High risk stocks (Petroceltic)

Shauny2010 · 15-01-2011 5:34pm

ranger4 wrote: »

share and am confident it has potentail to easily reach 0.30-0.50c+ this year.

I agree that it could hit that price this year but by then it will be worth waiting till mid 2012 to realize the full extent of the sp rise

Comordha · 19-01-2011 12:41pm

Very exciting times for Petroceltic -

http://www.icis.com/heren/articles/2011/01/18/9427082/major-algerian-gas-discovery-volumes-marked-for-europe.html

dunkamania · 19-01-2011 5:14pm

Subscription required?

Shauny2010 · 19-01-2011 5:43pm

Comordha wrote: »

Very exciting times for Petroceltic -

Comordha we cant see the article, if you get a chance you might put it up here
thanks

Comordha · 20-01-2011 10:34am

From ICIS HEREN, 19/01/2011

International exploration company Petroceltic, which is headquartered in Ireland, is in discussion with several European utilities to form a marketing agreement to export its large Algerian gas discovery to Europe for a period of 20-25 years.
The gas - estimated at between 2.7 trillion cubic feet (tcf) and 10.9tcf, or between 76.5 billion cubic metres (Gm³) and 308.9Gm³ - is planned to be moved to Europe via pipeline from 2016.
Petroceltic will announce its choice of European partner in the second half of 2011.
A gas-marketing company will then be formed by Petroceltic, Algerian state energy company Sonatrach and the European partner, with 51% of the project ownership awarded to Sonatrach.
"We want to export the gas through a long-term gas pipeline contract to Europe because we have enough gas to export for a period of 20 to 25 years - so it's a big investment," said Brian O'Cathain, chief executive and managing director of Petroceltic, in an interview with ICIS Heren on Tuesday.
"However, we will not rule out exporting gas as spot LNG cargoes."
Petroceltic announced on 12 January this year that its well in the Illizi Basin, southeastern Algeria, had encountered a gross gas column of 155m, with no gas water contact.
"We are optimistic for a positive outcome from testing," said O'Cathain.
In 2009, Petroceltic had discovered 2.7-10.9tcf in four wells in the Illizi Basin, representing up to around one-tenth of Algeria's estimated gas reserves. It is this gas that is marked for export.
Sonatrach's role
Petroceltic has a second option: selling 25% of its gas discovery to Sonatrach, priced on the state company's netbacks for exports in the past six months.
The gas would become part of Sonatrach's general portfolio, but would most likely be marked for export.
"Algeria's major gas-producing field, called Hassi R'Mel, has been going since the 1960s, and is now in serious decline. It is flowing way more water than it should, which will eventually make gas exports from Algeria pretty tight," said O'Cathain.
"In addition to this, the price for selling gas on the Algerian domestic market is relatively cheap, so gas is more valuable to Sonatrach as an export commodity."
Iberdrola
Petroceltic originally had an agreement with Spanish electricity and gas supplier Iberdrola to channel its Algerian gas assets into Spain's gas market through the Maghreb-Europe Gas pipeline.
However, the agreement fell apart when Iberdrola sold its majority stake in Petroceltic two years ago, as part of an ongoing divestment of non-core assets.
Algeria currently runs two pipelines to Europe: the Trans-Mediterranean pipeline (to Italy), and the Maghreb-Europe Gas pipeline (to Spain). The Medgaz pipeline (to Spain) and the Galsi pipeline (to Italy) are scheduled for early 2011.
Petroceltic's partner could therefore be a Spanish or Italian utility, but O'Cathain would not confirm this, except to say that Petroceltic was choosing from "a very short list". JSH

The Pontiac · 20-01-2011 1:42pm

I'm not actually invested in PetroCeltic, but I came across this while searching for something else. A presentation they did in Manchester at the end of November..

https://www.youtube.com/watch?v=8AhWQ4ScmME

https://www.youtube.com/watch?v=al2kFZbS9Ug

https://www.youtube.com/watch?v=p3dQ48sMQ1s

Fr Dougal Mcguire · 25-01-2011 4:48pm

is this the right petrolceltic or is it a different one you guys are talking about

http://www.davy.ie/PricesAndCharts?pandccompanyname=petroceltic

josey_whale · 25-01-2011 6:15pm

Fr Dougal Mcguire wrote: »

is this the right petrolceltic or is it a different one you guys are talking about

Yes. That's the one. Petroceltic is quoted on the AIM in London and also in ISEQ in Dublin. The page in the link refers to the AIM.

Fr Dougal Mcguire · 25-01-2011 8:53pm

thinking of buying these shares. does it matter if i buy on AIM or ISEQ. Was just gonna pop into broker and get them.

christeb · 25-01-2011 9:51pm

1% tax on the ISEQ, but then you negate currency risk.

I joined this party yesterday too (on the AIM), will be in for the medium -> long term

Fr Dougal Mcguire · 25-01-2011 9:58pm

anyone know what the current price is to buy shares in davy. is it still around 100 per transaction.
Im just gonna go in and buy them instead of going through my online account

Shauny2010 · 26-01-2011 12:49am

Fr Dougal Mcguire wrote: »

anyone know what the current price is to buy shares in davy. is it still around 100 per transaction.
Im just gonna go in and buy them instead of going through my online account

You must have money to burn so,
Why not use your trading account and save some money, plus you don't have to accept the market price for the share you could go in lower than the Bid and wait for the usual share volatility to play in your favor:D

Shauny2010 · 26-01-2011 12:52am

christeb wrote: »

1% tax on the ISEQ, but then you negate currency risk.

