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High risk stocks (Petroceltic)

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    #242
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    I agree about those two reasons. All high risk stocks are getting hammered at the moment but when there is any relief they take off quickly. They will be the first out of the cage once the market turns, and it will as it always does. Hold tight, plenty of good news to come for this share. Not a short-term play though. Been in this dog for 2-3 years myself.


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    #243
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Oh the Joys of speculating in Petroceltic :)
    I think it`ll recover to 6 - 7 p range. We wont see a push on in the SP until we get AT9 results in December
    Enel ratification looks like thats going out to early December as well


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    #244
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    Great news on AT-9 this morning. Saved the best till last. This share has so much potential now, it just needs those cash injections it is owed and it should fly. If I were the board I would be considering a special dividend as investors have been through a lot of pain with this one.


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    #245
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Serious flow rates from AT9. Petroceltic are gonna cash in big time with this one. And in the current markets Cash Is King.
    The Share price will tick up nicely now :)


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    #246
    HarvestMoon
    Registered Users Posts: 27 ✭HarvestMoon


    Very positive RNS today, with more hopefully in pipeline in near term PCI looking very good.

    Believe there was also a positive and interesting briefing given yesterday to oil barrel so it could be up and away from here over next while!!


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    #247
    yobr
    Registered Users Posts: 375 ✭✭yobr


    Comordha wrote: »
    If I were the board I would be considering a special dividend as investors have been through a lot of pain with this one.

    I would certainly agree with this.


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    #248
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    Yes, delighted with today's results. A nice surprise too, as like most, I thought it would come next week.

    The wait on ratification is hanging over this share and keeping the reigns on the SP. Looking forward to getting that confirmed and then start to see some reality return to the SP. Still great value at this price.


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    #249
    yobr
    Registered Users Posts: 375 ✭✭yobr


    More good news today on AT-9....with the ratification, 2nd farm out, and delivery of the overall report to come with the next six weeks, we should be due for another sp rise..

    http://www.petroceltic.ie/en/investor-centre/press-releases/pr-2011/2011-12-15


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    #250
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    No more shorting either. See attached.


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    #251
    yobr
    Registered Users Posts: 375 ✭✭yobr


    http://translate.google.com/translate?u=http%3A//www.elmoudjahid.com/fr/actualites/21122&hl=en&langpair=auto

    looks like the ratification is passed and with GKP rumours could be an interesting open tomorrow.


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    #252
    yobr
    Registered Users Posts: 375 ✭✭yobr


    Ratification through.....lets see a good rise today..fingers crossed


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    #253
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    Slow and steady wins the race!


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    #254
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    AT9 Super flow rates
    and now money in the Bank for Kurdistan
    Roll on Jan 2012 for the results of the appraisel and we get the Gas reserves fully booked, I`m now hoping for 12 Tcf of gas in place
    (And the SP to hit the mid teens Q1 2012 :D )


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    #255
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    turbobaby wrote: »
    In the near future we will more than likely have the following:

    1. Further test results from AT7 and AT9 proving up resources with tasty flow rates.
    2. Ratification of Enel farm-out by Algerian government
    3. Completion of the development plan in Jan 2012.

    4. A further farm out to a major player as suggested by BOC today.
    5. Passage of the Kurdi legislation in Iraq.
    6. Meanwhile, macro conditions continue to worsen with European banks being nationalised (and possibly Bank of America) after a Greek default.
    7. Oil and gas prices continue to drop until...
    8. War breaks out in the MENA region, QE3 and some Euro printing is announced giving a major boost to markets and commodity prices, but failing to address the deep rooted issues of the global economy.
    9. The derivitive bomb explodes!


    I posted this on October 10th. Not too bad if I say so myself!


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    #256
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    turbobaby wrote: »
    I posted this on October 10th. Not too bad if I say so myself!
    Very sharp turbo

    The eu is still fudging along with meetings and half solutions but I don't think we`ll hear of Greece officially defaulting, they are too small for that to happen instead there Debt is being picked up by the rest.

    On another topic do you think that we could be in for some type of Oil shock in 2012?? As in if demand continues to rise can production keep up especially if the developing nations start to rally


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    #257
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    Well the big question in relation to oil right now is Iran and the constant rumour that the Strait of Hormuz will be blocked by the Iranians.

    I note Obama finally pulled his troops out of Iraq, which would indicate there is not going to be a ground invasion of Iran, but there are many in the US war mongering so it is hard to say.

