Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Petroceltic: Moron "experts" from Bulletin Boards take it up the arse as bid comes in at 3p

Time and time again we bears warned folks that shares in Petroceltic (PCI) were essentially worthless. But the Bulletin Board Morons - as always - knew better. Tom Winnifrith is just a failed fund manager/pizza boy/alcoholic they chanted as they bid the shares to 20p+. Oh dear folks, this former oil analyst has no sympathy as today Petroceltic received a bid at just 3p per share and that is as good as it will get. The Morons - as ever - just do not know what they are talking about.

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Comments

Jason

26 February 2016, 02:22

Ouch! Investors once again been shown the perils in investing in over indebted oilers. First Afren, now Petroceltic.. who’s next GKP, Igas?
warun boofit

26 February 2016, 02:57

some idiot paid 14p for 70000 this morning , maybe Mr Lithium doing a cheeky top up ?
Drunken Sailor

26 February 2016, 03:02

RNS Number : 2773Q

Petroceltic International PLC

26 February 2016

Dublin

26 February 2016

Petroceltic International Plc

Statement Regarding Worldview Proposal

The Board of Petroceltic International plc (“Petroceltic”) notes the announcement made earlier today by Sunny Hill Limited, a company wholly owned by the Worldview Economic Recovery Fund, of its firm intention to make an all cash offer for the entire issued and to be issued share capital of Petroceltic other than the Petroceltic Shares in the beneficial control of Worldview International Management Limited SEZC and/or any of the Worldview Funds.

Petroceltic will make a statement in due course. In the meantime, Petroceltic shareholders are urged to take no action.

Morons buying in still – they think they are going to get a better offer from BP or somebody
BlueFrew

26 February 2016, 03:28

It’s a real pity that borrow has dried up on this. A short from here would be as close to free money as the stock market will give you.
Duck and Dive

26 February 2016, 03:47

Good call on this dog by TW, Lucian and even Ben after his initial bullishness.
Daniel Victor

26 February 2016, 04:07

It’ll be interesting to see what the company has to say.Perhaps they actually are trying to find a counterbidder.
Drunken Sailor

26 February 2016, 05:16

Only a major shareholder would pay for the equity, if anyone else wants the assets they just need to buy the debt, probably at about 40p in £.

Even when AFREN suspended, the BBMs where still convinced there would be a bidder at 8p for the shares.