the stops back to 6.5p so I could take a loss but I don't see a choice as these penny shares jump about too much:)
    I'm in for just a nice few K between Petroceltic and Range so I`ll lay off buying any more for now


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  • Registered Users Posts: 426 ✭✭poodles


    Shauny2010 wrote: »
    I did, I had got stopped out at 8p and bought back in twice as many at 7.6p
    Ive since decided to push the stops back to 6.5p so I could take a loss but I don't see a choice as these penny shares jump about too much:)
    I'm in for just a nice few K between Petroceltic and Range so I`ll lay off buying any more for now

    I wouldn't put a have a stop on any AIM share...that said, I'm not working so I'm able to keep a close eye on my stocks. I think we could test 12p next week with RRL.


  • Registered Users Posts: 16 swagger121


    anyone consider selling? i bought in at 15.5p about 2years ago so will have to wait a while yet!


  • Registered Users Posts: 567 ✭✭✭SC024


    Yes am in for about 4years now, doing ok...
    Am also in Matra Petroleum LSE:MTA and Roxi Petroleum LSE:RXP

    Bought a very small amount in amerisure LSE:AMER mid september @ 0.139 pence, todays closing mid price is 20.5 pence


  • Registered Users Posts: 16 swagger121


    wot price did u buy PCI at, i doubt they will reach davys price target of 30p!


  • Closed Accounts Posts: 927 ✭✭✭turbobaby


    I have done a little bit of research on this, and very much considering getting on the bandwagon with about €3k worth of shares.

    Have sold out of my USL oil ETF and looking for a riskier play, which this certainly is.

    Good luck to all over the next year!


  • Registered Users Posts: 567 ✭✭✭SC024


    swagger121 wrote: »
    wot price did u buy PCI at, i doubt they will reach davys price target of 30p!
    Got in about 10.25 pence. I wouldn't pay much attention to Davys Targets, They were tipping Aib & Boi till 12 months ago


  • Closed Accounts Posts: 927 ✭✭✭turbobaby


    SC024 wrote: »
    I wouldn't pay much attention to Davys Targets, They were tipping Aib & Boi till 12 months ago

    Completely agree!


  • Registered Users Posts: 222 ✭✭Dude240502


    Does anyone know anything about Arian Silver, apparently there is an announcement of results soon, I've heard a lot of predictions for it?


  • Registered Users Posts: 426 ✭✭poodles


    Dude240502 wrote: »
    Does anyone know anything about Arian Silver, apparently there is an announcement of results soon, I've heard a lot of predictions for it?

    I've read good things about AGQ but decided against buying them as I though I had missed the boat - I since bought Ortac Resources OTC.L and have done a lot of reading up on the company. Great *measured* type of gold in the ground and they're expecting to increase their jorc estimate to 1million oz gold + within the next few days.
    The company is already undervalued on the existing jorc, never mind the upgraded jorc expected soon.


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  • Registered Users Posts: 1,368 ✭✭✭ranger4


    Very possitive RNs with 3 more due to confirm potentail algerian gas find size and volume of gas find also we should hear news of potentail farm in partner, I would rather hear news that pci is in postion to aquire funding to build plant and be in postion to exstract the gas from At-4 which could see buyout interest from one of the majors BP, or russians, either way PCI SP has potentail to rocket over next few months although we could see sp dip back to 0.15-0.16c support untill next hopefully possitive RNS is announced, I am in Large with this share and am confident it has potentail to easily reach 0.30-0.50c+ this year.


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