High risk stocks (Petroceltic)

jprboy

Has there been any consolidation of Petroceltic shares in the last 6 years or so? I sold some of these shares for 22p (sterling) in April 2006 and have 5,000 shares remaining. I'm not aware of any changes to the share structure since then but have changed address and haven't been receiving any company correspondence, nor I have been following the business news very closely.

Thanks.

yobr

jprboy wrote: »

Has there been any consolidation of Petroceltic shares in the last 6 years or so?
Thanks.

No.

Soulja boy

Has there been any news since the conference?

Lord TSC

*Sigh*

Back when I was choosing what to do my first investment in, I decided to pick between Petroceltic and Providince. Really worry I made the wrong choice now

rs500ff

Teamshadowclan wrote: »

*Sigh*

Back when I was choosing what to do my first investment in, I decided to pick between Petroceltic and Providince. Really worry I made the wrong choice now

I feel much the same. I've been effectively paralysed by my decision to buy into PCI. 80% of my capital has been sitting there for over year.
I was very close to selling out recently.

However I wont repeat what has already been said but if the Q4 drill is good it will be worthwhile.

Grecco

It all really depends on your entry price. I got in at an average of 4.2p but have since topped up bringing my average to just over 6p.
If you bought in this time last year then I suspect your down a nice few bucks. But you can say that for any of the 90% of the AIM stocks, all of which got a right hammering last year.
On the plus side PCI has a lot going for it and is still seriously undervalued, just dont expect an instant revaluation it`ll take a while.
They now have Cash in the Bank,
FDR report due within weeks
I think this will plod along for the next month or two until we get news of a further farmout of Algeria / Then new projects to be announced along with Italy and the Ace being Kurdistan

Lord TSC

I bought in at 11c so I've not lost much. Just gained nothing either.

I get its a long term investment, but it's weird to me that I keep seeing people say "Wait till X is announced, wait till Y is done and it will go up", seeing X and Y and the price stays static. It's not that I plan to pull out anyway; I only have a little money in this share. But it's weird that I keep seeing people say this is about to rocket and it never does. I've even seen some of the big investor sites saying how undervalued this is. But yet it never moves.

yobr

rs500ff wrote: »

I was very close to selling out recently.

I am in the same boat and think I will sell this week. The FDR is a month away but nothing after that is until the second half of the year plus the spectre of share consolidation is in the background. Bottom line is that money has to work and produce a return and at the moment PCI ain't doing that. I'm thinking of having a look at FOGL...

turbobaby

Don't forget the board are meeting with Goldman Sachs this week or next.

I understand people's frustrations but I firmly believe our time will come soon.

Be it from confirmation that Ain Tsila is commercial, a 2nd farm out, our own farm in, or even the spud in Italy at the end of the year, there are plenty of things to keep this share moving up. Please remember we have already more than doubled from the 52 week low.

rs500ff

Well as somebody else pointed out, PCI does offer excellent exploration value as it stands. Not many others offering such prospects at this price.

The recent doubling up is not something to get too excited about in my opinion. I also think any take-over talk is nonsense until drill assessments are announced.

I do however think that in 12 months time PCI could be reflecting an SP of 36-40p but what do I know! Its a high risk investment and has proven so far to be dreadful choice for me but I have been a long term holder. As stated I have come very close to cashing out but have held so far.
If I was now looking at this share it would be one I would be giving very strong consideration to.

I have around £20k at just over 9p. If the price hovers around the 10p mark for the next 2 months I might be dropping another 6k in and then wait (& pray & hope) for 12 months.

rs500ff

I've been reconsidering a few things about the PCI and have a question some of the more experienced investors might be able to answer:

What happens if and when a company is taken over?
In the context of PCI if, lets say, the current price was 15p and rumours begin to circulate there will be buyout for 30p, what happens in the interim?

Does the market price rally to the speculated take over price? If that was the case it should surely make sense for me to sell at 30p instead of waiting for the actual take over?

zagamuffin

Rs500
Let's hope you have heard something about pci future

christeb

rs500ff wrote: »

I've been reconsidering a few things about the PCI and have a question some of the more experienced investors might be able to answer:

What happens if and when a company is taken over?
In the context of PCI if, lets say, the current price was 15p and rumours begin to circulate there will be buyout for 30p, what happens in the interim?

Does the market price rally to the speculated take over price? If that was the case it should surely make sense for me to sell at 30p instead of waiting for the actual take over?

It rallies (normally) to a price which reflects the buyout but also prices in the risk of the buyout not taking place. In the case of PCI and the scenario you outlined, depending on various factors, this could be in the +/- 25p region. It wouldn't do all the way to 30p before the actual takeover, as there is zero upside for the buyer at the price, and some potential downside

Sappa

Anyone else feeling the frustration with this share,we were told that a 2nd farm out would have been completed by April but have to wait until Q4.
I've been in this a long time now and the Bod are seriously dragging their heals.

zagamuffin

Italy move on offshore and 60mm traded and 10%spike, unconfirmed rumors of takeover bid as well, may get something moving here and about time...

