High risk stocks (Petroceltic)

Comordha

http://www.proactiveinvestors.co.uk/companies/news/26016/analysts-unphased-by-market-reaction-to-petroceltic-report-from-ain-tsila-algeria-26016.html

Thargor

10.25 was my entry price last June! Got out at 10.5 to put it all on RRL.

jackelton

wrote:

Movers: GYMBOREE CORP.,CLEAN ENERGY FUELS CORP.,SKILLSOFT PLC (S&P)
Dale Jarrett Racing Adventure Inc.
DJRT Im in at .05 and .07

xertpo

Petroceltic (LON:PCI) (PCI, 11p, ▼ (10.20%)) signed an agreement for the transfer of operatorship of the Carisio exploration permit (Petroceltic 47.5%) to ENI S.p.A., in exchange for 550 km of existing 2D seismic data on the Ronsecco permit plus access to reprocessed 2D seismic data and other technical studies in the Carisio permit. The Carisio and Ronsecco permits are located in the Western Po Valley, Piedmont Region, approximately 30km west of the 250MMboe ENI operated Villafortuna-Trecate oil field, one of Europe's largest onshore oil fields which has existing production facilities with spare processing capacity. This acquired data will provide the basis for the planning of the material Rovasenda-1 well and the possible farm-out of part of Petroceltic's interest in the Carisio permit. It will also enable Petroceltic to assess the prospectivity in the adjacent Ronsecco permit (Petroceltic 100%, awarded 29th November 2010). Petroceltic, along with its co-venturers is now planning to drill the 270MMbbl Rovasenda exploration prospect in the first half of 2012, subject to approval by the relevant ministries and local authorities. This prospect consists of an Early Jurassic-Triassic reservoir target which is analogous to the producing reservoirs in Villafortuna-Trecate. No further seismic data acquisition is anticipated prior to the commencement of the Rovasenda-1 well. Elsewhere in Italy, activity on Petroceltic's Elsa discovery, located in the Central Adriatic B.R268.RG permit, continues to be delayed due to uncertainties in the legal interpretation of Italian Legislative Decree L.D. 128, passed into law in August 2010, which prohibits drilling in the Italian seas within 5 nautical miles of the coastline and within 12 nautical miles around the perimeter of protected Marine and Coastal Parks. This decree clearly states that it does not apply to "existing titles"; however the impact of the law on existing exploration licences is as yet unclear. In response to this uncertainty, Petroceltic has been seeking approval from the Ministry of Economic Development to suspend the licence until these interpretation issues have been clarified. On March 1st 2011, the Ministry signed the decree suspending the B.R268.RG permit. The decree will be published in the April edition of the Ministry's monthly bulletin. Petroceltic and its partners have extended existing agreements pertaining to the farm-out of this permit, with the $26M of funding, raised for the drilling of the proposed Elsa-2 appraisal well, remaining available.

Shauny2010

At Last some very positive news which should see the SP lift from its bargain basement price!!

http://www.petroceltic.com/~/media/Files/P/Petroceltic/presentation/2011/results-of-at-5-pilot-hole-logging.pdf

yobr

Shauny2010 wrote: »

At Last some very positive news which should see the SP lift from its bargain basement price!!

http://www.petroceltic.com/~/media/Files/P/Petroceltic/presentation/2011/results-of-at-5-pilot-hole-logging.pdf

Lets hope this is the start of the good news...would assume that is enough to secure up a farm in partner..

The Pontiac

The directors of Petroceltic International (AIM: PCI), Ascent Resources (AIM: AST), Caza Oil & Gas (AIM, TSX: CAZA) and Providence Resources (AIM: PVR) will be presenting:



Tuesday the 29th March 2011



The Shelbourne Hotel, 27 St Stephen's Green, Dublin, 2 Ireland

The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

http://www.proactiveinvestors.co.uk/register/event_details/105

Anybody heading o this? Would be more interested in Ascent Resources and Caza myself.

yobr

<Ollie> wrote: »

http://www.proactiveinvestors.co.uk/register/event_details/105

Anybody heading o this? Would be more interested in Ascent Resources and Caza myself.

Yeah hope to head along...interested in PCI.....

jellybeans

Shauny2010 wrote: »

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

hi what is SP as above? is it this ? NYSE:XLE

Thargor

When is this expected to start moving roughly?

yobr

Thargor wrote: »

When is this expected to start moving roughly?

Feedback from Tuesday night is that farm out has been agreed and is awaiting sign off by Algerian authorities...BoC actually said "very soon" at one stage...this will provide impetus for share price (fingers crossed).

Other reports from Tuesday night are here...

http://www.lse.co.uk/ShareChat.asp?page=1&ShareTicker=PCI

Lord TSC

Since there's a recent enough topic on them, I thought I'd post this here rather than a new one.

I'm looking to put a small amount of money (€4-500) on something and thus it needs to be something with high potential, even if it's high risk. Looking at them, their prices are pretty low and I was wondering if they would thus be worth putting the money into in the hopes that, long term, there'd be a dramatic increase. I know its a gamble but I figure with the little money I'm using, I need to gamble cause "safer" investments will just eat up profits on commissions...

xertpo

Teamshadowclan wrote: »

Since there's a recent enough topic on them, I thought I'd post this here rather than a new one.

I'm looking to put a small amount of money (€4-500) on something and thus it needs to be something with high potential, even if it's high risk. Looking at them, their prices are pretty low and I was wondering if they would thus be worth putting the money into in the hopes that, long term, there'd be a dramatic increase. I know its a gamble but I figure with the little money I'm using, I need to gamble cause "safer" investments will just eat up profits on commissions...

Another option worth looking at as well, would be the range resource thread.

