PETROCELTIC (PCI):CHART AND DISCUSSION THREAD (moderated)

Bronco Lane - 3 Jan'07 - 18:01 - 11829 of 11833


Hmmnn!..well errr!...hurrumph!..will not argue the technicalities on this minor flaw..

what I am saying is that the current contract expires in 2010 and will have to be renewed..AND AS A NEW CONTRACT WILL GIVE Sonotrach 51%...

Now prove me wrong!

Bronco...

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Easy

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"1.3.2. Exploration and/or exploitation contract

The investor wishing to engage in an activity connected with the exploration and exploitation of hydrocarbons must first enter into an exploration and exploitation contract with ALNAFT, or into an exploitation contract when a deposit that has already been discovered is involved."

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There are already discoveries on the block


Petroceltic International PLC - Press Release
PETROCELTIC WINS MAJOR GAS BLOCKS IN ALGERIA BID ROUND

Dublin: Thursday 29th July, 2004: Petroceltic International Plc is pleased to announce that it has been awarded the Isarene Permit (blocks 228 & 229 A) in the 5th Algerian International Licensing Round which closed yesterday.
The Isarene Permit covers over 10,000 sq kms in area. Six wells already drilled in the blocks have flowed gas of up to 25 million cubic feet a day from several Palaeozoic reservoirs. Other wells drilled in the northern permit area have had oil indications.

Information provided by Sonatrach (the Algerian State Oil Company) states that there are existing discovered reserves of 380 billion cubic feet (bcf)