Grecco

I think the SP movement is due to the prospect of Italy going back on line. If that happens then it will be massive for Petroceltic, Central Adriatic & Abruzzo Regions already have an Oil discovery in place for Petroceltic so its fingers crossed.
I doubt there's any substance to the take over rumors as it seems that any company on AIM that moves upwards of late gets the same pumping talk from the same people.
Either way I`m not bothered as it will come good in the next 12 months between this and Kurdistan so I might as well see it out now

zagamuffin

Grecco wrote: »

I think the SP movement is due to the prospect of Italy going back on line. If that happens then it will be massive for Petroceltic, Central Adriatic & Abruzzo Regions already have an Oil discovery in place for Petroceltic so its fingers crossed.
I doubt there's any substance to the take over rumors as it seems that any company on AIM that moves upwards of late gets the same pumping talk from the same people.
Either way I`m not bothered as it will come good in the next 12 months between this and Kurdistan so I might as well see it out now

Grecco,

I agree about Italy but also believe pci is so undervalued it is an obvious target on future possible assets.

Have a few of these and will be holding for a nice pay ack

Grecco

zagamuffin wrote: »

Have a few of these and will be holding for a nice pay ack

Have a nice few myself tied up over the last 10 months, it looked like they went to sleep for the last 6 months so its awakening is a pleasant surprise in these grim markets

zagamuffin

Grecco wrote: »

zagamuffin wrote: »

Have a few of these and will be holding for a nice pay ack

Have a nice few myself tied up over the last 10 months, it looked like they went to sleep for the last 6 months so its awakening is a pleasant surprise in these grim markets

Got in a few years ago and have topped up a few times along the way, cobwebs very thick

Comordha

This share is still a dog of a share so I wouldn't get too excited. The price is so far off where it once was that these little jumps don't mean much to most. There will likely be another sell-off now as some people will be happy with their 10-15% return. The market just seems determined to run this share into the ground. I would take 10p a share off any interested party at this stage.

Grecco

Comordha wrote: »

This share is still a dog of a share so I wouldn't get too excited. The price is so far off where it once was that these little jumps don't mean much to most. There will likely be another sell-off now as some people will be happy with their 10-15% return. The market just seems determined to run this share into the ground. I would take 10p a share off any interested party at this stage.

10p would give me roughly 150% profit, I`d take that too

yobr

Grecco wrote: »

10p would give me roughly 150% profit, I`d take that too

Well done, not many holders who can say that....hopefully by the end of the year, depending on the results from Kurdistan, we will be past 10p...

rs500ff

I'm now holding at 9p but not going to add any more. Have around 250k.

I initially was just going to wait for an exit point but I'm coming round to possibly holding this for another 12months or so. Who know's it might get to 50p mark...

Grecco

rs500ff wrote: »

I'm now holding at 9p but not going to add any more. Have around 250k.

I initially was just going to wait for an exit point but I'm coming round to possibly holding this for another 12months or so. Who know's it might get to 50p mark...

50p in 12 months is unrealistic IMO unless they hit a big strike in Kurdistan or Italy.
However I think it should get close to 20p if Italy comes back on line and then with a bit of hype and excitement from both Italy and Kurdistan
That would be over 110% profit for you IF it happens

rs500ff

Sorry, I should have said 50p in the extreme.
Either way I don't need the cash (for now) so I'm happy to ride this one out.

I do think though that a major strike could really see this dog catapult big time but what do i know!

ranger4

PCI = ATM for Boc and rest of Board, buyer beware.

yobr

ranger4 wrote: »

PCI = ATM for Boc and rest of Board, buyer beware.

Plenty of opportunities to make money out of PCI in the last three years...

Grecco

Petroceltic Intnl
Award of two Licences offshore Italy

RNS Number : 9619G
Petroceltic International PLC
05 July 2012


Dublin
5th July 2012

Petroceltic International plc
Award of two Licences offshore Italy
Petroceltic International plc ("Petroceltic" or "the Company"), the upstream oil and gas exploration and production company focused on North Africa, the Middle East and the Mediterranean, is pleased to announce that its wholly owned Italian subsidiary, Petroceltic Italia S.r.l., has been awarded two exploration licences in the central Adriatic offshore Italy.
Licences B.R 270 and B.R 271 are 144.5 km2 and 327.1 km2 in size respectively, and run for six years from the date of award. The Company has also applied for three other adjacent exploration permits in this area, which are currently under consideration by the Ministry of Economic Development. The permits, in water depths of 30 to 150 metres, are located adjacent to existing oil and gas fields which have demonstrated three working hydrocarbon plays in this region; the Cretaceous Miglianico/Elsa basin floor fan, the Cretaceous to Miocene Rospo Mare/Ombrina Mare platform carbonate oil plays, and the Santo Stefano Mare Pliocene biogenic gas play.
Interpretation of 2D geophysical data has already revealed a number of prospects and leads on the permits, at all three hydrocarbon play levels. Future plans involve obtaining additional new geophysical data in order to high-grade prospects for possible future exploration drilling. The permits have been awarded 100% to Petroceltic; however, as part of a farm-in agreement signed with Orca Exploration Group Limited ("Orca") in June 2010, Orca will have an option to earn a 15% interest in these permits subject to the usual regulatory approvals.
Brian O'Cathain, Chief Executive of Petroceltic, commented:
"We are delighted with the award of these offshore exploration permits which is indicative of a desire to re-activate the offshore Italian exploration and production industry by the Government of Italy, for the benefit of the national and regional communities and economies, in line with the recently announced review of the national energy strategy by Minister Passera. Petroceltic is committed in all of its operations to act responsibly and with due care to the environment and local stakeholders, and we look forward to continuing to work with the Italian authorities to explore these prospective licences"

Comordha

http://www.proactiveinvestors.co.uk/companies/news/46675/petroceltic-chief-ocathain-very-positive-about-ain-tsila-development-46675.html

christeb

What do we think about the PCI Melrose merger?

http://www.ise.ie/app/announcementDetails.aspx?ID=11300940