    Peter Schiff, who I have great respect for, believes oil prices will rise during 2012. He believes supply constraints will be greater than any decrease in demand brought on by recession.

    Im happy to have exposure to oil, gas, gold, silver and uranium during 2012.


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    #258
    Lord TSC
    Moderators, Sports Moderators Posts: 42,429 Mod ✭✭✭✭Lord TSC


    Thrilled to see this back up to 10c. I bought in at 11c and it seemed to drop way down straight afterwards :(


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    #259
    rs500ff
    Registered Users Posts: 44 ✭rs500ff


    And another price drop for PCI.

    Like any fruitless punt the regrets never leave you.
    This really has been an incredibly poor share considering its activities and its potential/perceived upside.

    With allegations of corruption over on iii I can only say that when it hits break even for me, I am gone.

    For those of you that stay with it, well, you’re nuts.


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    #260
    zagamuffin
    Registered Users Posts: 164 ✭✭zagamuffin


    rs500ff wrote: »
    And another price drop for PCI.

    Like any fruitless punt the regrets never leave you.
    This really has been an incredibly poor share considering its activities and its potential/perceived upside.

    With allegations of corruption over on iii I can only say that when it hits break even for me, I am gone.

    For those of you that stay with it, well, you’re nuts.


    Recon this is a rocket primed , all the numbers say it will fly but they have just not lite the fuse yet, in here and usop and both are life changing punts if they play but not to much loss if they tank .

    Have been in petro a long time and persistence in the dips and rises may hopefully pay off one day

    Your siggy suggests a motorsport link, ???


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    #261
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    zagamuffin wrote: »
    Recon this is a rocket primed , all the numbers say it will fly but they have just not lite the fuse yet, in here and usop and both are life changing punts if they play but not to much loss if they tank .

    Have been in petro a long time and persistence in the dips and rises may hopefully pay off one day

    Your siggy suggests a motorsport link, ???

    Agreed. Simple Maths dictates that this is seriously undervalued. Don't mind people on iii suggesting foul play. Punters on message boards think the world is against them.

    There are a whole pile of AIM oil explorers undervalued right now. I think PCI and CHAR are two of the best but have all my eggs in the PCI basket as the 2nd half of this year will be a very exciting time for this little company with big assets, and in a month's time a cash laden balance sheet.

    I couldn't contemplate selling now after holding for 10 months of a rollercoaster ride.

    Also, it was interesting to read rumours about Russia's gas supplies being in v heavy demand and under pressure to supply adequate amounts.

    Cash plus remaining Algerian stake alone values the company at 16p. We'll get there. The markets get it wrong all the time.


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    #262
    rs500ff
    Registered Users Posts: 44 ✭rs500ff


    Well I'll see what happens i suppose. Unsure what to do at this stage however the below interview is encouraging.
    http://www.youtube.com/watch?v=iHU3I2SWvtA

    I'm holding just over 200k shares at 9p which is not insignificant however its been tied up in this company for way too long.

    Undecided.


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    #263
    zagamuffin
    Registered Users Posts: 164 ✭✭zagamuffin


    rs500ff wrote: »
    Well I'll see what happens i suppose. Unsure what to do at this stage however the below interview is encouraging.
    http://www.youtube.com/watch?v=iHU3I2SWvtA

    I'm holding just over 200k shares at 9p which is not insignificant however its been tied up in this company for way too long.

    Undecided.
    Very very similar position ..lol

    But what about the siggy, you a ford man


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    #264
    yobr
    Registered Users Posts: 375 ✭✭yobr


    zagamuffin wrote: »
    Very very similar position ..lol

    But what about the siggy, you a ford man

    Same here....think I'll hang around for 1st quarter then see, maybe come back when seismic results are due....they don't help them selves by always missing deadlines...BoC said before xmas, enel sign off was 4 weeks away, it wasn't, while we now have Enel finalisation its later to get the cash...also should have been RNS about discovery report being submitted to Algerian authorities..when you keep missing your own deadlines it is worrying...


