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High risk stocks (Petroceltic)

124678

Comments

  • #152
    Cavanjack
    Registered Users, Registered Users 2 Posts: 2,642 ✭✭✭Cavanjack


    Also with at-5 results due any day I'm expecting this share to rocket. I've been in this share for about two and a half years all the way from 5p to 19p and back down again. Was loosing patience with it but with all this cash I think it's going to be an exciting 6 months.


  • #153
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    As far as i know At5 are due in the 1st - 2nd week in July
    I stand for correction on this


  • #154
    sponge_bob
    Registered Users, Registered Users 2 Posts: 665 ✭✭✭sponge_bob


    i bought about 4500 shares in this company about 18mths ago, at the time good things were expected from them. but i see my investment has dropped alittle from .16 a share to .13.
    at the time they had a good few wells going in northern africa iirc, so i guess the recent unrest in this area isn't helping things on the ol' share front.
    anyone any idea if there is anything in the pipeline to give this company a boost? i see share prices of 40-60p are still being talked about, like it was when i bought in.


  • #155
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    sponge_bob wrote: »
    i bought about 4500 shares in this company about 18mths ago, at the time good things were expected from them. but i see my investment has dropped alittle from .16 a share to .13.
    at the time they had a good few wells going in northern africa iirc, so i guess the recent unrest in this area isn't helping things on the ol' share front.
    anyone any idea if there is anything in the pipeline to give this company a boost? i see share prices of 40-60p are still being talked about, like it was when i bought in.


    i cant think of a stock which has been more pimped on this site than petro celtic , i bailed out of this dog months ago , btw , a stock ive recently done well out of is mulberry plc , they are a upmarket fashion outlet , they posted very possitive results yesterday , they have an insanely high PE though so it might be a bit late to get in


  • #156
    cloonty
    Closed Accounts Posts: 22 ✭cloonty


    What an absolutely pants stock. I’m in this for nearly a year now and it’s done nothing.
    After my own basic research I really thought this was a good punt but I deeply regret it now.

    Anyway, can someone explain why the share seems be almost static in light of the positive news over the last months?


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  • #157
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Ehh what good news are you on about?
    All Ive seen this year is
    A: One ff-ed up drill at AT4 where for some reason they decided to keep drilling down into the aquifer , they looked very amateur
    An Arab spring
    Greek debt
    More director share options been granted to themselves

    were lucky the SP hasn't tanked altogether!!

    The positives are
    A farm-out deal which adds value to PCI but only when Gas is confirmed
    The price of Gas has risen by 30%
    An enlarged appraisal program which should add more assets to PCI but thats gonna take time

    I`m in until the results of AT5z flow results. Thats what really counts.
    the true share price rise wont come until Algeria is fully appraised and assets booked and thats not till 2012 the earliest!!!


  • #158
    cloonty
    Closed Accounts Posts: 22 ✭cloonty


    8.85. Thats the lowest its been in months.


  • #159
    josey_whale
    Registered Users, Registered Users 2 Posts: 284 ✭✭josey_whale


    Interesting to see what the move into Kurdistan will do to the price...

    Petroceltic International plc ("Petroceltic" or "the Company"), the AIM and ESM listed oil and gas exploration and production company focused on North Africa, the Middle East and the Mediterranean, is pleased to announce that, in partnership with Hess Middle East New Ventures, a subsidiary of Hess Corporation ("Hess"), it has executed two Production Sharing Contracts ("PSCs") with the Kurdistan Regional Government of Iraq ("KRG"). The PSCs are in respect of the Dinarta and Shakrok exploration blocks ("Dinarta" and "Shakrok") in the central north of the Kurdistan Region of Iraq.

    http://www.petroceltic.com/investor-centre/press-releases/pr-2011/2011-07-27


  • #160
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    After reading sentiment at rock bottom on iii and lse, I added to my small holding at 8.8p just before the Kurdi announcement and I'm also now disillisioned by the share price drop.

    Today's the last day of July and still no RNS on the AT5 results.

    It seems a lot of private investors are waiting to jump ship.

    I'll fight the urge to sell and hold!


  • #161
    hblock21
    Registered Users, Registered Users 2 Posts: 736 ✭✭✭hblock21


    I bought in last year at 16 cent. The second I break even, I'm gone........


