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PetroCeltic - Worldview may bid - shares are a sell

By Tom Winnifrith, The Sheriff of AIM

22 January 2016 05:04

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Oh how the morons like being rogered. Today's lesson is Petroceltic (PCI) where 29.6% shareholder Worldview has said that it may make a cash offer for the company subject to due diligence, etc, etc. Petroceltic shares have raced ahead by 85% to 20.1p valuing the company at £39.7 million. This is of course madness.

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Comments

BobbyChariot

22 January 2016, 05:49

The usual AIM ramping crew is on it Tom, a truly despicable bunch they are.
shaun

22 January 2016, 06:26

Is there no minimum bid value based on prices paid for stock over last 12 months..or smth along those lines?
BobbyChariot

22 January 2016, 06:39

Plus fatty Malcy as well on his blog.

http://www.malcysblog.com/2016/01/oil-price-pantheon-providence-president-sundry-schlumberger-northern-and-finally/

Northern Petroleum has completed its Canadian acquisition and will now produce 200 b/d from the Country of which 80% is oil. Proved and probable is 1.5m boe, 0.9m in the former category. Italy is long haul but they have Cascina Alberto onshore exploration play with Shell. The company has $2.4 in cash and a positive cash flow and the G&A is sub $3m…..

Finally the trade press is reporting a statement from Worldview who say that they are ‘evaluating and preparing for a possible all cash offer’ for the shares in Petroceltic that they do not already own, ie 70%. PCI are up 30% this morning at 17.5p but I thought that you had to pay at or higher than the price paid in the last year, in this case around 130p, i’m sure a bid at that level would be listened to…

Tom can you have a look at Mr Wood and see if there are any skeletons in his closet, he seems to be very popular with the AIM oil ramping crew. Seems to be a big GKP/RRL ramper, you know the usual dogs.

Cheers.