Petroceltic International plc, the independent oil & gas exploration company focused on the Middle East-North Africa and Mediterranean region today announces its results for the period ended 30 June 2012.
Highlights:
Brian O’Cathain, Chief Executive of Petroceltic commented:
“This is a transformational time for Petroceltic, the proposed merger with Melrose has a compelling strategic and commercial logic, creating a regional leader with a diversified portfolio of producing, development and high impact exploration assets. Upon approval by shareholders of Petroceltic and Melrose of the proposed merger, the Enlarged Group will be well funded, capable of sustained long term growth and of delivering significant value to our shareholders. During the first half of 2012, Petroceltic has achieved some significant operational and commercial milestones in both Algeria and Italy, and has made good progress with seismic acquisition in the Kurdistan Region of Iraq. Our next important task will be the commencement of the development planning phase on Ain Tsila, in conjunction with our partners Sonatrach and Enel”.
[mappress] LNG World News Staff, August 28, 2012