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  • #162
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    Looks like we'll have to wait another day for the results. It must be because the ISE is closed today...


  • #163
    cloonty
    Closed Accounts Posts: 22 ✭cloonty


    Investors seem to be dumping this stock big time. 7p this morning.
    I bought in at 15p! I should never have bought into the hype.


  • #164
    irishh_bob
    Closed Accounts Posts: 5,700 ✭✭✭irishh_bob


    cloonty wrote: »
    Investors seem to be dumping this stock big time. 7p this morning.
    I bought in at 15p! I should never have bought into the hype.

    in future , be wary of pimps on this site pushing duds


  • #165
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    The CEO Brian O'Cathain is a sneaky c*nt in the way he has orchestrated this.

    Clearly this info was available to the institutional investors before today.

    He set expectations high with the previous RNS.

    Remind me never to invest in an Irish company ever again! Cronyism is rampant on this sh1tty island of ours...


  • #166
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Very sneaky indeed, I bailed out a few days ago after taking a 15% loss on my investment. This is the second time he delayed results obviously so that anyone in the know could bail.
    Brian O'Cathain has made sh1t of a very promising company


  • #167
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    Grecco wrote: »
    Very sneaky indeed, I bailed out a few days ago after taking a 15% loss on my investment. This is the second time he delayed results obviously so that anyone in the know could bail.
    Brian O'Cathain has made sh1t of a very promising company

    Indeed. Releasing the Kurdistan news prior to the drill results had two goals in my opinion.

    1. Bring in new buyers unaware of poor AT5 results
    2. Give IIs with knowledge of the poor results a platform to sell.

    Brian O'Cathain is dirt!


  • #168
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    Not great is it lads? I'm starting to worry about this one like everyone else but I said the day I invested that I was going to stick with it to the bitter end. I'll hold for 10-20 years if need be. A bit of luck is due surely, perhaps the Italy drilling will come back on stream soon with the debt problems they are now having.


  • #169
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Comordha wrote: »
    Not great is it lads? I'm starting to worry about this one like everyone else but I said the day I invested that I was going to stick with it to the bitter end. I'll hold for 10-20 years if need be. A bit of luck is due surely, perhaps the Italy drilling will come back on stream soon with the debt problems they are now having.
    You must have the patience of a saint!
    I couldn't stomach this pimped up share anymore regardless. It promised so much but delivers nothing. Anyway

    Best of luck and I hope it turns for you


  • #170
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    Just posted a query on the RRL thread relating to Petroceltic as it's a more active thread. Any help much appreciated.

    http://www.boards.ie/vbulletin/showpost.php?p=73636116&postcount=203


  • #171
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    Just posted a query on the RRL thread relating to Petroceltic as it's a more active thread. Any help much appreciated.

    http://www.boards.ie/vbulletin/showpost.php?p=73636116&postcount=203


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  • #172
    cloonty
    Closed Accounts Posts: 22 ✭cloonty


    I wonder if Brian still has his 750k invested?
    I put alot of money into this so im pretty fecked for the next while.
    What an absolutely pants company regardless of risk.


  • #173
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    turbobaby wrote: »
    Just posted a query on the RRL thread relating to Petroceltic as it's a more active thread. Any help much appreciated.

    http://www.boards.ie/vbulletin/showpost.php?p=73636116&postcount=203

    Thats a method used by short sellers who want to push the SP lower and from what you said it sounds like it was automated as well
    Basically it reduces the Asking price on the share because someone has just sold for less than the asking price so a new lower asking price is established


  • #174
    henryd65
    Registered Users Posts: 107 ✭✭henryd65


    Has this share become attractive at 6c ?


  • #175
    Thargor
    Registered Users, Registered Users 2 Posts: 17,964 ✭✭✭✭Thargor


    http://www.iii.co.uk/investment/detail?code=cotn:PCI.L&display=discussion

    On iii they reckon based on past form that this indicates the next news is known and its bad but some people think its too early for news to have leaked, today was horrible all round so who knows. Im not invested btw just watching.


  • #176
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    I noticed this was posted yesterday on the PCI forum over on ADVFN and just wondered what peoples' thoughts on it are from here:

    "....the suggestion put to me makes little sense but this is what I was told. It was suggested to me that Black Rock was shorting on shares it owned, and I could not udnerstand how that is true if they are buying more. I was told that was easy."