Thargor

Im 90% in Range and would definitely recommend them but take a look at their partners in Georgia and Puntland, Red Emperor Resources, for more risk/reward on those prospects, but then again with Range acquiring Trinidad they might be the better bet depending on your timeframes. To be honest though €400-500 isn't enough, you should save up a grand or three first while you do your research.

poodles

Teamshadowclan wrote: »

Since there's a recent enough topic on them, I thought I'd post this here rather than a new one.

I'm looking to put a small amount of money (€4-500) on something and thus it needs to be something with high potential, even if it's high risk. Looking at them, their prices are pretty low and I was wondering if they would thus be worth putting the money into in the hopes that, long term, there'd be a dramatic increase. I know its a gamble but I figure with the little money I'm using, I need to gamble cause "safer" investments will just eat up profits on commissions...

If it's high risk, high reward your after then I'd go for Red Emperor over Range Resources.

Thagor is right, €500 is really not a lot to be investing when you consider 0.5% stamp duty and commission charges. However, you can always add to a holding as you see fit and I suppose €500 may not be a lot to one person but cant be to another.

Grecco

I notice The SP is on the move this morning, any updates out there?

Comordha

To all Petroceltic holders, congratulations. It was a long wait but the farm-out news is finally here -

Under the terms of the agreement ENEL has:

-- Agreed to pay up to US$ 36.75 million to Petroceltic, which equates to 24.5% of all back costs incurred from signing of the PSC in 2005 until the end of the exploration period in April 2010.

-- Committed to fund 49% of the cost of the first six appraisal wells in an enlarged Isarene appraisal campaign (including AT-4 which has been completed and the second well of the campaign, AT-5, currently drilling the horizontal section) and of a contingent additional well, which costs are capped, in aggregate, at US$ 145 million.

-- Agreed to pay Petroceltic a contingent cash consideration, up to a maximum of US $75 million, determined by the level of recoverable hydrocarbon reserves approved by the Algerian Authorities in the Final Discovery Report, which is expected to be submitted by the parties in early 2012.


SP up 15% so far :-)

xertpo

Nice to see another stock I found on this forum doing well.

Lord TSC

Argh, I was waiting over the last few days to see if they'd go down a little bit before I bought in >_< Inexperience on my part I guess. Bought it pretty early this morning though so will be interested to see if they continue to rise...

yobr

Good to see that rise...was giving up hope and thinking of taking my losses..only have to worry about consolidation now...hopefully next drill results are soon...

Grecco

Its all about timing isn't it! , I only bought in a few days ago. The SP usually falls the day after I buy but for once it hasn't happened:D. Still though I bought in with the aim of holding for at least 18 months, my reasons being
1: They haven't confirmed the amount of gas yet
2; Its gonna cost a lot of money to develop the gas field which I don't think PCI can afford to do so they`ll end up with a big asset which might be easy to sell

Am I off the mark here, as in should I be taking profits sooner if available ?

Thargor

Glad to see people on here getting their rewards for being patient, I sold out last July for more exciting prospects but kept an eye on it, the price seemed to be stuck 10.25p every day for a year. Anyway hope it stays rising for ye next week.

yobr

Grecco wrote: »

Am I off the mark here, as in should I be taking profits sooner if available ?

I have been in this for two years come September...I aim to take my profits (and hopefully there will be some) sooner rather than later..I'm worried about about a possible consolidation...2 billion shares is an awful lot of shares...

yobr

Thargor wrote: »

Glad to see people on here getting their rewards for being patient, I sold out last July for more exciting prospects but kept an eye on it, the price seemed to be stuck 10.25p every day for a year. Anyway hope it stays rising for ye next week.

That was a good strategy, i should have done the same thing...hopefully PCI will reward my patience

Comordha

Goodbody have upgraded Petroceltic from Neutral to BUY with a 15p price target. The Phoenix magazine for what it is worth have put a possible price of €.60 on the stock in their current edition. They have a decent enough write-up too for anyone who doesn't know the story.

I'm still holding out for €.40 a share.

basejumper

So with the AGM scheduled for Friday 10th, what do people this might happen to PCI's share price (short, medium & long term) and it's prospects for the future? (Undoubtably good, especially if the Italian jobs hit oil, but a bit of a long drawn out end game.)

The share price has been on a bit of an up tick in the last week or so with stuff in the media no doubt, but will the real news on Friday be enough to keep it up?

And would anyone care to hazard a guess on what the impact of the proposed additional share placing might be? Thanks to all in advance.

Grecco

basejumper wrote: »

And would anyone care to hazard a guess on what the impact of the proposed additional share placing might be? Thanks to all in advance.

This has already been priced into the share price so you`ll see no effect. Your right there has been upward pressure on the SP over the last few weeks, this could be due to the Arab uprising calming down, and also the 18% farmout of the Ain Tsila find which puts €100 million plus in the kitty:D.
Currently the SP is around 11.75p which is a 14% increase month on month. I don't see this SP retreating back to the 10p mark anytime soon as were only weeks away from the AT5z results which if they are positive will send the SP much higher.
As for Italy there is certainly good things to come there but not until 2012

basejumper

Hi Grecco

Thanks for that info, much appreciated. Best of luck with your holding and to all other PCI'ers

basejumper

Comordha

Grecco I agree about the share price it seems to have found a slightly higher support level. I expect it to trade around the 11.5p mark from now on. Once some more wells are proven it should start ticking up further. If Italy were to come back into play we could see some nice gains. I can't see that Italy moratorium dragging on for too long.

Grecco

Comordha that extra cash that they will get is going to make for some really interesting times as well. If they use the money wisely they could farm-in to several exploration projects within the next 12 months. then the fun should really start.
Best of luck to all PCI`ers and hopefully patience is finally payed off.