Tjuringa
11 Aug 2015
Worldview Why don't worldview just make a bid for the company and solve their hang-ups and the share price problem! At this price they could pick the 70% they don't own up very cheaply....
earthly
06 Aug 2015
Re: Still active?? azoreasyour response you have proved my point, and presumption on your part shows your inability to to put reasonable thought to any reply!EARTHLY
ozoresas
05 Aug 2015
Re: Still active?? Need to say, by the look of this SP, that I am more of a winner than a looser.You keep on holding to this share and the word looser will be far to small to describe your situation as a long term holder.Gla
earthly
05 Aug 2015
Re: Still active?? ozoresas You come over as a sore looser..if you sold ..why don't consider moving on.EARTHLY
tulleile
04 Aug 2015
PETROCELTIC AND BP! Is Petroceltic International PLC The Perfect Partner For BP plc?Motley Fool | Mon, 3rd August 2015 - 15:41Share thisShares in oil and gas exploration company, Petroceltic (LSE
CI), have slumped by over 10% today after it announced the suspension of a planned bond issue, with the company stating that, as a result of volatile conditions, it has been unable to secure financing on the terms it is seeking. In consequence, marketing of the $175m bond issue will be postponed until Petroceltic has completed the transfer of its interest in the Isarene production sharing contract.Clearly, the market is disappointed with this development and it comes at a time when the company's outlook is hugely uncertain. As well as a weak oil price hurting Petroceltic's near-term outlook, its major shareholder, Worldview Capital Management, has apparently been critical of the company's senior management team. In fact, it has been rumoured that a change in CEO is desired by Worldview, which is also unhappy with the proposed bond issue, too.Of course, today's share price fall follows a hugely challenging few months for the company, which have seen its valuation plummet by over 50%. And, with financing in the oil sector being relatively difficult to come by, owing to the increased opportunities that have become available to less risk averse investors, a delay in Petroceltic's planned fundraising could cause investor sentiment to decline further in the short run. That's because, with an array of other oil stocks trading on super-low valuations, investors have a great choice available to them, which means that they can be more selective.One oil stock that is worth choosing to buy at the present time is BP (LSE:BP). It clearly has far superior size, scale and financial strength compared to Petroceltic and, while there have been criticisms levelled at its management team in recent years, the company is riding out a lower oil price, sanctions against Russia and the ongoing fallout from the Deepwater Horizon oil spill very well. In fact, BP's share price has fallen by just 5% this year and, as its recent results showed, it is making encouraging progress in dealing with a lower oil price environment.BP is expected to at least maintain dividends over the next two years, which means that it could pay out as much as 13.8% in dividends during that period. As such, it remains a top notch income play and, with strong growth prospects being anticipated during that period, its price to earnings (P/E) ratio is set to fall to just 12.8 next year, which indicates that its shares could be due an upward rerating - even if the price of oil does not pick up considerably in the meantime.On paper, a combination of a smaller oil play and a larger, more stable stock such as BP makes a lot of sense. They may be able to balance out each other's weaknesses and provide a mix of income and growth for long term investors. However, while BP is a superb buy at the present time, things could get worse before they get better for Petroceltic, with shareholder disquiet and questions about its financing unlikely to help improve investor sentiment in the near-term. As such, it remains a stock to watch, rather than buy, at the present time.Peter Stephens owns shares of BP. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Share this
bizana
03 Aug 2015
Petroceltic Ain Tsila Even if it had top class management PCI has no hope of raising a bond in todays market in what is, hopefully, the trough of the commodities cycle.This is why Petroceltic Ain Tsila is being created - in the hope of attracting an offer for 100% of PCI's remaining interest in Ain Tsila.
Damp Seaweed
03 Aug 2015
Re: RNS Bond Issue So no one wants to lend them any money. Hardly surprising with Afren just rolling over. Difficult to put a positive spin on this situation.