    I do note that Blackrock recently increased (or are in the process of increasing) their holding. I can understand that in principle a shareholder could short stock using their holdings as collateral in order to bring the price down to buy more at rock bottom prices.

    I understand that the market at the moment is putrid, and the AT5 results weren't great but the sell off has been seriously overdone in my view, and the comment from the ADVFN user might actually be plausible!


  • #177
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    It's called a tree-shake and it happens all the time.

    If you believe in the stock and don't want the likes of BlackRock acquiring your shares cheaply by adding to panic sell scenarios - sit back and switch off for a few months until the remaining news is released.


  • #178
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    I see that Brian is eyeing up Libya and has therefore joined the herd of jackals ready to rape the Libyan people. Yet another reason for me to divest!


  • #179
    ranger4
    Registered Users, Registered Users 2 Posts: 1,369 ✭✭✭ranger4


    turbobaby wrote: »
    I see that Brian is eyeing up Libya and has therefore joined the herd of jackals ready to rape the Libyan people. Yet another reason for me to divest!

    I think BOC is desperate now to try and stem SP bleeding by putting story out about possible Libyan exploration opportunities, Why hasnt pci been approached by any of the majors yet with the supposed 10th largest gas field in the world? Results seem to point that there is gas there however it doesnt point to as big a gas field as once thought and i would like to have results to date independantly tested to confirm results, Also demand set to fall as global economic recovery falters which will see a glut of oil and gas causing prices to drop further.


  • #180
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    It's becoming a bit of a joke really, first Iraq and now Libya. How many more countries do they want to enter. Who do you think is going to be pay for these ventures - another dillution of shares could be down the line but with the billions already in circulation what's a few more hundred million BOC? They should have stayed focused on the real find and proofed it sooner. A company this size can't be present in 5-10 countries at a time chancing its arm at every new licence that comes available. I'm very sour about this investment and as soon as (here's praying) there is any recovery in the word of Duncan Bannatyne - "I'm out".


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  • #181
    ranger4
    Registered Users, Registered Users 2 Posts: 1,369 ✭✭✭ranger4


    Comordha wrote: »
    It's becoming a bit of a joke really, first Iraq and now Libya. How many more countries do they want to enter. Who do you think is going to be pay for these ventures - another dillution of shares could be down the line but with the billions already in circulation what's a few more hundred million BOC? They should have stayed focused on the real find and proofed it sooner. A company this size can't be present in 5-10 countries at a time chancing its arm at every new licence that comes available. I'm very sour about this investment and as soon as (here's praying) there is any recovery in the word of Duncan Bannatyne - "I'm out".

    I agree, Future for this stock was looking very promising with original results with algerian find before continued negitive results and unfortunatly this co. seems to be an ATM for boc & board leeches at expense of its shareholders.


  • #182
    yobr
    Registered Users Posts: 377 ✭✭yobr


    turbobaby wrote: »
    I see that Brian is eyeing up Libya and has therefore joined the herd of jackals ready to rape the Libyan people. Yet another reason for me to divest!
    ranger4 wrote: »
    I think BOC is desperate now to try and stem SP bleeding by putting story out about possible Libyan exploration opportunities,
    Comordha wrote: »
    It's becoming a bit of a joke really, first Iraq and now Libya. How many more countries do they want to enter. Who do you think is going to be pay for these ventures - another dillution of shares could be down the line but with the billions already in circulation what's a few more hundred million BOC? They should have stayed focused on the real find and proofed it sooner. A company this size can't be present in 5-10 countries at a time chancing its arm at every new licence that comes available. I'm very sour about this investment and as soon as (here's praying) there is any recovery in the word of Duncan Bannatyne - "I'm out".

    I don't disagree with the sentiment of frustration here but Libya is a red herring..my guess is that the Indo rang Brian and he gave them a quote but there is no serious intent there with PCI..I see Goldman Sachs have taken a stake...


