PCI lets get in on,algeria,tunisia,italy,oil and gas.

From this morning's Davy daily note;

Petroceltic (PCI LN)
Targets H1 2006 for the launch of its drilling programme in Algeria
Previous close: 12.5p Target: 37p (11/05/05; previously 18p, issued 11/01/05) Analyst: caren.crowley@davy.ie
Petroceltic has announced that it has begun the tendering process for its forthcoming drilling campaign in Algeria.
The company now anticipates that drilling on its Isarene permit in the Illizi Basin will commence in Q1/Q2 of 2006. The
Isarene permit covers some 10,800 square kilometres, and contains eight gas discoveries and one oil discovery.
2006 should be the year that Petroceltic tests its assets with the drill-bit. We anticipate that in 2006 the company will
participate in a four-well drilling programme which will take in its interests offshore Italy, Ireland and in Algeria.