aandeeltje
03 Aug 2015
RNS Bond Issue GLAAandeeltje Dublin3rd August 2015Petroceltic International Plc Update on contemplated Bond IssuePetroceltic International plc (AIM: PCI) ("Petroceltic" or the "Company"
, the oil and gas exploration, development and production company focused on North Africa, the Mediterranean and Black Sea regions hereby provides an update on the Company's contemplated Bond Issue.As announced on 29 June 2015, Petroceltic is contemplating issuing up to $175 million of Senior Secured Callable Bonds (the "Bond Issue". Since then, the Company has engaged with a broad group of international institutional credit and industry investors to discuss their appetite to participate in the Bond Issue. The Company has received positive confirmation of its strategy and outlook, as well as the quality of the Company's interest in the Isarene Production Sharing Contract ("Isarene PSC" for credit investors.The bond marketing period has however coincided with a time of volatile market conditions making it challenging to complete the Bond Issue on terms acceptable to the Company. More positively, this period has also coincided with the approval for the Company to transfer its interest in the Isarene PSC to a wholly-owned subsidiary company, Petroceltic Ain Tsila Limited, more quickly than originally anticipated (the "Transfer". The completion of the Transfer, which is anticipated over the coming weeks, will provide investors with clarity and certainty on the security position of the Bond Issue at completion.The Company has therefore decided to suspend formal marketing of the Bond Issue until completion of the Transfer, subject to satisfactory market conditions. In the meantime, the Company will continue discussions with selected potential investors.Commenting on the update, Brian O'Cathain, CEO of Petroceltic said:"The transfer of our interest in the Isarene PSC to a wholly owned subsidiary is a positive event. The Company continues to pursue its previously announced financing strategy which it believes is in the best interests of the Company and its shareholders as a whole."Further announcements will be made as appropriate. Ends For further information, please contact: Brian O' Cathain /Tom Hickey, Petroceltic International Tel: +353 (1) 421 8300James Henderson / Rollo Crichton-Stuart, Bell Pottinger Tel: +44 (20) 3772 2500Douglas Keatinge / Joe Heron, Murray Consultants Tel: +353 (1) 498 0300John Frain / Roland French, Davy Tel: +353 (1) 679 6363 Notes to Editors: Petroceltic International plc is a leading Upstream Oil and Gas Exploration and Production Company, focused on North Africa the Mediterranean and Black Sea Regions, and listed on the London Stock Exchange's AIM Market and the Irish Stock Exchange's ESM Market. The Company has production, exploration and development assets in Algeria, Egypt, Bulgaria and Italy.
Fusion98
29 Jul 2015
64p This is nearly half the price it was when the director spent in excess of £100k in shares after the removal of the dragon oil attempted take over.I think this will keep on falling unless the board actually tell us what their plan is to get this company moving again and when.67% down and sitting tight... for now at least.Fusion98
bizana
29 Jul 2015
AGM I have tried several times to post a message re the AGM but each time the result was: "Sorry your post has not been accepted due to inappropriate language or other problem".I have never encountered this before.For anyone who is interested in getting a flavour of the AGM and the arrogance of the Exec. Directors = I posted my rejected message on ADVFN on 27/7
ozoresas
28 Jul 2015
Re: Perhaps... the interesting thing is that this share was at 220p not long ago and now its value is 68p.....That is 2,72p of the old share's value. Lowest ever. BAD NEWS.
earthly
27 Jul 2015
Re: Godbody's Gerry Hennigan today and the fall-out from the level of discord with its largest shareholder, Worldview (20% interest).__________ __________ __________ _______I thought it was nearer 29%+ so what are they on about. ?EARTHLY
bizana
27 Jul 2015
Godbody's Gerry Hennigan today …Petroceltic The case for the defensePost another request from Worldview for an EGM and the issue of legal proceedings in theHigh Court in Ireland over an alleged failure to carry out a Strategic Review, the Board ofPetroceltic set out its defense at the AGM on Friday. Central to its case was the basis for theproposed bond issue aimed at raising $150m - $175m and secured on the Algeriansubsidiary.Of note in the presentation was a current value attributed by Wood Mackenzie to the AinTsila development (Algeria) of $620m ($653m including the carried value of most recentfarm-down to Sonatrach), with the same consultant attributing a value of $1.4bn to theasset prior to initial production in 2019. Using the same discount rate (10%) our Ain Tsilavalue currently stands at $574m.With a current market value for the group as a whole of just £148m (c$230m, EV of$380m) the above valuations have been weighted down in part by marketsentiment, but also uncertainty over the bond issue and the fall-out from the levelof discord with its largest shareholder, Worldview (20% interest).
earthly
27 Jul 2015
Perhaps... Management are hoping that Worldwide might cut their losses and sell some of their stake ..leaving others to pick up cheap shares and thereby leaving no opposition to further fund raising...of course what might happen others might just jump in and back Worldwide to exercise the BOD removal in these situation anything is possible !! all supposition at this stage. interesting times. IMOEARTHLY
ozoresas
25 Jul 2015
Re: Still active?? Last trade bellow 70p. Buffffffffffffff