  • #183
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Looks like its oversold at the moment, down around 4.7p. I see some serious upside in the next 2/3 weeks. But I can never see this share for-filling the promise it once had theres just too much share dilution, too many fingers in too many pies and the board of directors are just amateur con-paired to other small cap oillies
    Its still a very high risk stock


  • #184
    ranger4
    Registered Users, Registered Users 2 Posts: 1,369 ✭✭✭ranger4


    Grecco wrote: »
    Looks like its oversold at the moment, down around 4.7p. I see some serious upside in the next 2/3 weeks. But I can never see this share for-filling the promise it once had theres just too much share dilution, too many fingers in too many pies and the board of directors are just amateur con-paired to other small cap oillies
    Its still a very high risk stock

    Still believe sp has further to fall, algerian gov sheltering gaddafi family will also add to instability and negitive sentiment for algerian investments including this stock.

    Algerian update, Bocs attempt to stem the blood letting, http://moneyam.uk-wire.com/cgi-bin/articles/201108300700191743N.html?epic=PCI


  • #185
    yobr
    Registered Users Posts: 377 ✭✭yobr


    ranger4 wrote: »
    Still believe sp has further to fall, algerian gov sheltering gaddafi family will also add to instability and negitive sentiment for algerian investments including this stock.

    Algerian update, Bocs attempt to stem the blood letting, http://moneyam.uk-wire.com/cgi-bin/articles/201108300700191743N.html?epic=PCI

    I don't agree, I cannot see the sp falling by a further 50% especially while they continue to find gas, particularly in step out areas. While its not good that the Gaddafi family are there its the Col they are after not really his family, in the first instance...Also, PCI is not just about Algeria ..there is Italy, albeit deleyed but given their troubles I expect the ban will be rescinded, and they have also have a foothold in Kurdistan too. I also see that Goldman Sachs have come on board too. I think this will be the turning point and with the Enel deal about to be signed plus other results due, I think we should see further upward movement...


  • #186
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    The share price just doesn't seem to reflect any of the book value the company holds. You have to start asking yourself why this is? I think the simple reason is the 2,369,605,049 shares currently in issue. Maybe instead of wasting the ENEL money on every new licence that presents itself they should buy back some of these shares. Buyers are also probably worried at how easy management are willing to issue millions of new shares to large institutional investors without offering private investors the chance to participate in such deals. Goldman have been on board for a while haven't they? I just thought they increased their holding. Many of the big names have been invested in this share including BlackRock but it hasn't change the fortunes of the company much. Some things might go in the right direction here such as the Italy sites coming back on stream but I just can't see how the share price is going to recover. Afterall, the market has been informed of the ENEL deal and the cash that the company will get but it doesn't seem to care much of it - worrying.


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  • #187
    yobr
    Registered Users Posts: 377 ✭✭yobr


    Comordha wrote: »
    Goldman have been on board for a while haven't they?

    http://www.petroceltic.ie/~/media/Files/P/Petroceltic/presentation/2011/150211-Final-Oil-Barrel-Presentation-for-Website.pdf?

    If you look at the Petroceltic presentation (Slide 41) to Oil Barrel in February this year, you will see a breakdown of the institutional investors...Goldman Scahs was not one of them. they are a new II.


  • #188
    ranger4
    Registered Users, Registered Users 2 Posts: 1,369 ✭✭✭ranger4


    Comordha wrote: »
    The share price just doesn't seem to reflect any of the book value the company holds. You have to start asking yourself why this is? I think the simple reason is the 2,369,605,049 shares currently in issue. Maybe instead of wasting the ENEL money on every new licence that presents itself they should buy back some of these shares. Buyers are also probably worried at how easy management are willing to issue millions of new shares to large institutional investors without offering private investors the chance to participate in such deals. Goldman have been on board for a while haven't they? I just thought they increased their holding. Many of the big names have been invested in this share including BlackRock but it hasn't change the fortunes of the company much. Some things might go in the right direction here such as the Italy sites coming back on stream but I just can't see how the share price is going to recover. Afterall, the market has been informed of the ENEL deal and the cash that the company will get but it doesn't seem to care much of it - worrying.

    I agree and believe the company will continue to act as an ATM machine for boc and rest of board at shareholders expense.


  • #189
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    A single trade of 46,000,000 shares went through just now....

    That's a bit over £2m quid!

    Hmmmmm.


  • #190
    henryd65
    Registered Users Posts: 107 ✭✭henryd65


    big jump this morning - up nearly 20%


  • #191
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    Yes, Goldman Sachs have upped their stake to above 7% and there seems to have been some other buyers too. Problem is that most of us need sustained amounts of buying like this to get back to where we need to be. I also wonder how all of those shares ended up in circulation.