I joined this party yesterday too (on the AIM), will be in for the medium -> long term

Some party eh! Just remember this is still a punt not an investment

Fr Dougal Mcguire · 26-01-2011 12:59am

Shauny2010 wrote: »

You must have money to burn so,
Why not use your trading account and save some money, plus you don't have to accept the market price for the share you could go in lower than the Bid and wait for the usual share volatility to play in your favor:D

Sorry I wasnt very clear in my post,
Im using my own online account for myself, but family member also on boards constantly and wants to buy too, so they heading into town to buy for themselves because their online account isnt set up yet and their anxious to buy these.

Comordha · 26-01-2011 10:06am

I've been in this party for 2 years now, it's a great one to be in. Very rarely quiet but some times the cops show up and turn the music down a little.

christeb · 26-01-2011 10:10am

Shauny2010 wrote: »

Some party eh! Just remember this is still a punt not an investment

Some party indeed. Clearly a Boards I&M night out is on the cards if this one goes through the roof....

Shauny2010 · 26-01-2011 11:00am

christeb wrote: »

Some party indeed. Clearly a Boards I&M night out is on the cards if this one goes through the roof....

Yea, that would be something
I`ll be supplying the Bubbly with my own vineyard
(I wish.....):D

bestie · 26-01-2011 9:00pm

Is one better off buying shares on the

LSE (0.14 gbp) or the ISEQ (0.18 eur)

Obviously there are more trades done on the LSE, are most people buying from LSE ?

anyone know why doesn't google finance never shows results of ISEQ shares?

poodles · 27-01-2011 2:05pm

bestie wrote: »

Is one better off buying shares on the

LSE (0.14 gbp) or the ISEQ (0.18 eur)

Obviously there are more trades done on the LSE, are most people buying from LSE ?

anyone know why doesn't google finance never shows results of ISEQ shares?

If I remember correctly...PCI's SP on the ISEQ rarely goes up or down in anything less than 0.5c's whereas on the LSE it will move usually in 0.25p's or less.

Also, I think there is a higher / extra government stamp duty charge when buying Irish stocks?

You have to take into consideration also that you will have to convert funds from Euros ---> GB Pounds and beware of the charges. (TDWaterhouse charge 1.75% over the base rate on FX :eek: )

Fr Dougal Mcguire · 27-01-2011 10:35pm

Anyone take a guess at to what the potential for these shares is in a year or even 6 months.

Do you think they will yield a return in the next few months?

Be interested to hear peoples opinions

christeb · 28-01-2011 10:33am

this thread is starting to remind me of this......and I love it!

Fr Dougal Mcguire · 28-01-2011 2:54pm

christeb wrote: »

this thread is starting to remind me of this......and I love it!

"First, let me assure you that this is not one of those shady pyramid schemes you've been hearing about. No sir. Our model is the trapezoid scheme, guaranteed to give you an eight-hundred percent return...."

:D:D

Comordha · 28-01-2011 5:05pm

Me too Chris, loving it. Might try track down the Blackrock funds that are investing in this share and see if I can invest in them. They must have serious volaility, just my favourite.

Shauny2010 · 29-01-2011 11:04am

poodles wrote: »

You have to take into consideration also that you will have to convert funds from Euros ---> GB Pounds and beware of the charges. (TDWaterhouse charge 1.75% over the base rate on FX :eek: )

Why would anyone use a broker like this, it beggers belief that your going to get a 1.75% hammering on a currency transaction.

poodles · 31-01-2011 12:55am

Shauny2010 wrote: »

Why would anyone use a broker like this, it beggers belief that your going to get a 1.75% hammering on a currency transaction.

Shauny, what broker do you use?
You'll find all brokers and banks will take a cut on top of the fx base rate.

Shauny2010 · 31-01-2011 10:12am

ODL Markets (which is now FXCM)
You can trade any market you like from a euro currency base.
I only ever trade on the Ftse or Aim markets but when I do I don't get screwed on commission or exchange rates (there is a cut in th Fx base rate but only a fraction of a percent not 1.75% !!).
Its the same process to open an account as it is for any Irish based broker
You can fund your account by credit/debit cards or by wiring the money
Each trade costs €14.95

poodles · 31-01-2011 5:58pm

Shauny2010 wrote: »

ODL Markets (which is now FXCM)
You can trade any market you like from a euro currency base.
I only ever trade on the Ftse or Aim markets but when I do I don't get screwed on commission or exchange rates (there is a cut in th Fx base rate but only a fraction of a percent not 1.75% !!).
Its the same process to open an account as it is for any Irish based broker
You can fund your account by credit/debit cards or by wiring the money
Each trade costs €14.95

So what rate (or percentage over the base rate) would you be charged when buying a UK stock with Euros or simply converting 10k euros into GBP?

poodles · 01-02-2011 3:08pm

Shauny2010 wrote: »

Why would anyone use a broker like this, it beggers belief that your going to get a 1.75% hammering on a currency transaction.

I've checked with ODL, their hammering is 1.5%

Shauny2010 · 02-02-2011 6:19pm

poodles wrote: »

I've checked with ODL, their hammering is 1.5%

No thats not true, they don`t charge anything. I originally thought that they did scalp a very small percentage but they dont

irishh_bob · 02-02-2011 6:52pm

so when will this thread get back to discussing the over hyped dog that is petroceltic

High risk stocks (Petroceltic)

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