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    #265
    Grecco
    Closed Accounts Posts: 1,007 ✭✭✭Grecco


    I think the size of the Gas find made it a lot harder for a small market cap company like PCI to handle. In hindsight they probably should have flogged the find straight away but instead they opted for a full appraisal which was a big ask for them.
    Anyway the way I see it is its done now so we will just have to wait and see what type of bookable reserves are in place first of all.
    As for the cash from Enel, the $100m is already committed to Kurdistan and repaying of the last loan.
    Its a big Gas field, there's enough Gas in it to guarantee supply to Southern Europe for years, with the Russian Gas supply getting tight due to demand from china its a big asset for PCI.
    Personally I`m sitting on a huge paper profit as my average is just over 4p but I can still see big upside to this share in the next 12 months. I`m not selling, I`ll be topping up every time the SP goes below 8p but I dont think I`ll get a chance so may have to buy at market prices.
    The closer we get to Kurdistan/another Farmout/Rovasenda there will be sharp rises in the SP
    Little is been said of Rovasenda but they are targeting 200+ million Barrels of Oil and if this comes in then the SP is going to roast long before Kurdistan
    Patience is key now, jumping from share to share is only going to cost you money.


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    #266
    rs500ff
    Registered Users Posts: 44 ✭rs500ff


    Thanks for the reassuring posts guys.

    I don't jump from the share to share but, as it many other PCI holders, I am extremely frustrated. I hold this stock since mid 2010. I have never had a gain on this share. I have averaged down 3 times and at this stage feel like i am just chasing my tail.

    Yes, these are risky shares & No, I am not professional investor, but I have tried to learn from my mistakes over the last few years and generally I have done ok. However this share has been disaster.

    I would have thought by now it would be sitting comfortably around the 40p mark and steadily moving to 50p. How utterly wrong I have been.

    I'm afraid I have nothing technical or informative to add other than my rant.
    Also I genuinely appreciate some of the constructive posts on this thread.

    For those more experienced than me what would you objectively expect from this share in 12 months time? (I know its a futile Q but just wondering what long term holders are thinking at this stage).

    @zagamuffin: I've owned many fast Fords amongst other marques. PCI could reduce me to the bus pass status though!


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    #267
    turbobaby
    Closed Accounts Posts: 927 ✭✭✭turbobaby


    Brian O'Cathain wrote:
    O’Cathain told us that early talks have already taken place. “We have some new venture activity which is dependent on the closing of the ENEL deal, once that closes we’ll hopefully be announcing these deals,” he said.
    “We looking at both new territories as well as existing ones. At the moment it’s hard to say. Nothing is ever done, until it’s done. We haven’t concluded any deals yet.
    “Some of the things we are looking at, obviously we’re not currently in a position to make any capital commitments on just yet, until we’ve closed the ENEL deal. But when that’s done we’ll have the firepower to take on new deals, so we hope to add to the portfolio in the not too distant future.

    Expect some news on these in the next month. But remember the share price actually dropped when they announced the Kurdistan deal. Bizarre!
    Grecco wrote: »
    As for the cash from Enel, the $100m is already committed to Kurdistan and repaying of the last loan.

    At 30 June 2011, PCI had $90m. They've obviously burned through some of that with current expenses over the last 6 months. Added to that the Kurdistan asset cost $72m. We don't know how much of the bridging loan was drawn down.

    So I would suggest that the majority of the Enel cash can be used for asset purchases / farm ins!

    There will also be more cash coming in from the farm out in Rovasenda in 2012.

    On a moral level I hope they do not get involved in Libya, as what went on there was a disgrace in my opinion, but best not get into that here!


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    #268
    Rigor Mortis
    Registered Users Posts: 2,906 ✭✭✭Rigor Mortis


    For those interested, there is a Proactive Investors event in the Shelbourne at the end of the month. PCI will be one of the companies presenting.

    The directors of Red Rock Resources (AIM: RRR), Petroceltic International (AIM: PCI), Kedco (AIM: KED) and WesternZagros Resources (TSX-V: WZR) will be presenting:
    Tuesday the 28th February 2012,
    The Shelbourne Hotel, 27 St Stephen's Green, Dublin, 2 Ireland (St. Stephens Suite)

    www.proactiveinvestors.co.uk/register/event_details/137


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    #269
    yobr
    Registered Users Posts: 375 ✭✭yobr


    Thanks for notification, I will be heading along to that.. Hope its Tom Hickey presenting.


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    #270
    rs500ff
    Registered Users Posts: 44 ✭rs500ff


    Enel payment has been received.

    I'm giving this til Q3 and then I hope to be out by break even.
    With 2.5billion shares in issue I feel it will be an up hill battle for the sp to dramatically reflect the possibility of positive news over the next 9-12 months.


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    #271
    Bluefox21
    Registered Users Posts: 321 ✭✭Bluefox21


    I can understand your frustration but with the management in place and the cash at hand, I'm in this for the long run :D

    http://www.davy.ie/LR?id=3049&fb_source=message


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