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  • #192
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    The PCI sp gave up most of its gains on Friday afternoon,closing up 3.5% at 5p.

    It's a funny one. Goldman Sachs and Blackrock buying shares, Fidelity selling as well as a lot of PIs.

    A lot of PIs are waiting to get out, hence any rise on good news (next week?) coul be met with a similar sell off.

    Goldman are crooks and it wouldn't surprise me in the least for them to have got in just at the right time, so I'm going to hold off on any sells for the time being.


  • #193
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    Looks like JP Morgan are in on the party now too. A lot of shares were hoovered up yesterday but it seems to be ticking up nicely today. I have a feeling we could see 8-10 cent over the coming days if this mini-equity rally sustains. If so, it could be a good opportunity to abondon ship for anyone who has an average near that price. I, for one, will be considering it.


  • #194
    Lord TSC
    Moderators, Sports Moderators Posts: 42,603 Mod ✭✭✭✭Lord TSC


    If I can get it back up to 11 which I bought in at, I'll be bailing out :pac:


  • #195
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    The pain hurts, a lot!


  • #196
    yobr
    Registered Users Posts: 377 ✭✭yobr


    Comordha wrote: »
    The pain hurts, a lot!

    Feel your pain too, but a bit of a rebound throughout the day when people actually studied the RNS in more detail. It looks like a 2 for 1 in terms of buys against sells.

    I pulled the text below from a guy on ii, which sums it up well I think...

    People are a bit too pessimistic IMHO. Read the statement.

    "The main objective of this well was to prove up Gas in Place in the south eastern extremity of the field OUTSIDE the control of THE 3D SEISMIC AREA. This objective was successfully achieved, CONFIRMING the presence of THE AIN TSILA GAS COLUMN AT THIS LOCATION and thus PROVIDING further EVIDENCE OF THE SIGNIFICANT SIZE of the in place GAS RESOURCE on the structure. "

    "They were drilling outside the 3D seismic so would not know where to drill for fractures. The gas is still there meaning the gas is over a wider area. My conclusion is a bigger gas resource but they probably need more seismic to exploit some of it. Hardly worth a 20% drop in the SP when all their assets bar cash are being valued at pretty much nothing anyway.

    I personally think the shorters woke up this morning, had a look through the RNSs and thought the one from PCI looks bad and began shorting without really understanding that this is so cheap there would be plenty of buye    rs. "


  • #197
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    Indeed. good results from this drill would have been a bonus. The real testers are AT8 and AT9.

    It seems the market is valuing the Gas Field at next to nothing, so it should be all upside from here. I'd actually like to buy more at these levels but cannot convince myself to sell excellently performing stocks for this dog, despite the future looking bright for PCI.

    Next up, confirmation of the ENEL retification by the Algerian gov't, then AT8 results in early Oct. Both of these should boost the SP, with any other news release in the meantime being a pleasant surprise.


  • #198
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    Some rollercoaster ride this one, no doubt about that. This is as volatile and high risk a share as there is. I've become very attached to this share on a personal level which of course is going against rule number one of investing. I think it's because it is an Irish company operating out of Dublin city centre and because I have dreams of it being the next Tullow in many years time. Don't think I'm ever going to sell as the rise is just too much fun.

    Ovoca Gold and Petroneft are a good ride too.


  • #199
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    Significant flow rates from AT-8 today. Should drive price up a little but still so far to climb. Releasing positive news in this market almost seems like a waste of time. Early 2012 will be an interesting time for this stock when the full site is proved and we can see how much is actually made.


  • #200
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    The Flow rate is exceptional. This has to be onwards and upwards from here. At the current share price it looks like a complete steal. I was debating with myself should I buy back in on Friday but I decided to hold off till we got the flow rates which are far better than what was expected. At these prices it looks an absolute steal. PCI is worth 4p on its cash from Enel alone never-mind the Gas in Algeria. I can see this worth 3 or 4 times the current SP by Q1 2012
    I hope to pick up a few today before the SP goes out of sight:D


  • #201
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Just got in at 3.89p
    Onwards and upward from here!!
    Happy Days
    :D


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